It’s no surprise that people overwhelmingly prefer to choose their own personal benefits plan than have a ‘one size fits all’ group health insurance policy. Individual policies mean better benefits!
Better Than Group Health Insurance
A Personal Benefits Plan (switching from group to individual policies for health insurance) makes sense because it lets each employee choose a policy that best fits their own unique needs. And with our ‘concierge’ approach of personalized assistance, it’s a great benefits experience.
A Personal Benefits Plan is
A Personal Benefits Plan (switching from group to individual policies) is just another way to provide employee benefits. Each employee gets their own Benefits Savings Account, that is funded by the employer. This Benefits Savings Account may be used by the employee to buy whatever individual health insurance and other benefits they want and need. The employer sets the budget and lets each employee choose their own health benefits package. It’s that simple!
With a Personal Benefits Plan, your insurance becomes your insurance. It’s your policy, and you never have to worry about your employer changing your group health insurance again.
Personal Benefits Plans are more cost efficient, and often provide insulation against insurance rate increases. Most employees end up with better coverage and increase their take home pay.
Having Group Health Insurance available to you prevents you from getting those subsidies. But a Personal Benefits Plan makes you eligible for them.
- You could get reduced rates on your premiums
- Cost-sharing reductions to reduce your out of pocket expenses
- Group health insurance often costs more than individual policies
- Even if you earn too much to get those subsidies now, what if you lose your job or get sick and can’t work?
- Having a plan that is eligible for those subsidies may make the difference between being able to afford your insurance, or losing it.
- Have a pro help you choose your benefits. It’s even easier than choosing between group health options because you get personal, individual help. Your Personal Benefits Plan Advocate will explain your coverage choices, answer your questions and help you find your optimal coverage.
- Reduce or eliminate future rate increases
- Never go through the turmoil of changing group health plans again!
- And most important: It’s your money. Your Benefits Savings Account is yours, and you get to spend it however you wish.