Premium Reimbursement Arrangements are gaining popularity with small and medium-sized businesses because they offer a more affordable way to offer health benefits. By reimbursing employees for individual health insurance premiums, instead of contributing to a group health insurance plan, the business saves 20% to 60% on healthcare costs.
A Premium Reimbursement Arrangement is an agreement for an employer to reimburse employees for their individual health insurance premium expenses.
The concept is simple. With a Premium Reimbursement Arrangement, the business offers employees a monthly healthcare allowance to use on individual health insurance – instead of contributing to a group health insurance plan.
This type of health insurance alternative is taking off because individual health insurance is now better, and less expensive, than group health insurance. Premium Reimbursement Arrangements give employers, and employees, all the advantages of health benefits without the cost or complication of group health insurance.
The sections outlined on our navigation bar provide more information about Premium Reimbursement Arrangements.
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