The Online Alternative to Group Health Insurance
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The Online Alternative to Group Health Insurance

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http://offers.zanebenefits.com/the-online-alternative-to-group-health-insurance-webinar ...

http://offers.zanebenefits.com/the-online-alternative-to-group-health-insurance-webinar

As group health insurance costs continue to rise, employers and employees are looking for ways to offer better health benefits at lower prices.

An online alternative, often referred to as a defined contribution health plan, allows an employer to name its price.

Rather than paying the costs to provide a specific group health plan (a "defined benefit"), employers instead fix their costs by establishing a monthly dollar amount (a “defined contribution”) that employees choose how to spend.

As health care reform phases in, almost every employer should consider simply dropping its group health plan and allowing employees to buy their own health insurance coverage in the exchanges.

Anyone interested in understanding how to administer a defined contribution health plan 100% online should attend this webinar.

During this 30 minute webinar, you will learn:

- What is the online alternative to group health insurance
- How the online alternative works
- How to evaluate the online alternative for your business
- How to evaluate the online alternative for your family
- How health insurance professionals fit in

Watch recorded webinar here: http://offers.zanebenefits.com/the-online-alternative-to-group-health-insurance-webinar

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The Online Alternative to Group Health Insurance The Online Alternative to Group Health Insurance Presentation Transcript

  • The Online Alternative toGroup Health InsuranceHelping employers offer great health benefits withoutthe cost or complication of a group health plan
  • The ZaneHRA Software provides a 100% paperless administration experience to employers and insuranceprofessionals that want to offer better health benefits without a traditional group health insurance plan at lower costs.For more information about ZaneHRA, check out our Software.Employers use ZaneHRA to open and manage their own stand-alone HRA or defined contribution health plancompletely online, electronically enroll participants and print welcome kits, and monitor expenses andreimbursements in real-time.Employees obtain their own individual health policies from a designated health insurance broker (see below),submit premium and medical expenses online, via fax, or mail, and receive same-day reimbursement via check,payroll addition, or direct deposit. Zane Benefits does not sell health insurance.Insurance Professionals partner with Zane Benefits and use ZaneHRA to provide clients with a cost-savinghealth benefits option. Insurance brokers earn compensation on ZaneHRA referrals and retain 100% of the healthinsurance compensation from carriers. ZaneHRA is distributed by leading health insurance carriers, agencies,brokers, and accountants. DISCLAIMER The information provided herein by Zane Benefits is general in nature and For additional resources on should not be relied on for commercial decisions without conducting Health Care Reform, visit independent review and analysis and discussing alternatives with legal, accounting, and insurance advisors. Furthermore, health insurance www.zanebenefits.com/blog regulations differ in each state; information provided does not apply to any specific U.S. state except where noted. See a licensed agent for detailed information on your state. www.ZaneBenefits.com
  • Agenda1. Zane Benefits Overview2. The Problem The Online Alternative Solves3. What is The Online Alternative to Group Health Insurance?4. How Does The Online Alternative Work?5. Why The Online Alternative to Group Health Insurance Matters: ○ For Businesses ○ For Individuals ○ For Insurance Professionals6. Summary
  • Who is Zane Benefits? ● Founded in 2006 ● Clients in all 50 States ● Distributed nationally by top Insurance Companies, Brokers, and Payroll Companies since 2009 Even if Berneche carries out his plan to nearly double the UnitedHealth is encouraging 100s size of his company, he still of its independent agents to take expects to save at least an online course offered by Zane $360,000 this year with the Benefits to learn how to market new [Zane Benefits] program individual plans at companies Zane Benefits works with Zane Benefits Founder Paul Zane Pilzer companies to help them give writes that employer sponsored group employees a tax-free health insurance will be “mostly allowance to purchase eliminated” in the next 20 years. individual policies Zane Benefits Paul Zane Forbes.com on "Getting Better Health Pilzer speaks on HRAs, Insurance" featuring Zane Benefits Individual Health Policies, Founder Paul Zane Pilzer and Defined Contribution Health Benefits
  • The Problem The Online Alternative Solves
  • Group Health Insurance Costs Too Much!Remember, employersoffer insurance forrecruiting & retentionbecause:1. It is tax deductible to the business2. Employees get the benefit 100% tax-free3. Individual health insurance is not guaranteed-issue in most states (i.e. Moral Obligation) The IDEAL Solution must address #1, #2, #3 AND must reduce or fix the employers cost.
  • The Solution is Now1. Cancel group health plan (if you have one)2. Define a budget and create a defined contribution plan3. Select an insurance professional to help employees4. Focus on your business
  • What is The Online Alternative to Group Health Insurance?
  • The Online Alternative is "Pure Defined Contribution"● ZaneHRA is "purest" form of Defined Contribution.● HRA stands for “health reimbursement arrangement."● Its an “arrangement” for tax- free medical expense reimbursement.● ZaneHRAs function like HRAs are NOT health insurance business expense accounts.
  • ZaneHRA Overview - SimpleThe Employer... Like Auto The Employees.... Insurance1. Determines contributions 6. Purchase individual policies2. Sets eligibility 7. Submit "expenses" for reimbursement3. Picks start date ZaneHRA Claims Processing4. Enrolls employees 8. Adjudicates employees "expenses"5. Sends welcome kits Like Business Expense Reimbursements9. Reimburses employees for"expenses"
  • Why The Online Alternative to Group Health Insurance Matters
  • The Online Alternative for Businesses○ Recruiting and Retention - key part of compensation ■ Employee Classes ■ Turn your health benefit plan into a recruiting tool○ Cost Savings ■ Define your maximum budget ■ No prefunding ■ Only spend what employees actually use○ Ease of Use / Payroll Integration ■ Health benefits becomes a payroll function○ Compliance ■ ERISA, IRS, HIPAA, ACA
  • The Online Alternative for BusinessesDoes your business employ < 50 FTEs? Why? 1. Guaranteed issue ...If Yes, Cancel your group health 2. NO PENALTIES insurance plan 3. Employee tax subsidiesDoes your business employ > 50 FTEs? Compare cost of: ...If Yes, complete financial analysis 1. Qualified, affordable group health insurance 2. HRA + Penalties 3. Penalties
  • The Online Alternative for Families1. Choice - any plan, any carrier, any deductible, any coverage options2. Portability - secure coverage regardless of employment status3. Tax Savings - $1 tax-free is better than $1 in taxable wages4. Subsidies - massive subsidies for individual health insurance in 2014
  • The Online Alternative for Families ● Who is eligible for premium tax subsidies? ○ Households with income between 100% and 400% of Federal Poverty Line (FPL) ● Where are the premiums tax subsidies available? ○ ONLY available on individual health insurance market ○ ONLY available on exchanges If businesses DO NOT offer qualified, affordable group health coverage their employees may qualify for federal subsidies FAMILY OF 4 Examples: Gov’t Premium Income Actual Family Cost Total Premium Subsidy $20,000 $0 (Medicaid) Medicaid Medicaid $40,000 $1,982 (5%) $12,130 $10,148 $80,000 $7,600 (9.5%) $12,130 $4,530
  • The Online Alternative for Insurance Professionals1. Redefine an Industry - no Customized by Insurance incentive for < 50 businesses to Professional offer group health ○ Individual policy sales in 2013 ○ Individual policy sales in 2014 with guaranteed issue and subsidies2. The health reform solution - be part of the solution3. Insurance service integration - ○ Online ○ "Meet and Greet"
  • The Online Alternative for Insurance Professionals Health Insurance Professionals = Navigators● Relationship with employer and employees ○ Broker of choice contracts with employer to service all health insurance needs for employees● Exchange plan options and subsidies ○ Offering of dedicated insurance services (online and in person)● Brokers help employees choose vs sell ○ Like investment advisor helps employee choose best 401(k) investments
  • Summary / Conclusion
  • The Solution is Now1. Cancel group health plan (if you have one)2. Define a budget and create a defined contribution plan3. Select an insurance professional to help employees4. Focus on your business
  • Webinar Summary - Q&A1. Businesses Cannot Afford Group Health Insurance2. There is No Incentive for < 50 Businesses to Offer Group Health Insurance in 20143. The Online Alternative to Group Health Insurance is Defined Contribution4. The Online Alternative Allows a Business to Focus on its Business5. Individual Health Insurance Subsidies will Benefit Businesses, Families, and Insurance Professionals
  • The ZaneHRA Software provides a 100% paperless administration experience to employers and insuranceprofessionals that want to offer better health benefits without a traditional group health insurance plan at lower costs.For more information about ZaneHRA, check out our Software.Employers use ZaneHRA to open and manage their own stand-alone HRA or defined contribution health plancompletely online, electronically enroll participants and print welcome kits, and monitor expenses andreimbursements in real-time.Employees obtain their own individual health policies from a designated health insurance broker (see below),submit premium and medical expenses online, via fax, or mail, and receive same-day reimbursement via check,payroll addition, or direct deposit. Zane Benefits does not sell health insurance.Insurance Professionals partner with Zane Benefits and use ZaneHRA to provide clients with a cost-savinghealth benefits option. Insurance brokers earn compensation on ZaneHRA referrals and retain 100% of the healthinsurance compensation from carriers. ZaneHRA is distributed by leading health insurance carriers, agencies,brokers, and accountants. DISCLAIMER The information provided herein by Zane Benefits is general in nature and For additional resources on should not be relied on for commercial decisions without conducting Health Care Reform, visit independent review and analysis and discussing alternatives with legal, accounting, and insurance advisors. Furthermore, health insurance www.zanebenefits.com/blog regulations differ in each state; information provided does not apply to any specific U.S. state except where noted. See a licensed agent for detailed information on your state. www.ZaneBenefits.com