Be the hero for your company's benefit offering!

Offering MVP (Minimum Value Plan) with MEC (Minimum Essential Coverage) and HealthShare can provide a real strategic advantage for a company's benefit offering. This combination allows the company to strike a balance between providing comprehensive coverage, meeting regulatory requirements, and managing healthcare costs. Here's how it can be a win for the company and it's employees:

Diverse Coverage Options: By offering a combination of MVP, MEC, and HealthShare, the company provides a range of coverage options to cater to the diverse needs and preferences of its employees. Some employees may prefer the comprehensive benefits of MVP, while others may opt for the affordability and basic coverage of MEC paired with cost-sharing model of a HealthShare. This diversity ensures that employees can choose the plan that best suits their individual healthcare requirements.

Regulatory Compliance: Including MEC plans in the benefits package ensures that the company meets the minimum essential coverage requirements mandated by the Affordable Care Act (ACA). This compliance is crucial to avoid potential penalties and maintain a positive reputation as a responsible employer. Employers with over 50 eligible employees are also required to offer plans that meet the MVP requirements.

Cost Management: Health insurance plans, such that meet the MVP requirements, can be more expensive for both the company and its employees. MEC plans are generally more cost-effective, and HealthShare programs often involve lower contributions and cost-sharing among members. By offering this mix, the company can manage its healthcare costs more effectively while still providing employees with valuable healthcare options.

Employee Flexibility and Choice: Different employees have different healthcare needs and budget considerations. Offering MVP, MEC, and HealthShare allows employees to select the plan that aligns with their individual circumstances. This flexibility enhances employee satisfaction and engagement with their benefits, as they can make choices based on their unique situations.

Mitigating Risk: Providing diverse healthcare options helps the company diversify its risk exposure. HealthShare programs operate on a cost-sharing basis among members, spreading financial risks across the community. This diversification can be advantageous for the company, especially in uncertain healthcare market conditions.

Attracting and Retaining Talent: A well-rounded benefits package that includes MVP, MEC, and HealthShare can be an attractive feature for potential employees. Comprehensive coverage, cost-effective options, and flexibility in choosing plans demonstrate the company's commitment to supporting employees' well-being, which can enhance its ability to attract and retain top talent.

Employee Well-Being and Productivity: Access to quality healthcare coverage through MVP, MEC, or HealthShare can contribute to employees' overall well-being. Employees who have access to healthcare services are more likely to proactively manage their health, leading to reduced absenteeism and improved productivity.

In summary, offering MVP with MEC and HealthShare in a company's benefits package allows for a comprehensive and cost-effective approach to healthcare coverage. It meets regulatory requirements, provides flexibility and choice for employees, and helps the company manage healthcare costs while supporting the well-being of its workforce. This combination can contribute to a more engaged and satisfied workforce, ultimately benefiting the company's overall performance and reputation.

Planstin Administration can help employers be that hero. Lower costs, better benefits and freedom of choice for the employees. Visit our website or contact us to learn more.