Updated: Feb 22
As more people work past Medicare age, companies are finding ways of offering affordable health care. Instead of enrolling these workers on the group health insurance plan, some insurance companies are offering a cost-effective alternative. This includes the ability for the company to pay for a Medicare plan for the worker.
If you are a Health Benefits Administrator, it is a good idea to talk to an agent about how to do this and whether your company is eligible to do this.
There are some positive aspects to this:
Lowers the cost of health care for the company
May allow the employee to avoid an insurance carrier network and utilize Medicare providers
Depending upon the situation, lowers out of pocket insurance costs for the employee
No question on who pays primary and secondary when obtaining services
There may be additional cost savings for the employee
Interestingly, not many companies are aware of this option. There are qualifying criteria for companies who wish to offer this alternative and our agents know how to wade through these parameters.
Contact us for more information about how you can save money on your company’s health care costs.