A new self-funded medical plan for small employers

A new self-funded medical plan for small employers

The health insurance industry has undergone many regulatory changes in the past several years, some of which have forced companies to have to change their health plans and pay substantially higher premiums. To help companies struggling with such changes, NOACC has partnered with the Southern Ohio Chamber Alliance (SOCA) to create a new health insurance program called the SOCA Benefit Plan (SOCA BP). The SOCA BP is a self-funded multiple employer welfare arrangement (MEWA) designed specifically for Chamber of Commerce members. The SOCA BP presents an innovative alternative to the Affordable Care Act (ACA).

This new self-funded medical offering called the SOCA Bene t Plan (SOCA BP) is a multiple employer welfare arrangement (MEWA). MEWAs enable smaller employers to join together to share in the overall claims risk. By being part of a larger, self-funded pool, employers have nancial protection backed by Anthem’s stop loss coverage.

In addition to nancial protection, this innovative alternative offers:

  • Competitive rates
  • Fixed, predictable monthly payments
  • A variety of plan designs, including four PPO and three HSA options
  • Anthem’s broad Blue Access PPO Network and National Rx Formulary
  • Coverage for claims run-out /terminal liability coverage

To top it off, we’ve added expanded wellness offerings so your employees can bene t from your investment in them even further. And we also offer Specialty products that are only available to employers participating in the SOCA BP, including dental, vision, life, optional life and disability plans at specially discounted rates.

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About Matt Barker

Matt Barker is New Image Media, Inc.'s senior editor. Learn more about New Image Media at http://newimagemedia.com