With approximately 41% of adults burdened by medical debt1, health insurance has become an increasingly vital employee benefit. Attracting and retaining top talent often hinges on the provision of health benefits, yet small business owners frequently find such benefits financially out of reach due to soaring premiums and rising operational costs.
Small businesses that do manage to offer health insurance face deductibles averaging 50% higher than those of larger companies2 – a frustrating challenge for employers committed to providing accessible and affordable health benefits.
To address this issue, PECAA launched the PECAA Health Plan (PECAA HP) in 2019, specifically designed to offer members an affordable option with comprehensive coverage. PECAA HP’s newest offering – the Care Advocate Program – is the most flexible and affordable option to date because it gives insureds access to three tiers of coverage:
- Care Advocate: Full coverage is provided when a Care Advocate, a personal health care consultant who can help insureds find the highest quality care at the most affordable price, is contacted prior to hospital and facility care, with no copay required.
- In-Network: Coverage is available for care received from a Preferred Plan Provider, subject to copay.
- Out-Of-Network: Coverage applies for services received from Non-Plan Providers, with both copay and/or coinsurance required.
“We’re thrilled to introduce this innovative program, enabling PECAA Max members with five or more employees to offer affordable health insurance tailored to the unique needs of their employees and their families,” says Patrick Thornton, CEO of Anderson Thornton Consultants and PECAA Health Plan advisor. Additionally, all insurance plans under PECAA HP are level-funded. The practice pays a fixed monthly fee to cover employee medical claims, administrative fees and stop-loss insurance, combining the cost savings and customization of self-funding with the financial security and predictability of fully insured plans. This allows practice owners to reap the benefits of level-funding without incurring additional risks.
The Care Advocate Program is just one plan offered by PECAA HP. Practice owners can choose from different plan designs that make the most sense for the practice, including plans for offices with less than five employees. Dental, life insurance and short- and long-term disability plans are also available. Bryan Hoban, PECAA’s Executive Vice President and General Manager of Member Business Advisory, explains, “We aimed to create a financially sensible solution for practice owners. Since its inception, we’ve continuously evolved PECAA HP to meet practice needs by expanding services and reducing administrative burden – a true win-win for our PECAA Max members.”
Click here for more information about the PECAA Health Plan.