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What is a Healthcare Insurance and Benefits Broker?

A Guide To Getting The Most From Your Benefits Healthcare brokers are licensed professionals with knowledge and expertise in health insurance and benefits. To earn a health insurance license, individuals must pass several state-specific examinations. These exams test their knowledge of policies and provisions, insurance terminology, tax considerations on the federal and state level, differences between individual and group insurance plans, and health maintenance organizations (HMOs). Healthcare brokers do not offer or issue health insurance or work for a specific insurance carrier—they are advisors who have relationships with multiple insurance carriers to advise you on the right one for your …

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What are QSEHRA and ICHRAs? Understanding Health Benefit Plans for Small Business

The qualified small employer health reimbursement arrangement (QSEHRA) and the individual coverage health reimbursement arrangement (ICHRA) are health benefit plans designed for small businesses. Both QSEHRA and ICHRA give employers the ability to set employee reimbursement allowances for health insurance policies and qualified medical expenses. It’s a win-win approach: employees receive a tremendous benefit, and small businesses can contain their healthcare expenditure. Differences between a QSEHRA and an ICHRA While both of these arrangements perform the same essential functions, their operating mechanisms are a bit different. These differences are also what defines their suitability to your business goals. Let’s take …

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The True Cost Of Small Business Group Health Insurance

What is Group Health Insurance? Group Health Insurance is a selected plan that provides health care to a predetermined, select group of people. These health insurance plans are generally uniform in policy offering the same health care coverage to all employees or members of the group. Is Group Health Insurance a Good Investment For My Small Business? The answer to that is in short: No. Why?

Goodbye Employer Provided Health Insurance

An article from Market Watch highlights Rick Lindquist and Paul Zane Pilzer, co-authors of “The End of Employer-Provided Health Insurance.” The book goes over why group health insurance is a thing of the past and why individuals, their families, and their employers are all benefiting from moving away from group health insurance options. Group health insurance rates continue to rise and that’s where Zane Benefits steps in. Zane Benefits is not a health insurance company, but a company that administers defined-contribution plans. What is that you might be asking? It is a benefit plan that gives employees a set amount of money each …

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What is Zane Benefits?

Here at DesignTM Health, we partner with a company called Zane Benefits. As we continue to look at and promote small businesses I wanted to introduce you to one that is on the cutting edge of what healthcare is and will be. As group health insurance fades away you will see Zane Benefits name more and more often. What’s so innovative and great about this company and who are they? Let me tell you with their own introduction from their website, “Zane Benefits is the leader in individual health insurance reimbursement for small businesses. Since 2006, Zane Benefits has been on …

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Good Decisions For Small Business Healthcare

Under the Affordable Care Act (ACA) a small business above 50 employees is required to provide healthcare for their employees. These companies that have 50 or more full-time employees must provide health insurance to 95% of their employees and dependents up to age 26 or risk paying a tax penalty of $2,000 per full-time employee. An article on Forbes says, “many small businesses still do provide health care for their employees, either out of a sense of responsibility or out of a desire to attract quality candidates (or both).” Although, depending on how those plans are paid for you could run into some …

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