Individual health insurance can be an alternative for:
COBRA
* Some individual health plans could be less expensive.
* An individual could qualify for a Premium Tax Credit.
* This removes underwriting risk from an employer plan.
Children aging off a parent’s plan
Short Term Medical can be an adequate bridge for someone in a waiting period for coverage.
Individual Coverage Health Reimbursement Arrangement (ICHRA):
An ICHRA should be explored, if you are a small employer looking for an alternative to a group health plan. An ICHRA can provide a combination of quality policies, tax free benefits to employees, and premium tax subsidies for purchasing coverage.
Disability Buy Up Options
Long Term Disability is the most valuable insurance coverage an employee can have. LTD is often overlooked as it is an employer-provided benefit; employees do not find out about their benefits until they are disabled. Employees should be educated about their employer-provided disability plan and how they can fill possible gaps.
Permanent Life Insurance Options
In many situations, people are under insured. Many times, employees will only have the life insurance coverage their employer provides. If they change employment, they lose that coverage. When it comes to voluntary coverage, most employers have a maximum of how much voluntary coverage they can purchase. Voluntary coverage for employees has escalating premiums as they age. Often, permanent life insurance options are overlooked as many are not properly educated on how they work or what their true cost are.
Let’s talk about how we can bring insurance education to your employees, including competitive individual insurance options when needed, and an overall value to your company.