Every year we compare the same four or five health plans hoping that somehow, someway things will be different- but we’re always disappointed.  We arrive at the same result- most of the health plans are increasing their premium rates faster than our businesses are growing.  Cooney Health recognizes this frustrating issue and presents ideas on how this cost may be contained.

Group Medical Coverage

The company and its employees pay a premium in exchange for medical services with varying levels of care (i.e. HMO, POS, PPO, Indemnity) and benefits (i.e. copays, deductibles).

Partially Self-Funded Plans
Instead of a paying premium, the company pays a “fixed cost” including administrative expenses and stop loss premiums and then pays for its actual claims up to a maximum amount.

Retirement Plans 401(k)
The employee contributes towards the plan with a payroll reduction before taxes.  The employee decides how the money will be invested.  The money belongs to the employee but it is not intended for use until at least age 59 ½.  The employee does not pay taxes on the money until it is withdrawn.

Group Dental Coverage
The company and its employees pay a premium in exchange for dental services including Preventive, Basic, Major and Orthodontia with varying benefits (i.e. deductibles, coinsurances, maximums)

Group Life and Voluntary Life Coverage
Group Life plans typically offer term life insurance.  Voluntary Life plans enable the employee to purchase additional amounts of coverage.

Short Term Disability (STD) and Long Term Disability (LTD)
Disability coverage provides the employee with income in the event the employee is sick or injured and unable to work.  STD coverage pays a percentage of the employee’s earnings for 13 or 26 weeks.  LTD coverage also pays a percentage of earnings and starts when STD coverage ends.
Cooney Health :: Group Health Insurance
Cooney Health :: Group Health Insurance
©2004 Cooney Health.
Cooney Health
PHONE (508) 318-5594  
FAX (617) 507-6215 
945 Concord St. 
Framingham, MA 01701