A new tri-funded group health insurance plan gives employees of small business better coverage at lower cost meaning both the businesses and the employees pay less while employees get the type of comprehensive health plan they need.
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The release of the Affordable Care Act has introduced a wide range of new rules, regulations and requirements for small businesses regarding the health insurance of their employees. Small businesses who fail to comply could be subject to audits, serious penalties and potentially crippling fines.
In this environment, savvy business owners are looking for for better value health insurance but few have the background or knowledge necessary to seek out the best options for a small business.
A new “tri-funded” health insurance plan is giving small business owners the options and flexibility they need to drop the health insurance costs for themselves and their employees and increase the benefits and coverage available at the same time.
Most health insurance plans are designed with large companies in mind and they lack flexibility. The problem with this type of group health insurance is companies and employees are paying for the health coverage they need but they’re also paying for health coverage they don’t use.
Regardless of whether the employees of a business go to a doctor every month or use other health services that are covered the business and the employees pay the same premium. This is where the larger health insurance companies make most of their profit…in the non use of health services.
With a “tri-funded” health insurance plan both a small business and its employees can take advantage of tailoring premiums to a much smaller workforce with specific health issues and problems. This tailoring allows the employer and the employee to pay less while giving the perfect coverage required for the workforce.
This type of insurance plan it called tri-funded because the employee pays part of the cost, the business pays part of the cost and the insurance company pays the rest. The reduced premiums mean employees effectively get a pay rise in the order of $1,000 or more a year.
The TRI-Funded Employee Health plan is fully compliant with the Affordable Care Act and is fully administered for the business both saving the business money and administrative costs.
Release ID: 90421