Changes in employee health insurance benefits
This process has been around for years, but recently it has seen major improvements.
If you are an employer in northern Arizona who pays a portion of your employees’ health insurance premiums, you should educate yourself about the major changes that are happening right now. No longer will you be limited to the ho-hum plans offered by about four different operators – where they tell you what you can have and your premium goes up and your benefits go down.
Now you can design the plan for your business and it will have the benefits you want; Plus, you can now really save money on your health insurance premiums, which could add up to around $ 1,000 per employee per year. If you have 10 employees, the statistics tell us that you should be saving about $ 10,000 per year.
How can this be? Simple. Right now, you’re stuck with plans that offer benefits that cost a lot of money and your employees aren’t using. Now, there is a way for you to provide these perks, but you only pay for them if and when employees use them. It may sound too good to be true, but that’s what every employer says until they see the process pictured.
This process is used by almost all large employers and has also been discovered by some very smart small employers. This process uses statistics, section 105 of the IRS code and a MERP (Medical Expense Reimbursement Program). You can look up the code and MERP, but the statistics come from the US Department of Labor: over half of all employees barely use their health plan or don’t use it at all; yet you and your employees pay it monthly. It is a concern and an expense that you can now control.
Employers and employees are also:
- Concerned about the ever increasing deductibles;
- Worried about the increase in health care costs each year;
- Worried that your child and / or your doctor is not in the plan;
- Concerned about growing government mandates that drive up costs;
- Concerned about the ever increasing reimbursable expenses;
- Concerned about mandated networks and limited coverage.
This process has been around for years, but recently it has seen major improvements. One is to use different ways to review your claims history before the process designs, develops, and even offers you the opportunity to participate in a specialized program exclusively for you and your employees. In most cases, your current insurance will not provide you with your claim history. This process helps employers obtain this essential information from most insurance companies in America. By combining your claims statistics with Sect 105 / MERP, the process can develop a long-term sustainable health insurance program for you and your employees.
It all seems to be for employer groups of thousands of employees – and it is. But the process was developed by some really smart people, and they scaled it down to make it work just as well for small groups – as few as five employees. The optimum size group of the hundreds of plans operating in the United States is less than 100 full-time employees.
Lehrman Group has been in the Arizona health insurance industry since 1988, and to us it’s the most exciting revelation for employers in years. Now you can have a plan that you control and design. It would be the foreground that you can edit as you like whenever you want. NBF
By Ken Whitley
If you would like more information, contact Ken Whitley at [email protected] or 928-813-7173 x 19.
Ken Whitley is the Group Sales Manager at Lehrman Group.