Savings creates opportunity to reinvest in employees with Aflac

ClaimLinx and Aflac – they go together like salt and pepper. Good on their own but even better together.

As experienced consultants, ClaimLinx shows businesses how to save money on their health insurance. Using a unique, time-tested strategy for purchasing benefits that combines traditional insurance through a major carrier with a self-funded plan, businesses can save 20 percent on their health insurance plan.

But what should owners do with all that savings?

We suggest taking that cash and reinvesting it in employees. The lower fees for the health plan easily free up funds to start a Benefits Bank with enhanced coverage through Aflac.

Owners can choose plans for employees or set up a specific dollar amount and let employees choose which coverage they would like for themselves and their families.

Aflac has so many insurance plans available there’s something for everyone. Employees can choose from options like accident, life, critical illness, short-term disability, dental, vision and more. And the best part is employees also get the exclusive perks Aflac provides, such as a wellness benefit, one-day pay and a wide range of coverage options.

Supplemental insurance is often an important component to having a complete plan should tragedy strike for an employee. It can be a vital source of funds if gaps in coverage on a regular health plan occur. After all, the last thing anyone wants to worry about during an emergency is how to pay for care.

It sounds like a luxury for most employers – providing that level of coverage. But it doesn’t have to be.

Because ClaimLinx helps lower the cost of the overall health plan. Then the additional coverage through Aflac is purchased with pre-tax dollars. That means at no extra cost than your current health plan, you are able to not only keep current employees happy by improving benefits but also increasing your competitiveness in the job market.

So with all these additional benefits, can you really afford not to make the switch?

ClaimLinx solves spiking insurance premium problem

Cincinnati business finds ways to save on employer-sponsored health plans

CINCINNATIDec. 13, 2017 /PRNewswire/ — Right now at small businesses all over the country, administrators are making a grim choice – cut benefits for next year’s insurance plan or face strained resources to cover their premium increase.

Premiums for employer-sponsored health benefits for 2018 are expected to be the highest since 2011, according to the human resources consultancy Mercer’s 2017 National Survey of Employer-Sponsored Health Plans.

Blame it on Washington, D.C., blame it on insurance company stakeholders, blame it on anyone who unjustly seems to pull in profits through the industry. It all adds up to one thing: employers and their employees are continuously being asked to pay more to receive less.

But for one company in Cincinnati, this is a problem with a simple solution. ClaimLinx, a full-service consultant, insurance agency and third party administrator, has pioneered new ways of purchasing health insurance so companies can cut costs without sacrificing benefits, such as increasing deductibles or copays.

“Our whole goal is just to save people money on their health insurance – it’s hard sometimes but when we do it’s incredible what it can do for a business,” said Christy Quigley, President of ClaimLinx.

They do this by combining a high deductible insurance plan through a major carrier — Anthem, Humana, Aetna, Cigna — with a self-funded medical expense reimbursement plan.

The trick is to take the best of both types of insurance.

From the plan through a major carrier the company receives resources, including a wide physicians network, competitive discounts on procedures and a stop loss in case any employee has high medical costs.

From the medical expense reimbursement plan the company has the ability to customize its own copays and deductible while still receiving the tax benefits exclusive to a self-funded plan through section 105(b) of the IRS code.

Tom Quigley, National Business Consultant at ClaimLinx, said he sees business owners struggling with decisions about their plan every day when they don’t need to.

“What it really boils down to is a math problem. The problem is it can be hard to take the emotion out but you really have to when it comes to your benefits.”

For more information go to www.claimlinx.com or inquire directly to Whitney Faber at wfaber@claimlinx.com or (617) 892-4655.

View the published press release.

Save

Getting the benefits you want is important, but for most employers making decisions about their health plan it all comes down to one thing — the numbers.

And that can be a challenge today, with insurance premiums continuing to rise; many companies are being forced to strip plan benefits or raise employee contribution levels.

That’s where ClaimLinx comes in.

With our strategy for buying health insurance, you no longer have to choose between offering low copays and deductibles and keeping premium costs within your budget. You can do both.

On average our customers save 20% on their health insurance costs within the first year. That’s without changing the company’s current deductible or other benefits, but simply making a change in how they are purchased.

The key to our trailblazing Simple Option Solution is centered on making sure businesses are only paying for the benefits their employees are actually using. That’s where so much of the additional cost for a traditional plan with a major carrier comes in; they’re charging you for services they assume you will use. Services the average employee just doesn’t need.

So with ClaimLinx you still purchase a plan with a major carrier but make it a high deductible plan, without all those benefits overcharged through the insurance company. Then we add a self-funded Medical Expense Reimbursement Plan with all the benefits you’re used to, including a lower deductible and copays.

Your employees won’t see a change in how much they pay when visiting a physician or facility, but your company will save monthly on premiums and overall health insurance costs. So if you’re going to make a decision based on numbers, make sure they’re the right ones.

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Change

Everywhere we look now the business world is changing. New technologies, innovations, different customers, expectations. It’s all constantly evolving. So ask yourself this question: if markets are evolving, why isn’t your insurance?

Most companies still purchase their health plan the same way they did 10-20 years ago: going to an insurance agent and choosing a traditional group plan through a major carrier.

But what if we told you there is another way? That instead, you could have a real solution for your company’s health insurance. One that consistently balances employee needs with your budget, rather than the other way around.

What this requires is a new way of thinking about purchasing benefits. We call it the Simple Option Solution, a plan that combines a high deductible insurance plan from a major carrier with a self-funded Medical Expense Reimbursement Plan.  The trick is to take the best of both types of insurance.

From the high deductible plan with a carrier receive:

  • Wide physicians and facility network
  • Discounts on office visits and procedures
  • Stop loss in case an employee has high medical costs

From the Medical Expense Reimbursement Plan receive: 

  • Customized copays and deductible
  • Real data on employee usage
  • Tax benefits of self-funding your medical plan

Purchasing health insurance this way means you’re able to cut costs because you’re no longer prepaying the insurance company for services employees don’t need or use. It’s a way of redistributing the funds for your plan so you can get the most out of it.

Not only that, but also our solution offers an opportunity to take the savings and reinvest it in employees’ benefits or anywhere else in the company. So stop paying for insurance the same old way and see what a change can do.

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Talk

When was the last time your insurance broker or agent sat down and analyzed  your company’s plan usage, employee demographics and overall benefit goals? Maybe never, maybe once a year, maybe you’re one of the rare people that has an agent that looks at this quarterly.

But we’re willing to bet none of you have ever had an agent or broker actually bring you a DECREASE in your overall plan costs.

That’s something only a true consultant like ClaimLinx can do.

We offer to all of our clients:

  • Plan analysis from a consultant when making benefit decisions
  • Personalized service from a team with experience
  • A customized benefit plan just for your company
  • Annual savings on a comparable plan

Our highest priority is to make sure our clients receive the benefits they want at the very best price possible.

We do this through our unique Simple Option Solution, an innovative strategy for purchasing benefits that combines a high deductible plan from a major insurance carrier with a self-funded Medical Expense Reimbursement Plan (MERP). That way you get the best of both.

The high deductible plan provides a comprehensive physicians network and a stop-loss in case an employee has high medical costs. The company MERP provides the benefits people are used to, including a lower deductible and copays for regular office visits and procedures. That way you’re always only paying for the services your employees are actually using.

But it’s not just about getting benefits at a great price. It’s also about having a resource and true ally in an ever-changing industry. With our solution, clients have the opportunity to make benefit decisions based on employee usage and company priorities. We aim to finally close the gap between your ideal benefits package and what your budget will allow.

SET UP A CONSULTATION TODAY