Finish the Year Out Strong with the Premium Saver
Everyone in the health insurance industry recognizes the increase in expectations and demands during the 4th quarter. We see these changes as an opportunity to provide insurance solutions. Whether your strategy is to lower costs or improve benefits, the Premium Saver Plan can help you reach that goal line!
Follow these 4th Quarter Power Plays:
- 1st Down: Request the Alternatve High Deductible Quote
- 2nd Down: Submit to your Territory Manager
- 3rd Down: Submit Group Application
- 4th Down: Game Winning Touchdown for your Group
It’s 4th quarter and time for many of your groups to decide on a medical plan for their employees. Brokers, be sure to include the Premium Saver Plan with each of your quotes. The MWG Premium Saver Plan is a group sponsored supplemental insurance plan that works to reduce the group’s premium costs. Over 80% of groups with the Premium Saver Plan save money without reducing their benefits (this plan works best when combined the group’s high deductible health plan). The Premium Saver continues to be MWG’s number one product. It has been successful in helping many groups lower costs and maintain benefits.
Key Benefits of the Premium Saver Plan
- Age Discount – Discount available for groups with a certain percentage of employees under the age of 40. A census is required.
- 51% (40 or younger) = 20% discount
- 40%-50% (40 or younger) = 15% discount
- 30%-39% (40 or younger) = 10% discount
- No excluded groups with a minimum group size of 5.
- Dual/Triple Options: no minimum on each different plan design
- One Bucket Plan: no surprises on inpatient vs outpatient benefit differences
- Stability: Premium Saver has been sold since 2001
- “A Rated” Carrier with AM Best
- Composite Rates down to 5 lives
- Prior Deductible Credit: This gives the insured person credit for any major medical deductible they have met prior to the beginning of the Premium Saver Plan during the first contract year. The group’s benefits must be based on a calendar year and proof must be submitted within 30 days of the Premium Saver Plan Effective Date.
- Only exclusions include outpatient prescription drugs and professional physician fee (Riders are available for each of these)
- Electronic Claims Submission: no paper claims or claim forms are required up front
- EDI Feeds are accepted from groups
- Group and Member Portals which allow online EOBs and ID Card generation