“The cost of health insurance is one of the top challenges facing small businesses and it’s likely to get worse under the Affordable Care Act. Our new partnership with The Association Benefits Solution (TABS) will help many eligible NSBA members access affordable health insurance through our new self-insured program.”
—NSBA President Todd McCracken
- You choose from 15 different health benefit plans under the Cigna and Aetna networks
- You determine which plan is best for your business—a traditional plan or a high deductible plan
- You work with a TABS representative to personalize a plan that works for you
Most important – because this is a self-insured option, you would be free of some of the most burdensome requirements under Obamacare!
The NSBA/TABS self-funded health insurance approach differs from traditional fully insured health insurance where a small employer outsources the administrative and financial risk of a health insurance program to a traditional insurance carrier. This cost-saving program will allow a small firm to contract with TABS to convert to a self-funded program whereby they purchase a stop-loss policy at 75 percent of expected claims, based on analysis from TABS’ actuarial experts. The employer will be billed monthly based on that figure at the maximum rate with any left-overs (based on positive claims experience) rolled over to the following year to reduce the monthly claim funding. While the employer is on-line for claims up to the stop-loss rate, they will not be responsible for claims over the stop-loss level.
Self-funded health insurance is exempted from many of the most burdensome regulations and requirements soon to be in effect under Obamacare. This option not only lets the employer drive what kind of insurance he or she offers, it will ensure more stable cost changes.
This program could protect you from what many experts predict will be volatile cost increases in the health industry in coming years.
For small businesses who generally have healthy employees and smaller claims, this self- funded insurance option could provide dramatic savings compared to the rates that will be charged through the Health Insurance Exchanges. While this program is more tailored to businesses in the professional services, restaurant and food services, and beverage distributors’ industries, it can provide relief to a wide array of small firms. Self-funded insurance plans also avoid additional taxes such as the HIT Tax and various state mandates.
To find out if the NSBA/TABS program can save you money, please CLICK HERE. Be sure to tell us how many employees you have, your current insurance policy anniversary date, your name, company name and phone number. We will have a representative contact you shortly.