CINCINNATI--(BUSINESS WIRE)-- Municipalities and private industries are missing a golden opportunity to provide better benefits and cut health insurance costs up to 80%, utilizing ClaimLinx as an easy, systematic way to reduce health insurance costs. Routinely, ClaimLinx clients save hundreds of thousands of dollars providing better benefits. Look at the city of Huntington, Indiana, who took advantage of the ClaimLinx solution less than a year ago. Their mayor is even saying they should have done this years ago due to the benefits, savings and helpful staff at ClaimLinx.
ClaimLinx's “Simple Option Solution,” or SOS, takes advantage of a 55-year-old tax law, Internal Revenue Code Section 105b, which lets employers reimburse their employees for medical costs incurred by themselves, their spouses, and their dependents. This, in turn, lets employers buy less expensive, higher-deductible insurance coverage – then reimburse their employees directly for the difference between the old deductible and the new.
The net result, generally cuts costs up to 80% off of traditional benefit programs. That saves employers money and no business can avoid to pass on savings with the current state of the economy.
“Unfortunately, traditional health insurance agents, and even some carriers, are reluctant to embrace the solution,” said Tom Quigley, National Business Consultant. “Refinancing health benefits through the 105 plan is a smart move, just like refinancing your house when rates drop. Yes, it cuts out the insurance ‘middleman.’ And the middleman never likes to be cut out! But average family health insurance premiums exceed $13,375. The new administration needs to look outside the current, insurance-dominated system for real solutions.”
More information is available online at www.claimlinx.com.
Tom Quigly, 513-470-9440
KEYWORDS: United States North America Ohio
INDUSTRY KEYWORDS: Other Consumer Health Small Business Public Policy/Government Healthcare Reform State/Local Professional Services Insurance Other Professional Services Consumer General Health