Tim Jackson, REBC Presents:
Five New Rules for Voluntary Benefit Plans |
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- Customize Plan to Fill Gaps (No Overlap)
Voluntary benefit plans to allow employers to build plan designs to better fit their employee population. The days of take what just came off the shelf are over. One size fits all plans are many times poorly designed creating duplicate coverage. With customizable features you can offer individual plans, Group plans an also a combination of the two.
- Simple Approval
With individual offerings you can offer Contingent Guarantee Underwriting with smaller employer populations on a per account basis. CGI is made up of three health questions. This allows more employees to meet eligibility requirements. This helps the employer offer more employees coverage when some carriers are accepting only the healthy. Many Groups get guarantee issue, just check yes or no.
- Lower Employee Cost is this Year's Bonus
Group is cheaper. With custom plans the employer can help manage cost to the employee. Group offerings are easier to administer since they require no health question at open enrollment and care typically billed on a list billing. Premium savings of the group offering is usually the single most important feature when compared to other carriers that do not have the group feature.
- Serenity & Billing (Customize billing to fit your needs)
Web based billing programs that allows the employer to make real time changes in the billing statement before submitting premiums collected during the last pay cycle, no adjusting. Benefit Selection is a $300,000 program free to participants of groups of 500+.
- Make a Difference in an Employee's Life
LifeStrive wellness program keeps your employees working towards a solution and not just a temporary fix. LifeStrive encourages each employee to take control of costly medical issues before they become life threatening. Chronic illness prevention with your voluntary insurance plan. You could make a difference. To make this part of your voluntary plan, contact contact Tim Jackson.
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