Benefit plus+ overview
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BENEFITPlus+ is a health insurance plan that allows employers to control costs while maintaining coverage. It combines elements of self-funded and fully-insured plans. By replacing a fully-insured high deductible health plan with BENEFITPlus+, employers can save 20-70% on premiums. BENEFITPlus+ works by having medical claims below a deductible amount paid through a third-party administrator instead of the insurance company. This reduces fixed insurance costs while still providing coverage above the deductible amount through the original insurance plan. The result is lower premiums for employers and employees while maintaining the same benefits.
Benefit plus+ overview
- 1. Has something been missing in your health plan? 64 % Did you know sixty-four percent of health plan participants use $500 or less of their health insurance?
- 2. 64 % That is a lot of opportunity for savings!
- 3. What is BENEFITPlus+? BENEFITPlus+ is a comprehensive plan that allows employers to maintain ACA compliance AND control healthcare costs while ensuring the desired level of benefits in today’s uncertain environment.
- 4. There are TWO major types of Group Health Insurance. Self – Funded Fully – Insured
- 5. BENEFITPlus+ combines the BEST of these two types. Self – Funded Fully – Insured
- 6. Advantages of BP+ Keep Same Level of Benefits Keep The Same Insurance Company (No Need for a New Enrollment) Save up to 20-70% on your Health Plan
- 7. BENEFITPlus+ is easy as 1-2-3-4. 1.Employee uses 2. Medical Provider Insurance Company ID bills Insurance card to obtain services. Company (Rx Card for Rx) 3. EOB/Claim 4. Our TPA Partner information is sent sends BENEFITPlus+ to our TPA Partner plan EOBs/payment to provider.
- 8. (Sample Scenario) OnceYourOPM covered byplan Fully-InsuredEmployer To keep the $1,000has a Healthin tact, theDeductible the company Deductible Plan with $1,000 Replacing yourreached, a Co-paya High aCoverage All services is current the with will be credited to would need to self-fund 100% Co-Insurance. Deductible and part of of up to 70% the will yield savings the High Deductible Plan pay ALL subsequentCoverage. will Fully-Insured HDHP claims. OPM=Out of Pocket Maximum Fully-Insured Doctor, Pharm HDHP Coverage acy, Urgent Care, Emergen cy Plan Risk “Gap” $7,500 HDHP $6,500 per $6,500 “Gap” Employee Employee $1,000 Same $1,000 Deductible
- 9. BENEFITPlus+ Partners with a preferred TPA. The Third Party Administrator pays all claims for the Plan and seamlessly integrates with your Fully-Insured Coverage. Fully-Insured Coverage TPA Administers claims $6,500 within this Self-Funded Corridor “Gap” $1,000
- 10. BENEFITPlus+ Summary High Deductible Health Plan Replaces current Fully-Insured plan, substantially reducing fixed Insurance Premium Preferred TPA Administers the High Benefit Employee HRA Plan Employer & Employees Save Money!
- 11. BENEFITPlus+ By Benefit Houdini A Better Business Bureau Accredited Company Contact: info@benefithoudini.com Phone: 402.882.0564 Fax: 866.299.4387