HRA Approach for Wage Earners

[ABC]

Had another meeting on the HRA approach. This one was different because the average wage was $14 hour.

The group really liked the thought of dropping the group health and going individual. The ownership has health problems of their own, so GI made them happy.

Then we crunched the numbers on possible subsides inside the exchange. You take an employee making about $35K a year (bread winner in the family) This guy is looking at $120 a month after subsidies on the silver plan Vs. $800 a month on the group health plan. When you 42 guys all in the $14 hour market the HRA approach looks really good.

 

[Ann H]

Had another meeting on the HRA approach. This one was different because the average wage was $14 hour.

The group really liked the thought of dropping the group health and going individual. The ownership has health problems of their own, so GI made them happy.

Then we crunched the numbers on possible subsides inside the exchange. You take an employee making about $35K a year (bread winner in the family) This guy is looking at $120 a month after subsidies on the silver plan Vs. $800 a month on the group health plan. When you 42 guys all in the $14 hour market the HRA approach looks really good.

That sounds like a great sale for you! Congratulations.

 

[ABC]

That sounds like a great sale for you! Congratulations.

It's existing group business but small group is not going to make in these type of industries.
but thanks!

 

[GBurns]

How did you get around the questions on the Individual Application etc and the List Bill Agreement that asked about the employer group plan and employer reimbursement?

How do you get around Indiana insurance laws and HIPAA?

 

[ABC]

How did you get around the questions on the Individual Application etc and the List Bill Agreement that asked about the employer group plan and employer reimbursement?

How do you get around Indiana insurance laws and HIPAA?

George,
I have seen you on other forums and know you are against the HRA approach. I also know that you do not actually sell benefits.

The IRS allows an HRA to reimburse Medical expenses.

The HRA is sponsored by the employer. The insurance contract is a separate arrangement with insured and the carrier.

So by all means contribute to the forum but you should make it know that you do not sell any benefits except legal.