Services - Major Medical Insurance Management

With all the new developments in this critical employee benefit, there are some exciting opportunities to provide employees great benefits at significant cost savings to employers. Companies with less than 50 employees have less options but employers with more than 50 employees can take control of this all critical employee benefit and compete with Fortune 100 employers.

Major medical insurance is being revolutionized under the Affordable Health Care Act. There are limits on what insurance companies can charge for their services and for the first time in history insurance companies have refunded premium money to insureds in 2011 and 2012 plan years. They have to limit their charges to 20% of premium collected.

This is a significant change that drastically cuts into their profits. Risk coverage and claims paid should be at least 80% of premium collected. For employers with more than 50 employees, it is now possible to design and offer plans that meet the needs of employee demographics with deductibles and maximum out of pocket limits that work for the team. Health Savings Account compliant plans offer employees the opportunity to save over $2,000 in taxes - potentially covering more than the average family medical charges. The resultant savings to employers is significant as well.

Affordable Health Care Act allows 20% of premium towards administrative and management costs, companies can do better than that. Our plans do this at an average of 7% of total premium charges.

Risk can be managed at a competitive cost. Depending on company size and employee demographics, this is optimized.

Claims adjudicated through strong network agreements keeps claims at lowest levels, with best network of service providers.

Overall costs over 3-5 years can be almost flat or reduced.

Savings through consistent management will be retained by employers, this is an amazing benefit. For more information and to schedule a meeting call us on (703) 463-9469.