What is Zane Health?

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Webinar on Premium Reimbursement (http://offers.zanebenefits.com/what-is-zanehealth) …

Webinar on Premium Reimbursement (http://offers.zanebenefits.com/what-is-zanehealth)

Premium Reimbursement Programs help employers save 20% to 60% on healthcare costs, and are a powerful tool for recruiting and retaining key employees.

In this slide deck you will learn:

- Why individual health insurance and Premium Reimbursement are the future of small business health insurance

- How ZaneHealth is structured

- How ZaneHealth ensures compliance

- The benefits and cost savings of using ZaneHealth

View the webinar at: http://offers.zanebenefits.com/what-is-zanehealth

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  • 1. What is ZaneHealth?WEBINARS
  • 2. What is ZaneHealth? J.D. Cleary, Sales Manager @jdzanebenefits Webinar Presenter Zane Benefits #whatiszanehealth?
  • 3. DISCLAIMER The information provided herein by Zane Benefits is general in nature and should not be relied on for commercial decisions without conducting independent review and analysis and discussing alternatives with legal, accounting, and insurance advisors. Furthermore, health insurance 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 Group health insurance is broken. We have the solution. Zane Benefits offers simple, affordable, and compliant health benefit solutions to small and medium-sized businesses. The ZaneHealth software helps businesses save 20% to 60% on healthcare costs by reimbursing employees for individual health insurance. Our online solutions allow businesses to create compliant healthcare reimbursement plans that create happier employees, reduce costs, and save time. Zane Benefits' Partner Program is an opportunity for insurance professionals to provide clients with custom Zane Benefits solutions. Request a Partner Evaluation.
  • 4. Additional FREE Resources: Small Business Health Insurance & Defined Contribution View all of our free eBooks, Whitepapers and On-Demand Webinars at: ZaneBenefits.com/Resources Subscribe to our Blog at: ZaneBenefits.com/Blog
  • 5. Agenda 1. Premium Reimbursement and the future of small business health insurance 2. How ZaneHealth works (Demo) 3. How ZaneHealth ensures compliance 4. The benefits and cost savings of using ZaneHealth #whatiszanehealth?
  • 6. Premium Reimbursement and The Future of Small Business Health Insurance #whatiszanehealth?
  • 7. Small Business Shift to Individual Health Insurance 4 Reasons: 1. Group health insurance costs are UNSUSTAINABLE 2. Individual health insurance is BETTER 3. Individual health insurance COSTS LESS 4. Individual health insurance allows for REIMBURSEMENT “60% of Small Businesses Will Transition to Individual Health Insurance by 2017” #whatiszanehealth? - The Inevitable End of Small Business Health Insurance
  • 8. Employer Health Insurance Costs are UNSUSTAINABLE By 2013, only 57% of small- and medium-sized employers (< 200 employees) offered health insurance…. Compared with 99% of large employers (200+ employees). #whatiszanehealth?
  • 9. Individual Health Insurance Costs LESS
  • 10. Individual Health Insurance is BETTER Individual health insurance policies provide greater value to employees: ● Choice ● Portability ● Cost ● Simplicity
  • 11. Premium Reimbursement Two primary options: ● Taxable Healthcare Allowance, or ● Tax-free Healthcare Reimbursement Plan (HRP)* * Must be designed to comply with Market Reforms 1. Businesses offer employees a monthly healthcare allowance to use on individual health insurance. 2. Employees purchase their own health plan and are reimbursed up to the amount available in their balance.
  • 12. ZaneHealth (Overview) ZaneHealth is a simple, online solution that allows companies to reimburse employees tax-free for individual health insurance premiums. ● The business sets monthly healthcare allowances ● Employees purchase their own health plan and submit a reimbursement request through ZaneHealth ● ZaneHealth processes the request and the company reimburses employees for the approved expense How ZaneHealth works: #whatiszanehealth?
  • 13. How ZaneHealth Ensures Compliance #whatiszanehealth?
  • 14. ZaneHealth (Design) ZaneHealth is designed as a Self-Insured Medical Reimbursement Plan under 26 CFR 1.105-11 “A self-insured medical reimbursement plan is a separate written plan for the benefit of employees which provides for reimbursement of employee medical expenses referred to in section 105(b)” ● Self-Insured Medical Reimbursement Plans ARE group health plans ● All group health plans must comply with ACA “market reforms” #whatiszanehealth?
  • 15. ZaneHealth (Compliance) ● IRS ○ IRC Section 106 ○ IRC Section 105 ○ IRC Section 213 ● ERISA ○ Non-Discrimination Rules ○ Plan Documents ● HIPAA ○ Employee Medical Privacy ● ACA - “Market Reforms” ○ PHS Act 2711 ○ PHS Act 2713 #whatiszanehealth? ZaneHealth is designed to comply with all applicable rules.
  • 16. The Benefits and Cost Savings of Using ZaneHealth #whatiszanehealth?
  • 17. Cost Savings with ZaneHealth Single Family Cost of Individual Plan $2,424 / year $7,248 / year Cost of Employer Plan $6,492 / year $18,312 / year Savings Per Employee $4,068 / year $11,064 / year Percentage Savings 63% 60% #whatiszanehealth? Based off 2014 health insurance costs for the state of Illinois. Source: U.S. Health and Human Services, QHP Landscape Market Medical 2014 (See data.healthcare.gov).
  • 18. Cost Savings with ZaneHealth Per Employee Total Per Employee Total 15 Single Employees $6,492 $97,380 $2,424 $36,360 30 Families (incl. Employee) $18,312 $549,360 $7,248 $217,440 Total Costs $646,740 $253,800 Total Employer Plan Cost (Employer Pays 70%) $452,718 $177,660 Employer - Provided Plan Premium Reimbursement Plan Annual Savings with Premium Reimbursement Plan: $275,058 #whatiszanehealth?
  • 19. Summary and Q&A #whatiszanehealth?
  • 20. Summary and Q&A 1. Employer-provided health insurance is not sustainable. 2. Over next three years, 60% of small businesses will transition to an individual health insurance solution. 3. Premium Reimbursement (ZaneHealth) allows businesses to reimburse employees for individual health insurance costs. 4. ZaneHealth ensures compliance with all applicable rules and regulations. 5. Businesses typically save 20-60% by using Premium Reimbursement. #whatiszanehealth?
  • 21. Additional FREE Resources: Small Business Health Insurance & Defined Contribution View all of our free eBooks, Whitepapers and On-Demand Webinars at: ZaneBenefits.com/Resources Subscribe to our Blog at: ZaneBenefits.com/Blog
  • 22. DISCLAIMER The information provided herein by Zane Benefits is general in nature and should not be relied on for commercial decisions without conducting independent review and analysis and discussing alternatives with legal, accounting, and insurance advisors. Furthermore, health insurance 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 Group health insurance is broken. We have the solution. Zane Benefits offers simple, affordable, and compliant health benefit solutions to small businesses. The ZaneHealth software helps businesses save 20% to 60% on healthcare costs by reimbursing employees for individual health insurance. Our online solutions allow businesses to create compliant healthcare reimbursement plans that create happier employees, reduce costs, and save time. Zane Benefits' Partner Program is an opportunity for insurance professionals to provide clients with custom Zane Benefits solutions. Request a Partner Evaluation.