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Benefits

Retaining key employees is essential to every business, and a company’s health benefit program is a key part of the compensation they offer to their employees. Due to the rising costs of traditional employer-sponsored health insurance, U.S. employers are steadily dropping those plans in favor of defined contribution health benefits. Rather than paying the costs to provide a specific group health plan, employers might want to consider a Self-Funded Plan.

Payroll Tax Savings

A Self-Funded Plan can solve the employer’s as well as the employees’ problem related to the cost-effectiveness of healthcare insurance as it has the following benefits over traditional healthcare insurance:

-The employer can customize the plan to meet the specific health care needs of its workforce, as opposed to purchasing a “one-size-fits-all” insurance policy.

-The employer maintains control over the health plan reserves, enabling maximization of interest income – income that would be otherwise generated by an insurance carrier through the investment of premium dollars.

-The employer does not have to pre-pay for coverage, thereby providing for improved cash flow.

-The employer is not subject to conflicting state health insurance regulations/benefit mandates, as self-insured health plans are regulated under federal law (ERISA).

-The employer is not subject to state health insurance premium taxes, which are generally 2-3 percent of the premium’s dollar.-

-The employer is free to contract with the providers or provider network best suited to meet the health care needs of its employees.

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This plan is Employer-Sponsored and Employee-Funded. It is a zero net cost to the company and is a $573/year savings per employee. The plan reduces the employee’s taxable income by $14,400 per year, yet their net pay increases by around $1500 per year, because of the reduction in payroll taxes. Do to section 125 plan compliance.

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Employer Benefits

The CHAMP Plan™ is a self-funded, personalized, clinical preventive healthcare program that has been designed to complement an organization’s primary healthcare insurance in such a way that it makes the organization’s healthcare coverage highly cost-effective and beneficial in terms of employee retention and satisfaction rates.

The employers who have employees enrolled in the CHAMP Plan™ will have a dashboard view of their company’s overall health profile. This will give the employer a visual of the health condition of its employees based on their average Life Score and will empower employers to have better group discussions about the health of their employees.

Individual employee data will not be exposed to the employer for privacy concerns. However, the average life score of the company’s human capital will be visible to the employer, and they will be able to improve it. They can also know when their employees have an optimum average life score and are ready for a new challenge.

Through all those functionalities, the application helps employers keep track of their employees’ current and projected healthcare concerns and improve their situations to create a healthier and happier team.

Employee Benefits

One of the most influential and impressive benefit packages that an organization can offer to its employees is healthcare coverage. That’s why we have created The CHAMP PlanTM! Our clinically-based program monitors and aims to identify high-risk areas to assist employees in achieving a better quality of life.

In addition to the Personal Health Manager Program, employees may also receive the following CHAMP Plan™ benefits:

Primary Care Office Visits

$0 Deductible

$0 Copay

Urgent Care Office Visits

$0 Deductible

$0 Copay

Unlimited Prescriptions Included on Drug Formulary

$0 Copay

100% Preventative Care Services

$0 Deductible

$0 Copay