Array Bulletin: Service & Market Updates
for March 2010
Congresses' recent historic legislation represents a comprehensive restructuring
of our health insurance system. While you are likely still digesting the potential
impact of the laws, there is one undeniable truth -- the purchase and payment
of health insurance will be shifting away from its current wholesale approach
to a truly consumer-driven retail model. Fortunately, we've been educating
brokers about such an approach, building our technology and systems, and generally
preparing for this transition since we launched Array in 2006.
Serious about consumerism
While it was impossible to anticipate the timing of reform, we were convinced
from the very beginning that the employee should be the decision-maker in the
health benefits purchasing process. We
were so convinced, in fact, that we built an online exchange and the supporting
billing, payment, communication,
and client services to make this consumer-directed model work. The name of
our company reflects our founding vision to give employees a wide range of
health benefits choices. After four years of helping companies transition to
a consumer-directed approach, we've seen the benefits of consumerism. Employees
want options, the freedom to choose, and the flexibility to change plans. So
we are thrilled that the government has finally become serious about consumerism.
Major benefits to reform
The new health care law will:
- Expand access to coverage: The law requires most Americans to have health insurance.
Premium and cost-sharing credits will be available to qualifying individuals.
- Eliminate pre-existing condition limits: The law eliminates one of the largest
adoption hurdles for individual coverage - the medical underwriting process.
- Continue the employer's role in health benefits: Employers will be required
to offer coverage or face penalties. This will create a bevy of new compliance
and reporting requirements.
Why wait until 2014?
Effective January 1st, 2014 each state will run health insurance exchanges for
individuals and small businesses. The exchanges will provide an online storefront
to compare and select from a variety of policy choices. However, your clients
don't need to wait until 2014 to enjoy many of the new benefits of a true consumer-centric
approach.
We already have a functioning on-line storefront in WA and deep expertise in
enrolling clients with 5 -1,000 employees. Under our existing, functioning
exchange, employees can compare and select from more than two dozen individual
policy options from the regions' largest major medical carriers. For those
individuals who are denied coverage, we help them through the high-risk pool
application process.
Our services
While the exchanges will be an enormous step forward, they solve just a piece
of the benefits puzzle. In order to make a multitude of different individual
policies look and feel like a single plan to employees, employers, brokers,
and carriers, a complex network of technology, processes, and expertise are
needed. Therefore, we include in our standard service, many additional capabilities:
- Enrollment services
- Employee communication materials
- List billing and payroll reporting
- Management of carrier premium payments
- Eligibility management
- Plan accounting
- Compliance documents and administration
- COBRA administration
We are here to help
We are committed to working with you and your clients to navigate this historic
transition. Please contact me if you have any groups you'd like to discuss
or questions about the developing changes in the marketplace.
Sincerely,
Christopher Moneta
Director of Sales
1-800-640-7086
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