IHC Specialty Benefits, a leading provider of insurance services and products, today announced the launch of Health eDeals at Work, a private health insurance exchange focused on the unique needs of small employer groups.
As a result of the Affordable Care Act (ACA), many small business owners are reevaluating whether it is in their best interests, and those of their employees, to continue to offer group health insurance. IHC’s new Health eDeals at Work solves the small business owner’s dilemma- at no cost to the employer- by providing its workers with an easy to use private exchange tool branded to the business. The new exchange will allow employees to shop for and enroll in ACA-qualified major medical plans from national carriers, as well as ancillary products such as dental insurance and Metal Gap, a guarantee-issue plan designed to fill the gaps created by high deductibles and co-pays under the Obamacare plans.
Some small employers have determined that not renewing their group plan enables them to pay higher wages and be more competitive vis-à-vis their competitors. They also realized that not offering group coverage could be in the best interests of their employees, many of whom may be eligible for subsidies if they were to purchase an individual policy. However, making this change can often be difficult for a business owner who wishes to remain involved as a trusted advisor to his employees in making their benefit decisions. In the past, the employer would handpick a group health plan that it determined would be best for its employees based on price, deductibles, co-pays and breadth of coverage of the network. Such an employer would be reluctant to send its employees to the public exchange with a myriad of choices (some of which have very limited networks) and little guidance as to how to choose the plan that would be best for them.
“Health eDeals at Work allows the employers to continue supporting their employees while giving them choice and flexibility to personalize their benefits,” said Brian Dow, Chief Operating Officer for IHC Specialty Benefits. “It is designed to be used by a licensed insurance advisor to help the business make the transition from a group plan to individual ACA plans. The tools on the site can help the advisor and employee with the decision-making process and the advisor can then help the employee enroll in coverage both on and off the Federal Health Exchange.”
Dow continued, “Because we have been in the employer-group market for over 20 years, we have been able to leverage our knowledge of the small employer purchasing process to create a site that is easy to use and provides a valuable set of benefits for employees.”
To learn more about Health eDeals at Work or to contract with IHC as an insurance producer please visit www.HealtheDeals.com or contact Dave Keller at 952-746-6614.