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Group health insurance seems easy enough. Review the many options and select one that has a reasonable co-pay and affordable premiums. Unfortunately, in the California small group health insurance market place, a reasonable co-pay and affordable health insurance premiums do not go together.

Many confusing terms like, HSA, FSA, POP, Section 125, HSA, and maximum out of pocket are a few terms that keep the consumer confused.

If you are an employer and want to offer an attractive yet affordable California small group health plan you must understand the Two Costs of Health Insurance. Fixed costs: you can control your fixed costs by selecting a more affordable health plan. Your selection is fixed for the coming 12 months. This is your cost before you fill your first prescription. Variable costs: these are expenses you incur when you see the doctor and have a co-pay or plan deductible. We don't have a crystal ball so we must calculate your variable costs in small and large claim years. When you solve for the best plan you must run the numbers. You must know the end result (fixed and variable costs) in good and not so good claim years.

Few have taken the time to really understand the Two Costs of Health Insurance. It's a sad commentary but most health insurance brokers that specialize in health insurance don't know how to solve for the best policy/ price combination.

You can't expect an engineer to know the capacity of a 10 story building until they run the calculations. It's not enough to assume it will hold up under pressure. The engineer must know what will happen on a windy day or in earthquake like conditions. It is no different with your health plan yet few really comprehend the end result of "this" policy. I make it a point to prove, by the numbers, which policy serves the consumer best.

Patrick Reaume, CFP, RHU is a California small group health insurance broker based in Redlands, California. He can be reached at 909-747-0280 or at www.reaumebenefits.com

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Health Families offers California children low cost health insurance.

Healthy Families has become a household name yet many eligible children are not enrolled. Just in Riverside and San Bernardino County alone it is estimated that over 40,000 children are eligible but not enrolled.

Income qualifications are liberal meaning that a modest income stills may qualify your kids for the state run Healthy Families health plan. Benefits include preventative care, prenatal care, doctor visits, vision and dental care, mental health, prescriptions, hospital stays and emergency visits.

It is easy to apply. The cost to enroll a child ranges from $4 -$15 a month. Don't be concerned about pre-existing conditions as they don't inquire about the child's health. Qualifying depends on your family size, income, and age of the child or children.

A few of the things you will need include a copy of your recent pay stub and or your tax return. To prove residency, a copy of your driver's license, child's student ID card or utility bill is required. Include a copy of the child's birth certificate, passport or proof of U.S. citizenship. Non-citizens need send proof of immigration status.

Patrick Reaume, CFP, RHU is a California small group health insurance broker based in Redlands, California. He can be reached at 909-747-0280 or at www.reaumebenefits.com

 

 

 

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If you, the employer, are purchasing coverage for your employees, the law says it has to be group insurance.  This is primarily because of the guarantee issue law that group insurance offers.  Individual plans cover less (maternity has a separate deductible, for example) and are approved based on the applicant's good health.

 

California group health insurance is attractive because it offers guaranteed issue.  This means that the insurance company cannot turn you down solely based on your health status.  Individual health plans do have the right to turn you down because you are over weight, have high blood pressure or any number of things.  You might be perfect health but are taking an expensive maintenance prescription.  Still, you are declined coverage.

 

If you are in business for yourself, it may be possible to qualify for group coverage.  You would be interested in pursuing this if you are having a difficult time qualifying for an individual plan.

 

Group insurance coverage requirements:                        For 2 or more employees

            * Be in business for at least 50% of the previous quarter.

            * Have a DBA or fictitious business name statement.

            * Husband & wife businesses can apply as a 2-person business as long

              as both names appear on the fictitious business name statement.

            * Proof of income (Schedule C) is often required for owners.

            * Have a business checking account.

            * Bonified employee: Your employees must be on payroll.  You will need

              to provide a copy of your quarterly wage report.

            * Non-owners need to be covered by a workers compensation policy

 

Once you have all of these areas covered, we can then select a plan for your company.

I would be happy to review this information in person or over the phone.  Your best resource is a local health insurance broker.  We can help you with HMO and High Deductible PPO and HSA (health savings account) compatible health plans. Please call Reaume Insurance Solutions at 909-747-0280 anytime.  I look forward to assisting you with your insurance needs.

 

 

Sincerely,

 

 

Patrick D. Reaume, CFP, RHU

 Patrick Reaume, CFP, RHU is a California small group health insurance broker based in Redlands, California. He can be reached at 909-747-0280 or at www.reaumebenefits.com

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Wouldn't it be nice to implement a new NO COST program sanctioned by the IRS that would increase the employees' take home pay while reducing the employer's FICA, SUDA, and worker compensation contributions? Employers save about 8% of what their employees contribute for group insurance premiums, not including the reduction in workers compensation premiums. Employee's avoid paying tax on the portion they contribute to health plan monthly premium. This typically represents a 25% savings.

 

Section 125 is a well-kept secret for a few reasons. Most insurance agents don't understand it, find it too complicated, or don't want to ask their clients for more money.

In order to activate Section 125, employers need the appropriate documentation to be in compliance with the IRS code. You can get this documentation through an administrator for up to $600, or you can get it free by inviting in a sales team such as AFLAC, with the stipulation that you allow them to sell your employees additional products such as term life and cancer insurance. You can also purchase the service through a payroll service. Just be certain you have the necessary paperwork and election forms on file.

 

Patrick Reaume, CFP, RHU is a California small group health insurance broker based in Redlands, California. He can be reached at 909-747-0280 or at www.reaumebenefits.com 

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Greetings Everyone!

My website has now been fully revamped from my old site. I am going to post the articles that I had on my old site here for everyone to view. I hope you find these articles helpful. Call me anytime to chat ! 909-747-0280 - Pat

 

 

Patrick D. Reaume, CFP, RHU
Phone 909-747-0280
pat@reaumebenefits.com

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