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3 Best Health Insurance Plans For Small Business Owners

by ClaimLinxSeptember 10, 2021September 30, 20211 Comment

The terms of Business provided health insurance have been altered since the Affordable Care Act (ACA). If you have more than 50 full-time workers, you must offer health insurance to them that is affordable. The threshold set in the ACA is that they cannot spend more than 9.5% of their earnings for an insurance plan. If these laws are not abided by, business owners have to pay penalties to the IRS.

Even if your business does not have 50 workers, there are numerous reasons why you should consider offering health insurance. These include employee motivation, tax incentives, ease of recruiting etc. Finding the right plan for your business, however, may be tricky. This article aims at assisting small business owners in finding the best insurance plans for their needs.

3 Best Health Insurance Plans For Small Business Owner:

Small businesses with lesser than 50 hands don’t need to offer health insurance, but delivering hands with some type of health content can help you get and retain quality hands.

In this article, we will give you the report containing the best health insurance options that you would give to your employers to get the advantages that you want to attain.

Health Insurance Options:

There are various well-renowned insurance agencies that offer alternatives to traditional plans as customized plans to fit your needs. Agencies such as Mira can easily protect the necessary services at very affordable pricing.

MIRA

Without violating laws of labor, this can be recommended to part-time Employees and Contractors.
Costs more than 10x less than traditional plans
This is very useful for contractors or short-termed employees because the transfer is very easy, you can easily transfer one employee license to the other.
$300 is very little as compared to the $50000 per year traditional insurance plan.

Another best network recommended for a small business owner is United Health Care.

United Health Care:

United Healthcare is a huge insurance provider that is currently catering to many small business owners and has over 1.2 million providers listed within their network. Around 2 years ago in February 2019, a civic judge passed a ruling that the company was treating cerebral health and substance use treatments ineffectively. Since this, United Health Care has taken many steps to improve its services by launching virtual behavioral health care services.

All 50 states of the world have United Health Care and it is operating worldwide. Their database consists of 5600 health care clinics and they provide access to over 2.5 billion healthcare co-workers.

UHC started its business in 1977 and has a high rating. Their operations have been nothing short of excellent with customers posting raving reviews on all online channels. With their commitment to constantly improve, they spend every year nearly about $3 billion on research and development. The program of small business the company contains very unique tools.

If your business consists of 3-50 employees, this may be the best option for you. All the relevant information is readily available online. You can get access to reports, FAQs and recommendations! Be sure to check out the services and prices in your location, as it varies from location to location. Reach out to a representative to discuss the needs of your company, and you’ll get an affordable tailor-fitted insurance plan in no time!

Pros:

The following are the pros of the United Health Care:

This company is very transparent and you can easily compare plans online.
Costly contributor network
Creative Health care mechanics

Cons:

The following are the cons of UHC:

Customer Services might be very difficult to reach
Mental health reports have had issues in the past

The next provider that we’d recommend is HUMANA. It is an excellent option for small business owners looking to buy affordable policies for their employees.

Humana:

Humana is also included in the insurance provider list that gained a top mark in that list. Humana is an American Insurance company found in Louisville, Humana is the company that made remarkable rank in the health insurance companies of Kentucky, i.e. 41 out of 500. Humana is also present in 50 states of the world and numerous companies have Humana as their main insurance provider. The customers of Humana are very happy with its services because of the extra advantages that it offers over other insurance companies.

Pros:

· Extensively present across the country:

Humana is present mostly in every country. The advantage is that you can find Humana’s insurance in every state

· Humana’s Pharmacy:

J.D.POWER appreciated the pharmacy of Humana and labeled it the number one pharmacy in insurance companies.

· Superior quality plans:

Humana never compromises on quality. 90% of Humana’s centers are ranked 4 stars out of 5 online.

· Low cost of Humana at Walmont:

Humana offers the best prices for prescriptions at Walmont when members buy.

· Powerful Customer Services:

Their customer services are renowned worldwide. Issues and queries get resolved instantly.

Cons:

There are some plans that don’t offer coverage for prescription drugs:

While there are numerous Humana Medicare Advantage plans that provide coverage for prescription drugs, not all of them do. You should ensure that the plan you get covers your prescription needs. If not, you may need to bear extra costs to get your prescriptions

Plans For Special Needs Are Not Available In All States:

Although they have widespread coverage, not all 50 states have special needs plans. According to research conducted in 2020, only 20 states offered special needs plans. Reach out to a representative to confirm whether your location has access to special needs plans according to your requirements.

Not All Areas Offer Zero Premium Plans:

One major incentive for individuals to choose this agency is the ability to purchase a plan with zero premium. However, many states do not offer this option, As there is limited availability of these plans in different locations, it is recommended to review each plan carefully to see if you’re getting the best deal before signing up.

Everything You Need To Know About Unitedhealthcare Insurance

by ClaimLinxJune 5, 2021July 23, 2021Leave a comment

Among the top five insurance companies, UnitedHealthcare is one with a lot to offer to you. Following are few important things you might want to know about UnitedHealthcare.

Business Fundamentals

With its headquarters in Minneapolis, UnitedHealthcare works under the supervision of the parent company, UnitedHealth Group. UnitedHealth Group started its operations in 1974 under the name Charter Med by a group of medical practitioners and doctors. In 1977, The United Healthcare Corporation was set up and became the parent organization of the Charter of the Med. In 1998, the United HealthCare Corporation known as the UnitedHealth Group started with six independent business divisions, one of which is UnitedHealthcare Today.
UnitedHealth Group is the second support line to Optum, a medical services platform, offering solutions for the people and the administration of the health care setup. Optum has three platforms-OptumHealth, OptumInsight, and OptumRx to provide health management services, consulting services, and management services, respectively.
David, and Wichmann, President, and Chief executive officer of UnitedHealth Group, are currently monitoring UnitedHealthcare’s business. He took up the position in February 2015, the then-UnitedHealthcare CEO of Gale Boudreau stepped down from her post for unknown reasons, after serving in the post since 2008.
UnitedHealth Group consists of approximately 168,000 people in 21 countries, including us, Australia, Canada, China, India, the Philippines, Ireland, Italy, Luxembourg, and the United Kingdom.

Financial statements

In the first quarter of 2015, UnitedHealth Group (including Optum financial), reported a turnover of 35.8 billion, which is 12.6% more than in the first quarter of 2014 i.e. $31.8 billion. In the first quarter of 2015, UnitedHealthcare’s revenue was 32.6 billion, which is 11.3% more than in the first quarter of 2014. UnitedHealth Group’s earned $1.4 billion in the first quarter of 20210, in comparison with what it earned in the first quarter of fiscal 2019 that is $1.1 billion.
Over the past three years, UnitedHealthcare has nearly tripled its payments to suppliers based on the costs incurred, which now amount to about $37 billion. The payer is expected to double that number in 2018, it paid $65 billion and is bound to have a better quality of results.

The information of the members

UnitedHealthcare is one of the largest networks with 45 million members around the globe. UnitedHealth Group’s services are in more than 6,100 hospitals and 855,000, doctors and health care providers.
UnitedHealthcare offers health benefits in five different groups. The heads of state and heads of government of the plan, the payer has to provide information to help manage the authority of solutions for the government’s Medicaid program. Both the employer and individual plans must provide benefits to the consumer. UnitedHealthcare facilitates medical care plans and retirement plans to people of age more than 50 years to the best of their capacity.
UnitedHealthcare offers its products on the 23 state franchises, including the 15 member states in which the payer may offer Medicaid plans.
Your payer will offer you the health plans that are designed for people with certain chronic medical conditions, such as diabetes. UnitedHealthcare began its specialized treatment of the diabetes program, and in 2009, making it the first-ever medical plan that is specifically for those with diabetes or pre-diabetes. According to this plan, it is the routine treatment of diabetes that has not yet been paid, but the participants are required to adhere to the preventative, evidence-based recommendations from the American Diabetes Association.
Research with Mark Associates indicates that UnitedHealthcare’s total membership was the only one of its primary competitors, growth declined in the fourth quarter of 2013 to the fourth quarter of 2014. According to the data obtained, UnitedHealthcare of the membership increase by 1 percent., while in the Etna, the membership was increased by 5.9 percent, Cigna, with 2.7 percent, and the National Anthem, with only 5.2 percent of the time.

Responsible Care Agreement

UnitedHealthcare plans to increase 250 more responsible organizations in the healthcare sector in the list of programs, bringing the total number of programs up by more than 720 ACOS. In February, the payer is well-known that more than 11 million participants, support-oriented values of the ACO.
A few of the latest relationship updates of Responsible Care are that, UnitedHealthcare, which contain the plan of Downers Grove, Ill., Attorney at law, Health care Expansion, the institutes are increasing to over 5,500 Medicare Advantage beneficiaries with more than 80,000 and UnitedHealthcare members, Raleigh, North Carolina, New York, New York WakeMed Key Community Care to improve care coordination for more than 175,000 beneficiaries receiving care from physicians WKCC, Mountain View, Ca, Palo Alto Medical Foundation for the launch of a new ACOS to more than 63,000 beneficiaries of the program.
UnitedHealthcare of this year and has been involved in a dispute between insurance companies and hospitals, as it was supposed to be working on a change to the contract with the Town, in the state of New York-based company-Carolina in the Health care system. The contract made between the two companies got ineffective by the date, February 28, 2015. It took about two months after the contract has expired to agree on a new one in April, but the agreement is retroactive to March 1, so that the beneficiaries will not experience disruptions in payments.
In 2009, UnitedHealthcare established a patient-centered medical practice in primary health care in Arizona, Colorado, Ohio, New York, and Rhode Island, New York. In this model, practitioners can act as individual health care coordinators, helping to reduce fragmentation across the country.

Ratings and reviews

In 2015, UnitedHealth Group scored the first position in the “World’s most Pre-Eminent Companies” list of the business of insurance and Managed Health care department for consecutively five years due to its outstanding performance. In addition, it has received a top score of 100% on the Human Rights Campaign’s Corporate Equality Index for the year 2015 and was named one of the Top 100 Military-Friendly Employers, and Military Spouse-Friendly Employers 2015 by Victory Media, the publisher and editor of the journals of ‘G. I. Jobs’ and ‘Military is Suffering’.

Everything You Need To Know About Humana Health Insurance

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

Humana was founded in 1960 as a medical company, and the company has grown immensely by offering a variety of insurance plans and health services. Humana has i’s headquarters in Louisville, Kentucky, and is known to be one of the largest commercial insurance companies.

Business Talent

The famous names in Humana’s past and present, include the following:

The founders, David A. Jones, Sr. H. Wendell Cherry who were from the field of law.
CEO Bruce D. Broussard, who has been working in the various sectors of health care, such as oncology, medicine, residential care/ housing for the elderly, nursing management, medical practice management, surgical, and dental network
The company’s Chief Financial Officer Brian Kane whose previous care work includes national and state health care organizations.
Kurt J. Hilzinger is Board Chairman who is a partner of a firm named “Court Square Capital Partners”.
Humana started as a Nursing home company by the name of Extendicare.
After the corporation shifted its focus to hospitals in 1974 and the decision to change the name to Humana was made.
Humana has medical membership in all 50 states, including Washington, D.C., and Puerto Rico.
On December 31, 2013, Humana had approximately 12 million medical plan members and approximately 7.8 million specialty members.

Will competing insurance companies acquire Humana?

Humana has recently attracted a lot of media coverage, including rumors that have surfaced that Humana could be acquired by a competitive health care provider.
Humana is on the lookout to broker any deal to sell their business. Cigna is interested in purchasing and is in contact with the health care provider to pitch a reasonable offer to buy the corporation According to reports of Bloomsberg and Wall street journal, Cigna is not only an interested party. Etna has also reached out with an interest in brokering a deal with Humana.
Many big insurance companies are interested in the acquisition of Humana because the vast majority of the company’s revenue will come from the administration. These include Medicare Advantage plans, which insurers are trying to grow and expand.
The Goldman Sachs Group is advising Humana regarding the possible sale

Finance

Humana reported a net profit of $ 430 million on revenue of $ 13.8 billion in the first quarter of fiscal 2021, compared with a net profit of $ 368 million, on revenue of $ 11.7 billion a year earlier.
This year, Humana, took part in a wide range of transactional activities. In April, Humana announced that the home care department of Humana “Humana at Home”, acquired Deerfield Beach, Fl.
In March, Humana announced the sale of Concentra health physical therapy division, for $ 1.06 billion.
Humana plans to increase funding by 0.8 percent as of 2022 from the Medicare Advantage payment rates.

Accountable Care Agreement

Humana has signed up to plenty of accountable agreements. An agreement was made between the Downtown office of Integrated Health Network of Wisconsin and Humana in March for a three-year accountable care deal for Humana Medicare Advantage beneficiaries.
In February, A new long-term accountable contract was announced with the HealthSpan Physician. It is a large network of 200 GP’s whose headquarters is in Cincinnati.
According to stats of March, 53% of Humana’s members were in accountable care relationships.
Humana accountable care agreements have been successful, As a part of the accountable care agreements, Humana has announced better costs, reduced emergency room visits, fewer hospital admissions, and better compliance with screening for several measures, such as cholesterol, and cancer of the large intestine, in comparison to Humana members, who receive the traditional, fee-based, and the original Medicare’s settings.
Humana was on track to have more than 75 percent accountable care relationships in 2017.

Any comments, claims, and initiatives

According to a report published in Athena health PayerView. Humana acquired the first position in the ranking of largest contributors to the payer, and it was the only national commercial payer who made it to the list of Top 10 Payers. Payers have been evaluated based on information such as the days of past-due receivables, resolution rate, failure rate, and more.
For Humana considered to be the # 1 for the complete satisfaction of its members of the East and South regions of the United States, according to the annual survey J. D. Power. The health plan study now in its ninth year of operation measures the participant’s satisfaction against 134 of the health plans in 18 regions of the United States of America. The study is based on six main factors: the type of coverage and benefits, at the discretion of the service provider, information and communication, resolution of any complaints, pricing, and customer service. The calculation of the satisfaction of participants was on a 1,000-point scale.
The Humana project has recently been in controversy. In February, it was announced that the 20-year-old relationship between Humana and the University of Medicine ends on the 1st of April, which is estimated to affect 1,750 patients.
Humana has recently been a part of the legal process. Humana announced that has been the subject of a federal investigation related to a whistleblower’s claim against a health care provider. Humana was requested by the U.S Department of Justice to release the data regarding health insurer’s Medicare Part C risk adjustment practices.
Humana is one of the payers who became part of Health Care Payment Learning and Action Network, which is an advisory group that was made to provide a platform for public-private cooperation to help in making US health care system payments, to meet the goals of recently made Medicare payments, value-based and alternative payment models.
This year, Humana launched two of the public health management packages. In March, the insurance company announced that Transcend and Transcend Insights, comprehensive management services are designed to support the health sector, medical doctors, and the medical team’s efforts to improve public health and management.

What Is The Best Hmo Insurance In Ohio?

by ClaimLinxMay 10, 2021July 23, 2021Leave a comment

The cost of the insurance is dependent on the age of the applicant and the level of coverage, thus elderly people have a much higher price.

Stats regarding the insurance plans show us that a citizen of 60 years pays 112% more for health insurance than a citizen aged 40 and that is not changed with the level of insurance you chose for yourself and your family. A 40-year-old, however, pays 28% more premium than the ones paid by the 21-year-old.

We have discussed the best HMO insurance in OHIO in this article. The plans might not be offered throughout the county but the below-mentioned plans are worth looking into.

Best insurance deals in Ohio

The insurance policies available to you highly depend on where you live. You are sure to get various options to choose from for the level of coverage that you can take in every county. The best cheap health plan, will bases on a portion of your income, and the expected medical costs as they affect the price you will pay, and the level of coverage you may need.

Higher levels of coverage may be more expensive in terms of insurance premiums, but their lower cost makes them a great option for families who are expecting large or subsequent health care costs.

On the other hand, low-coverage health plans have lower fees but high out-of-pocket costs incurred, meaning that they are only suitable if you have some extra savings, and are expected to not have to require expensive medical care.

Gold Plan: Best for families, with a high fixed medical cost

If you expect high medical costs then the gold plan is the best option for you. In the

Gold plan, you will be charged a monthly cost but will have the lowest out-of-pocket costs.

Ultimately the cost you have to pay is lower than what your insurance has to pay. This is a great advantage for individuals who are expected to have large medical expenses and are unable to pay them out of pocket.

Silver Plans: Best fit for low-income households and the average medical cost

Ohio expanded Medicare under the Affordable Care Act, which means that if the family income was up to 138% of the federal poverty level then they may qualify for Medicaid. Low-income families who do not qualify, have chances to get a better price with the Silver plan.

Silver health insurance companies are the only ones who will be eligible for a reduction of the cost of subsidies, as the family’s income is below a certain threshold. Silver plans are a good solution, because you’ll get more affordable health insurance rates than a Gold plan, and less out-of-pocket expenses, then you have to deal with a bronze plan.

Bronze/Bold plans: Best Fit for families with young children, with the highest cost-sharing

If you’re under the age of 30, or you are eligible for several exceptions, you can sign up for a bronze health insurance plan. Bronze Plans offer the lowest monthly cost and the highest cost-sharing.

We do not recommend acquiring any Bronze Plan anywhere in Ohio until you are confident that you will be able to pay high out-of-pocket costs in case you need medical care. Your insurance will not cover it until you pay out-of-pocket expenses and your share.

For example at the Ambetter Essential Care 1 (Bronze premium plan, the cost can be as low as $ 242 a month for a 40-year-old, which is a lot cheaper than the $368 bonus for the Ambetter Secure Care 5. The deductible for a Bronze Plan, however, is nearly $ 7,000 more expensive than the Gold plan.

Changing Insurance Rates in Ohio

Insurance rates, deductibles, and maximum out-of-pocket amount to be determined annually by health care companies, then to be submitted to federal regulators for approval.

Stats tell that the overall costs of insurance are reduced by 4% in all of the plans in 2021. The price of bronze’s plans was dropped by the biggest amount: 7%, or $26 per month.

The Short-Term Health Insurance in Ohio

If you are living in Ohio then you might also be able to acquire the opportunity to purchase short-term health insurance plans. The insurance coverage is for a maximum of 12 months, as in the federal rules and regulations. However, Ohio does not allow the insured person to renew the short-term health insurance policy at the end of the original period of insurance.

You might want to take a brief medical policy, if you miss the open enrollment period, you will lose the employer-sponsored health care system. It is important to keep in mind that short-term plans do not provide the same essential benefits as a Private medical insurance policy

The best HMO Insurance Companies in Ohio

Currently, there are 10 health insurance companies listed in Ohio, two more than the previous year. However, all these companies do not provide all the services in all the counties. Following are the best HMO insurance in Ohio.

Community Insurance Company (Anthem Blue Cross Blue Shield
Car CareSource Insurance
Buckeye Ambetter Buckeye Community Health Plan
Medical Health Insuring Corporation. Ohio оскар
Oscar Insurance Corporation (Ohio)
Molina Healthcare of Ohio, Inc.
AultCare insurance company for you
Paramount Insurance company First
The Oscar Buckeye State Insurance Corporation.
First Insurance Company, Inc.

Depending on where you live, you can choose from up to 5 insurance providers, although a lot of counties have only one insurer available. For example, if you live in Columbus, Franklin County, you can compare the plans of the six insurance companies, rather than the 10 that will be available for the entire state.

Cheapest health insurance in the districts

To assist you in your quest to find the best health insurance plan, we compared all of the silver plans, in Ohio, and identified them to be the cheapest plan offered in each electoral district. The Ambetter Balanced Care 2 health plan is the most cost-effective in 58% of counties in Ohio.