ERISA education has been ignored in the insurance industry. It is a missing topic on Department of insurance insurance exams. Health care reform has made ERISA solutions more attractive that fully insured plans, in or out of exchanges.
We provide an introduction to ERISA, enough information for brokers to learn so that they can confidently create, sell and service this type of employer solution. There are several aspects of PPACA that do not apply to ERISA contracts. Benefit design flexibility has always been the number 1 attraction to ERISA solutions. All of the cost containment products, wellness, health care shopping tools that reduce health care claims, are for the most part kept by the employer. The latest ERISA contracts identify and limit risk making ERISA contracts risk acceptable for the smallest of groups – down to 5 lives.
PPACA/MLR is not applicable to ERISA contracts so your commissions are retained, in fact you can create your own commission rate. After you’ve learned the ERISA basics and you sell an employer, we have a guide that takes your client through the transition from fully insured to fully funded self-insured. All of the groups we quote through our vendors for you, include the advanced cost containment incentivized system. This solution reduces health care spending 26% on the average. Other cost containment and health care supply chain products, the highest performing in the market are availble by your choice or your clients choice. All savings from reduced spending are retained by your employer client.
All insurance plans have at least one element of self-insurance. Deductibles, co-insurance are 2 examples of self-insurance. Plan participants cover this element of self-insurance. Many employers offer an HRA. These are self-insured by the employer. The self-insured plans we construct simply look like a large deductible HRA plan design. A 2 tier deductible if you will. In our contracts, there is a maximum dollar amount that the employer will pay for all aggregated claims. Total risk is identified and then insured.
Please view our other presentations, specifically “Re-Inventing; Reform Proof your Benefits Agency and call me when you want to work with a knowledgeable and experienced professional. Start getting paid from the savings you create. Your clients can pay commissions or fees for services or % of savings. It’s your choice, our clients Pay only for performance and we share in cost reductions.
WE deliver everything you need, from A – Z to transition into self insured ERISA insurance contracts. Survive and thrive in the ERA of Health care reform. Contact us today to get started, we only work with one agency per market.
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You Can Apply These Solutions in an ERISA Self – Insurance Contract
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Scott Hettesheimer Suite 1002 513-661-7581 Scott@GroupBenfitsExperts.com