ClaimLinx Health Insurance Strategy

ClaimLinx Offers a Full-Service Insurance Strategy

ClaimLinx offers more than just a way to provide health insurance to your employees. We offer a holistic solution to give great benefits to employees while saving money for business owners. Our ClaimLinx Solution blends a high-deductible insurance plan with a company-funded medical expense reimbursement plan (MERP). The result is an optimized health insurance plan for everyone at your business. ClaimLinx explains how we make this full-service insurance strategy work in today’s blog.

High-Deductible Health Plan

A high-deductible health plan allows for lower monthly premiums. Lower premiums mean you pay less money to have the health insurance plan in place. Normally, higher deductibles mean employees must pay more money before insurance coverage begins to pay for medical expenses. But ClaimLinx has a different strategy.

In 2019, the IRS defined a high-deductible plan as one with at least $1,350 for an individual or $2,700 for a family. These minimums mean individuals must pay the first $1,350 of medical expenses before the health insurance plan starts to cover certain costs. But ClaimLinx typically chooses plans with deductibles much even higher to really slash expenses on premiums. This is a part of our full-service insurance strategy.

Related Post: What is an employer-sponsored, or self-funded, plan?

MERP

Employers can use a MERP to help fund an employee’s costs before reaching his or her deductible. When paired with a high-deductible plan, MERPs offer a health insurance strategy that is cost-effective for employees and employers. 

For example, John Smith goes to the emergency room for a minor injury and receives a bill for $2,500. His insurance carrier sends him an Explanation of Benefits (EOB) that says he owes the full amount because he has not yet met his high deductible of $3,500. John’s employer, Acme Brick, has a MERP that covers emergency room visits with a $350 copay. That means John only pays $350 instead of $2,500. 

The ClaimLinx Solution is a win for everyone. John Smith experiences lower costs for medical expenses. Also, John’s employer is happy because he can afford to offer such great benefits since the cost of the company’s monthly premiums has gone down so much. Our full-service insurance strategy identifies the optimal combination of high deductible plan and MERP.

Related Post: What Is a MERP?

How This Strategy Saves Money

A high-deductible health plan lowers the monthly premiums for each employer. Instead of paying $1,000 per month for a family’s coverage, an employer might pay $700. A MERP continues the savings because it’s a tax deduction. Every time an employer reimburses an employee’s medical expenses, it lowers the amount of money the IRS figures into business taxes. Business owners not only pay lower income taxes, but they also lower onboarding costs by retaining employees for longer periods of time. Employees who remain healthier are more productive and miss less work. ClaimLinx shows you how we deliver for both business owners and employees with our full-service insurance strategy.

The ClaimLinx Solution: A Full-Service Insurance Strategy

ClaimLinx is here to find the best possible solution for health insurance at your business. We educate business owners and employees on the best practices for combining health insurance plans with a MERP. Our team provides third-party administration, employer benefits consulting, and complimentary elite services to our clients. Contact ClaimLinx or call toll-free 1-800-858-1772 for more details about our full-service insurance strategy.

We are the full service insurance benefit solution

When it comes to a true health benefit solution, the work doesn’t stop with simply changing insurance carriers or establishing a new plan. Employees understanding how to use the plan and employers seeing the differences in coverage and cost are just as vital throughout the year as they are on day one.

That’s why it’s a priority for our team to provide the following elite services for all of our clients:

  • In-person or online education meetings
  • Claims reporting and analysis
  • Consulting for prescription drug use
  • Medical claim negotiation
  • Prescription drug rebate checks
  • Online enrollment for easy renewal
  • Adjustments to the schedule of benefits

Education is one of the highest priorities at ClaimLinx. We believe employees who are more informed about insurance become better health care consumers overall. That means they are better able to use the health plan and are getting more out of it. So we offer to all of our clients for a service team member to come to the company for an education meeting at any time.

Related Post: What is an employer-sponsored, or self-funded, plan?

We find education meetings to be the best way for employees to hear how their new plan works and what changes they can expect. Meetings can be done on location or online as a webinar.

Throughout the year we also focus on finding more ways to save money on the health plan. Cutting initial premium costs can often be just the beginning. We take a look at the company’s actual claims data to see where adjustments can be made to improve savings. Sometimes this means making an adjustment to the schedule of benefits, moving an employee to a better plan, applying for a prescription drug discount card, or other savings strategies.

Related Post: Why Insurance Rates Are So High and How to Start Cutting Them

But it doesn’t stop there. To help maintain costs on claims, we partner with a medical bill negotiator to ensure all high dollar claims are being charged correctly and employers are paying the lowest cost possible. This is an included service with ClaimLinx as the third-party administrator for the plan.

These continuous consulting and additional plan services that contribute to savings are only offered at ClaimLinx. Our experts are focused on constantly improving the plan for employees while ensuring the costs remain low.

 

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.

Related Post: What is a Section 105 Plan?

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.

ClaimLinx Individual Marketplace Available for Open Enrollment

ClaimLinx is pleased to announce to all of its clients that we have added a resource for individuals looking for coverage on the insurance market – www.ClaimLinxMarketplace.com.

Related Post: ClaimLinx Reaches Marketplace Elite Circle of Champions

This site is a one-stop shop for those looking to purchase an individual plan for themselves to:

  • See off-exchange insurance plans, which can have broader hospital and physicians networks and additional benefit options.
  • Easily compare pricing and plan options available through the individual market and through the federal exchange.
  • Speak to an insurance agent to complete the application process and discuss options.
  • Find additional insurance coverage such as vision, supplemental and life insurance.

Please feel free to share this resource with any friends or family looking for individual coverage during this year’s open enrollment period. Just tell them to go to www.ClaimLinxMarketplace.com to get started.

Related Post: Many State Health Insurance Marketplaces Will Exceed Requirements

As a member or administrator for a ClaimLinx plan, you will continue to receive the personalized service and/or benefits through the employer-sponsored plan. This is an additional resource for those who do not receive coverage through an employer.

Save

Getting the employer-paid benefits you want is important.

But for most employers making decisions about their health plan, it all comes down to one thing — the numbers.

Related Post: How does ClaimLinx save businesses money on health insurance?

And that can be a challenge today, with health insurance premiums continuing to rise. Many companies are being forced to strip health 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 ClaimLinx 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 health insurance 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.

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 (MERP) with all the benefits you’re used to, including lower deductibles and copays.

Related Post: How Coordination of Benefits Saves Money for Your Employees

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. ClaimLinx has a solution designed for you.

SET UP A CONSULTATION TODAY