There’s a new plan in town
By David Notari, CEO of Innovation Health
If you are a business owner in Northern Virginia you are most likely renewing your health insurance this fall. With all of the options available for your business, it is important to know what is available to you. Here’s what you need to know before you shop this year.
There’s a new plan with big savings
As the CEO of a small business and health plan I understand that navigating the health plan selection process can be complex and confusing. That’s why this year we are offering a completely new kind of health plan for your local business – the Innovation Health Funding Advantage Plan. This easy to understand, quality, affordable coverage plan for local businesses and residents is available to all Northern Virginia Chamber of Commerce members between 10 to 50 enrolled employees. Designed to deliver dramatic savings for small businesses, the Innovation Health Funding Advantage plans will go one step further in addressing your health needs at an affordable price. With this arrangement, Northern Virginia Chamber members will receive an extra two percent reduction on health plan premiums.
What’s more? Since the movement of small groups to December renewals in 2013, many groups have wanted to move to a 1/1 renewal cycle. And now they can. We’re offering a 13 month contract for December 2016 new sales. That means your employers can experience the savings of a self-funded plan in addition to 13 months of benefits.
To learn more about these plans watch the Innovation Health Funding Advantage video here or visit our company website.
Your plan choice should be flexible and affordable
Two years ago the Affordable Care Act (ACA) changed the way rates are generated for people on small group insurance plans. Similar to last year, heading into this year’s open enrollment you will find that there are different rates for everyone in your company, depending on their age. For example, recent college graduates will have a different rate than the executive with 30 years of experience.
As a reaction to this ACA change, some plans now offer something called composite rating for small businesses, where the rates for all employees are blended into a single rate. This is an attractive option for Northern Virginia business leaders because it brings predictability to health costs. Without a composite rate, business owners may be forced to evaluate coverage expenses as part of their hiring strategies, which is never ideal. Composite rates free owners to focus on bringing the right people into their business, and accurately planning for the future. If you are not a chamber member, but are still interesting in saving on your health insurance this year visit the Innovation Health website and see our plan choices for 2017.
There isn’t a one-size-fits-all health plan option for all your employees. With different ages, salaries and family needs, what might be ideal for one employee is often different from what is ideal for another.
To learn more about our flexible, affordable coverage plans for business of all sizes visit
www.innovation-health.com or call our toll-free number at 1-855-228-0510.