With major provisions of health reform taking effect in 2014, the landscape of group health insurance is rapidly transforming to individual policies subsidized by the federal government and employers.
Park City Utah (PRWEB) December 19, 2013
Zane Benefits, a technology company focused on revolutionizing the way U.S. employers provide employee health benefits, announced today the launch of its new website, http://www.zanebenefits.com. The new website fully reflects its mission to change the way employers deliver healthcare to employees.
According to Zane Benefits’ President Rick Lindquist, “with major provisions of health reform taking effect in 2014, the landscape of group health insurance is rapidly transforming to individual policies subsidized by the federal government and employers. Zane Benefits is working to revolutionize the way employers provide employee health benefits in America.”
The average cost to cover an employee with group health insurance increased from $2,196 per year in 1999 to $5,884 per year in 2013, according to Kaiser Family Foundation’s annual report. For family coverage, the cost increased from $5,791 per year in 1999 to $16,351 per year in 2013.
“Health insurance is the single most important consumer financial product Americans purchase today,” says Lindquist. “One wrong step can bankrupt even the most affluent family. Yet, most Americans don’t get to pick their own health plan or doctor network. Rather, they get a one-size-fit-all group health insurance plan chosen by someone else. The kicker is that group health insurance has become unaffordable for most small businesses. It’s broken.”
Zane Benefits solution, ZaneHealth, involves transitioning employees to individual health plans that are permanent and portable. With ZaneHealth, employers drop group coverage, but continue to offer a health benefits program that creates happy, loyal employees by providing a monthly healthcare allowance (or “defined contribution") that employees choose how to spend. According to Lindquist, employees are better off with individual health plans.
Mr. Steve Hooper, a New York business owner quoted in a recent NY Times article, appears to agree with Lindquist. "When you do the math... it’s pretty clear that in our particular case, everyone is going to benefit if we get out of the insurance business."
About Zane Benefits, Inc.
Zane Benefits, the #1 online health benefits solution, was founded in 2006 to revolutionize the way employers provide employee health benefits in America. We empower employees to take control over their own healthcare, while helping employers recruit and retain the best talent. Our online solutions allow small and medium-sized businesses to successfully transition to a health benefits program that creates happier employees, reduces costs and frees up more time to serve their customers. For more information about ZaneHealth, visit http://www.zanebenefits.com.