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The Paige Agency is the only place you need to go when
you’re thinking about Group Health Insurance. We understand that your
health insurance is important to you and your employees. We also know
as well as you do, what is happening to health insurance premiums.
Typically, companies have been forced to choose some combination of
reducing benefits, paying more, or shifting costs to the employees in
order to control premiums.
At The Paige Agency, we can help you move beyond
these universally unpopular answers to address your health insurance
at a more fundamental level. Maybe partial self funding is an
answer for you or perhaps you could benefit by offering a High
Deductible Health Plan. The point is that whatever your
particular situation, we are ready and able to help you make the best possible choices
for your business and your employees.
High Deductible Health Plans
We are finding a lot of our clients are inquiring
about High Deductible Health Plans. (with or without Health Savings
Accounts/HSA's)
At The Paige Agency we are well equipped to handle these
inquiries. We work with all of the major HDHP providers to make sure
you get the best products at the best possible rate. Generally we
expect the HDHP premiums to be somewhere between 15% and 30% below
the conventional plans. The trade-off is a much higher initial
deductible before the insurance company begins paying.
As an offset to these deductibles, the IRS is
allowing people who participate in HDHPs to open what are called
Health Savings Accounts. HSAs are a big step up from the older
Medical Savings Accounts (MSA) and Flexible Spending Accounts (FSA).
The new HSAs are both durable and portable, meaning if someone leaves
the group, their HSA goes with them. Also, any money in an HSA which
isn’t spent on health related expenses rolls over to be used in future
years.
We can help your company look at
the pros and cons of High Deductible Health Plans and help you choose
the plan that works best for your business.
Partially Self Funded
For groups between 10 and 50, partial self
funding may be the right answer. We can set you up with an ERISA
compliant plan which allows you to directly assume some of your health
care costs and backs you up with an insurance package which limits
your exposure if costs turn out to be more than anticipated.
These plans are certainly not for everyone and
here at Paige we can help you determine if they might be a good fit
for your company. Where they do fit, the potential for premium
reduction is substantial.
Conventional PPO and HMO style plans
These are what we think of when we think of
health insurance. These are the plans with the office visit co-pays,
prescription co-pays, various coinsurance levels for inpatient and
outpatient services etc. While most everyone is comfortable with
these, they tend to range from somewhat more expensive to “oh my
goodness” more expensive.
As with the other types, we at The Paige
Agency have access
to all of the popular plans.
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