Employers have several options to provide major medical insurance coverage for their employees in the new health care reform environment. Deciding which option meets both business and workforce needs is important to navigating the new health care landscape, as well as gaining a competitive edge in the battle for top talent.
A traditional way of offering insurance, companies may consider going directly to an insurer. In this option, benefits are provided through a single insurance carrier. Employers shop and choose workplace plans on a “fixed-benefits” basis.
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Companies that want greater control over benefits choices offered to employees or prefer a certain carrier may consider offering insurer-based benefits. Talk with a broker or benefits consultant to help determine if this benefits delivery option is right for your business.
You can find more information about multiple benefits strategies, including: self-funded coverage, maintaining grandfathered status, Small Business Health Option Program (SHOP) Marketplace and private marketplace at aflac.com/healthcare_reform. A comprehensive summary is available in The Benefits Decision Guide.
As you continue to navigate health care reform, you can rely on Aflac to provide updates and helpful information at: aflac.com/insights. To learn more about coverage available in your state, visit: healthcare.gov, cciio.cms.gov and irs.gov.
This material is intended to provide general information about an evolving topic and does not constitute legal, tax or accounting advice regarding any specific situation. Aflac cannot anticipate all the facts that a particular employer or individual will have to consider in their benefits decision-making process. We strongly encourage readers to discuss their HCR situations with their advisors to determine the actions they need to take or to visit healthcare.gov (which may also be contacted at 1-800-318-2596) for additional information.