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Infographic - How to Set Up a Premium Reimbursement Program... The Right Way

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Zane Benefits Infographic on how to set up a premium reimbursement program... the right way.

Source: http://www.zanebenefits.com/infographics/how-to-set-up-premium-reimbursement

Learn why so many small employers are reimbursing employees for individual health insurance as way to offer affordable health benefits employees love.

The infographic shows 5 simple steps to setting up a Premium Reimbursement Program.

Learn more at www.zanebenefits.com.

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Infographic - How to Set Up a Premium Reimbursement Program... The Right Way

  1. 1. HOW TO SET UP A PREMIUM REIMBURSEMENT PROGRAM Zane Benefits is the #1 Online Health Benefits Solution Learn more at www.ZaneBenefits.com Infographic Created and Published by Zane Benefits July 2014 Based on Zane Benefits,’ eBook The Step-by-Step Guide to Premium Reimbursement Available at: http://offers.zanebenefits.com/guide-to-premium- reimbursement 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. STEP #1: SET UP A FORMAL REIMBURSEMENT PLAN Problem Cancel group health insurance, and... Save 20% to 60% by reimbursing employees for individual health insurance. WHY PREMIUM REIMBURSEMENT? STEP #4: UNDERSTAND COMPLIANCE STEP #3: WORK WITH A HEALTH INSURANCE BROKER STEP #2: USE REIMBURSEMENT SOFTWARE STEP #5: EDUCATE EMPLOYEES Why? A formal plan helps you comply with various rules (see #4), and helps you recruit and retain the best employees. You have two choices:  A Taxable Healthcare Allowance, or  A Tax-free Health Reimbursement Plan Why? Use Reimbursement Software to:  Offer a compliant plan  Administer the plan in 5 minutes/month Why? Buying health insurance is a new experience for many employees. Your broker or agent will help employees understand options, compare plans, and purchase a policy that best fits their needs and budget. Why? Employers need to follow IRS, ERISA, HIPAA, ACA, and other applicable rules when reimbursing employees for individual health insurance. Failure to comply can mean costly fees. Use Reimbursement Software to make sure your plan is compliant, and to make compliance easy. Why? Like any health benefits program, educating employees helps everyone get the most out of the benefit. Educate employees about the reimbursement program and about the advantages of individual health insurance. Small employers want to offer health benefits... But traditional group health insurance is unaffordable. Solution THE RIGHT WAY

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