Traditional

Non - Traditional

Take Advantage of Mini Meds

hospitality (hotels, restaurants, fast food chains) healthcare (nursing homes, hospitals, etc.) retailers construction/landscapers automotive businesses service businesses (exterminators, repair shops, cleaners, etc.) manufacturing business temporary staffing agencies/PEOs/sales agencies schools (private day care, tech & trade, universities & colleges) small businesses (any industry) businesses with low-paid staff and high turnover businesses with non-benefited workers (excluded classes) businesses with uninsured part-time workers businesses with contract

(1099) workers  

Identify Pain Point – Turnover, plan costs, employee attrition and dissatisfaction with current plan.

Identify Potential Opportunity – Non-Covered employees, independent contractors, waiting period or probationary.

Request Quote – Creates a starting point for discussions (no census required for mini med)

Teleconference or Joint Sales Call - LBS

Probationary Employees – Increase waiting periods to six or twelve months

High Deductible Supplement - $5,000 deductible major medical with underlying mini med

Class Employees – Hourly or non-management only plan

Fully Insure Part-Time Employees Mini Plus Work Site – AFLAC, Colonial.

60 New Hires – 0-3 Months

320 Base Plus High Deductible

20 Management

SAMPLE GROUPEmployees

400 (+ 70 Part-Time)

Cost of Current Plan $400 p/m (full

time only)400 x $400$160,00070 Part-

Times

Access Discount Card – 60 x $18 = $1,080

Base (Mini Med) - 320 x $70 = $22,400High Deductible – 320 x $190 = $60,800Total Combined – 320 x $260 = $83,200

Management Benefits - $500 x 20 = $10,000

Mini Med Only - $70 x 70 (participants) $4,900

Base Plus - High Deductible

Monthly Budget Savings$60,820

Goals

Reduce Monthly PremiumEliminate Deductible for Basic Services

Add a New Hire BenefitAdd a Part-Timers Benefit

Old Monthly Premium - $160,000New Monthly Premium - $99,180

60 New Hires – 0-3 Months

100 Probationary – 3-12

220 Mini Med Plus – 36 +

20 Management

SAMPLE GROUPEmployees

400 (+ 70 Part-Time)

SAMPLEMonthly Health

Insurance Budget:

*$140,000 70 Part- Times

Access Discount Card – 60 x $18 = $1,080

Mini Med - $70 x 100 = $7,000

Mini Med/Catastrophic - $295 x 220 = $64,900

Management Benefits - $500 x 20 = $10,000

Mini Med - $70 x 70 (participants) = $4,900

Case Study – “Creative Classing”

Monthly Budget Savings$52,120

Goals

Increase ParticipationLower Turnover Reduce Budget

Add a New Hire & Part-time Benefit

* Assumes $350.00 per f/t employee contribution

William Hammett SrSenior Benefit Consultant

Bill-hammettsr@leavitt.combill@hammettmarketing.com

619 301 7460

For consultation regarding any of you groups or prospects, please start by completing these four tasks:

(1)Determine what your client is most concerned with (cost, rate increases, participation, employee dissatisfaction or turnover)(2)List all current plans, rates, contributions, participation percentages and rate increases.(3)Discuss in general the clients willingness to consider “out of the box” approaches (mini med or hybrid) (4)Get permission from your client (or get the B of R from a prospect) to develop strategies to soften the blow related to question #1 above.

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In Summary

•Mini Med plans provide a flexible strategy for employers looking for affordable options to replace or support current benefits

•Mini Med plans differ from major medical and work site (payroll deduction) plans.

•Mini Med Plans are regulated by federal and state bodies and subject to COBRA, HIPAA and ERISA. States must approve mini med filings.

•Most Mini Med carriers are AM BEST A rated or better.

•Mini Med plans are guarantee issue with no pre-existing condition limits (most plans) with the exception of maternity.

•Mini Med Hybrid plans combine first dollar (no deductible) with elements of major medical (high deductible or stop loss)