Nazpay Inc. Payroll Company Shares 3 Tips for Businesses on Choosing the Right Medical Coverage

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Nazpay Inc., a payroll company located in Long Island, NY is weighing in on how businesses can choose medical coverage that works best for them and their employees.

Many employees think health coverage to be the most important employee benefit. It is also an enticing benefit for an employer to offer. However, not all insurance plans are an equally good bargain for a business.

1. When deciding on medical coverage for a business it is important to consider how much a plan costs. When thinking about cost there are two things to consider: the Company can go with a low deductible plan with a high premium or, the company can go with high deductible plan with a low premium. Choosing the first option ensures that out-of-pocket costs are low. However, the high premium can make things more expensive for the company. Your company demographics will help you dictate which option is better. If you have a younger demographic, employees may be willing to pay higher deductibles because they don’t go to the doctor very often. On the other hand, if your age bracket is older, they want as much covered as possible.

2. Next, Nazpay Inc. suggests looking at what the plan covers. The more services covered by the company, the more that it will cost. However, do not just look at which services are covered but also look at how much of those services are covered because there could be caps and rules in place to prevent too much use of any of the services; therefore, it is beneficial to that beforehand.

3. The final thing to look at when a company is making decisions on medical coverage is the network of doctors. The smaller the network, the less expensive the plan is. This is because the healthcare plan has arrangements with those doctors. Health Maintenance Organizations require employees to only visit approved doctors and often times require you to get approval to see another doctor. These tend to be cheaper than the Preferred Provider Organization which lets employees choose their own doctor. On the other hand, an insurance provider has a wide network of doctors. This is to guarantee that your employees can visit what doctors they desire without worry.

Nazpay provides its services to small and medium sized businesses in Long Island and the greater Tri-State area. Additional resources can be found at or by calling 516-584-8035.

With services ranging from time and attendance to payroll taxes, Nazpay simplifies your payroll process, starting with the gathering of your employees' information. An experienced Payroll Specialist can contact you with one quick phone call each pay period, or you can send your payroll data via fax.

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J Ronald Nazaire
Nazpay Inc.
+1 (516) 717-1440 Ext: 1111
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