Small Software Company Saves 47% by Switching to Our Medical Plan

Client Success Story: Significantly Reduce Your Health Insurance Premiums

Many companies we speak with have received significant increases in their employee health insurance premiums.  A small software development company reached out to us this month for help. They were shocked by how much higher the costs were.  Their employees' premiums included costs up to $1,800 for family coverage. 

After thoroughly analyzing their options with other carriers, as well as the client's current insurance plan, we recommended that they switch to one of the Master Medical Plans we offer. This particular client had a choice between three different options for health coverage, all of which would lower their overall premium rate by either 47%, 56%, or 61%. How's that for savings?

We know that the constantly changing ACA regulations are frustrating and make healthcare decisions extremely difficult for you and your company, but remember we are always here to help. If you're in a similar situation and need some guidance or advice, let one of our skilled professionals help. Our goal is to find money-saving solutions for our clients and help them reduce time spent on these stressful decisions. Continue reading or contact us to learn more.

More About Our Master Medical Health Care Plan

Our healthcare partner, Humana, started rolling out the Humana Master Medical plans in Arizona, Colorado, and Tennessee. One big advantage of these plans is that they eliminate age banded rates. The Master Medical plan is calculated on a composite rate, so premiums do not vary by age. As you know, the ACA introduced these age bands that complicate pricing and administration for small group plans. The state of Colorado alone has a whopping 42 different age bands you need to consider to calculate premiums. Employers not only pay the required 50% of employee premiums, but also ensure that these rates balance by age band.

Plans vary according to state regulations, but we offer both traditional and high deductible plans.

How Does Converting to our Medical Plans Save on Premiums?

The Health Insurance plans we offer are better than those found in the marketplace. Plus the network is very comprehensive and provides the individual with more options. How do they do this? Well, in insurance underwriting, larger groups spread the risks. This plan has over 1,000 people participating, which allows for different calculations of rates and means lower rates for all participants. Each company is still assigned to the appropriate rate tier based on their individual risk factors, but the actuarial tables also consider factors within the overall larger group pool.

 Although this master health plan produces great results, not everyone can expect the same cost savings our small software company client experienced. We underwrite each company individually and the actuaries assign a premium tier based on the calculated parameters. However, if there's a way to save you money, our experts will find it.
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