Companies with 5-50 employees can save thousands on Group Benefits from now until 12/1/2020.
- $300 per subscriber one-time premium credit
- 100% reimbursement of unused claims fund
- 2-4% bundling discount on medical rates for adding dental, vision, and life products
- Up to 15% medical monthly premium discount through the Wellness Engagement incentive
- Expedited Underwriting for companies with 10 or more enrolled employees in the health plan(s)
- Ability for employees to convert Wellness Incentive points to gift cards or merchandise
- NO COST virtual office visits
Example Savings Scenario
Wondering how much this really could mean for your business? Here is an example of a company plan with 15 enrolled employees and the savings this can mean for them (for illustration purposes only):
- Elect to enroll into a health plan with a $400 monthly premium per employee, and add dental, vision, and $25,000 life.
- Bundling discount will drop the monthly premium from $400 to $384 ($400 x 0.04 = $16 monthly reduction per employee).
- Wellness Engagement is a 7% discount at Silver status. Any employee that qualifies takes their $384 down to $357.12 ($384 x 0.07 = $26.88 reduction). For employees that continue on and get Gold status it is 15% savings bringing their monthly premium to $326.40 ($384 x 0.15 = $57.60 reduction).
In the example above, a company with 15 employees would see an annual savings of $7,718.40 or even more if employees reach Gold status.
Let’s Break the Savings Down…
The company would save an immediate $16 per month per employee or $240 monthly ($2,880 annually) by adding voluntary benefits that many employees use regularly. They would also have the ability to save an additional $403.20 monthly ($4,838.40 annually) through carriers, no-cost, Wellness Incentive Program (7% is a biometric screening and some survey questions – very easy achievement). The employees would also get to walk away with gift cards from popular stores and services such as Amazon, Best-Buy, etc., by cashing in their accrued Wellness points.
Start Saving, Today
Could your business use an extra $8,000 savings in your employee benefits budget? Contact Chad with Norgard Insurance Group for further details on how your company may benefit from these savings at 813-454-5072 or complete the provided form above.