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Why you should explore moving your group health plan to individual coverage.
Employers have been cautious about abandoning their traditional approach to providing healthcare benefits, but with the steep rise in healthcare costs and health insurance premiums showing no sign of easing, many are taking a closer look at the strategic potential of moving their employees to individual coverage.
Two key components of using an individual exchange platform are:
Considerations for Moving to a Private Exchange
Employers with less than 50 Full-Time Equivalent Employees are not required by the Affordable care Act to provide health insurance coverage. However, under current DOL and IRS rules, employers are not allowed to deduct payments for individual employee health insurance premiums.
Many employers have found that providing a fixed, non-discriminatory, taxable stipend, added to employees' paychecks allows them to voluntarily purchase coverage themselves.
A properly designed Private Insurance Exchange platform supported by expert telephone assistance can benefit both employers and their employees.
your Guide to Employer Health Plans
More Medical Plan Options:
The Benefits for Your Company:
The Benefits to Your Employees: