health insurance
The Affordable Care Act (ACA) mandates that all Americans have health insurance or pay a penalty. If you’re an American, just look to the mirror to see who’s going to be affected.
Just like a certain beloved movie from the ‘80s that used a DeLorean to take us to the future, we now have a vehicle that can be used today, in 2014 and well beyond – defined contribution health benefits.
Health insurance producers and consultants should educate their clients on the defined contribution benefits strategy now because this trend is not going away anytime soon. In fact, nearly 50% of employers “definitely or probably will” switch to defined contribution in 2013.
Opportunity's always knocking. Just open the door.
If everyone knows that a bird in the hand is worth two in the bush, then why isn’t cross-selling a universal practice? Cross-selling is a great tool for client retention, as well as prospecting. Your clients and prospects may not be aware of the full portfolio of your offerings.
So, don’t think twice about reviewing all options during the renewal/enrollment process. This is your opportunity to suggest how they can enhance their benefits program. And yes, even if they feel satisfied with what they offer currently.
The Affordable Care Act may have some health insurance producers feeling anxious, but the proactive producer will stay educated and know every option out there to remain a key player in the distribution of health insurance. From timely topics such as Medicare, and trending topics like consumer driven health plans (CDHPs) and our own private insurance exchange, which was designed with the producer in mind – we are discussing what matters most to your future – right now!
According to a recent release by the U.S. Department of Health & Human Services, the Affordable Care Act will save the average person with traditional Medicare $5,000 through 2022.
Yesterday, millions of people in the U.S. became eligible to shop, compare and reexamine those Medicare plans. This combination of having the opportunity to save a sizeable amount of money during this limited time has lead to the phenomenon commonly known as the “annual enrollment period” or the “open enrollment period”, which sends millions of employees, friends, and family members into a shopping frenzy (this year lasting from October 15 – December 7, 2012).
Flexible Benefit Service LLC (Flex) recently joined forces with various associations and insurance companies representing employers, producers and insurers to submit comments on the selection of Illinois’ state Essential Health Benefits (EHB) benchmark plan.
The purpose of the consolidated comments was to underscore the importance of affordability of coverage for individual consumers and small employers in Illinois. The target for this effort was the state’s Health Reform Implementation Council (HRIC) Workgroup, who was considering specific factors in choosing the EHB package. The benchmark plan will eventually determine the cost of future premiums and how broad coverage will be for Illinois consumers.
No matter where you end up in life, you never forget where you came from. Flexible Benefit Service LLC (Flex) was founded and is headquartered in Illinois. For more than 24 years, Illinois has been the foundation of our success. Now we want to pay it forward by helping other local businesses. Flex is now offering a way for the 136,000+ uninsured small businesses in Illinois to provide health benefits to employees. We call it the InsureXSolutions™ private health insurance exchange.
InsureXSolutions is a game-changer for some employers!
The much anticipated private health insurance exchange from Flexible Benefit Service LLC (Flex) has recently launched and it’s creating lots of excitement because of its unique features.
How is InsureXSolutions® unlike other private insurance exchanges?
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It promotes a defined contribution funding model for employers to truly manage and cap their costs. This is critically important for employers not currently offering group health insurance. They can now establish a fixed dollar amount for employees without having to worry about participation requirements or other unknown costs.
Marketplace recognition increases and enrollment grows - and it's about time!
We continue to see an increase in news, surveys and reports that consumer driven health plans (CDHPs) and tax-advantaged programs are growing in popularity and enabling more Americans to make better health care decisions. We strongly agree, but this is not new to us at Flexible Benefit Service LLC (Flex).
The Benefits Buzz Blog was created with the simple idea of getting relevant information to you - when you want it. From updates on health care reform, the employee benefits industry, compliance, continuing education and more – we invite you to read and walk away with some value adds to help you get through the day smarter.
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