what you should have done is tell him to bonus the $150.00 to each employee each month and sent a memo to them this is to help off set the cost of covering health insurance and you will be getting a call from Bob and he will explain your options....
That was the first idea I threw out and he nixed it. Said he wanted to provide insurance, not a cash account. The
HRA would have been a good way to go. He even grasped the concept asking if it was like an
FSA, but then trashed it.
The type of plan he wants is something he has been trying to find for a couple of years. I told him what he already knew, but no other agent had dare say.
What he is looking for does not exist.
Based on his budget and the type of worker, an HDHP would never fly. I have seen it happen too often.
You give them cash in an
HRA or similar option or give them basic benefits and the ability to buy up to true cat cover.
You know this, but I was designing benefit plans for employers when you were first learning to skateboard.
These are slightly above min wage earners. A fourth are men covered under their wives plan. The remaining workers are mostly single moms and English is not their native tongue.
For this kind of worker, and his budget, this approach makes more sense if he doesn't want to go the
HRA route.
Re: Looking for Guaranteed Issue/Limited Benefit Plan Info
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