Zane Benefits Inc., a leader in Defined Contribution Health Plans and Private Health Exchanges, announced its new website, designed to educate employers, accountants, and health insurance professionals about the new federal regulations allowing simplified employer health benefits.
This was reported by prweb.com.
As group health insurance costs continue to rise, employers are looking for ways to offer health benefits at a lower price. Zane Benefits' online defined contribution health plan allows an employer to name its price.
Rather than paying the costs to provide a specific group health plan (a 'defined benefit'), employers instead fix their costs by establishing a monthly dollar amount (a 'defined contribution') that employees choose how to spend.
The new ZaneBenefits.com highlights the company's online health benefits software that enables small businesses to implement and administer a defined contribution health plan in less than five minutes per month.
This week, the U.S. Supreme Court completed final arguments in United States Court of Appeals for the Eleventh Circuit Case 11-398 on the constitutionality of the Health Reform law scheduled to take effect in 2014.
Regardless of which way the Court rules, it is clear that the new defined contribution method for small business health benefits will stand.
According to Rick Lindquist, President of Zane Benefits, 'It's time to reshape the way we think about employee health benefits. Today, more than 3 million small businesses do not offer health benefits to their employees due to cost, participation, or administrative requirements. And, that number is expected to increase by 2014 regardless of health care reform.'
According to the website, the two primary benefits of Zane's online program include:
1. No Minimum Contributions Requirements - This allows a small business to define a contribution it can afford.
2. No Minimum Participation Requirements - This allows a small business to set its own eligibility and/or participation requirements.