Md. Firm to Launch New Insurance Plans to Help Businesses Struggling with Cost of Health Care Reform

BALTIMORE - Aug. 7, 2013 - PRLog -- Towson, Md. – Benefit Indemnity Corporation (BIC) is launching a series of employer health benefit plan options designed to give businesses affected by health care reform measures and ever increasing costs greater flexibility and lower insurance costs.
           The new Revolution Series features a collection of self-funded health benefit plans, which businesses all over the United States can use to carve out coverage options that meet the needs of their employees without having to worry about many of the onerous aspects of the Patient Protection and Affordable Care Act (PPACA). Self-funded health plans are treated differently in some of the requirements of the PPACA. 
            “We have been working to deliver employers the cost saving benefit plans they need, while at the same time enabling them to provide the kind of health coverage options their employees desire,” said Rodger A. Bayne, BIC’s president and CEO. Bayne has been a leading expert on health care reform and its effects on businesses since before the introduction of Hillary Clinton’s health care reform proposal in 1993 and Maryland’s passage of small-group reform legislation.
            “The name of the game now is flexibility,” Bayne said. “The Revolution Series is built to deliver incredible flexibility at a time when health reform measures seem to be taking it away.”
            More than four of five insurance executives said they are seeing more interest in self-funding plans, where employers cover health claims, according to a recent poll sponsored by Munich Health North America. Employers using self-funded health plans are entitled to any funds not used for claims; historically, in the small-group market, claim savings may go to about half of companies. 
            The Revolution Series is built to allow employers the ability to purchase benefits to meet their unique circumstances.
            “The Revolution Series isn’t just four basic plans, but rather a platform on which we can provide customized health insurance plan design to businesses with as few as 15 employees or companies with thousands of workers,” Bayne said.
            BIC will launch the Revolution Series at three meetings with health insurance agents and brokers later this month. Those meetings are scheduled in Baltimore, Aug. 13; Cambridge, Md., Aug. 14, and Rockville, Md., Aug. 15. For details on those meetings, visit the Revolution Series Kickoff event webpage (http://www.cvent.com/events/revolution-series-kickoff/eve...).
            BIC is a far-reaching enterprise designed to help various stakeholders in and touched by the insurance industry to access the knowledge, skills and strategies to help them succeed amid the changing world of insurance and health care reform. Bayne and his team of experts offer a wide range of expertise – from reform, captives, health insurance and self-funding options, to wellness, sales and marketing. They provide unique and valuable perspectives to the businesses they serve. BIC is a U.S. captive domiciled in the United States Virgin Islands, with local business operations based in Towson, Md.
           To learn more about BIC or the new self-funded health benefit plans, visit http://benefitindemnity.co.
           View a video preview of the program: http://www.youtube.com/watch?v=kKT9fEP3sWA;hd=1


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