IT ONLY WORKS IF YOU APPLY IT
This guide is for companies and organizations that are offering group to their employees and need a means to control cost without compromising quality of benefits. For employers under 50 full time equivalent (FTE) looking for a way to provide benefits to their employees, we strongly urge you to look into Health Reimbursement Arrangement (HRA) as many carriers require at least 75% participation on the initial enrollment for the group which can be cost prohibitive for most.
RENEWAL CASE SCENARIO
Every year all across the country, employers are renewing their benefit plans with no idea how to reduce their cost apart from their benefit broker sound advice until now. You get contacted by your agent, and this is pretty much how it goes
it's that time of year again, rates are increasing did you want to make some changes.
These changes are typically diminishing plan designs to offset the renewal increases. They will come up with plans, and offer you a set of choices and if that has been the case, you need to get off of the hamster wheel.
HERE'S HOW TO DO IT
NOTE: This works for companies and organizations NOT using a Professional Employer Organization (PEO) if you are, you probably understand why. If you are using a standard broker agency, this will work beautifully. This only works if your group is structured as an AGED RATED plan type
- First download our proprietary tool by clicking here
- Ask your benefit broker for all of your renewal rates
- Make certain to use AGE RATES on your renewal rate sheet
- Use our tool to plug in your rates it auto calculates your totals (Its a fairly simple tool to use)
- Compare plans and types, use higher deductible plans for older employees
- Lower cost and increase tax savings by setting up employer Health Savings Account here
EVERY CHEF IS NOT A MASTER CHEF
Just because someone knows a recipe doesn't necessarily makes them a master chef, so is the same of the insurance benefits industry. It requires a highly fine tuned skill set, to navigate all of the complexities of laws, tax advantages and knowledge of carrier plans structures, designs and so much more to leverage our knowledge to our clients ultimate benefit.
MMHIA has shave out millions of dollars in benefit cost, without comprising the quality of benefits, for our strategic partner alliance clients. How? Because we are health care reform experts, who happen to be benefit insurance professionals. We would encourage you to get the information to understand how we are able to accomplish it. To begin.......
Optional, but highly
*Benefit brokers rarely discuss with their clients ways to structure their plans to maximize benefits, and control cost. The strategy laid out in this guide, allows the employer to take control of cost rather than relying on the broker of record to dictate what is affordable and what is not. The employer will understand how plans are designed and what to do to work within the frame of that design to curtail cost.
This means you can know with confidence that you have the final say on what your plan should look like, how offering of the plan will increase participation, without the additional cost, when structure properly