alternatives to cobra help employers and employees win in post aca world

New alternatives to COBRA help employers & employees win in the post-ACA world

© Benefitter Insurance Solutions, Inc. 2014

As employers and brokers, we always try to do right by our employees


From the day they join, to the day they leave


But no matter how much we try to soften the blow….


…losing a job can be devastating


Especially when it also means you lose your health benefits


Talk about getting kicked when you’re down


That’s why COBRA1 has been a critical way for workers to get coverage while in between jobs

1 The Consolidated Omnibus Reconciliation Act of 1986


COBRA has two key features that set it apart from other insurance options, making it a great safety net


First, anyone can get covered, regardless of any pre-existing conditions

Guaranteedissue


Second, the costs stay the same, regardless of your past medical history

No medicalunderwriting


Group coverage

COBRA

$17k

$5k

Annual employee premium cost

Family coverage

Based on 2013 data from Kaiser Family Foundation

However, COBRA is expensive


COBRA

$17k

Group coverage

$5k


However, COBRA is expensive

Under CORBA, employees must pay for their portion of the premium, plus the employers’ portion, plus a 2% administrative fee


Family coverage


But now there’s good news for Americans looking for more affordable alternatives to COBRA


As a result of new health regulations, the individual market now has all the advantages of COBRA

Guaranteedissue

No medicalunderwriting


COBRA

$17k

Group covera

ge

$5k$2k

Individual

market


Family coverage


But at a much lower cost


Group covera

ge

$5k

Individual

market

$2k

COBRA

$17k


But at a much lower cost

The individual market provides access to federal subsidies, that can offset the cost of insurance by more than half


Family coverage


Employers also benefit when their workers shop on the individual market, rather than enroll in COBRA


That’s because COBRA utilizers tend to be higher-risk (costlier) populations

Increased COBRA participation often contributes to higher employer group rates


The individual market clearly represents a win-win for employers and employees alike


And at , we make it easy for you

to take advantage of this new market dynamic

Let ushelp you


With Benefitter Communicator, brokers can quickly generate automated notices to alert departing employees about individual market options


These notices can be customized with broker or employer branding, as well as employee-specific “special enrollment period” deadlines


Employees are directed to a straightforward enrollment platform that guides them through their insurance options


Real-time reports provide visibility into employee response, and make it easy for brokers to summarize their added value


We’re entering a whole new world of health benefits. We invite you to learn more by clicking the link below.

Click to learn more

http://www.benefitter.com/campaigns/landing.html


[email protected]

www.benefitter.com

alternatives to cobra help employers and employees win in post aca world

Healthcare