How SuperAgent Can Help You!
“I really didn’t know exactly how expensive our small business health insurance was until SuperAgent ran the numbers for our company. We’re always fighting back health care costs and were about to cut back on our coverage. But after seeing the reports, we picked another health insurance plan and saved about 50%. We actually got better coverage for less money.”
Holly Frisque, HR Specialist, Gizmo5 Technologies
This presentation is for Brokers, Agents, HR Professionals, Employers and Employees...
To discover a fresh new approach to understanding small business health insurance solutions for California. It begins with the basics and moves to valuable new solutions to the health care crisis.
If you don't know, you are paying too much!
Covered and Protected
Why we all need good health insurance!
Payment of covered medical expenses
Guaranteed emergency care on the spot
Peace of mind
Next to the salary that you receive from your job, health insurance benefits are the second priority of most individuals.
This is especially true to families or individuals who have frequent health issues.
Health insurance coverage provides peace of mind, knowing you'll have what you need in case of an emergency or catastrophic illness.
300 Ways to Get Your Share
Finding the right health insurance plan can be a problem!
Over 300 small group plans in California
$5-6 M in benefits for every insured client
Benefits and cost vary from plan to plan
To ensure you have a high performance insurance plan, you need to evaluate premium costs, benefit coverages, co-pays, deductibles, and maximum out of pocket limits.
In addition, you'll need to see how each plan pays small, medium and large claims compared to your current small business health insurance plan.
Cost Containment
Guaranteed fees, within networks of either HMO or PPO
Negotiated rates as much as 75% lower
Health care cost has been limited by agreements between insurance companies, thousands of doctors, service providers and hospitals.
Under the Explanation of Benefits you can see what uninsured patients pay (called the book rate).
Because you're an insured patient, you only pay the negotiated cost, or Eligible Expense.
How May Ways Do You Pay?
Premiums Deductibles Co-Pays
Co-Insurance until Maximum Out of Pocket Limit
Deductible is the amount you have to pay before insurance payments kick in.
Co-pay is typically a small, frequent claim that can mean expensive premium payments.
Co-insurance is your portion of expenses like 20%, 30% or 40% before your small business health insurance company pays 100%.
Deductible
You pay first - then pay later!
Cumulative over the calendar year
Amount you pay before health insurance kicks in
Exposure limited by your maximum out of pocket
After your deductible amount has been met, you no longer pay 100% of your covered expenses. You begin to pay a shared portion of them.
The higher the deductible, the lower the premium.
Co-Pays
Don't be fooled by the sizzle!
Designed to limit the cost of service
Co-Pays can be more than actual cost
Compare before you commit
Office visit and prescription co-pays are often called the sizzle.
That's because without verifying actual cost, these items can look like a good deal.
Co-Insurance
What's your share of health care cost?
The Insurer and Insured share health care cost
Insurance pays a portion, you pay a portion
Included in the cap on out of pocket fees
If your small business health insurance plan has an 80/20 co-insurance rate, (can be 70/30 90/10 your insurance plan pays for 80% of your eligible medical expenses and you're responsible for the remaining 20%.
For example, with a 80/20 co-insurance plan, on a $100 claim, you pay $20 and the insurer pays $80.
Maximum Out of Pocket
Out of YOUR pocket!
Most policies have a $5,000 maximum
Insurance pays 100% after this has been met
Can be met by co-insurance payments
What isn't clear is when this happens because it's accumulated over the calendar year.
It's also based on your co-insurance percentage. If your plan pays 80%, you pay 20%. Once that meets your maximum out of pocket, the insurance company starts to pay.
The Right Policy at the Right Price
Makes all the difference!
Rates are based on the frequency of claims.
Higher premiums for small, frequent claims.
Lower premiums for large, infrequent claims.
All policies are just different ways to share medical expenses with the insurance provider.
Insurance companies count on most of us having lots of small claims, so they charge much too high premiums for policies that pay out frequently.
To get the best value from your policy, avoid having the insurance company pay for small frequent claims.
What are your chances?
Insurance companies study of the likelihood of illness or accidents happening to groups of people.
Make sure you understand your health risks before you pick a plan.
Playing the Numbers
68% will average annual claims of $150*
24% will average annual claims of $1200*
8% will average annual claims of $12,500*
These statistics show that 92% of you will have small, frequent medical expenses. These claims usually have little or no coverage under health insurance plans.
To better understand this, if I pick a number between 1 and 10, and ask you to guess it, you have a 1 in 10 chance of guessing it correctly. That's a 10% likelihood you'll guess it correctly.
* Source: Watson Wyatt Worldwide
What's a Dollar of Insurance Cost?
Kaiser - HMO Age 50 San Diego
Pay Small Claim Dollars - Save Premium Dollars
Plan A costs you $143 more each month or $1716 more each year than Plan B in non-recoverable premiums.
Max out of pocket expenses are $1000 higher - the premium saving is almost double.
Paying yourself into your HSA the difference of $143 each month amounts to an
annual, tax-free, interest bearing savings account of $1716.
What's a Dollar of Insurance Cost?
Anthem Blue Cross PPO Age40
Pay Small Claim Dollars - Save Premium Dollars
Plan A, costs you $328 more each month or $3936 more each year than Plan B in non-recoverable premiums.
Maximum out of pocket expenses are $2000 more but....
By putting that $3936 into your savings, you have all that $ to pay claims yourself with these Tax Free dollars, leaving only $1064 before the plans pay 100% not $3000 more.
Kiss Your Insurance Premiums Good-Bye
A good reason to buy wisely!
Premium payments are unrecoverable.
Premium coverage for small claims is expensive.
Pay yourself to cover small, frequent claims.
Why pay high premiums to cover 100% of unlikely medical costs?
Instead, consider creating an interest bearing reserve, that grows tax free until you decide when and how to use it.
HSA For a Rainy Day
It's your money!
Tax free, interest bearing accumulation
$3K maximum per individual; $6000 per family
Access anytime with check or debit card
Is $3K per year enough to cover your co-pays? Probably.
If not used, you can convert this money into an IRA or use it to buy other health or insurance products.
Unused money stays yours over accumulating tax free interest.
The SuperAgent Tool
Making health insurance make sense!
Measures and evaluates over 300 health plans
Identifies and ranks the most efficient carriers
Recommends best carrier and best plans
SuperAgent gives you reports of comparisons between your current plan and all the others.
It evaluates each plan by deductibles, co-pays, out-of-pocket maximums and prescription coverage.
In a hurry? This is the quickest way for small groups to find the very best small business health insurance in California.
Rank Your Carrier
This is the report every employer wants to see!
Ranks top 8 carriers by savings and plan values
Updates rates as soon as carriers publish them
Recommends best carrier and best plans
Employers always want to know what carriers offer the best value. But with over 300 small business health insurance plans to compare, it can be confusing.
No more guesswork! SuperAgent shows you what carrier and what plan to pick.
Carrier Savings Revealed
Cut through the clutter!
See the annualized amount you currently pay
Review variable costs at each claim level
Evaluate each plan for every insured
Cost details are computed in various scenarios to determine the best value carrier against the current one.
See annualized savings in dollars or as a percentage.
After a carrier is selected each participant has a secure link so they can privately evaluate their current carrier and plan against all the others.
Select your Plan
You deserve the best small business health insurance!
Employees choose from all plans
Every employee can have a different affordable plan
Value gauges show green for best value plans
Based on individual census information, each employee can calculate their own cost levels, and benefits to see the plan that best suits their needs.
They can compare monthly premiums, deductibles, maximum out-of-pocket and co-pays measuring each plan to the other.
Monthly Budget Bar
You may be paying more than you think!
Enter your monthly premium payment
Add your average maximum out-of-pocket
Set your monthly budget to the closest amount
SuperAgent gives you this tool to help you see how much money you're already paying for coverage you may not be using.
Instead, consider a small business health insurance plan with lower premium payments, higher deductibles and save the difference you're paying the insurance company in your HSA or other best plan recommendations.
SuperAgent Makes It Easy
See for yourself!
Compare over 300 plans from the top carriers
See hidden savings and start saving money
Automatic completion of enrollment forms
It's never been easier to see how much money you can save on your small business health insurance and which plans respond best to your criteria.
See for yourself. It won't cost you a single cent to get a best plan recommendation from SuperAgent.
