Park City, Utah (PRWEB) December 11, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on defined contribution and health insurance.
According to Zane Benefits’ website, when considering defined contribution health benefits, one of the first questions employers and employees ask is about the health insurance coverage they'll have access to.
Pure defined contribution health benefits are an emerging employee health benefits solution, gaining popularity with small and medium sized businesses in the US. The basic concept is that the company offers employees health insurance allowances as an alternative group health insurance, which is often unaffordable to small and mid-size companies. This strategy works well because it offers predictable costs while giving employees access to quality health insurance.
Pure defined contribution health benefits by themselves are not health insurance. What the company offers is a healthcare reimbursement plan rather than specific health insurance benefits.
Individual health insurance is a type of policy that an employee purchases for himself and/or his family - just like car insurance. Employees own the policy and can take it with them if they leave the company. Employees pay for their policy, and can use their defined contribution health benefits to reimburse themselves for the premium.
Employees can purchase health insurance from any insurance company in their state. Because of new health reform changes, buying an individual health insurance policy has gotten easier. Employees are no longer asked medical history information on the application, and cannot be denied or charged more because of a pre-existing condition. Employees can purchase insurance through a licensed health insurance agent, online, or through the Health Insurance Marketplace in their state.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHealth") for defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about Zane Benefits, visit http://www.zanebenefits.com.