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Small Business Digest



Small Businesses Considering Changing, Eliminating Healthcare Benefits Have New Tool

Many small businesses are thinking of dropping or modifying their current healthcare benefit plans in favor of providing stipends to employees to help them pay for individual plans.

A new offering from Flexible Benefit Service Corporation (Flex) is among the first of what is expected to be many solutions being offered in advance of 2014 implementation of Obamacare in which all Americans will need to have a health insurance plan.

Other provisions of the Act will require employers to provide healthcare insurance or funding for individual workers. The alternative is paying a per employee fine.

Surveys have shown many companies who are currently offering healthcare insurance are either planning to drop such coverage or go to a stipend plan.

One of the problems in such a case is managing the process and providing ongoing payments.

Through its InsureXSolutions™ private health insurance exchange Flexible Benefit Service Corporation (Flex) is offering a fully automated process that is backstopped with on call advisors.

The private exchange promotes a defined contribution funding model that gives uninsured employers a way to set their own budget and assist employees with health care expenses.

“Many employees can use the stipend to pay for coverage not offered by a spouse’s plan,” said Nick Severino.

The InsureXSolutions web platform provides an online insurance marketplace where employees can shop, compare and apply for insurance plans that fit their personal needs.

Available in select markets, InsureXSolutions is a solution for employers currently not offering employee benefits or those thinking of dropping their current offerings.

Under this program, employers allocate a fixed amount of funds for each employee. Employees can then login to the InsureXSolutions web portal for access to online quoting and comparison resources for individual and family insurance plans from various national and regional insurance companies. Once employees find the plan they prefer, they use the InsureXSolutions online marketplace to directly apply for heath insurance, Medicare, short-term insurance and/or vision insurance.

“InsureXSolutions is the culmination of more than 24 years of experience in the health insurance industry which reinforces our mission for providing innovative, cost-effective health care programs,” said John DiVito, President of Flex. “Our private exchange is truly unique because it seamlessly integrates our internal, proprietary resources to deliver an end-to-end insurance solution to the marketplace.”

Businesses and their employees are supported by an InsureXSolutions Interaction Center that is staffed with a team of licensed product specialists. The Interaction Center is available Monday through Friday, 8 a.m. to 8 p.m. Central, to help callers through the decision making process, answer questions and provide guidance on insurance plan options.

To learn more about InsureXSolutions, visit or call 888-353-9178.

© 2018, Information Strategies, Inc.
P.O. Box 315, Ridgefield, NJ 07657