HealthMarkets Benefit OptimizerSM enables employers to evaluate economic options and assess regulatory requirements under the Affordable Care Act
North Richland Hills, Texas – August 5, 2014 – HealthMarkets Insurance Agency (“HealthMarkets”) (//www.healthmarkets.com) introduced HealthMarkets Benefit OptimizerSM, a tool that enables small businesses to analyze their health insurance costs and, in consultation with legal, tax and financial advisors, assess compliance with certain aspects of the Affordable Care Act (“ACA”). The HealthMarkets Benefit Optimizer was developed in partnership with Benefitnext (https://benefitnext.com/), a web-based provider of health care assistance tools for businesses. With this technology, HealthMarkets broadens the suite of small business service offerings provided by HealthMarkets’ licensed agents, and helps small business owners make better, more informed decisions about employee health coverage under the ACA.
“More than half of small businesses provide group insurance to employees even though they are not required to do so by law. Under the ACA, there are new options for small business owners who want their employees to have access to quality, comprehensive health coverage,” said Ken Fasola, President and Chief Executive Officer of HealthMarkets. “This technology provides small business owners and their advisors a deeper understanding of the regulatory requirements and the economic implications of their decisions for employees and their business.”
As part of the HealthMarkets Benefit Optimizer service, owners meet with a HealthMarkets licensed insurance agent to walk through their current benefit offerings and related ACA requirements. The program helps owners explore the financial implications of various scenarios under different coverage options, as well as the potential subsidy eligibility of each employee and the defined benefit contribution opportunities through the individual market. For those businesses that choose the individual market option, a HealthMarkets agent will conduct one-on-one meetings with all employees to review their personal situation, coverage options and health insurance budget so that each employee can select the plan that best meets his or her needs.
HealthMarkets is focused on meeting the insurance needs of individuals, families and small businesses with a portfolio of products that includes offerings from more than 200 national and regional insurance companies. HealthMarkets has enrolled more than 1.1 million Americans in health benefit and related plans since 2010.
For business owners interested in learning more about the HealthMarkets Benefit Optimizer service, visit www.HealthMarkets.com to find a licensed agent in your area.
About HealthMarkets Insurance AgencySM
HealthMarkets Insurance Agency is the d/b/a or assumed name of Insphere Insurance Solutions, Inc. which is a wholly-owned indirect subsidiary of HealthMarkets, Inc. Insphere is licensed as an insurance agency in all 50 states and the District of Columbia. HealthMarkets Insurance Agency offers a portfolio of health and related insurance products from nationally recognized insurance carriers to consumers online, over the phone or through approximately 3,000 agents nationwide. For more information about HealthMarkets Insurance Agency visit www.healthmarkets.com.
Benefitnext is a technology company providing a web-based solution to assist businesses in navigating health care reform. Their proprietary technology deploys the collective wisdom of a team of proven professionals in PPACA law, accounting, human resources and employee benefits. The unique “comply and calculate” suite of tools helps businesses chart a path to navigate the new law and create a financial plan to succeed in the world of benefits. For more information about Benefitnext visit www.benefitnext.com.
CAUTIONARY STATEMENT RELATED TO FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements regarding Insphere Insurance Solutions, Inc., d/b/a HealthMarkets Insurance Agency, and its affiliates. These forward-looking statements are neither historical facts nor assurances of future performance, and are subject to certain risks, uncertainties and assumptions which are difficult to predict and many of which are outside of our control. Such forward-looking statements can be identified by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “objective,” “plan,” “possible,” “potential” and similar expressions. These statements are based on management’s current beliefs, expectations and assumptions, and actual results may vary materially from those included in the forward-looking statements. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them, whether as a result of new information, future developments or otherwise. Readers are cautioned not to place undue reliance on any forward-looking statements made by us.