Argus Group has brought to the fore a novel group health insurance plan and as per the latest info, employers facing the dual challenge of the recession and the rising costs of healthcare will be able to cash in on it. The novel group health insurance plan has been named as Signal Plan and does cost about 10 percent less than standard health plans. What are the exclusive offers of Signal Plan? The Signal Plan, in a nutshell, does proffer a lower cost healthcare option with wide-ranging local and overseas benefits. However, some restrictions do also exist to make it more reasonable compared to other group health plans on hand in the realm of Bermuda.

Let’s focus on the benefits of the plan. The new plan does consist of benefits for local hospital treatments and medical services. Full coverage is also rendered for local hospital expenses and physicians\' services provided in hospital. Well, a number of restrictions apply on the number of office visits to local service providers and some local services are not covered.

On the word of Gerald Simons, president and CEO of the Argus Group, an assortment of concern had been expressed regarding health insurance premium increases which had been exacerbated by the economic downturn and salary freezes over the past two years, but at the same time people recognised the need for insurance protection.

"We developed this plan in response to the cries from the Minister of Health and from the public at large for a lower cost option and the Signal Plan will cost around 10 percent less than typical plans cost," he said. "With healthcare costs going up people feel very exposed without some form of protection.” "Last year we suggested to some employers that were having difficulties in meeting their health insurance premiums that they consider a different plan design."