Employers can get the best health insurance rates for their employees by joining other businesses in Association Health Plans (AHPs). You may already be part of a business group or industry association that can save you significant amounts (20%+) on medical insurance premiums. Contact A and H Insurance today to get signed up for an AHP!
Here are some insurance providers (in bold) with the associations they can cover:
- Blue Cross Blue Shield – Vegas Chamber, Tahoe Chamber, an Elko Chamber of Commerce
- Hometown Health – The Builders Association of Northern Nevada (BANN) and Carson City Chamber
- United Health Care – Engineering Association and Restaurant Association
- Sierra Health and Life / Health Plan of Nevada – ABC Builders Trust
- Prominence – Available with many associations
Benefits of Joining a AHP
AHPs offer a range of benefits for small businesses and self-employed individuals looking to access affordable, comprehensive health insurance. Here’s why they’re worth considering:
1. Cost Savings Through Group Buying Power
AHPs allow small businesses and self-employed individuals to band together as a larger group, leveraging collective buying power to negotiate lower premiums and better coverage terms. Insurers benefit from underwriting economies of scale, which can translate into significant cost reductions for members.
2. Access to Comprehensive Coverage
AHPs often provide broader coverage options than what small businesses or individuals could obtain on their own. This includes access to plans that mirror those typically available to larger employers, such as PPOs or HMOs. Members may also gain access to wellness programs, preventive care, and other value-added benefits that enhance employee health and satisfaction.
3. Flexibility in Plan Design
AHPs can offer a variety of plan options tailored to the needs of their members, including high-deductible health plans (HDHPs) paired with Health Savings Accounts (HSAs), traditional PPOs, or even exclusive provider organizations (EPOs). This flexibility allows businesses to choose plans that align with their budget and employee preferences.
4. Simplified Administration
By joining an AHP, small businesses can offload much of the administrative burden associated with managing health benefits. The association typically handles plan selection, compliance, and enrollment processes, freeing up time for business owners to focus on growth.
5. Improved Risk Pooling
AHPs pool risks across a larger group, which can stabilize premiums and reduce the impact of high-cost claims. This is particularly beneficial for small businesses that might otherwise face volatile rates due to a smaller risk pool.
6. Competitive Advantage
Offering quality health benefits through an AHP can help small businesses attract and retain top talent, leveling the playing field with larger employers.
7. Adaptability to Market Conditions
AHPs are well-positioned to adapt to changing healthcare markets. For instance, they can evolve into risk retention groups or other alternative financing arrangements if market conditions harden, ensuring continuity and stability for members.