If I have regular health coverage do I need any other insurance?

Having regular health insurance coverage is a good start. But when examining your overall personal profile, it is best to cover all the bases. ClaimLinx partners with consultants and brokers in the area who also offer products designed to enhance your existing health insurance coverage. Such products include supplemental insurance coverage, long-term care insurance, life insurance, tax consulting, and financial planning.

Related Post: ClaimLinx Glossary: Secondary Coverage

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What is a deductible?

A deductible is the specific dollar amount an individual must pay before a health insurance plan begins to reimburse a patient for medical expenses. The higher the deductible, the lower the up-front premium cost for a health insurance plan. The ClaimLinx Simple Option Solution teaches employers and employees how to utilize a health insurance plan for the best possible cost savings.

Related Post: Higher Deductibles Shift Health Costs to Employees

Is my information privacy protected?

Yes. Our employees strictly adhere to all HIPAA privacy regulations. Upon enrollment into the MERP plan, employees are asked to sign a HIPAA release form that ensures ClaimLinx follows all protected health information guidelines related to self-insured health plans. In addition, no proprietary information will be released to your employer without your notification. ClaimLinx maintains all personal information onsite and performs strict electronic security measures. Specific HIPAA regulations can also be found in the MERP document kept onsite through your plan administrator.

Related Post: What Does a Third-Party Administrator Do?

What is a Section 105 Plan?

Section 105 is a part of the U.S. tax code that allows employers to reimburse premiums and/or any health insurance costs tax-free to the employees. This part of the tax code has been around for more than 50 years. Many large companies have implemented a Section 105 plan, but this cost-savings measure is also available to smaller employers. For more information, contact the Internal Revenue Service (IRS) directly or consult your tax attorney. The ClaimLinx Simple Option Solution can show you how to take advantage of tax-free disbursements to your employees to lower your costs.

Related Post: Section 105 Plans After Obamacare

What is a MERP?

A medical expense reimbursement plan (MERP) utilizes Section 105 of the tax code, a provision that has been included for more than 50 years. A MERP allows business owners to deduct any portion of a medical expense for its employees. It includes any business with one or more employees, so any sole proprietor is able to take advantage of this code. ClaimLinx can help you find the best way to use a MERP to save money.

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