Unbundling the fully insured plans and creating a level or self-insured plan should be an option every small company considers when evaluating their health insurance. NextGen agents can help with finding the right solution.
There are new choices available – companies no longer have to use only the fully insured “canned programs”. We now have the ability to structure a client’s health insurance program around the needs of the company. NextGen agents can and should consider a wide range of solutions that are available and create a plan that best fits the client’s needs.
We Evaluate All Options
When I began my career and still today, I prepare an extensive spreadsheet analysis of the options available to the client. The difference between today and yesteryear, these spreadsheets encompass much more than just presenting a quote. I use them as a tool to evaluate all the options, based on looking at criteria such as benefits versus the premium and the financial exposure a person may have in a worst-case scenario. I can then calculate what the plan costs both the employer and the employee. The solution must be good for everyone.
ACA law requires insurance companies to quote the same premium for the same plan design based on the age of the person and their location. If a company has less than 50 employees and is fully insured, the cost of the plan is the same no matter what the agent is quoting. The only way the premiums would be different between agents would be if there was a difference in the census.
Braden Benefits is a NextGen Agent – we are invested in the future and solving the continued renewal cycle of increasing premiums and helping you evaluate ALL options. Contact us today to discuss the opportunities.