Zane Benefits Publishes New Information on Individual Health Insurance Marketplaces

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Four Key Facts for Individuals, Businesses, and Insurance Professionals on the Marketplaces

Marketplaces

Today, Zane Benefits, Inc. published new information on Individual Health Insurance Marketplaces. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in defined contribution and health reimbursement arrangement plans.

According to Zane Benefits’ website, as part of health care reform health insurance coverage for individuals will become available through new individual health insurance marketplaces (also called "exchanges"). There are four key facts for individuals, businesses, and insurance professionals about how the individual health insurance marketplaces will work.

Each state's individual health insurance marketplace will open October 1, 2013 for enrollment in coverage beginning January 1, 2014.

According to Zane Benefits’ website, the individual health insurance marketplaces will work for employees the following way:

Step 1: Individual goes to his or her state's individual health insurance marketplace website.

Step 2: Individual completes one application.

Step 3: Individual health insurance marketplace displays all available plan options within metallic tiers and displayed cost will factor in tax subsidies (discount to premium). All plans will be guaranteed-issue, and are portable.

Step 4: Individual selects plan.

Step 5: Individual health insurance marketplace bills individual for his or her portion of premium (i.e. the total premium minus tax subsidy) and marketplace forwards payment to the carrier.

According to Zane Benefits’ website, the plans offered through the individual health insurance marketplace will be guaranteed issue (cannot be denied because of pre-existing condition). But, there's a catch. That is, consumers can only enroll in guaranteed issue health insurance during designated enrollment periods.

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About Zane Benefits

Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.

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Christina Merhar
Zane Benefits
800-391-9209 6725
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