Agency Philosophy
We believe it is good financial policy for employers to entirely pay for MEC Plus plans. Also, these plans should include supplemental Critical Illness (as a safety net potential chronic condition diagnosis) By itself, the MEC provides legal/compliance with ACA, while the supplemental wraparound insured benefits (Accident, Lab, Office, Surgical and RX) attract employees, reduce turnover, and gives them reason not exit the employers plan to seek coverage through outside sources like the State Exchanges.
We also believe that MEC plans should be complimented by level-funded Major Medical options providing more substantial coverage for salaried or management employees, or even carve-outs using a single source solution (that we can provide)
We believe MEC ONLY is a mistake, and a very poor value proposition. I also believe that Minimum Value (MVP) plans are unnecessary. These plans are costly and often leave the employer vulnerable, block employee options, and expose the employer to excessive risk, and do nothing to retain valuable employees.
To accomplish the above, I will advise employers contribute 100% of the employee premium. In most cases, an employer is far better off paying the entire cost for employees ($95 to $100 pepm) as the ROI (retention of employees and the reduction in *worker comp fraud) is almost always greater than this relatively small expense.
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As a professional group insurance broker, you probably do not work with non-traditional MEC or Indemnity plans very often. We do and that is why we are a necessary support service for your agency. We charge NOTHING for our services and nobody in America knows this space as well as we do.
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