One of the biggest issues facing our elected officials in Washington is health care.
And it is pretty clear that no one has a good answer for this very complex problem.
The cost of providing health care for employees has been a big ticket item for decades.
And while medical cost trends have decreased since 2007, health spending averages still hoover between 6 and 7 percent – with a projected 6.5 percent increase for 2018.
In an effort to help employers manage their health care costs, new innovative approaches are being developed.
A defined benefit plan is when an employer provides and pays for (at least a portion) employee insurance benefits. This is probably the type of plan your church provides.
But a defined contribution plan requires the employee to use their healthcare allowance to purchase their own health insurance.
In this model, the church provides a health care allowance and employees are able to control just how much is put into their plan, and what plan works best for their family.
Remodel Health has revolutionized how organizations provide health care by managing the health insurance process while allowing employees to choose the best plan for their family.
It is different than traditional insurance because employees get the option of choosing a unique and personalized plan that fits their family’s need.
The Church Benefits
The church maintains the relationship with Remodel Health to ensure employees have coverage, bills are getting paid and contact insurance providers.
Remodel Health takes care of enrolling the employee to the insurance provider of their choice and handles all of the associated enrollment and coverage paperwork. A great relief for your HR department!
The church handles payroll deductions and insurance payments while enjoying group purchasing power savings.
The Employee Benefits
Employees enjoy savings by receiving tax credits – which reduces their overall health insurance spending.
In addition, each employee is assigned their own benefit advisor who will help them maximize their budget by customizing a plan specific for the needs of their family by choosing a plan that best fits their budget and health insurance needs.
Employees don’t have to pay for medical coverage in areas they won’t even need, for example; if the employee is a single male, they won’t need a plan that covers maternity. With the option to add or eliminate insurance coverage at any time during the contract, as employee needs change.
Another benefit is that employees can take their insurance with them even if they change employers. This eliminates the waiting period for eligibility, and eliminates the worry of being without insurance coverage.
How Much Can Your Church Save?
The potential is very promising. In one case study, Church of the Crossing realized a savings of over $106,000 a year by switching to Remodel Health.
“Choosing to work with Remodel Health has made a major impact on our ability to care for our staff well and use our resources in the best way we can as we pursue our go.love vision.” Steve, Senior Pastor
I don’t know about you but I think this possibly is a great new approach to providing health benefits while maintaining good stewardship of church resources.
Has your church explored Remodel Health? Please comment below I’d love to hear your thoughts!