By using a self-funded arrangement known as Level-Funding and a plan design we refer to as Limited-Day, the results are a plan that both employers and employees can afford.
SCOTTSDALE, Ariz. (PRWEB) September 03, 2019
Coterie Advisory Group, Inc (Coterie) announced today the launch of a new group health insurance plan for the employer marketplace. The medical plan, named Fundamental Care, is designed to help solve the fundamental problems that plague the U.S. today – namely the issues surrounding affordability and high-deductibles. Employers and employees alike have been struggling with their current options where premiums are too expensive and cost-saving measures of increasingly high-deductibles have made their insurance plans unusable, leaving employees with huge financial burdens.
Since the Affordable Care Act was passed in 2010, the average monthly premium for an individual has risen to $440 per month with an average deductible of $4,533. When surveyed, many Americans indicate that $200 per month (or less) is what they would define as affordable. Considering that 70% of working Americans are living paycheck-to-paycheck and 40% indicate that they don’t have enough savings to cover a $400 emergency, it is apparent that an affordability and high-deductible crisis exists in the health insurance marketplace today.
With Coterie’s Fundamental Care plan, they have developed a unique medical plan structure along with an alternative funding arrangement which has created significant cost savings and a usable health insurance plan with meaningful coverage. The pricing of Fundamental Care is targeted to be 70% the cost of traditional high-deductible health plans, yet it has the benefit of no deductibles.
Aaron Cook, President of Coterie said, "My partners and I have spent our careers focused on providing affordable and alternative healthcare options. By using a self-funded arrangement known as Level-Funding and a plan design we refer to as Limited-Day, the results are a plan that both employers and employees can afford.” Cook added, “The Fundamental Care plan is not a limited fixed-indemnity plan. It meets ACA requirements as Minimum Essential Coverage and the benefits provide 100% coverage for expenses related to preventative, outpatient, and 3-days of inpatient care, after copays are met.” According to Coterie, the plans do not require any medical questionnaires, but employers must be willing to contribute a minimum of $50 per employee per month with at least 5 employees participating.
The level-funded, Fundamental Care Limited-Day Health Plans are reinsured by A+ rated insurance companies. Coterie is actively looking for Benefit Advisors and select General Agents to help distribute the plans on a National basis in the employee benefits marketplace. To learn more, please talk to your insurance broker and visit http://www.fundamentalcare.com.