818 Route 202-206, Bridgewater, NJ 08807
Telephone 908-722-6868, Toll Free: 1-800-392-0980, Fax: 1-908-722-2827, E-Mail: info@forefin.com
Business
Note: Effective July 1, 1997, Pregnancy is no longer subject to a six month pre-existing condition waiting period.
As a business owner, you have various job responsibilities. We would like to help you sort out the employee benefit issues by providing you the products and service for your employees, allowing you to concentrate on your business. We offer both individual and group health coverage. A benefits package can also attract and retain your key employees.
Your New Jersey company is eligible for group health insurance rates if there are:
 | two or more employees on payroll |
| employees must work 25 hours or longer |
| company is domiciled in New Jersey |
If you have been enrolled in an existing health plan for the last 12 months, we can provide full transfer of benefits without being subject to pre-existing conditions. For companies with 2-5 employees, you may be subject to a 6 month waiting period for pre-existing conditions. We can offer you Traditional Health (deductible and coinsurance), Health Maintenance Organizations, Preferred Provider Organization and Point-Of-Service plans. A group plan premium may be 40% lower than separate individual health plan premiums. For companies with over 50 employees, we can help design a custom plan that fits your needs. Some of the issues and concerns regarding the dynamics of designing a health plan are:
Internal
| Cost |
| Cashflow |
| Demographics |
| Corporate Culture |
| Staffing |
| Employee Expectations |
External
| Competition |
| Legislation |
| Economics |
| Community Culture |
By providing your employees group insurance benefits, you have mass buying power, assumed uniformity of benefits among classes of employees, limited individual choices and limited adverse selection. Benefits can also be used to attract and retain your employees. The alternative to group insurance is setting up a self-insurance pool.
Advantages of Insurance
| Full transfer of risk |
| Known cost (for period involved) |
| Full administrative services |
| Protection of state insurance laws |
| Enhanced employee relations |
| tax advantages for life insurance |
The purpose of Medical Benefits is to protect your employees from catastrophic expenses, maintain favorable acceptance and provide tax-effective compensation.
There are several medical plans available.
| Medicare (Social Security) |
| Medicaid |
| Workers' Compensation |
| Organization-provided |
| Indemnity plans: |
| Traditional freedom of choice with deductible and coinsurance |
| Health Maintenance Organization (HMO): copay, must use network of doctors and hospitals |
| Preferred Provider Organizations (PPO): copay, combination of HMO & Indemnity |
| Point-of-Service (POS): copay, combination of HMO & Indemnity, requires doctor referral to specialist |
Medical Plan Eligibility Requirements
| Service |
| Employment Status |
| Definition of dependent |
| spouse |
| children to 19 (23 or 25 if full-time student) or if disabled |
In order to provide you a group health insurance quote, we need the following information:
- Company name
- Company address and telephone number
- Current Carrier, plan design (deductible/coinsurance, copay, etc), monthly premium
- Desired effective date
- Employee age, sex and home zip code
- Spouse age and sex
- Number of dependent children
We can provide your company employees internet access to group insurance enrollment and benefit information. Your account representative will explain the plan designs and features available to your corporation in the proposals prepare specifically for you. We can e-mail or fax you a spreadsheet with different group medical and dental insurance options within 24 hours! Apply Now
We look forward to helping you provide your company's needs.
For additional information on your insurance needs or information about our Financial Services, call 1-800-392-0980, complete the inquiry request form, or simply E-Mail us at: info@forefin.com.
NJ Small Employer Plans (2-49)