Hauser Insurance Newest Announcement
Hauser Insurance Group is proud to announce their newest benefit Transparent Health Benefits also called THB. The purpose of this service is to provide employers with a more evolved option for their employee’s heath benefits and a better way to provide health services to their employees. One of the big benefits to this change according to Hauser Insurance is the ability for self-funding to give the employee more overall control on their health coverage because not everyone has the same needs. While there can be risks in this process there is the potential for major savings with this process as long as the plan is properly funded. With this all being said it is important to Hauser Insurance that they are being transparent and honest about both the pros and cons of the self-funding plan.
The major difference is that instead of the company planning for all the potential medical needs of their employees and their families and having that amount of funds available when it could potentially be for way more than they will need. They are paying for those medical expenses as they happen and not having to prepay a large amount that may not even be needed. With the self-pay plans, there is less regulation. Meaning that they do not have to pay state health insurance premium taxes. Which based on our best information and estimation is about two to three percent of the cost of the premiums. Another benefit of this kind of plan is there is much more control. It allows the employer to base a plan around what their employees need and not what some insurance company who knows nothing about your people thinks they need. While there are more parts involved in this type of plan in the long run it cost less.
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