Reducing Healthcare Costs for Qualified Large Employers

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The Gold Standard in Low Cost, High-Care, and Easy-to-Administer Healthcare Plans

As a business owner of a Qualified Large Employer (ALE), managing healthcare costs while providing ACA compliant benefits to your employees can be a daunting task. With rising healthcare costs and the ongoing pandemic, finding effective solutions to mitigate expenses has become even more crucial. This is where Innovative HIA comes in. We offer a low-cost, high-care, and easy-to-administer healthcare option that positions itself as the gold standard in healthcare plans.

Self-Funded Healthcare Plans: Mitigating Risks, Reducing Costs

Innovative HIA’s self-funded healthcare plans operate on a risk basis, ensuring that clients receive the best possible care at the lowest cost. By choosing a self-funded plan, qualified large employers have more control over their healthcare expenses. If claims volume exceeds the fund, the client assumes the risk. However, Innovative HIA supports its clients by reducing its administrative fee to cover the claims and then gradually recoups the accommodation in subsequent years. This approach provides financial flexibility and helps mitigate the impact of high claims on employers’ budgets.

No Increase in Administrative Rates: Commitment to Affordability

At Innovative HIA, we understand the importance of affordability when it comes to healthcare plans for qualified large employers. We stand by our promise of not increasing administrative rates, ensuring that our clients can rely on stable and predictable costs. Our goal is to offer high-quality care at an affordable price, providing peace of mind to business owners while ensuring their employees receive the benefits they deserve.

Captive Healthcare Plans: Shared Coverage, Lower Fees

In addition to our self-funded plans, Innovative HIA offers captive healthcare plans. These plans leverage a cooperative structure where each company in the #1 position covers their own claims, while the others provide backup coverage. By strategically pooling resources and mitigating losses, captive plans help keep fees low and reduce exposure risk for qualified large employers. This approach enables businesses to share the burden of healthcare costs, leading to more manageable expenses for all participants.

ASO & Standard Groups: Flexible Options for Different Needs

Innovative HIA provides ASO (Administrative Services Only) and Standard group options to cater to diverse employer requirements. With ASO, you have the flexibility of a pay-as-you-go basis, where you absorb exposure for claims, while Innovative HIA creates reserves to cover any deficits. We have recently transitioned to the Innovative HIA captive, which pays the claims and further reduces exposure risk. The ASO and Standard group options ensure that qualified large employers have tailored solutions that align with their specific financial and administrative needs.

The Innovative HIA Captive: The Gold Standard in Healthcare Plans

Our Innovative HIA captive represents the gold standard in healthcare plans for qualified large employers. Operating on a self-funded basis, it allows clients to handle their claims first, empowering them with greater control over their healthcare expenses. The captive serves as the second position, stepping in to cover deficits if the client goes into the red. With stable administrative rates and a gradual collection of any deficits over the current and subsequent years, the Innovative HIA captive ensures financial sustainability while maintaining the quality of care provided to employees.

What Makes Innovative HIA Benefits Different?

Our customer service is what sets us apart. We work when you work. Our carrier partners have given us exclusive offerings to complement our medical plans, giving you the best possible price. Our quick execution and advanced approach to benefit coverage is second to none.

How Innovative HIA Supports the Onboarding and Offboarding Processes

At Innovative HIA, we support businesses beyond providing affordable minimum essential coverage (MEC). We are proud to support the employee onboarding process so your human resources (HR) teams have more time to focus on the daily tasks that keep your business running.

This is why we offer a complete insurance solution that covers:

  • Implementation
  • Enrollment
  • Administration, and
  • Reporting

Our benefits professionals are fully equipped to support onboarding and offboarding procedures to eliminate the hassle for businesses.

How? Using our benefits portal.

Our Benefits Portal

Employee benefits administration can be a pain for any HR department. At Innovative HIA, we aim to simplify the process by giving you access to everything you need in one place.

Our one-stop-shop portal is proprietary and unlike any other. Our portal grants you access to all of the tools necessary to support a new hire (from beginning to end).

We eliminate the headache of unnecessary paperwork with benefits management portal access. You can:

  • Make plan changes
  • Order ID cards
  • Check a claim status online
  • Track onboarding and offboarding
  • And more

Resources are only a click away.

Besides creating a seamless onboarding process with our all-in-one portal, we also provide video tutorials for our partners. These resources provide instructions that assist navigation through the portal.

Read on to view our enrollment portal walkthrough.