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These plans provide flexibility, control, and potentially a more permanent solution to implementing a health insurance plan for employers. The 3 main advantages to a level funded group policies are as follows. First, Employers can create any policy type they want, and can have dual options for their employees. This enables them to offer a very rich plan featuring co-pays for office visits, diagnostics, ER, Prescriptions and mental health services, as well as an HSA compatible plan option that allows employees to fund deductible responsibilities with pre-tax contributions throughout the plan year. Second, up to 100% of the unused portion of plan premiums dedicated to claims experience will be returned to the employer at the end of the plan year. Third, level funded plans utilize Reference Based Pricing which all but eliminates the network constraints as members can access any provider. RBP pays providers up to 150% of the Medicare reimbursement rate to avoid any balance billing issues. Level funding is not a solution for all employers, as final rates are based upon the overall health and/or claims experience is factored in to rate composition, but we at Kevin Murray & Associates are willing to go through the process in order to assist our clients. Ideally Level Funding eliminates the merry go round of moving from traditional carriers every other year.

If the above strategy is not a good fit, then we will look at to the market by comparing the carriers offering coverage to find the right coverage and pricing for each client. All carriers are willing to assume risk at different premium levels, and it is our charge to find the most economical solution for all business owners.

The LTC Market has gone through major challenges since the financial situation of 2009. While traditional LTC policies could be a viable solution to some, it is hard to avoid rate increased throughout the life of the contract prior to claims experience. The life insurance marketplace has reacted to these challenges in unique ways. Purchasing a permanent life insurance policy that features a Long Term Care rider can be an effective strategy to leverage current assets to help pay for LTC life events. Further, single premium insurance products such as Lincoln Moneyguard, or Nationwide Care Matters provide a one-time initial payment and can leverage approx. 3 times the premium into a pool of LTC monies. Either of these strategies eliminate any future rate increase to a traditional LTC contract. Kevin Murray & Associates, Inc, will always discuss all 3 options above to find the correct solution for each client.

Life happens, and circumstances change. You may need to change your individual health insurance plan for a variety of reasons; job change, marriage, birth of a child, or moving to a new home. If you're not certain whether you have a qualifying life event, we can help you. We'll go over your options, explain the different types of coverage available to you, and find you the right plan with the appropriate amount of coverage for your needs.

We offer competitive life insurance policies, which include whole life and term plans, that will help to protect you and your family. Our firm will take the time to ensure you are signed up for the right plan and revisit it with you as your life changes.