Benefits of Offering Health Insurance

No matter what size business you run, offering health insurance benefits your employees provides numerous advantages not only for the workers but also for the company itself. In order to get these benefits of offering health insurance, however, you need to understand how to choose the right plan. The help of an employer consultant like those at ClaimLinx can lead you to the right final decision.

 

Five Health Insurance Benefits for Your Business

 

When making decisions about the possibility of offering medical insurance to your employees, consider these important points.

 

1 – Employee Loyalty Increases

 

When it comes to a list of benefits that workers want, health insurance comes out on top. A paycheck is nice, but coverage for both preventative medicine and emergencies improve the overall impression that workers have for their employer. They also increase overall morale and productivity. A large part of having a successful business depends on keeping all the men and women who work for you happy and satisfied. Do not lose quality workers to other firms that offer more incentives than you do.

 

2 – Jobseekers Value Your Company

 

When you want to attract new talent, offering low-caused group health insurance makes your job opening more attractive to people who have choices. If it comes down to you or a different business, offering health insurance can push you over the top. Basic benefits may not be enough. With so many companies offering insurance these days, you need to make sure you provide the very best coverage at affordable prices.

 

3 – Decrease Federal Taxes

 

If you own or operate a small business with fewer than 25 employees working full-time, you can get considerable tax credits if you offer health benefits to them. Other rules apply to enroll in the Small Business Health Options Program, but you do not qualify all if you do not take advantage of group health rates that make it possible for your employees to get healthcare when they need it.

 

4 – Fulfill Government Requirements

 

The Affordable Care Act has a whole list of rules and regulations that affect how businesses provide healthcare benefits or insurance to their employees. In many cases, a company is required to offer a certain level of coverage depending on the type of workers they have, whether they are full-time or not, and other factors. If you have any questions about these requirements, it helps to speak with a qualified healthcare consultant.

 

5 – Smart Insurance Plans Decrease Cost

 

The final major benefit of offering health insurance at your company focuses on both the business itself and every single worker who has coverage through your chosen plan. As long as you make wise decisions about the policies and covered costs, everything from premiums to monthly bills to tax payments will decrease. When you choose to use an experienced and knowledgeable third-party administrator to handle all these matters, you end up saving even more in the long run.

 

Employers: call us for help cutting costs to get through “stay at home” orders

As of Monday, March 23, 2020, the Ohio Governor issued a mandatory “stay at home” order. It comes on the heels of previous business closures because of social distancing guidelines. Like in many states, the order will continue until the beginning of April. It’s all in hopes of stopping the spread of the novel Coronavirus.

But for many businesses it’s already causing severe financial pain.

Remember, ClaimLinx’s primary concern is savings clients money on health insurance. We know how important health coverage is, especially at a time like this. Our consultants are ready to talk you through how to cut employers’ health insurance costs. We know it’s more important now than ever.

Please contact service@claimlinx.com or call (513) 985-4465 to set up a meeting if you are considering laying off employees or cutting their hours.

Changes to Claimlinx’s Service

The mandatory “stay at home” order in Ohio, where Claimlinx’s main office is located, began on Monday, March 23 and will continue until April 6. Claimlinx employees are able to continue working remotely, but we are making some adjustments to our mailing services.

Because we are an Insurance Institution, we are considered an essential business, as outlined in the order. So we will still have some employees going to our office to maintain services. But we are limiting this as much as possible. For that reason, we do anticipate some delays in mailing. 

We expect this primarily to impact mailing explanations of benefits (EOBs) and member ID cards. Temporarily, we will be sending all member ID cards digitally first and sending a hard copy later. Members can always contact help@claimlinx.com if they need a copy of an EOB.

Related post: Changes for members during Coronavirus “stay at home” order

Contact us before cutting employees’ hours

Already we have had clients who are considering placing employees on furlough or moving them to part time. Our consultants already have strategies for how to use this time to cut costs while still providing benefits.

We are here to help companies get through this trying time. Many employers are worried about how long the pause in the economy will last and what affect it will have on their bottom line. We know, too, they are worried about their workers.

Contact service@claimlinx.com or call (513) 985-4465 to set up a meeting. Our consultants will go over your immediate options and any other long-term planning that may be needed.

Some employers may be able to take advantage of already existing rules on coverage to save on insurance premiums in the coming months. Some employers may need to stop providing insurance for any employees who are laid off. We would like to be there to offer our services to help these people navigate the marketplace so they don’t experience any lapses in coverage.

ClaimLinx is here for all of its clients, especially when trying to cut costs because of financial strains.

 

Changes for members during Coronavirus “stay at home” order

As of Monday, March 23, 2020 a mandatory “stay at home” order was issued for the state of Ohio, where ClaimLinx’s main office is located. To help prevent the spread of the novel Coronavirus, Governor Mike Dewine has mandated all nonessential businesses close their offices until Monday, April 6, 2020. Claimlinx employees are able to continue working remotely, but we are making some adjustments to our services.

Because we are an Insurance Institution, we are considered an essential business, as outlined in the order. So we will still have some employees going to our office to maintain services. But we are limiting this as much as possible. For that reason, we do anticipate some delays in mailing. 

Mailing is Changing

It’s a priority for us that our clients and members can access their health coverage services, especially during this time. But it’s also a priority for us to protect our employees. So at this time, we expect delays when it comes to mailing out member ID cards and explanations of benefits (EOBs).

When it comes to member ID cards, we will be sending first a digital copy for the member to use. Then we will send a printed version later. If any member would like a copy of his or her member ID, please contact help@claimlinx.com or start a conversation with a team member now using our Live Chat feature.

Because we do not want too many people in our offices at once, we do expect to have some delays when it comes to mailing documents to members. If you have any questions about a claim or would like to receive a copy of your EOB, you can email help@claimlinx.com or start a conversation with a team member now using our Live Chat feature.

Contact and Processing Will Continue

As employees are able to work remotely and take turns going to our office, we are not anticipating any delays in claims processing at this time. We have worked hard in the last two years to make this process mostly digital. So our claims processors are expected to be able to continue without much interruption.

Related post: Claims processing continues during Coronavirus outbreak precautions

There will continue to be service team members available if you have questions about coverage, a prior claim or if you need a copy of your member ID. As is always the case, if you are sick or in need of medical attention, please contact your provider first.

We would also like to remind our members that local cases of the virus may be putting a strain on the healthcare system in your area. This may have an affect on your regular care. Please be proactive about checking with your provider about changes to any necessary upcoming appointments.

Your local pharmacy may also be experiencing limited hours or delays in filling regular prescriptions. Please check your stock of any regular prescriptions. Be sure to have them filled as early as possible to avoid any interruptions.

Please also remember that members still have access to the member portal for the remainder of March. That means you can still check on claims or print any important EOBs. Starting April 1, 2020, all members will need to reach out to our team directly to get these documents.

Related post: Member portal will be unavailable temporarily

ClaimLinx will continue to communicate with members via email and through our website. Please look for any updates there. Stay healthy and we hope these interruptions in service for all of us are as short as possible.

Claims processing continues during Coronavirus outbreak precautions

It’s an unprecedented time for all of us, but Claimlinx will continue business processes without interruption. There are a lot of changes to daily life for many across the country because of the national outbreak of Coronavirus. Our service teams would like all of our clients and members to know that we will continue to be available during regular business hours.

No Changes to Regular Processes

At this time, ClaimLinx employees are prepared to continue service to clients and members as usual. Our teams are able to work remotely or in offices distanced from each other so as to comply with the social distancing rules outlined by the Center for Disease Control.

That means claims will continue to be processed on schedule. Team members will also continue to be available by phone, email and live chat. We will be maintaining our regular office hours for questions about claims, coverage or other issues.

Related post: How a claim is processed

However, we will be suspending any in-person education or renewal meetings with the service team until further notice. Administrators may contact service@claimlinx.com, if they have not heard from our team already, to talk about alternative options for any upcoming meetings already scheduled.

Changes to in-person meetings are the only adjustments to our services anticipated at this time, though.

Other Precautions You May Need to Take

We encourage all members to be aware of the strain an increase in local Coronavirus cases would put on the healthcare system. That may include both hospitals and providers’ offices. That may mean you may have to reschedule appointments or other planned procedures.

Related post: Avoid surprises on medical bills by preparing for visits

Please also think about any regular prescriptions you or your family members may need in the coming weeks. Many stores have more limited hours, or may be experiencing a higher than normal number of customers.

The healthcare providers in your local area are likely to be changing their approaches quickly as this situation evolves. Please be proactive about any regular services you or your family members may need. Contact your provider’s office about any changes they may be making in the coming weeks.

Resources Are Available

You may to the Center for Disease Control for any guidance on symptoms, protecting yourself and number of cases in your area.

We know this may be a challenging time for many of our clients. But the one thing they will not have to worry about is claims processing. There should be no interruption in our services, but please look out for any future communications from our team members.

 

 

What is a Pharmacy Benefit Manager (PBM)?

Small businesses that want to save money for themselves and their employees on health insurance coverage may choose a pharmacy benefit manager (PBM) to facilitate smoother prescription drug claims and payments. This type of administration assistance provides various benefits that can save time, headaches, and money in the long term. Before you decide if your small business insurance package should include a pharmacy benefit manager or not, explore all the options so you can truly understand what it can bring to the table.

Pharmacy Benefit Manager Responsibilities

 

In order to offer a viable service as a PBM, the organization must take on certain responsibilities when it comes to interacting with both your small business and see people who take prescription medications specifically.

 

  1. PBM’s negotiate lower costs and rebates for available prescription drugs.
  2. They offer mail order and delivery medication services that allow patients to receive their drugs in a convenient and affordable manner.
  3. They oversee compliance of proper medication usage and collect and analyze data about ongoing utilization of prescription drugs to promote better outcomes.
  4. A pharmacy benefit manager handles distribution of medications from multiple pharmacies and through different small businesses just like yours.

 

Depending on the PBM you choose and the insurance consulting process specific to your company, they may also take on extra responsibilities that help your workers stay healthy without breaking the bank.

 

Save on Small Business Insurance With a PBM

 

According to current business guidelines, small business insurance is required for full-time employees in most cases. Choose the best possible group health insurance plan is a great way to save some money for your company. This also affects how well your employees are cared for when it comes to medical issues and preventative care.

 

No matter what type of insurance program you choose, it always makes sense to look for additional avenues of savings to improve your company’s bottom line. A pharmacy benefit manager introduces an organizational middleman that minimizes costs by reducing base costs, paperwork, and problems related to handling prescription drugs.

 

PBM’s have been around for nearly 20 years and have become more popular as different health insurance rules go into effect. These management groups can negotiate lower costs, which helps both the business and the patient at the same time. This savings and associated services help to improve medication compliance, access to ongoing prescription support for lower income individuals, and improve outcomes for many chronic disease or disorder sufferers.

 

The decision to augment your small business insurance with a PBM depends on a lot of different factors specific to your company, finances, and employee base. Although the responsibilities and advantages of using one may seem like an exceptional idea, you may need some help to finalize the decision. With professional insurance consulting services offered by ClaimLinx, you can explore the specific options that can help you manage prescription coverage, minimize risk to your employees, and save you money on your benefits packages.