The IAA One Minute Blog

The Affordable Care Act (ACA) has created a multitude of questions and increased carrier rates. Employers want to know how their health plan is being managed and utilized, and what changes they should make (and be aware of) in the coming years.

Self-Insured Level Funding and the ACA

Self-insurance offers employers traditional and level funding options.  Regardless of which funding option an employer chooses the results are the same, savings!  Level Funding is not a product it is simply a funding option. Insurance Administrator of America has been offering traditional and level funding options for 20 years. Our clients decide on the funding option that works best for them. Some prefer to pay as they go and some want to make the same payment each month, either way they experience 100% of the savings. 

• Monthly Administrative Fee: This is your fixed cost and paid monthly based on the employee count.  
• Traditional Claim Funding: Pay for claims as they are incurred, this allows the employer to keep his money in the bank until it is needed.
• Level Claim Funding: Pay a monthly fixed amount for claims. This option feels more like a fully insured plan, which is comfortable for some employers.

With access to the IAA web portal, brokers and employers will be armed with information and knowledge that allows you to design the right health plan for now and in the future. With IAA, you can be sure that your health plan is ACA compliant.

IAA’s Affordable Care Solution 

IAA is offering employers a solution designed to meet the ACA requirements.  Our “Affordable Care Solution” (ACS) plans can save an employer up to 60% in healthcare costs and fulfill the employer ACA obligations.

1. Platinum (IAA ACS National Network Plan): This plan option meets the ACA minimum value requirement; this plan design is for the employee looking for a buy-up option.  
2. Gold (IAA ACS National EPO Network Plan): This program option also meets the ACA minimum value requirement; this plan design has in-network benefits only and is for the employee looking for a buy-up option.   
3. Silver (IAA ACS Regulated Payment Plan): This option meets the ACA minimum value and affordability (9.5% of the employees W-2 salary for single coverage) requirements.  It provides the employer with a very affordable plan for employees on a limited budget. This program mitigates the employer’s risk and cost by limiting provider payments.
4. Bronze (IAA ACS Minimum Essential Coverage Plan):This preventative only coverage plan does not meet the ACA minimum value requirement.  It can be offered with one of the above options as it meets the minimum essential coverage requirement of the ACA.

If you are interested in learning more about IAA, call 856-470-1200 and ask to speak with one of our ACA self-insurance experts. 

Looking for more blog posts on how IAA can help yout business? Click here and here.