Saving Employee Benefit Program      The “Insured HRA” Plan
   WE HELP INSURANCE BROKERS    prospect, sell and retain more    business and make more money!   WE “WHOLESALE” ONLY.  ...
 How to stay ahead of anticipated increases? What to do about an aging workforce and early  retirees?    Is there a stra...
Options for Employer Groups  Do nothing, hope for the best, then watch  your insurance costs go up year after year.  Imple...
The “INSURED” HRA Strategy                         INSURED              High         HRA            Deductible            ...
Two Easy Steps   Modify current benefit plan to a   “High Deductible” (4k - 5k) Health   Insurance Plan   Result: Immediat...
MAJOR MEDICAL + INSURED HRA Equivalent coverage to current  plans Same employee out-of-pocket  expenses Lower annual pr...
Similar “GAP” Strategies  Medicare + “Medigap” Supplemental Plans  IBM vs. McIntosh-”Component” Based PCs  Supplemental...
How It Works  Employees receive two insurance cards; one for Major   Medical Plan and one for the INSURED HRA Plan.  Emp...
APPROVED      Health plans with $5,000+ in      deductibles/coinsurances.      Health plans where single rate for      H...
Sample Case – Employment Services                              Current Plan: BCBS CB4 $500 DD / 20% to $1500          Cens...
Sample Case – Consultant Firm                             Current Plan: Health Plus $500 DD / 20% to $1500          Census...
Sample Case – Auto Dealership                   Current Plan: Priority Health $1,000 Deductible / 20% to $2,500          C...
To schedule an onsite appointment       Office: 248-935-5133  dick@cheltenbenefitsgroup.com
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Insured HRA Employer Presentation

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easy to understand cost savings strategy combining mjor medical insurance and "3rd generation" GAP insurance

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Insured HRA Employer Presentation

  1. 1. Saving Employee Benefit Program The “Insured HRA” Plan
  2. 2.  WE HELP INSURANCE BROKERS prospect, sell and retain more business and make more money! WE “WHOLESALE” ONLY. 3 variations of medical “GAP” insurance. WE ARE MARKETING EXPERTS. 20+ years of successful Agency building. DICK CHELTEN, CL U, ChFC, RH U
  3. 3.  How to stay ahead of anticipated increases? What to do about an aging workforce and early retirees? Is there a strategy that will reduce costs but maintain your current benefit levels?
  4. 4. Options for Employer Groups Do nothing, hope for the best, then watch your insurance costs go up year after year. Implement risky “self-funding” schemes, hoping your claim costs are low and your monthly cash flow is sufficient. Or... Use a new, safe strategy to guarantee savings without risk…And still maintain benefits…
  5. 5. The “INSURED” HRA Strategy INSURED High HRA Deductible Plan
  6. 6. Two Easy Steps Modify current benefit plan to a “High Deductible” (4k - 5k) Health Insurance Plan Result: Immediate savings on your annual cost of insurance Add coverage This Supplemental insurance plan covers the increased deductible and coinsurance Keeps out-of-pocket employee expenses
  7. 7. MAJOR MEDICAL + INSURED HRA Equivalent coverage to current plans Same employee out-of-pocket expenses Lower annual premium costs Stabilized annual insurance increases YOUR SAVINGS! Typical annual savings up to $2k per employee! Combined plans cost less with same coverage!
  8. 8. Similar “GAP” Strategies  Medicare + “Medigap” Supplemental Plans  IBM vs. McIntosh-”Component” Based PCs  Supplemental Dental and Vision Coverage
  9. 9. How It Works  Employees receive two insurance cards; one for Major Medical Plan and one for the INSURED HRA Plan.  Employees also receive an information card that tells providers how to bill for services whenever they receive medical attention.  If the service is covered by Major Medical but is subject to the new high deductible, employee’s bill will be paid by the INSURED HRA plan.
  10. 10. APPROVED Health plans with $5,000+ in deductibles/coinsurances. Health plans where single rate for HDHP is $100+ lower than current. Works best with fully insured plans.
  11. 11. Sample Case – Employment Services Current Plan: BCBS CB4 $500 DD / 20% to $1500 Census Status Medical Total 58 Employee $471.11 $471.11 23 2 Person $1,130.67 $1,130.67 10 Family $1,366.19 $1,366.19 91 $66,991.69 Renewal Plan: BCBS CB4 $500 DD / 20% to $1500 Census Status Medical Total 58 Employee $494.39 $494.39 23 2 Person $1,186.55 $1,186.55 10 Family $1,483.18 $1,483.18 91 $70,797.07 Proposed Plan: BCBS CB15 & Insured HRA to $500 Deductible / 20% to $1,500 Census Status Medical Insured HRA Total 58 Employee $320.36 $93.47 $413.83 23 2 Person $768.88 $175.01 $943.89 10 Family $961.09 $248.01 $1,209.10 91 $57,802.61 Proposed Plan: Annual Savings Versus Renewal Plan $155,933.52This sample case is for agent use only. This sample case is simply an illustration of how the Insured HRA concept can work. It is not intended to indicate rates or savings for other groups. Because there are many different plan designs, variations in claim risk, medical plans the rates and savings will vary by group. Contact your agent for a quote and savings illustration.
  12. 12. Sample Case – Consultant Firm Current Plan: Health Plus $500 DD / 20% to $1500 Census Status Medical Total 15 Employee $332.28 $332.28 5 2 Person $747.63 $747.63 9 Family $897.15 $897.15 29 $16,796.70 Renewal Plan: Health Plus $500 DD / 20% to $1500 Census Status Medical Total 15 Employee $395.08 $395.08 5 2 Person $888.93 $888.93 9 Family $1,066.71 $1,066.71 29 $19,971.24 Proposed Plan: McLaren POS & Insured HRA to $500 Deductible / 20% to $1,000 Census Status Medical Insured HRA Total 15 Employee $220.52 $84.67 $305.19 5 2 Person $518.22 $159.87 $678.09 9 Family $595.40 $225.54 $820.94 29 $15,356.76 Proposed Plan: Annual Savings Versus Renewal Plan $55,373.76This sample case is for agent use only. This sample case is simply an illustration of how the Insured HRA concept can work. It is not intended to indicate rates or savings for other groups. Because there are many different plan designs, variations in claim risk, medical plans the rates and savings will vary by group. Contact your agent for a quote and savings illustration.
  13. 13. Sample Case – Auto Dealership Current Plan: Priority Health $1,000 Deductible / 20% to $2,500 Census Status Medical Total 95 Employee $364.40 $364.40 42 2 Person $619.49 $619.49 96 Family $759.39 $759.39 233 $133,538.02 Renewal Plan: Priority Health $1,000 Deductible / 20% to $2,500 Census Status Medical Total 95 Employee $435.47 $435.47 42 2 Person $740.30 $740.30 96 Family $907.48 $907.48 233 $159,580.33 Proposed Plan: BCBSM SB 4000 and Insured HRA $1,000 Deductible / 20% to 2,500 Census Status Medical Insured HRA Total 95 Employee $198.28 $47.29 $245.57 42 2 Person $475.88 $85.13 $561.01 96 Family $594.86 $119.97 $714.83 233 $115,515.25 Proposed Plan: Annual Savings Versus Renewal Plan $528,780.96This sample case is for agent use only. This sample case is simply an illustration of how the Insured HRA concept can work. It is not intended to indicate rates or savings for other groups. Because there are many different plan designs, variations in claim risk, medical plans the rates and savings will vary by group. Contact your agent for a quote and savings illustration.
  14. 14. To schedule an onsite appointment Office: 248-935-5133 dick@cheltenbenefitsgroup.com
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