Array Bulletin: Service & Market Updates for September 2008
We hope your Fall is off to an excellent start. At Array we are gearing up for the busy season and look forward to working on a few groups with you in the fourth quarter. I want to quickly update you on our recent developments.
Array Software Used by the WTIA
The Washington Technology Industry Association (WTIA), formerly the WSA, is now offering Array's online individual health insurance application platform to its members. With Array's software, WTIA members can:
- Research the provider network
- Compare policies
- View insurance carrier documents
- Complete the online Standard Health Questionnaire
- Apply online in an entirely paperless transaction
As an additional service, Array configured the platform with the WTIA's branding in order to provide continuity with the rest of its site.
Array Implements Spanish-Speaking Group
Array recently implemented a large landscaping company that has many Spanish-speaking employees. There were a few steps we took that made the implementation very successful:
- A licensed Spanish-speaking health insurance agent provided translation services.
- We held two employee meetings in which the new benefits program was explained both in English and Spanish. After the meetings employees were encouraged to speak with an Array representative and the translator about any questions they had.
- Employees interested in applying for insurance signed up for times to go through the online application process with the translator. The translator and an Array representative were later onsite helping employees apply online.
Most of the Spanish-speaking employees were previously uninsured. We found there was interest in purchasing health insurance among the Spanish-speaking employees, but there were concerns about payroll deductions. Almost all employees, however, were able to buy a policy for less than their employer's monthly HRA contribution. This allowed them to have insurance without a decrease in income.
The "Underinsured"
In June Health Affairs published a study entitled "How Many Are Underinsured? Trends Among U.S. Adults, 2003 and 2007." The study revealed there are 25 million underinsured adults in the U.S., which is a 60% increase since 2003. The New York Times, among other major papers, reported on the study, and since June the underinsured population has been a part of our national political discourse.
What does it mean to be underinsured? The definition created by the Commonwealth Fund states that someone meeting one of the following three criteria is considered underinsured:
- Medical expenses amount to 10 percent of income or more;
- Among low-income adults (below 200 percent of the federal poverty level), medical expenses amount to at least 5 percent of income; and
- Health plan deductibles equal or exceed 5 percent of income.
By this definition someone who earns $20,000 and personally incurs $1,000 in medical expenses is considered underinsured. The underinsured is a major problem, but perhaps a more realistic definition is needed to accurately measure it.
New Array Website Coming Soon
We are creating a new marketing website to help you sell our service.
The new site includes the following:
- "How It Works": Explains the product and service to companies
- "Product Tour": Allows viewers to see the Array platform from the employer, employee, and broker perspectives
- "Resource Center": Provides research studies, links, and information on insurance, benefit plans, and benefit organizations, as well as relevant IRS documents
The new site will be up in the next few weeks and we will be sure to notify you once it is live.
If you have questions or requests, please don't hesitate to give us a call.
Sincerely,
Christopher Moneta
Director of Sales
1-800-640-7086
|
