How Employers Can Make “Apples to Apples” Comparisons Between Dallas Group Health Insurance Quotes


Selecting the right Texas group health insurance plan for your Dallas business can be difficult and confusing if you don’t understand the differences in and benefits between the plans and group health insurance quotes supplied by your Dallas group health insurance broker. This article is designed to help you understand some of the terms so that you can understand the differences between group health insurance plans in Dallas.

First, what is the financial rating of your insurance carrier and of the carriers quoted by your Dallas group health insurance broker? The financial rating is the term applied to the financial condition of the Texas group health insurance company. These ratings are an indication of the Texas group health insurance carrier’s ability to pay your employee’s health insurance claims. If you are comparing competitive Texas group health insurance rates between insurance carriers, remember that the carrier with a low financial rating may not be as likely to have the back office staff and systems to pay your employee’s claims promptly.

A.M. Best is the most recognized company that rates Texas insurance carriers. An A.M. Best rating of “A” is considered excellent, and a company with a consistent rating of B+ or better should be financially strong enough to pay your Dallas company’s group health insurance claims. You should make certain that any Texas group health insurance carrier that you are considering for your company’s group health insurance in Dallas has a financial rating of “B+” or preferably “A.”

Second, what is the complaint rate of each insurance company? The Texas Department of Insurance keeps a record and reports on the level of complaints received from Texas citizens for each insurance company licensed in Texas. A high complaint rate may be an indication that a group health insurance company has problems that you don’t need or want for your employees to experience. Be sure to ask your Dallas group health insurance broker what is the complaint rate of each group health insurance company that has been quoted.

Third, what PPO does the Dallas group health insurance plan utilze, and how many providers, both doctors and hospitals, are in the PPO network within five or ten miles of where your employees reside? Make sure that the most important hospitals in your area are in the PPO network.