SET Employee Benefits’ alternative plans could help you reduce costs

 

Looking to reduce the cost of health insurance without sacrificing the quality of benefits? SET Employee Benefits offers plans designed to meet your unique needs and help you save! Here’s how:

Consider switching carriers
Through SET Employee Benefits, you can access Priority Health and HealthPlus, two regional carriers offering competitively priced plans.

• Both offer High-Deductible Health Plans (HDHP) that can be combined with Health Savings Accounts (HSA).
• Priority Health and HealthPlus plans emphasize wellness and health care management, which help reduce utilization and claim costs.
• Priority Health also provides seamless administration of health reimbursement arrangements (HRA).

Potential savings

• Flint Public Schools estimates it will save $3 million after switching its employees to a HealthPlus plan.
• Switching to a Priority Health plan could save you up to 20 percent.

Consider alternative plan options
HDHP with HSA
SET Employee Benefits offers cost-saving HDHPs through Blue Cross Blue Shield of Michigan, Priority Health and HealthPlus. When combined with HSAs, these consumer-driven health plans can save districts thousands of dollars while motivating employees to be responsible for their health care spending. An HSA is an employee-owned tax-free savings account that allows them to pay their deductible costs now and save for future medical costs. To learn more about HSAs, watch our video by clicking here. Or visit our Web site www.setseg.org. Select “Podcasts and Videos.”

Wrap plans
With Wrap plans, districts purchase an HDHP and “wrap” the benefits to a higher level of coverage by self-insuring the enhancements. The district establishes an HRA for participating employees to draw upon to pay the deductible expenses. Claims are handled by a third-party administrator. Flexible Blue 3 Wrap is a popular cost-saving plan.

Contact your SET SEG Account Executive to learn more!

1-800-292-5421