Getting Started with YourMedPlan: Simple Steps
Navigating health insurance can be overwhelming, but we make it easy. Here’s how our consultative process ensures success for you and your team:
- Information Gathering: YourMedPlan will compile key details such as employee census data, payroll provider information, and other relevant documentation.
- Cost Comparison: YourMedPlan will analyze the cost difference between traditional group health insurance options and YourMedPlan's solution to compare overall savings.
- Contribution Options: YourMedPlan will guide you through contribution strategies for each employee’s major medical and gap insurance needs, keeping in mind the ability to offer differentiated amounts based on tenure, position, or other compliant classifications.
- Integration with Administration and Payroll Systems: To ensure a smooth transition, you’ll receive onboarding on our partner vendor’s administration platform and guidance on payroll system integration for effortless management.
- Employee Enrollment: We meet with each employee to help them select a health insurance plan tailored to their needs and financial situation, followed by ongoing support throughout the policy year.
Employer Solutions FAQ
How does YourMedPlan assist employees in finding the right health plan?
Our expert advisors take a personalized approach by analyzing each employee’s unique demographic factors, such as family size, age, location, and budget, to determine federal subsidy eligibility and recommend suitable health insurance options.
What are federal subsidies?
A federal subsidy is financial assistance provided by the government to help eligible individuals and families afford health insurance through the Affordable Care Act (ACA) marketplace. These subsidies are designed to lower monthly premiums and, in some cases, reduce out-of-pocket costs for qualifying plans.
How do employees qualify for federal subsidies?
Eligibility for federal subsidies is based on an employee's household income, size, and other coverage options (e.g., employer-sponsored plans or Medicaid). During enrollment, YourMedPlan reviews these details to ensure employees receive the maximum subsidy available for affordable health coverage.
What types of health insurance plans are available?
Options include major medical, vision, dental, and supplemental plans through the ACA Marketplace, all tailored to employees’ needs. Employees are also required to enroll in specialized insurance products.
What are specialized insurance products?
Specialized insurance products bridge the gap between traditional group and individual health insurance, reducing the strain of high deductibles and out-of-pocket costs on your employees. To maintain accessible and well-rounded health benefits, YourMedPlan’s solution incorporates gap coverage into your monthly contributions for employees.
Does YourMedPlan support employees after enrollment?
YourMedPlan’s dedicated team of health insurance experts is available throughout the policy period for support regarding claims, renewals, billing questions, access to care, prescription costs, and other health insurance matters.
How do employers manage the employee contribution structure?
YourMedPlan collaborates with an external vendor to offer a streamlined benefits portal. This platform ensures compliance, simplifies employee contribution management, and holds employees accountable for their monthly contributions, thus relieving the employer of this administrative burden.
What costs are associated with YourMedPlan?
YourMedPlan charges a monthly advisory fee on a per-employee basis. These fees allow us to provide specialized guidance and helpful resources for all parties throughout the policy year. In almost all cases, the total cost of these fees and employee stipends is substantially lower than the expense of traditional group health insurance. For a detailed monthly cost breakdown, contact us for a free consultation.