Saint Charles, Ill. – September 15, 2015 – Over the last 15 years, group health insurance premiums have increased by more than 172 percent* and there is nothing to indicate this trend will slow down. American Health Resources (AHR) has created a way for small and mid-market employers (SMBs) to escape this trend by replacing their group health insurance policy with individual policies. It is an entirely new approach to employee benefits: the employer gives each employee a “Benefits Savings Account,” funded by the employer, and lets each employee choose their own benefits package, including their own health insurance policy. The main advantages of the Personal Benefits Plan are that it:
- Saves employers and their employees about 30 percent in premiums and out-of-pocket medical expenses,
- Is compliant with the Affordable Care Act, and
- Is immune to rigid open enrollment time frames that typically limit companies to a 30-day window.
Many employers have expressed interest in an individual policy-based benefits plan, but haven’t been able to find one that is compliant with the Affordable Care Act. A first-of-its-kind solution, the AHR Personal Benefits Plan finally achieves this. It puts together the right mix of pre-tax and after-tax benefits, taking into account employee medical expenses, federal subsidies and cost sharing that will produce the best result for each individual employee. And since it’s all inclusive, used at the direction of the employee, the Personal Benefits Plan is fully compliant with IRS regulations and exempt from group health rules. What’s more, each employee gets help choosing their optimal insurance coverage so they can make the best decision for themselves and their families.
As the group health insurance renewal period approaches, now is the time to consider an alternative way of providing benefits. The goal is to find the method that maximizes employee satisfaction and keeps costs under control. For companies with fewer than 50 employees, a solution chosen by each consumer is likely to be better at both.
“This is the most significant evolution in employee benefits for SMBs since the 1980s,” said Kent Utsey, President and Founder of American Health Resources. “We are finally able to harness the power of consumerism to broaden choice, drive costs down and give each employee the ability to choose the benefits they truly want. In virtually every other industry, consumerism has improved quality and reduced costs. Now we have a way to use that power in health insurance and employee benefits. It’s how we are going to build a healthier, more satisfied workforce.”
*Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 1999-2012
About American Health Resources
American Health Resources is a leading health care benefits provider for small to mid-sized clients. . A first-of-its-kind solution, the AHR Personal Benefits Plan replaces costly group health insurance and instead allows employers to set the budget and employees the freedom to select plans based on their unique health care and benefits needs.
For more than 20 years, AHR’s unique approach to health care combines advanced technology that identifies the most competitive plans with the human touch of expert health insurance advocates. Through its personalized concierge service, AHR takes more care of small and mid-market clients than any other health care benefits provider. For more information, please visit: www.ahr.net.
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