September 8, 2020
BEND, OR – For the first time, staffing firms and employers in similar industries have an ACA compliant major medical (aka “MVP”) plan that is offered on a weekly basis. While indemnity and some MEC level plans have been available for weekly coverage, this new plan, EmployerAdvantage, marks the first time an employer can acquire a true weekly benefits package that covers all benefits.
Although, some plan providers offer weekly benefits administration, EmployerAdvantage is the only program that offers true weekly benefits plans. Coverage through EmployerAdvantage is based on the employee’s payroll. For example, when an employee works and has enough hours to cover deductions, the employee’s coverage is provided for that week. If an employee misses a week and does not have enough hours for his or her deductions, the coverage is suspended and resumes when the employee returns to work, presumably the following week or week thereafter. The EmployerAdvantage program does not require premiums to be made up, and the employer is not at risk for claims incurred during weeks when coverage is not in effect.
In addition, the EmployerAdvantage program features fully automated and outsourced administration of the employer’s ACA/employee benefits plans. Please note that the program is intended for hourly workers only, not core or internal staff, and a minimum of 500 eligible employees is required.
While EmployerAdvantage is designed to meet the needs of the staffing industry, it can be implemented by other industries that have similar benefits administration challenges.
The EmployerAdvantage program:
- Guarantees full ACA compliance by proving offers of coverage to 100% of eligible employees.
- Manages costs by operating at minimal employer expense and making any underwriting profits that would normally go to an insurer’s surplus account readily available to the employer.
- Reduces administrative workloads by directly managing ACA coverage and employee benefits plans.
- Boosts talent acquisition and employee retention by tailoring benefits plans to the needs of each employee. By offering plans that meet the individual requirements of employees, employers can improve hiring, increase employee satisfaction and reduce attrition.
EmployerAdvantage is being marketed exclusively to the staffing industry by SISCO, Assurance and BenefitElect. For more information on EmployerAdvantage, visit www.employer-advantage.com.