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Why Choosing The Right Health Insurance Partner For Your Business Is Important?

by ClaimLinxJune 6, 2022August 1, 20222 Comments

Health Insurance is one of the primary incentives for employees to join any business. Over the years, more and more employees are beginning to look for jobs with health benefits as it helps mitigate large healthcare expenses over time. But with so many types of insurance options out there, businesses can find it difficult to determine which type of business health insurance is best for them.

Finding top tier talent is difficult enough as it is, but if your business does not offer market competitive health benefits, you’re going to find it much more difficult to attract quality talent to your business. Many small business owners struggle in finding the right business health insurance partner to match their needs.

Here are some things you need to consider to find the right business health insurance partner:

1. Plan Type and Specifications:

Professional Employer Organization (PEO): Small businesses can opt for PEO’s to offer health insurance at bulk pricing, thus making it very affordable to everyone.

Fixed Plan for Contribution: The employer opts to allow employees to make the choice of plan that fits their requirements.
Fixed Plan for Benefits: This is the most common type of business health insurance where businesses provide the same type of coverage to all employees through bulk pricing.

HMO’s offer organizations affordable prices, but the options for employee healthcare can be limited. Instead, a Preferred Provider Organization comes at higher premiums but offers more benefits. There is also a third option called ‘Exclusive Provider Organization’, which is a combination of PPOs and HMOs. No referrals are necessary, and employees have to stay within a fixed network of specialists.

2. Plan Costs

Businesses nowadays are looking to mitigate costs, to increase profitability. However, since the decision of selecting a business health insurance provider involves the wellbeing of your employees too, you will have to find an affordable plan that provides the coverage you need. Consider the plan cost, what your company has to spend, deductibles and what deductions employees would have to bear. The primary goal is to provide as many benefits as possible at the lowest cost. Which is why doing market research or hiring a healthcare consultant for businesses is an excellent option.

3. Understand Coverage

Reading through the entire coverage fine print is essential when finalizing a business health insurance provider for your business. Analyze what the plan does not cover, which healthcare professionals does it give access to, and what restrictions apply. Also, reading up on reviews can help learn more about how fast the reimbursement process would be for certain scenarios.

4. Analyze Competitors

Many businesses tend to overlook this key strategy. Since the labor market is highly competitive, offering better benefits than your competition could attract talent towards your organization. Employee expectations can also be fully understood once you see what the market trends are. Adding different incentives can play a huge role in retaining and attracting talent within your business.

Reasons To Choose Claimlinx For Health Insurance In Ohio

by ClaimLinxJune 23, 2021July 23, 2021Leave a comment

Claimlinx Insurance Options

There are a variety of options that you can use to meet your insurance needs, no matter what your family situation and budget. Here are just a few of the most popular plans Claimlinx can help you get for your business, along with their benefits.

Flexible Spending Accounts (FSAs) is the plan in which you and your employer will be able to save tax-free money to cover health care. Money can be deducted from your salary if you want to.

According to the rules for the employer, He is not going to be able to transfer any unused funds to the next year. You can extend it to a certain amount.

Claimlinx provided amazing services to its customers to help them with deposits, withdrawals, and other necessary issues and assistance.

February 18, 2021. The Internal Revenue Service has provided employers with the option to transfer any unused amounts from 2020 and 2021 within an FSA plan due to the pandemic. They can also change the extension of the exposure period, the FSA plan year 2020, 2021, allow the retirement of the FSA plan to be eliminated, and leave in the middle of the year.

Health savings accounts (HSAs) are similar to FSAS, but the money is only to be used for medical expenses. People also use this account to raise money. The advantage of this is that you can still save money on a tax-deductible, as well as the use of lower-cost health insurance to high-risk. Insurance premiums for HSA plans are not taxable.

Health Reimbursement Agreement (HRA) plans are available to employers who can’t afford to get all the health benefits, but it provides some support to the health services providers. Employees will be paid by a pre-determined amount of money for special medical expenses for themselves and their families. The reimbursement of expenses for professional medical care is not subjected to tax.

The Health care Organization to Plan (HPO) provides comprehensive health care at a low cost by allowing participants to make use of the health care providers in the healthcare organization. The cost savings from the HMO plans can be significantly high.

A Preferred Provider Organization (PPO) plan is similar but has a bit more flexibility. With a PPO, you can go out health care organization for service, although a smaller proportion of the costs will be covered if you have to do it.

Services for Our Members

Claimlyix has a wide range of services for its clients. On the website, you will find the answers to all your questions, and find out the cost of a medical procedure, details of your subscription, you can make changes to your coverage plan, you can check the status of your application, find out the status of your account, you will get a replacement member ID card to gain access to all of the benefits and services to you.

An insurance shakeup? Three American corporations join forces to tackle healthcare

by Christopher RoachJanuary 30, 2018December 4, 2019Leave a comment

Amazon CEO Jeff Bezos, Berkshire Hathaway CEO Warren Buffett and JP Morgan CEO Jamie Dimon are joining forces to launch their own healthcare company, according to a press release today on Business Wire.

The goal of their new joint venture “is to create solutions that benefit our U.S. employees, their families and, potentially, all Americans,” said Bezos.

But what does that mean for everyone else in the health insurance industry?

Right now — nothing. Aside from a quick, and might I add pretty painful, hit to stock prices of insurance carriers like Cigna, Aetna and UnitedHealth, there won’t be any immediate repercussions.

What can be speculated though is that these three enormous companies will make potentially huge waves as they pull employees off current major carriers’ services. Depleting members reduces the pool of money that insurance carriers will have for their own claims and administration. If the majority of those leaving are young, healthy people, some Americans could see an increase in costs for their insurance plan — on top of already rising prices in the industry overall.

On a more positive note, new enthusiasm and innovation might just be what the industry needs. Having new blood in an incredibly old, often entrenched system might spur creative strategies to encourage savings. Major carriers across the country will have to do something to shore up for the changes this new company could bring.

Ultimately employees of the three companies will benefit first as the new healthcare company will be staged to take care of just them as a starting point. If Bezos statement rings true after this initial step, it may benefit “potentially, all Americans” by providing healthy competition into an ever-shrinking market.

Changes to Our Phone Operating System

by ClaimLinxJanuary 19, 2018December 4, 2019Leave a comment

Last week ClaimLinx conducted a trial of a change to our customer service phone operator from a local attendant to an auto attendant. We believe this transition will ensure members and administrators will reach their desired departments faster, and with less front-end explanation.

This change will remain permanent for the foreseeable future. We have already seen an improvement in our call efficiency. We have found members are able to reach the claims department quickly, without having to explain their issue to multiple people.

Below are the options all callers hear when reaching the general ClaimLinx customer service numbers, (800) 858-1772 or (513) 677-6262.

Dial 1 – If you are a member or provider’s office calling about claim status, benefits or eligibility
Dial 2 – If you are an administrator or broker
Dial 3 – If you are in need of insurance
Dial 4 – Lisa Grubb, ClaimLinx Health Insurance agent
Dial 5 – Kathy Durnell, ClaimLinx Health Insurance agent
Dial 6 – To reach accounts receivable
Dial 7 – General mailbox

Administrators and members can still reach specific ClaimLinx team members by dialing their extensions or their direct lines.

Change

by ClaimLinxNovember 17, 2017December 4, 2019Leave a comment

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 health insurance plan?

Most companies still purchase their health insurance plans the same way they did 10-20 years ago. They go to an insurance agent and choose a traditional group health insurance 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 ClaimLinx Simple Option Solution, a plan that combines a high-deductible health insurance plan from a major carrier with a self-funded Medical Expense Reimbursement Plan (MERP). The trick is to take the best of both types of insurance.

From the high-deductible plan with a carrier, you 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 the ClaimLinx Simple Option Solution offers an opportunity to take the savings and reinvest it in employees’ benefits or anywhere else in the company.

Stop paying for insurance the same old way and see what a change can do!

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