GTM Health Options for Household Employees
Health Insurance Plans for the Household Employment Industry
Health benefits are becoming a necessity for household employers to offer their
employees. In a recent survey of 836 nannies nationwide, 54 percent wanted health
insurance, while only 37 percent reported receiving it.
Why Offer Benefits?
- Because life is unpredictable
Because medical care is expensive
- Even if your employee is healthy and young, they can be caught off guard by an unexpected
illness or injury.
Because health coverage helps protect employees financially.
- The financial risk your employees take without health insurance also puts you at
risk if they are suddenly unavailable to work and cannot afford the necessary medical
attention to recover quickly. A typical hospital stay can cost over $20,000, including
physician charges, follow-up care, and hospital charges.
Because it covers more than just injury and illness
- Medical care can quickly add up to a staggering financial loss. Coverage limits
out-of-pocket costs, protects their assets and safeguards their future earnings.
If they are financially secure and know you've help them remain so, you are more
likely to retain a good employee.
Because health coverage can be affordable
- It’s not just the emergencies that insurance covers—it’s also the preventative healthcare
needed to safeguard against future health problems. By helping with health insurance,
you as a household employer are assisting in eliminating surprise illnesses, and
the time-off that results.
- If you help out as the employer — there are low, monthly premiums available for
single employees working in the household employment industry.
GTM has partnered with eHealthInsurance Services, Inc. a leading source of health
insurance for individuals and families. They are licensed in all 50 states and the
District of Columbia, eHealthInsurance has developed partnerships with more than
150 health insurance companies, offering more than 5,000 health insurance products
The company is able to communicate electronically with insurance carrier partners,
which enables a simpler, more streamlined health insurance application process in
real time. An important thing to keep in mind is that Health insurance premiums
are filed with and regulated by your state's Department of Insurance. Whether you
buy from eHealthInsurance, your local agent, or directly from the health insurance
company, you'll pay the same monthly premium for the same plan. This means that
you can enjoy the advantages and convenience of shopping and purchasing your health
insurance plan through eHealthInsurance and rest assured that you're getting the
best available price.
eHealthInsurance offers online live assistance to help you answer any questions
you are concerned with or feel free to call them directly 800-977-8860.
The current products available are:
- Health Insurance
- Short-term Health Insurance
- Student Health Insurance
- Health Savings Accounts
- Dental Insurance
- Term Life Insurance
- Dental Discount Cards
Click here to get a free instant online quote and even purchase your policy today!
Health Options To Suit Any Budget
Save Money With HRAs &
FSAs From GTM
What is an HRA?
Health Reimbursement Arrangements (HRAs) are a creative option for household employers
with a range of budgets who want to offer a contribution program for health-related
expenses as an employee benefit.
GTM is offering household employers a revolutionary way to help provide healthcare
benefits to your employee.
HRAs really are the best news in healthcare benefits and in the household employment
industry for many years - whether you use an HRA as a standalone option or combine
it with a major medical insurance plan.
HRAs are flexible, convenient, and cost-effective, offering:
- Freedom of choice to help control healthcare costs for your employee
- Freedom of control making your employee accountable for the management of
their medical treatments
- Convenient roll-over feature so you don't lose your contributions at the
end of the year, or when an employee leaves
- Flexible budget options - contribution amounts that you determine
- Versatile - an HRA can be used alongside other savings accounts and health
options and can be used to fund insurance premiums and deductibles
- Popular with the employee - HRAs use employer contributions not employee
HRAs allow employees and employers to take advantage of the lower premiums offered
by high-deductible major medical plans and help keep healthcare costs under control.
The employee becomes more self-reliant, aware of healthcare issues, and develops
better judgment with health-related costs and arrangements. The employer offers
a useable, affordable employment benefit to their employee that helps recruit and
retain the best employees, but doesn't break the bank.
The HRA is a win-win for all involved
- Define an amount per year you want to contribute for your employee(s)
- Set up a GTM HRA account. Your contribution is automatically drawn into
a GTM account for your employee on a payperiod basis
- Inform your employee of the contribution amount and how they can use the
- Check quarterly GTM statements to keep track of the account
- Read and understand the HRA account plans and what medical expenses are
eligible for reimbursement
- Keep a receipt and record of medical expenses for you and your dependents
- Send in claims for reimbursement promptly
- Access the HRA account online to manage expenses
If you are interested in health options listed above, please contact 1-888-432-7972
or complete this form and fax it back to us at 518-836-2555.