Group Dental Insurance in NJ
Is it Worthwhile to Provide Dental Insurance?Is it Cost-Effective Not to?
Businesses in New Jersey can attract the best talent by offering their employees dental coverage. Workers appreciate the perk, but they don’t want to suffer a substantial drop in base salary to pay for it. Providing this level of protection for your team, while minimizing the cost of dental insurance may be the edge you need to remain competitive.
Group Dental Insurance: A Low-Cost Solution For Business
Group dental insurance plans are a cost effective way for businesses to offer prospective and existing employees’ dental coverage.
How does it work?
The basic principle behind group dental insurance is simple. By signing up a group of employees under a single plan, a firm can receive a reduced price per premium. Insurance carriers give a lower price to groups of people because they can spread their risk. Statistically, it is unlikely that multiple members of a group will suddenly need expensive dental procedures.
Some insurers enter into relationships with specific dental clinics. The carrier offers to forward employees who need treatment to a practice, and in return, the practice demands a smaller fee from the insurer. The insurer can then pass on this saving to employers, reducing the cost of dental insurance further.
A Choice
Many carriers give you a choice. Cut costs by going with their preferred dental providers or pay higher premiums and give employees power over who they visit when they need dental treatment.
This decision should be made carefully and depends on the needs and priorities of your firm and your employees.
The Benefits Of Group Dental Insurance
Value
An employee might need emergency dental treatment to resolve an issue with an abscess or periodontal infection but are unwilling to fix the problem without medical coverage. Their condition could eventually effect their work, lead to prolonged absences, and cost your firm money.
By providing employees with the insurance they need, they can resolve dental issues quickly and get back to work after problems inevitably arise.
Perhaps the most critical effect of group health insurance is on employee morale. Workers want to know that you take their well-being seriously. Companies that offer dental insurance prove to prospective and existing employees that they are concerned with their health and are willing to provide financial support and coverage should anything go wrong.
Not providing group dental coverage can be expensive, effecting retention and hiring or sick leave and disability claims.
Another benefit is the cost. Group dental insurance is significantly cheaper per employee in New Jersey than you may expect. It’s a highly efficient way of offering workers a perk that they want, while maintaining competitive wages and sustaining profits.
Get Group Dental Insurance Today
If you go direct to a carrier, you may find that their central offering doesn’t align with your needs. Central Jersey Insurance Associates is an insurance broker, meaning that we work with you to find the best group dental insurance for your needs.
