Major Medical
Comprehensive Group Major Medical
At Axios Benefits, we specialize in providing tailored Group Major Medical Insurance solutions that deliver comprehensive
healthcare coverage for employers and their teams. Our approach ensures that your organization receives not only robust coverage options but also cost-effective strategies to manage healthcare expenses while enhancing employee satisfaction and retention.
At Axios Benefits, we specialize in providing
tailored Group Major Medical Insurance solutions that deliver comprehensive healthcare coverage for employers and their teams. Our approach
ensures that your organization receives
not only robust coverage options but also
cost-effective strategies to manage
healthcare expenses while enhancing employee satisfaction and retention.
Customized Solutions to Meet Your Needs
We collaborate with all major carriers to design and implement Group Major Medical plans that align with your company’s unique requirements. From optimizing network accessibility to balancing cost-sharing structures, our expertise ensures your plan offers maximum value.
We collaborate with all major carriers to
design and implement Group Major Medical
plans that align with your company’s unique requirements. From optimizing network
accessibility to balancing cost-sharing structures,
our expertise ensures your plan offers maximum value.
Regulatory Compliance and Expertise
Navigating the complexities of the Affordable Care Act (ACA) can be challenging. Our plans are fully compliant, meeting requirements for essential health benefits, minimum value standards, and affordability criteria. We proactively address these regulations to keep your organization protected and penalty-free.
Navigating the complexities of the Affordable Care Act (ACA) can be challenging. Our plans are
fully compliant, meeting requirements for
essential health benefits, minimum value
standards, and affordability criteria.
We proactively address these regulations to
keep your organization protected and penalty-free.
What factors should employers consider when selecting a Group Major Medical plan?
Employers should evaluate several critical factors:
⚫️Network Size & Accessibility: Ensure the carrier offers a robust network of providers to accommodate employees across multiple locations.
⚫️ Cost-Sharing Structure: Analyze the balance between employer contributions, employee premiums, deductibles, and out-of-pocket maximums to meet budget goals.
⚫️ Compliance Requirements: Ensure the plan adheres to ACA mandates, including minimum essential coverage and affordability tests, to avoid penalties.
⚫️ Value-Added Services: Look for wellness programs, telehealth options, and integrated tools for managing employee benefits.
How do Group Major Medical plans align with ACA (Affordable Care Act) regulations?
Group Major Medical plans must meet ACA standards, including:
⚫️ Essential Health Benefits (EHB): Covering services like emergency care, maternity, mental health, and preventive services.
⚫️ Minimum Value Requirements: Plans must cover at least 60% of expected medical costs.
⚫️ Affordability Criteria: Premiums for employee-only coverage cannot exceed 9.12% of an employee's household income (2023 figure, subject to annual adjustments).
⚫️ Failure to comply may result in employer penalties under the Employer Mandate provisions.
What cost-containment strategies are available with Group Major Medical plans?
Employers can implement strategies to manage expenses, including:
⚫️ Self-Funding or Level-Funding: For larger groups, these options allow greater control and potential savings.
⚫️ Wellness Initiatives: Encourage healthy behaviors to reduce claims through incentives like reduced premiums for participation.
⚫️High-Deductible Health Plans (HDHPs): Pairing with Health Savings Accounts (HSAs) to lower premiums while offering tax-advantaged savings for employees.
⚫️Carrier Negotiations: Partnering with a broker to negotiate plan terms, rates, and network enhancements.
How can Group Major Medical plans be integrated with ancillary benefits for maximum impact?
Group Major Medical plans can be enhanced by bundling ancillary benefits such as dental, vision, and disability insurance.
⚫️ Comprehensive Employee Wellness: A cohesive benefits package addresses employees' physical and financial health, increasing engagement.
⚫️ Cost Synergies: Bundling with a single carrier can reduce administrative fees and improve rate negotiations.
⚫️ Customizable Plan Tiers: Offer options where employees can opt into additional coverages tailored to their unique needs, increasing perceived value without a significant cost increase to the employer.
Cost-Containment Strategies
Axios Benefits goes beyond traditional offerings by integrating innovative cost-management solutions, including:
⚫️ Self-Funding and Level-Funding Options to provide financial flexibility for larger groups.
⚫️ Wellness and Preventive Care Programs that reduce claims and promote a healthier workforce.
⚫️ High-Deductible Health Plans (HDHPs) paired with Health Savings Accounts (HSAs) for premium reduction and tax advantages. Expert carrier negotiations to secure favorable rates and benefits.
