Just in time for the 2018 open enrollment period, NPMA will launch our new Health Care Exchange! The goal for this program is to provide NPMA members with cost effective benefit solutions that make sense in today’s unpredictable marketplace. We are focused on providing small and mid-sized employers with benefit options previously only made available to larger employers. Some of the benefits that are being offered are as follows:
National General Benefits Solutions
Self-Funded Medical Plan is available to those groups that meet the standard requirements of number of eligible employees with PPO and HSA-compatible high-deductible health plans available. Available in all states except DC, HI, NH, and NY. Block underwriting advantage for all NPMA members. With the self-funded program, your money in your claims account goes towards your group’s claim expenses and you end up paying for only the services your group uses. If there are additional funds available at the end of the year a percentage of that is returned to the employer.
HRA offering – For those employers that don’t meet the underwriting guidelines, or have higher than expected premiums, there is a new HRA plan that can employers can chose. Small employer HRA’s are cost effective for you, your employees, and their dependents. Offering a small employer HRA to employees allows them to use tax-advantaged account dollars to pay for individual healthcare premiums and any out of pocket cost they or their dependents my incur. In 2017 you can contribute up to $4950 for an individual and $10,000 for a family. There is no setup fee or monthly minimum charge.
Consumer Directed Spending Accounts
Health Savings Account (HSA) – an HSA is a tax-advantaged personal savings account that can be used to pay for medical, dental, vision and other qualified expenses now or later in the employee’s life. The funds can be invested, making it a great addition to employees’ retirement portfolio. HSAs provided through the exchange include a centralized employer portal for establishment, funding and administrations of employee HSAs.
Health Care FSA – A flexible spending account (FSA) is an employer-sponsored benefit account that allows employees the opportunity to set aside pre-tax funds to help pay for eligible healthcare expenses.
Dependent Care FSA gives your employees the ability to pay for work-related dependent care expenses with pre-tax dollars. DCA’s may provide your employee more tax advantages than the federal income credit.
Limited-Purpose FSA – For employees who are actively contributing to an HSA account, a Limited-Purpose FSA allows for employees to maximize their health care dollars. A Limited Purpose FSA can be used for immediate dental and vision expenses, that HAS dollars can be saved for future medical expenses.
There is no setup fee or monthly minimum charge.
125 Cafeteria plan administration – DK Young will create or amend plan documentation at no additional cost.
Voluntary Insurance Products (VIP) through Transamerica Life Insurance Company
AccidentAdvance®– An off-the-job accident insurance policy can help employees pay for medical bills and other out-of-pocket expenses that often arise after an unexpected injury. They will receive benefits to help with emergency room treatment, fractures and dislocations, follow up treatments, surgery, hospitalization, intensive care and more – all in addition to any other insurance they may have.
CancerSelect® Plus – A voluntary cancer-only insurance policy can assist employees with benefits to help defer the direct medical and indirect non-medical costs of cancer treatment. The policy can help pay a variety of expenses associated with cancer care, including chemotherapy and radiation, surgery, hospital confinement, transportation and lodging and has a first occurrence benefit for employees who are initially diagnosed with cancer.
TransDI® Plus – A short term disability income insurance policy will pay employees a monthly benefit if they are unable to work because of a covered illness or injury. Following a short elimination period, this income protection benefit replaces a portion of their income helping them to meet your financial commitments. Employees can replace up to 60% of their income up to a maximum of $2,000 allowing them to focus on recovery and getting back to work.
Hospital Select® II – A hospital indemnity insurance policy pays an employee a specified benefit amount for each day they are confined to the hospital or intensive care and it also pays a benefit for hospital confinement. They can use hospital indemnity insurance benefits to defray expenses like deductibles, co-pays or co-insurance amounts by receiving benefit payments or assigning them directly to health care providers.
Trans Select 20 Term Life Insurance – Term life insurance provides employees a guaranteed death benefit amount for 20 years at a set premium. Premiums are scheduled to remain level for 20 years and are guaranteed level for the first five years. The policy allows employees to purchase higher death benefit amounts at lower premium rates than universal or whole life insurance. Employees can purchase up to $50,000; $10,000 for their spouse and $5,000 for dependent children. This insurance is provided through Transamerica Life Insurance Company.
myRxMedSaver – The myRxMedSaver card provides you with discounts of prescription drugs at more than 65,000 participating pharmacies. Save 10-85% immediately on the cost of both brand-name and generic drugs. This is a free program offering with no limitations and no waiting period. The discount card is not insurance.
Discounts by Design
Dental – Members receive discounts of 15% to 50% per visit on dental services at over 132,000 available dental locations nationwide. Save on routine and specialty dental care such as orthodontics and periodontics where available.
Vision – Cost to Coast Vision (CTC) has over 12,000 eye care locations nationwide. Members save on eye glasses, contacts and laser surgery. Save 20% to 60% of prescription eyewear.
Chiropractic – Members save 30% to 50% on X-rays, diagnostic services, and treatments at over 3,000 chiropractors nationwide. Members get relief from back and joint pain, headaches and more with no limit on the number of visits.
Petcare – Members can save with discounts on everything from toys and treats to grooming and eats. 25% off medical procedures at participating veterinarians and 10% to 35% off pet services and supplies.
Complimentary Services – Hearing, Vitamins, Diabetic Supplies and Labs & Imaging are all complimentary services included with any package.
Health Advocate Bundle – Medical Bill Saver can lower out of pocket costs on medical bills not covered by insurance. Advocates will with providers to lower the balance on uncovered medical or dental bills over $400 leading to 25% to 50% potential savings. Medical Health Advisor can help with a broad range of healthcare and insurance related issues. Find doctors, hospitals, and other providers. Nurse hotline offers toll-free access to Registered Nurses 24/7/365 days per year. Computerized record keeping system, medical directors on staff, translation services for non-English speakers.
The cost for the exchange is $6.00 per person with an additional $5.50 for the HRA participants. FSA is an additional $4.00 per month fee. With the election of the TransAmerica products this cuts down cost by $2.00 per month.
This is NOT an all or nothing type of benefit offering. You can take advantage of which ever benefits are most useful for you and your employees. You do not have to have health coverage to take advantage of the other benefits being offered.