Marketplace

Medical

The Affordable Care Act has standardized medical plans for small employers, meaning the covered services for all plans and insurance carriers is identical, with out-of-pocket costs being the only factor impacting the premium. The standardization of benefits makes analyzing alternatives easier for employers, and allows them to work with their broker and focus on the quality of the physician network, medical outcomes, premiums and prescription formularies. Employers with over 50 covered employees (in most states) have the ability to customize their plans, and insurance carriers can take into account the groups’ claims experience when setting premiums.