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USA Business Choice
Built for Small Business, Forged by Choice.
Built for Small Business, Forged by Choice.

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Employers are in search now more than ever for small business insurance solutions.  This is nothing new, of course.  The “Tug of War” between annual revenue and health care costs has been increasing since the early 1980’s.  Employers have watched the cost of their health plans exceed thirty percent of covered payroll. And now The Patient Protection and Affordable Care Act (Affordable Care Act or ACA) has enacted comprehensive health insurance reforms designed to ensure Americans have access to quality, affordable health insurance. This translates to additional costs to employer health plans.

The Solution
Sometimes the answers to the most difficult questions are right in front of us.  Larger employers have gravitated to Self–Funded Health Plans for decades.  It used to be that self-funded plans were designed only for the larger employer.  Now with the efficiency of claims payment systems, properly underwritten specific and aggregate stop loss coverages, as well as the ability to identify employers who are prime candidates for self –funding, small and medium sized employers can have self-funded health plans as well.   Specifically, the employers who maintain the following are prime candidates for self-funding :
Strong Balance Sheets
Stable Work Forces, and
Proactive Management
It is estimated that over 100 million employees are covered under self–funded health plans today.  Many employers are savvy enough to include Health Reimbursement Arrangements (HRA’s) to offset the out of pocket costs of a high deductible plan.  This strategy saves further health plan dollars while softening the burden of out of pocket costs for employees.

USA Business Choice offers self-funded insurance plans that strictly follow ERISA compliance.

If you have any other questions on this or any other topic relating to funding health insurance, let us know!

Now that the affordable healthcare act (aka Obamacare) has been around for several years, we have been noticing that although there have been additional Americans able to secure health coverage, there have not been any reports of reduced costs.  On the contrary! Premium contributions and deductibles, copays and coinsurance amounts have increased tremendously.  How can small business choose a plan that controls costs and keeps benefits affordable?

Smaller employers have always had the option to look at Self-Funding, but there has been little or no media attention on Obamacare alternatives.  But there ARE alternatives—one of which is Self-Funding. Because of the passage of the ACA, there are many advantages to Self-Funding:

Self-Funded plans do not have “Community Rating”
Self-Funded plans do not have to provide “Guarantee Issue” coverage
Self-Funded plans do not have 3:1 rate compression rules
Self-Funded plans do not have MLR rules
Self-Funded plans are not subject to some taxes/fees
Self-Funded plans are subject to ERISA (toughest consumer protection laws anywhere)
                     No “double dealing”
                     Disclosure of commissions and fees

These items make Self-Funding a very viable Obamacare Option.  It has opened doors for employers not usually considered candidates for Self-Funding due to group size to explore this new Obamacare Option.  There are new Risk Management services and products designed especially for smaller employers, allowing them to not only plan and budget, but also to take advantage of having a healthy workforce and the implementation of wellness incentives.

USA Business Choice was founded exclusively for Smaller Employers and their entry into the Self-Funded world.  We have built products for the Small Group market to work with the educated broker.

If you have any other questions on this or any other topic relating to funding health insurance, let us know!

USA Business Choice:  Built for Small Business, Forged by Choice!

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Self-Funding is beginning to appeal to Employers in a very big way. More smaller employers are self-funding their benefit plans than ever. Although not scientific, we have noticed a 70% increase in the number of self-funded quote requests from the same producer base. When adding in the additional Third Party Administrators and General Agents we now work with, we have nearly TRIPLED the amount of activity coming through our system.

Why this dramatic increase? I believe it i...s because employers are beginning to look at ways to gain control of the actual risk associated with offering a health benefits program. If a smaller employer purchases coverage from an insurance company under the rules of the Affordable Care Act, there is no real underwriting taking place. The carriers in the insured world can no longer ask questions related to the actual risk of the group, thereby grouping all employees into similar risk pools, separated primarily by geography, plan design, and age (somewhat).

When a group can be analyzed by risk, i.e, age, sex, medical history, lifestyle, etc., it can actually pay rates calculated by the risk associated with group. Of course, many smaller employers may not be good candidates for Self-Funding, we have found that about 40-60% can be underwritten to favorable costs.

Self-Funded plans are not subject to several requirements of the ACA, such as”

1.Medical Loss Ratio rules (MRL);
2.Guarantee issue;
3.Narrow age banding;
4.Medical underwriting;
5.Insurance company tax of 2.5% on all premium.

These are just some of the reasons—along with common sense—that many small employers are looking at, and turning to Self-Funding for their benefit plans.

USA Business Choice was founded exclusively for Smaller Employers and their entry into the Self-Funded world. We have built products for the Small Group market to work with the educated broker.

If you have any other questions on this or any other topic relating funding health insurance, let us know!

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As companies are looking at their options for healthcare, they often ask what is Stop Loss? Small businesses, in particular, are always looking for ways to hire and retain top employees, and they wonder if Stop Loss coverage and self-funded insurance is right for them. As an alternative to Obamacare, self-funding and Stop Loss work together to provide outstanding, affordable benefits and protect against the financial risk to employers in the event of catastrophic illnesses or accidents. That's the benefit in a nutshell. Here's a little more detail:

What is Stop Loss?
Stop Loss insurance coverage protects a business in the event of higher than average claims by employees. Businesses who use self-funded plans assume all of the risk for paying claims and gives employees flexibility with their insurance plan.  It can easily be explained by showing the company that this type of insurance plan will stop the loss of profits and revenue when employees have extensive claims due to cancer, catastrophic illness or a major accident.

Advantages of Stop Loss Protection
Self-funded insurance plans are unique to each company. Small businesses can determine what type of coverage to provide and how it will be offered to employees.  In today's economy more and more people are looking at the benefits package of a job in addition to the salary. If your small business can offer a great benefit plan, you will be more likely to find great employees who want to stay with your business.  Of course with a self-funded plan, the chance for loss of revenue increases if employees experience serious health issues...unless you have added protection. So what is Stop Loss insurance? It is the peace of mind businesses need when offering great insurance plans.

If you are still asking the question, what is Stop Loss? and you want more information, contact us at USA Business Choice. We will be happy to answer your questions and provide you with great Stop Loss and self-funded insurance.  Give us a call today.

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Protecting employees working for small businesses is essential in a competitive market. One of the key aspects to hiring and retaining excellent employees is to offer a great benefits package. Employees today are not only looking at their future retirement benefits, but they are also looking for healthcare coverage. Although some businesses opt to enroll in the Affordable Care Act (ACA) other businesses enjoy the flexibility and control that comes with a self funded plan. Stop loss coverage can help protect employers when there are catastrophic illness or accident claims.

Tailoring Healthcare Plans
Self funded insurance plans have become increasingly popular to tailor healthcare to meet the needs of employees working for specific businesses. Instead of paying a premium through the ACA, businesses can work with a plan administrator and take on the full risk of paying claims as a company benefit. This system can save the business money over the years and offers more control with healthcare providers, prescriptions, and other health benefits. Small businesses also need to consider the higher risk to the company if there are several claims for serious illnesses or accident claims. This is where stop loss coverage can help. USA Business Choice offers a variety of plans to give companies options when it comes to healthcare.

Saving Money while Limiting Risk
Over the years a company has the potential to save money using a self-funded healthcare plan. Employees may be healthy for several years and only submit small claims the company needs to pay. From time to time, companies could experience in increase in claims due to unexpected circumstances. Cancer claims or a serious accident could impact the business cash flow. Stop loss coverage is designed to limit the company's liability based on pre-determined amounts of coverage for the employees covered by the plan. This type of coverage protects the business and employees and increase financial stability.

To learn more about the benefits of stop loss coverage contact USA Business Choice to learn about all of the options available for your company and employees.

When looking for the best business insurance for your small- to medium-sized company, we at USA Business Choice believe that business owners need to consider the benefits of self-funded health coverage. But, for some, the world of self-funding may not be completely familiar. So, to help you gain a better understanding of this alternative to the PPACA, we have compiled a list of some terms that will help you when making your choice for the best business insurance:

Aggregate Stop Loss Insurance protects an employer from unanticipated high overall claims. It is generally designed to provide a “cap” or maximum dollar amount on the exposure the employer plan will have, before the protection kicks in.

ERISA is a federal law that sets minimum standards for retirement and welfare benefit (health) plans in private industry. It protects employees in cases of a company bankruptcy or other unforeseen circumstances.

Patient Protection and Affordable Health Care Act (PPACA) is commonly known as Obamacare. The PPACA was signed into law as a means of providing affordable health care to Americans.

Self-funded health care is a self-funded insurance plan where the employer provides health or disability benefits to employees with its own funds.

Specific Stop Loss Insurance protects an employer or plan against any one person’s large claims in a plan year—or a “specific” claim. It caps a large claim at a “specific,” or predetermined amount.

USA Business Choice is a U.S. based company that specializes in self-funded insurance and risk management solutions. As a leader in the industry, USA Business Choice offers employers several options to traditional insurance and the PPACA.

Of course, there is much more to understand about self-funded insurance, but the concept is really very simple. If you want to maintain better control of your insurance options, save money, AND provide outstanding benefits for your employees, then making the move to self-funding is definitely worth looking into. Contact us at USA Business Choice for more information. We will be glad to help you define the best business insurance for you and your company.
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