A few months ago, FCAI went out with a feasibility study to gauge interest in offering a health insurance program to our members. Ideally, this program would provide comparable coverage to what you’re offering to your employees now but, at a lower cost, made possible through the collective purchasing power of our membership. There were a fair number of contractors interested in this offering.
We began by partnering with The Benefit Source, a company specializing in Insurance. There are two different kind of plans we were investigating. The first is a Multiple Employer Welfare Arrangement (MEWA). This was our preferred plan because it spread the liability out over all participants, offered the same rates for all employers and had full group underwriting. However, there was a minimum number of participants which we would not have been able to obtain.
The plan we are now prepared to move forward with is a Sponsored Association Health Program (AHP).
The Pros to this plan are:
- Annual refund to employers of unused claim reserves
- Large variety of plans
- Many carriers to negotiate best rates
- Very little annual and administrative costs
AHP Cons:
- No rate benefit for large groups
- Employers may be declined if poor risk
- Some employers will have different rates
In order for your company to obtain a quote in our program, you will need to complete a very short form with information on each employee you wish to enroll. Again, submitting this information is just to obtain a quote and there is no obligation to move forward after you receive a quote.
Please visit our FCAI website at https://www.fcaofillinois.org/health-insurance-quote/
to learn more and to submit information on your employees. Or, skip the form and submit the full name, relationship to the employee, date of birth, age and gender to our partner, The Benefit Source. Send your email to them at: quotes@thebenefitsourceinc.com.
Please contact myself or Pat Curley in our office should you have any questions.
Mark Palmer Email: mark@fcaofillinois.org
Pat Curley Email: pat@fcaofillinois.org
