EMPLOYER
BENEFITS
Retaining key employees is essential to every business, and a company’s health benefit program is a key part of the compensation they offer to their employees. Due to the rising costs of traditional employer-sponsored health insurance, U.S. employers are steadily dropping those plans in favor of defined contribution health benefits. Rather than paying the costs to provide a specific group health plan, employers might want to consider a self-funded plan.
EMPLOYER
BENEFITS
Retaining key employees is essential to every business, and a company’s health benefit program is a key part of the compensation they offer to their employees. Due to the rising costs of traditional employer-sponsored health insurance, U.S. employers are steadily dropping those plans in favor of defined contribution health benefits. Rather than paying the costs to provide a specific group health plan, employers might want to consider a self-funded plan.
Benefits For YOU, The Employer
$573.60 in Tax Savings Annually for Each Enrolled Employee
Increase Benefits of the Existing Health Package - A Simple, Co-Existing Add-On
Reduce Usage of the Primary Care Resulting in Future Savings - Use Champ First
Happier & Healthier Employees and their Families
Recruit & Retain Highly Valued Employees
Champ Enrollment Team Enrolls EVERYONE - Completely Autonomous, No Burden to HR
Best Customer Service in the Business - Champion Health, Inc.
Benefits For YOU, The Employer
$573.60 in Tax Savings Annually for Each Enrolled Employee
Increase Benefits of the Existing Health Package - A Simple, Co-Existing Add-On
Reduce Usage of the Primary Care Resulting in Future Savings - Use Champ First
Happier & Healthier Employees and their Families
Recruit & Retain Highly Valued Employees
Champ Enrollment Team Enrolls EVERYONE - Completely Autonomous, No Burden to HR
Best Customer Service in the Business - Champion Health, Inc.
About The CHAMP Plan
The CHAMP Plan™ is a self-funded, personalized, clinical preventive healthcare program that has been designed to complement an organization’s primary healthcare insurance in such a way that it makes the organization’s healthcare coverage highly cost-effective and beneficial in terms of employee retention and satisfaction rates.
The employers who have employees enrolled in the CHAMP Plan™ will have a dashboard view of their company’s overall health profile. This will give the employer a visual of the health condition of its employees based on their average Life Score and will empower employers to have better group discussions about the health of their employees. Individual employee data will not be exposed to the employer for privacy concerns. However, the average life score of the company’s human capital will be visible to the employer, and they will be able to improve it. They can also know when their employees have an optimum average life score and are ready for a new challenge.
Through all those functionalities, the application helps employers keep track of their employees’ current and projected healthcare concerns and improve their situations to create a healthier and happier team.
Request A Free Proposal
Requesting a free proposal will give you the complete details of how much your company and your employees can start saving through the CHAMP Plan™. Reach out to us today for more information!
About The CHAMP Plan
The CHAMP Plan™ is a self-funded, personalized, clinical preventive healthcare program that has been designed to complement an organization’s primary healthcare insurance in such a way that it makes the organization’s healthcare coverage highly cost-effective and beneficial in terms of employee retention and satisfaction rates.
The employers who have employees enrolled in the CHAMP Plan™ will have a dashboard view of their company’s overall health profile. This will give the employer a visual of the health condition of its employees based on their average Life Score and will empower employers to have better group discussions about the health of their employees. Individual employee data will not be exposed to the employer for privacy concerns. However, the average life score of the company’s human capital will be visible to the employer, and they will be able to improve it. They can also know when their employees have an optimum average life score and are ready for a new challenge.
Through all those functionalities, the application helps employers keep track of their employees’ current and projected healthcare concerns and improve their situations to create a healthier and happier team.
Request A Free Proposal
Requesting a free proposal will give you the complete details of how much your company and your employees can start saving through the CHAMP Plan™. Reach out to us today for more information!
Employer Frequently Asked Questions
Do I have to change insurance?
No. The CHAMP Plan™ is a self-funded overlay program that supplements existing traditional medical insurance plans.
Do employees need to change providers or medical care?
No. Employees who voluntarily enroll in The CHAMP Plan™ can continue to use the same providers and receive the same medical care they’re already receiving through their traditional medical insurance. The CHAMP Plan™ can provide additional options for better quality care and cost savings as identified by the physician of record, but employees are not required to take those options.
Why did my employee’s paycheck go up?
Each pay period, a pre-tax deduction comes out of each employee’s paycheck to help fund the employer-sponsored CHAMP Plan™. The typical taxes are then taken from the now reduced pre-tax pay, and employees receive a post-tax benefit after participating in a monthly healthcare activity that triggers a CPT code and explanation of benefits. (Triggers are as simple as watching a video or reading an article).
In short, a lower adjusted gross income results in lower taxes, which raises an employee’s take-home pay after The CHAMP Plan™ post-tax benefit is added to their paycheck!
How do I implement this plan to my employees?
It’s simple! Once you send us a copy of the census, we can begin to identify your potential savings per employee.
What benefits are included?
• Unlimited access to Concierge’s advocate approach to health care.
• It’s having a doctor available 24/7 at your beck and call.
• Resolve workplace misconduct easier and smarter with Champion Work Shield.
• Champion Work Shield is an unbiased third party that works to efficiently manage reporting, investigation and resolution of workplace harassment, discrimination and misconduct issues in their entirety.
Can we begin participating in the program at any time?
Yes, and every month you wait, you’re losing out on potential FICA savings per employee!
What prescriptions are covered?
A robust list of nearly 200 generic and brand name prescriptions is covered by The CHAMP Plan™, including many of the nation’s top-prescribed drugs such as simvastatin and atorvastatin for high cholesterol, amlodipine and lisinopril for high blood pressure, levothyroxine for hypothyroidism, and bupropion for tobacco cessation, as well as antibiotics like azithromycin and amoxicillin, pain management medications like gabapentin and meloxicam, and mental health medications like lorazepam and clonazepam (see formulary list for full details).
Prescriptions not on the list may also be covered at a significant discount.
Is The CHAMP Plan™ compliant?
Yes. The CHAMP Plan™ is a qualified Section 125 plan set up as a self-funded employer-sponsored plan that is 100% funded by employees through a pre-tax payroll deduction. The amount deducted represents the maximum claims for the policy year. The third-party administrator (TPA) holds the monies in a custodial account and pays claims as they incur in accordance to the plan document and the schedule of benefits. The definition of a claim is defined as claims made to providers, facilities, pharmacies, or employees.
Claims to employees result when an applicable CPT code is triggered with a corresponding explanation of benefits (EOB). Examples of these claims include preventive examinations, bio-metric screens, health risk assessments, and chronic medication fulfillment. Claims made to employees are neither taxable nor considered ordinary income. The amount of premium charged to employees is actuarially set to cover the claim risk on the plan while meeting a desired medical loss ratio (MLR). At the end of the plan year and the runout period, any potential surplus left in the claim account is considered a plan asset to the employer.
Does The CHAMP Plan™ meet the definition of Minimal Essential Coverage (MEC)?
Yes, The CHAMP Plan™ meets the definition of MEC.
Employer Frequently Asked Questions
Do I have to change insurance?
No. The CHAMP Plan™ is a self-funded overlay program that supplements existing traditional medical insurance plans.
Do employees need to change providers or medical care?
No. Employees who voluntarily enroll in The CHAMP Plan™ can continue to use the same providers and receive the same medical care they’re already receiving through their traditional medical insurance. The CHAMP Plan™ can provide additional options for better quality care and cost savings as identified by the physician of record, but employees are not required to take those options.
Why did my employee’s paycheck go up?
Each pay period, a pre-tax deduction comes out of each employee’s paycheck to help fund the employer-sponsored CHAMP Plan™. The typical taxes are then taken from the now reduced pre-tax pay, and employees receive a post-tax benefit after participating in a monthly healthcare activity that triggers a CPT code and explanation of benefits. (Triggers are as simple as watching a video or reading an article).
In short, a lower adjusted gross income results in lower taxes, which raises an employee’s take-home pay after The CHAMP Plan™ post-tax benefit is added to their paycheck!
How do I implement this plan to my employees?
It’s simple! Once you send us a copy of the census, we can begin to identify your potential savings per employee.
What benefits are included?
• Unlimited access to Concierge’s advocate approach to health care.
• It’s having a doctor available 24/7 at your beck and call.
• Resolve workplace misconduct easier and smarter with Champion Work Shield.
• Champion Work Shield is an unbiased third party that works to efficiently manage reporting, investigation and resolution of workplace harassment, discrimination and misconduct issues in their entirety.
Can we begin participating in the program at any time?
Yes, and every month you wait, you’re losing out on potential FICA savings per employee!
What prescriptions are covered?
A robust list of nearly 200 generic and brand name prescriptions is covered by The CHAMP Plan™, including many of the nation’s top-prescribed drugs such as simvastatin and atorvastatin for high cholesterol, amlodipine and lisinopril for high blood pressure, levothyroxine for hypothyroidism, and bupropion for tobacco cessation, as well as antibiotics like azithromycin and amoxicillin, pain management medications like gabapentin and meloxicam, and mental health medications like lorazepam and clonazepam (see formulary list for full details).
Prescriptions not on the list may also be covered at a significant discount.
Is The CHAMP Plan™ compliant?
Yes. The CHAMP Plan™ is a qualified Section 125 plan set up as a self-funded employer-sponsored plan that is 100% funded by employees through a pre-tax payroll deduction. The amount deducted represents the maximum claims for the policy year. The third-party administrator (TPA) holds the monies in a custodial account and pays claims as they incur in accordance to the plan document and the schedule of benefits. The definition of a claim is defined as claims made to providers, facilities, pharmacies, or employees.
Claims to employees result when an applicable CPT code is triggered with a corresponding explanation of benefits (EOB). Examples of these claims include preventive examinations, bio-metric screens, health risk assessments, and chronic medication fulfillment. Claims made to employees are neither taxable nor considered ordinary income. The amount of premium charged to employees is actuarially set to cover the claim risk on the plan while meeting a desired medical loss ratio (MLR). At the end of the plan year and the runout period, any potential surplus left in the claim account is considered a plan asset to the employer.
Does The CHAMP Plan™ meet the definition of Minimal Essential Coverage (MEC)?
Yes, The CHAMP Plan™ meets the definition of MEC.
Employee Benefits
We Will Make Your Health A Top Priority
One of the most influential and impressive benefit packages that an organization can offer to its employees is healthcare coverage. That’s why we have partnered with The CHAMP Plan! Their clinically-based program monitors and aims to identify high-risk areas to assist employees in achieving a better quality of life.
© Safe & Secure Insurance LLC 2024. All Rights Reserved.
© Safe & Secure Insurance LLC 2023. All Rights Reserved.