Does the high cost of group health insurance keep you up at night?
Do healthcare premiums have you sick? Are monthly insurance bills eating your profits? Are they robbing you of funds to grow your business?
If so, you are not alone…
Too many employers today feel held hostage to skyrocketing healthcare costs with no end in sight.
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- Do you shop your insurance every year, but nothing seems to help?
- Do you feel you’ve seen it all when it comes to group health insurance?
- Do you already “have a broker” and doubt any new solution can make a difference?
- Are you clinging to an older plan because you fear losing benefits?
Well, I have some incredibly good news for you!
I’m sure you’ve heard people talk about the idea of businesses joining to save on insurance.
This vision is becoming a reality through something called a MEWA. In recent years, hundreds of Ohio businesses have joined MEWAs to save on group health insurance.
“MEWA” stands for Multiple Employer Welfare Arrangement.
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- MEWAs enable businesses to join through associations like Chambers of Commerce to share in overall claims risk.
- MEWAs offer a special opportunity for savings because they can use rating methodology that is similar to pre-ACA rating.
- MEWAs are often backed by the stop-loss of large insurers – frequently names you would recognize.
MEWAs offer innovative, affordable, and attractive benefits.
This includes items like,
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- Competitive premiums.
- Predictable, fixed payments with monthly billing.
- Choices in plan design – including PPO, HSA and wellness offerings.
- Discounted rates on ancillary benefits like dental, vision, life, and disability insurance.
- Broad networks of physicians, hospitals, and pharmacies.
Finally, a breath of fresh air to the group health insurance market!
Businesses joining together clearly has its advantages – actual choices, cutting-edge benefits, and more affordable rates!
On the flipside, it makes sense to ask, “Are there drawbacks to a MEWA?”
As great as they are, MEWAs aren’t a match for every company.
Some important features of MEWAs:
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- For certain Ohio MEWAs, to participate, the business must be domiciled in Ohio.
- Employers must generally belong to a common association (i.e. like specific Chambers of Commerce).
- A MEWA may limit group eligibility to a range such as, “No fewer than 2, but no more than an average of 50 enrollees.”
- Also, while a particular MEWA may not decline coverage due to health reasons, rates are based in part on the expected risk of employees’ future health claims.
Still, it’s better not to second-guess what your final rates may be. Even we are surprised by the savings many businesses can achieve – and we do this for a living!
Ohio companies are already achieving superior outcomes through MEWAs. Why not your business?
The only way to really know if a MEWA makes sense for you is to give looking into one a try.
We’re here to help!
McCarthy Stevenot Agency, Inc. has been guiding Cincinnati businesses with group insurance for over 30 years. We can guarantee you our full attention, and our sweet spot is personal, local service – especially for 2 to 50 employee groups.
Imagine a solution to group health insurance that makes a real difference for you…
One that reduces your stress, offers you great benefits and leaves you with more dollars to grow your business.
And maybe even helps you get a better night’s sleep…
Don’t delay! Take the next step…
Find out now if a MEWA is right for your company.
Return your completed quote request form via email, fax, or mail.
There is NO cost or obligation.
Best,
Ted Stevenot
Partner
McCarthy Stevenot Agency, Inc.
Cincinnati, OH
PS. I don’t know if it’s happened to you, but many businesses have had their renewals moved to December or January. This makes reviewing alternatives at year end more difficult because of the logjam it creates with insurers. Don’t wait until renewal to explore your options. By looking now, you could start saving even sooner! Click to request MEWA quote today!
