Broker Check

How the Group Medical Enrollment Process works

| January 11, 2023
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     Enrollment for employer sponsored group medical insurance can be a very timely and confusing matter. Knowing what to expect and which documentation you may need, can really help speed up the process. After selecting the plans that you choose to offer, you will have to decide on whether you want to do an electronic or a paper application. Depending on your employee’s, either can be beneficial. Regardless of which type of enrollment you choose, you want to make sure that you confirm with your agent that everything that you send, or upload will be secured and encrypted. These applications will have all your company’s information, as well as your employee’s personal information, including but not limited to: Social Security numbers, addresses, banking information, etc.  

     After you select your enrollment type and your employees have the applications, you will need to complete the employer applications. This is where you will choose your benefit administrator and decision maker. These documents will also require information about your company. They will ask about common ownership, workers comp. insurance, enrollment dates and waiting periods, etc…  All carriers’ forms are different and some of the questions may be confusing, so I suggest it’s best to do the application with a licensed agent that can explain the questions to you (AKA: Dorian Keaney).  

     On the employer side, documents such as your quarterly tax filing forms are required. In the state of Florida, they are called your form RT6. Your RT6 shows the employees who were on payroll for that quarter. The insurance company needs this document to confirm that all eligible employees are being offered coverage. You will also need to submit a copy of a voided check.  

     Next you will need to speak with your payroll company to let them know about the deductions. You will need to let them know how much the weekly or bi-weekly contributions are. You want to make sure that you don’t just divide the monthly payments by two. You want to make sure that you’re calculating for either 26 or 52 weeks. If you have any questions about this, please feel free to call Keaney Corporate Services at 772-287-8089. 

     One thing you don’t want to do is cancel your previous coverage UNTIL you receive confirmation that your new plan has been accepted. The last thing you would want to do is cancel your old coverage because you thought your new plan was going to start, but something like another employee held up the enrollment process and now you have a gap in coverage. 

     The enrollment process for group medical insurance can be very confusing. These are just some of the basics when enrolling. It’s always best to speak with your agent every step of the process, not only to speed the process up, but to make sure everything is done and submitted correctly. 

      

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