Allstate Benefits Review: Software Tool Provides Fast Quotes

What Is Allstate Benefits?

Allstate Benefits is a leading provider of employee benefit solutions, offering supplemental insurance products and self-funded health plans to employers across the United States. The company provides a comprehensive portfolio of group insurance products designed to help protect employees and their families from life's uncertainties. Their ingenious online small business health insurance quoting tool software lets you get quotes fast and return to what you were doing. The bottom line is that getting small business health insurance quotes from multiple providers is the best way to find affordable coverage for your company.

Allstate Benefits has over 65 years of experience in the employee benefits industry. It is focused on providing employers with innovative and affordable benefits solutions and is committed to outstanding customer service. Allstate Benefits is a subsidiary of The Allstate Corporation, one of the nation’s largest publicly held personal lines insurers.

Benefits Of Using Allstate Benefits

There are many advantages to using Allstate Benefits for employee benefits:

Cost Savings

Allstate Benefits offers self-funded health plans that can provide significant savings compared to traditional fully insured plans. With self-funding, employers only pay for the actual claims incurred by employees. In years when claims are lower than expected, employers may receive a refund of unused funds. Small businesses can lower their health insurance costs by looking for cheap plans that still offer good coverage.

Customization

Allstate Benefits provides various supplemental insurance products that can be mixed and matched to create a customized benefits package. This allows employers to offer the combination of benefits that best fits their budget and meets the needs of their workforce.

Convenience

Allstate Benefits integrates all the services needed to administer group benefits plans into one streamlined solution. This includes stop-loss insurance, claims administration, provider networks, and more. Forming a group health insurance plan with other small businesses is an option to get more affordable rates.

Flexibility

Employers can choose from various plan designs and provider network options to find the right fit. Allstate Benefits offers PPO, Network Only, and Reference Pricing plans with choices of deductibles, coinsurance, copays, and out-of-pocket maximums. Remember, small business health insurance plans come in different types, like HMOs and PPOs, with varying costs, coverage, and provider access.

Strong Financials

Allstate Benefits is backed by its parent company, The Allstate Corporation, which has strong financial ratings indicating its ability to pay claims.

Brand Recognition

The Allstate name is well-recognized and trusted throughout the United States. Employees can feel confident choosing benefits from a leading national brand.

How Does Allstate Benefits Compare to Competitors?

Here is a detailed comparison between Allstate Benefits and major competitors UnitedHealthcare, Cigna, Aetna, Humana, and Anthem Blue Cross Blue Shield:

Allstate Benefits vs. UnitedHealthcare

• Both offer group health insurance, self-funded plans, and supplemental insurance products.
• UnitedHealthcare has a more significant national presence and provider network, while Allstate Benefits availability may be more limited in some states.
• Allstate Benefits focuses more on supplemental insurance, while UnitedHealthcare emphasizes major medical group health plans.
• UnitedHealthcare health plans tend to have more robust plan options and digital tools but are often more expensive. Allstate Benefits focuses on affordability.
• Allstate Benefits has better financial strength ratings from AM Best than UnitedHealthcare.

Allstate Benefits vs. Cigna

• Both offer a range of medical, dental, life, and disability insurance products.
• Cigna has higher customer satisfaction ratings across its health insurance plans.
• Allstate Benefits offers self-funded medical plans, while Cigna focuses on fully insured group health plans.
• Cigna has vital wellness programs, while Allstate Benefits emphasizes affordable supplemental benefits.
• Allstate Benefits provides more personalized service and support for smaller employer groups.

Allstate Benefits vs. Aetna

• Both provide group health insurance and supplemental insurance products.
• Aetna has a more significant national presence, while Allstate Benefits availability is more limited.
• Aetna offers more health plan options, while Allstate Benefits has a broader range of supplemental products.
• Allstate Benefits focuses on affordability, while Aetna provides robust plan designs and digital tools.
• Allstate Benefits gets higher marks for customer service, while Aetna is known for its claims processing efficiency.

Allstate Benefits vs. Humana

• Both offer group medical, dental, life, disability, and supplemental insurance.
• Humana has higher Medicare Advantage plan ratings, while Allstate Benefits focuses on commercial group plans.
• Allstate Benefits has better financial strength ratings from AM Best.
• Humana is praised for wellness programs and resources, while Allstate Benefits emphasizes affordable rates.

Allstate Benefits vs. Anthem Blue Cross Blue Shield

• Both provide group health plans and supplemental insurance products.
• Anthem has a more significant presence in 14 states, while Allstate Benefits operates nationally.
• Anthem offers health plans on public exchanges, which Allstate Benefits does not.
• Allstate Benefits gets better marks for customer service, while Anthem is known for efficient claims processing.
• Both companies have strong financial ratings and stability from AM Best.

Allstate Benefits competes well on affordability but has more limited plan options and availability than major national competitors. It stands out for good service and financial stability.

Product Options

Allstate Benefits provides employers with a comprehensive portfolio of supplemental insurance and health plan options. Finding affordable health insurance for small businesses requires comparing various plans to balance costs and coverage. Some of the leading products include:

Supplemental Insurance:

Accident Insurance

Help cover out-of-pocket costs associated with accidental injuries. Controlling small business health insurance costs involves balancing premiums, deductibles, copays, and maximum out-of-pocket costs.

Critical Illness Insurance

Pays a lump sum benefit if diagnosed with a covered critical illness.

Hospital Indemnity Insurance

Provides a daily benefit for hospital confinement.

Disability Insurance

Replaces lost income if you become disabled and can't work.

Health Plans:

• Self-Funded Medical – Customizable major medical plans. The employer pays fixed costs plus claims.
• Fully Insured Medical – Traditional health insurance with predictable monthly premiums.
• Dental Insurance – Coverage for preventive, essential, and primary dental care.
• Vision Insurance – Covers eye exams, glasses, contacts, and LASIK surgery discounts.

Additional Products: Life, Identity Theft, Legal Insurance, Employee Assistance Plans

Step-by-Step Setup Guide

Here is an overview of the process for setting up Allstate Benefits for your company:

1. Get a Quote: Work with an Allstate Benefits agent or broker to review your company's benefits needs, employee demographics, and budget. Obtain quotes for self-funded and supplemental plans. Working with small business health insurance brokers simplifies evaluating plans and negotiating group rates.
2. Select Plans: Choose the optimal mix of health plans and supplemental products that provide your desired coverage options within your budget.
3. Complete Enrollment: Employees enroll online or using paper forms. Allstate Benefits can provide enrollment support services if needed.
4. Establish Administrative Services: Allstate Benefits will set up integrated services like claims administration, provider networks, stop-loss insurance (if self-funded), and billing.
5. Manage Plans: Allstate Benefits provides ongoing support. Utilize plan data to understand utilization and renew plans accordingly each year.

Is Allstate Benefits Right For You?

Comparing small business health insurance quotes lets you find the most cost-effective plan that meets your coverage needs. Allstate Benefits is a great option for small and mid-sized employers looking for the following:

• Affordable health and supplemental benefits covering employees nationwide
• Self-funded medical plans with opportunities for cost savings
• Customizable benefits packages with many plan choices
• Strong customer service and support from a trusted national brand
• Convenience of integrated enrollment, billing, and claims management
• Supplemental insurance products for income protection and financial security

Allstate Benefits could be the right fit for your organization if you want affordable, flexible benefits solutions from a provider with excellent service and financial stability. You can conveniently get small business health insurance quotes online from provider websites and insurance marketplaces.

CPA Practice Advisor notes that "Intuit, the maker of QuickBooks, TurboTax, Credit Karma, and Mailchimp, has partnered with Allstate Health Solutions to provide QuickBooks Online Payroll customers with expanded insurance options for their employees, in time for open enrollment season."

Get Started With Allstate Benefits Today

Contact an Allstate Benefits representative to receive a quote and learn more about your company's right mix of plans. Their team can walk you through all aspects of setup and administration to ensure a smooth implementation.

Investing in the health and well-being of your workforce is essential. With quality benefits solutions from Allstate Benefits, you can take care of your employees while managing costs. Get in touch today to start the process and see how Allstate Benefits can help protect what matters most – your people.

Get Free Allstate small business health plan quote.