Employee Benefits Products
Insight offers a complete lineup of employee benefits products. From traditional medical plans, to consumer directed products, dental, vision and beyond, we can serve you.
Medical Benefits
- PPO (Preferred Provider Organizations)
- HSA (Health Savings Account)
- HRA (Health Reimbursement Arrangement)
- FSA (Flexible Spending Account)
- Dental
- Vision
Other
- Short term disability
- COBRA benefits management
- Post 65 – Medical
- Post 65 - Dental
Plan design is the most important aspect of self-funding. We work closely with you and your agent to assemble plan options that are comprehensive for your covered members and are sustainable for you.
Consideration should be given to:
- Care Management and Disease Management programs that help members be their healthiest and provide extra care where it’s needed.
- Pharmacy benefit programs that help ensure members can get the prescription drugs they need while keeping a careful watch on your costs
- Telemedicine – This form of care delivery saves time and money by allowing providers and members to communicate interactively without the patient having to see the provider face-to-face. This form of care delivery saves money for you and your covered members, and importantly, can give greater access to care for those living in outlying/rural communities.
- Incorporating best practices for coordinating benefits for members who have additional insurers providing benefits.
- Rewarding members with lower out-of-pocket costs when they make cost efficient choices for getting care.
- Introducing, monitoring and measuring wellness programs and their resulting outcomes. Wellness programs have proven their value – the average return on investment for a combined disease management and wellness program is $1.50 per dollar spent.*
Insight’s experience in benefit design can help you be certain that you’ve chosen the right set of benefits, provided by the nation’s top carriers, at a cost you can afford over the long haul.
*Source: Rand Corporation
Employees expect health benefits, and the richer the plan, the more you’re able to attract them.
Health benefits are the starting point of your employee benefits plan. We’ll guide you through the many options and nuances of health insurance and in the end, you’ll have a health benefits plan that protects your employees and is affordable for you to maintain over time.
In contrast to traditional health benefits plans, consumer-directed health plans were developed to empower and encourage covered members to evaluate their healthcare options with an eye on the cost and an incentive to spend dollars wisely. Insight Benefit Administrators will help you design consumer-directed plans to encourage employees and their dependents, the consumers of healthcare, to make informed choices.
Comparison of Consumer-Directed Options:
| Health Savings Account (HSA) | Health Reimbursement Account (HRA) | Flexible Spending Account (FSA) | |
|---|---|---|---|
| What is it? | A tax-advantaged account used to pay for qualified medical expenses of the account holder, spouse, and/or dependents. | An employer-funded arrangement used to reimburse employees for out-of-pocket qualified medical expenses. | An employer-established, tax-advantaged account funded by the employee to pay for qualified medical expenses with pre-tax dollars. |
| Who owns the account? | The employee/account holder | The employer | The employee, but all account balance revert back to the employer at the end of the plan year. |
| Who can contribute? | Employers, employee/account holder, or any third party. | The employer | The employee |
| Can unused funds be rolled over from year to year? | Yes | Determined by the employer’s plan design. | No |
| Is there an annual contribution limit? | Determined annually by the IRS. | Determined by the employer’s plan design. | Determined by the employer’s plan design. |
| Will the account reduce out-of-pocket healthcare expenses of the account holder? | Yes | Yes | Yes |
COBRA regulations provide for certain notices to be provided to current employees, new enrolled employees and former employees who have left your employment.
The rules apply based on a certain employer group size, and the offering of benefits and their extension are generally offered for up to 18 months. However some additional extensions are required beyond 18 months based on certain circumstances. Insight is able to manage Initial Notices and Qualifying Event Notices for you to meet federal requirements and avoid costly penalties and fines.
You have the option to add vision benefits to your covered members. There are a variety of coverage options available to help your employees cover the cost of exams, glasses and contacts.
Note: Diagnosis and treatment of diseases of the eyes are covered under your medical benefits plan.