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Consumer Driven Health Care Defined Contribution Plans

Consumer Driven Health Care Defined Contribution Plans. Better, more affordable coverage allowing you to attract and retain good employees FICA savings on cafeteria plan contributions Control over future premium Greater appreciation from employees because everything is shown as compensation

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Consumer Driven Health Care Defined Contribution Plans

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  1. Consumer Driven Health CareDefined Contribution Plans

  2. Better, more affordable coverage allowing you to attract and retain good employees FICA savings on cafeteria plan contributions Control over future premium Greater appreciation from employees because everything is shown as compensation Premium savings and HSA contributions for owners Advantages of Defined Contribution for Employer

  3. Defined Contribution Platform Employer Employee Fixed dollar contribution EE Contributions Section 125 / HRA Employee Education and Decision Support • Education on insurance basics and products • Personal consultation on which plan is right for employee • Plan enrollment and ongoing support • H.S.A. savings calculator and education • Cafeteria plan explanation and guidance Employee Elections Employee Choices • Group Products • Current medical • (if available) • Indemnity plans • Dental • Vision • Supplemental • Individual Products • H.S.A. plans • Traditional Copay Plans • GI plans in near future • Spending Accounts • Health Savings Account • Flexible Spending Account

  4. Insurance Carriers Network prices are extended to non-network providers in emergency situations or if pre-approved in cases where that is the only provider able to provide that specific treatment

  5. Complete Health PlanMOST EFFECTIVE WAY TO MANAGE RISK ASSOCIATED WITH HEALTHCARE EXPENSES High Deductible major medical plan that covers 100% of medical expenses after the deductible. Can include decreasing deductible, preventative and wellness care and a nationwide network. Features include Consult-a-doc, Medical health advisor, Diagnostic and lab discounts, RX, physician, and hospital discounts, dental and vision discounts HDHP 87% of major claims can be attributed to accidents or critical illnesses. These policies eliminate most if not all deductible expenses for these events Health Perx Accident /Critical Illness Health savings accounts are the most powerful and flexible financial tools that exist today. They allow you to save and spend money tax free. Can be used for things not covered by health plan. Rolls over from year to year. Savings and compounding interest can create a supplemental retirement account Health Savings Account

  6. A Few Groups Already Using DC • Anesthesia Resource Management • Eastern Shore Medical Specialists • Brookwood Internists • Baldwin Bone and Joint • Diagnostic Physicians Group • Founders Investment Banking • Reliance Financial • Haskell Slaughter • Hartman Blackmon & Kilgore • Birmingham Surgical • Bayside Orthopedic • SportsMed Orthopedic

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