as an alternative to group health insurance, small businesses to their employees individual health insurance goes. Here are three ways the employees individual insurance premiums interfere small business health insurance industry to report.
1. Individual Health Insurance Increases Health Insurance Flexibility and options for small businesses
Individual health insurance is a policy which, by a person and their family, based on their personal needs and budget as car insurance is purchased. Company employees can for their individual health insurance premiums reimbursed by a premium refund to implement the program. To set this, the company must first decide how much they are to employees contribute health insurance costs ". This allowance or" defined contribution "may be the same for all employees, or it may vary depending on employee class and / or family status differ
1. more satisfied employees. employees choose the health plan that best needs.Individual insurance offers more choice and control to employees by allowing them to choose a plan, " their families fit that matches their own needs, including coverage and network. Employees can decide their own plans to work with their budget. These plans can be adapted to individual circumstances and age.
For example, when a young employee is relatively healthy and on a tight budget, a plan with a lower premium and higher deductible may be the right choice. On the other hand, older workers or workers with more healthcare needs, a plan with a higher premium and lower deductible can better plan the.
2. Controllable costs: catching fix companies to put their money by exploiting the situation, and predict all the health benefits costs is revolutionary for many companies "defined contribution approach. ". Reimbursement of employees individual health insurace companies are controllable costs of:
- set
definition of its budget by the amount of contributions to employees. "Health care
-
Giving employees access to monthly health supplements.
-
allowing employees to choose their own individual health insurance.
-
only reimburse employees for eligible health insurance premiums up to the amount in their health allowance
3. More time:. with a credible premium refund software provider, takes premium less than 5 minutes per month online to manage. Some companies consider self-administer a premium refund plan without compatible software. However, still expensive in accordance with regulations and healthcare reform, time consuming, and administrative expenses.
credible premium reimbursement software provider eliminates the time to offer cost and administrative burden health benefits. Companies that can filter reimbursement software provider a premium expect:
-
Spend less than five minutes per month reimbursement plan administration
-
Have they have access to their refund plan 24/7 online
-
Integrate refunds with their existing payroll system and HR processes
2. Individual health allows small businesses from the health insurance
reimbursement of employees individual health insurance allows small businesses to receive from the health insurance, so that they concentrate resources solely on your business. Instead the specific plan / s for employees choosing the company health allowances and staff offers can shop for a policy that matches your needs best. This is a more hands off approach than small health insurance industry business is used. Here's how small businesses out of the health insurance business with individual health insurance .:
Step 1 always - cancel the group health insurance plan of small business (if one is available)
step 2 -. implementation of a premium refund plan, the employees monthly health certificates to spend health insurance
Step 3 is - working with an insurance broker employees in buying individual health insurance by health insurance marketplaces, by a private exchange, or direct support of a carrier
step 4 -. Refund employee payroll tax-free up to the amount in their health care situation of the bank.
3. Individual Health Insurance Reduces Small Business health insurance costs
One of the main reasons why companies Insurance Group Health is canceling that on average individual health insurance costs up to 60 percent less than group health insurance , Employees can for premium tax credits to qualify depending on their level of income, household size and suitability for other state-funded programs. Other factors that may affect the cost of individual insurance, include:
-
Location (State / County)
-
age
-
type of health plan selected (coverage, carrier, etc.)
-
tobacco use
In the federally-run marketplace, 87 percent of those who received selected a health plan premium tax credits and pay an average of 82 $ / month. While the average premium is $ 346 / month, bringing the premium tax credits, the cost significantly.
Enter The Market Place, the second year of operation, more large health insurance companies are entering the marketplace or expand their presence there. The increased options in the marketplace mean of more individual health plans and to choose more competition. This increases competition among carriers will help keeping low in 2015
0 Komentar