Features of Health Insurance Exchanges That Could Attract Small Business Customers
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Transcript of Features of Health Insurance Exchanges That Could Attract Small Business Customers
Terry Gardiner
Small Business Majority
February 22 , 2012
Features of Health Insurance Exchanges That Could Attract Small Business
Customers
Small Business Challenges for Exchanges
• 5.9 million employers with fewer than 100 employees employ 43 M nationally o 78% have fewer than 10 employees
o 58% with fewer than 50 employees do not offer health coverage
• Most small businesses are very small and lack sophisticated human resources departments o Average employer in
Connecticut exchange has 8 employees
• Purchase health coverage through the exchange
• Purchase health coverage in the outside market
• Maintain a “grandfathered” health plan
• Do not offer health coverage
Employers Have Health Coverage Choices
Will the exchange offer “value” – lower price; better coverage;
better services?
• Only half of employers belong to a business group
• Trusted Advisors – their brokers, accountants, peers
• Communication Channels – business press, business groups, trade groups
• Diversity of Businesses – in the office, in the field, languages
Communicating with Small Businesses is Complex
• Brokers will have ongoing role with small business
• Initial launch and reception has proven critical for both employers and brokers
• Successful models train and support brokers on an ongoing basis
o Secure website access for broker
The Critical Role of Brokers
• The exchange and employee choice of health plans will be new for employer and employees - brokers have a key education role
• All necessary information for employer and employees to make decisions on coverage
• One application
• One premium payment & detailed accounting
• One source for enrollment changes
Single Point of Entry for Employers
• Qualification and calculation of the small business tax credit; state programs
• Coverage of out-of-state employees
• Coordinating coverage of Medicare-eligible employees
• Provides additional “HR” services such as COBRA administration, Section 125 service, HSA/FSA/HRA
One Stop Shopping: Services
• Provide workplace wellness through the program components of the health plans offered by insurers.
• Directly provide workplace wellness services and programs that have a positive track record with other SHOP exchanges.
• Educate and provide tools for insurance brokers about the business case for small employers.
• Collaborate with insurers that are innovating workplace wellness programs
• Establish a workplace wellness advisory group
Exchange Roles in Prevention and Wellness
Contact us for more information.
Phone: (866) 597-7431 Email: [email protected]
Website: www.smallbusinessmajority.org
Thank You!