Don’t like traditional group health plans, and would like to implement different group health strategies?

Every business has different needs. You may consider Self-Funded, Level-Funded, ICHRA, or MEC options.

Self-Funded Health Plan

With a self-funded health plan, an employer, rather than an insurance company, pays for employee healthcare claims, often using a trust fund or working with a third-party administrator (TPA). Employers can customize the plan to meet the specific health care needs of its workforce, as opposed to purchasing a ‘one-size-fits-all’ insurance policy.

Level-Funded Health Plan

A type of group health insurance where an employer pays a fixed monthly premium to an insurer, covering anticipated claims costs, administrative fees, and stop-loss insurance. This option is basically a hybrid between a fully insured and self-funded plan, allowing the employer to potentially receive a refund if actual claims are lower than expected throughout the year.

Individual Coverage Health Reimbursement Arrangement (ICHRA)

A type of health benefit plan that allows employers to reimburse their employees for a portion or all of their individual health insurance premiums. With this option, employees are given the flexibility to choose their own health insurance plans on the market while receiving tax-free reimbursement from their employer. This is an alternative for businesses to offer health benefits without providing a traditional group health insurance plan.

Minimum Essential Coverage (MEC) Plans

A type of health insurance plan that meets the minimum standards set by the Affordable Care Act (ACA), providing basic coverage like preventative services and essential health benefits, typically considered the lowest level of coverage available while still fulfilling the individual mandate requirement under the ACA. Many employers offer MEC plans as a basic health insurance option for employees.