fbpx
$60M Annual Premium Managed
20,000 Active Plan Members
200+ Satisfied Clients

Hybrid Plans

  • Reduced Premium Fluctuation
  • Increased Employee Participation
  • Coverage Flexibility
Google Review logo
5 Stars

The Perfect Mix of Flexibility and Predictability

Key Benefits

Simplified Claim Process:

Enjoy a straightforward claims experience that allows employees to submit and track claims effortlessly, ensuring quick resolutions and increased satisfaction.

Mitigated risk:

Our hybrid plan balances risk effectively, giving your business peace of mind while providing comprehensive coverage tailored to your employees’ needs.

Technology-Focused:

Say goodbye to paperwork! Our tech-driven approach allows employees to manage claims effortlessly through their phones, ensuring a smooth and convenient experience at their fingertips.

What is a hybrid plan

A Hybrid Group Benefit Plan offers the best of both worlds. It combines the cost-control features of a Self-Insured Plan with the risk protection of a Fully Insured Plan. These plans often include a Health Care Spending account (HCSA) for specific coverage, such as paramedics.

Placeholder Image

Questions on Your Mind?

Looking for same-day answers? Email us or schedule a call with one of our benefits specialists.

Comparison Chart

Comparison Chart
Traditional ASO Hybrid
Cost Predictability
Cost Predictability Fixed premiums, predictable costs. Variable costs based on claims. Mix of fixed premiums and variable costs.
Financial Risk
Financial Risk Low, insurer covers claims. Highest, employer covers claims. Shared, with capped risk.
Plan Flexibility
Plan Flexibility Limited, insurer-defined High, customizable options Moderate, with flexible HSA
Administration
Administration Minimal employer involvement. Higher, employer-managed claims. Moderate, mix of insured and HCSA options.
Best suited for
Best suited for Small to Mid Mid to large All
Renewal Process
Renewal Process At times unpredictable Mid transparency Could provide highest control over rates

Best Suited For

Medium to Large Businesses looking for a blend of cost control, flexibility, and manageable risk. Hybrid plans are ideal for companies seeking customizable solutions that adapt to their unique workforce needs.


Hybrid benefit packages include

Prescription
Drugs

Antibiotics, narcotics, creams, etc.

Dental
Treatment

Teeth cleaning, braces, crowns, etc.

Paramedical
Expenses

Physiotherapy, massage therapists, chiropractic care, etc

Vision
Care

Glasses, contact lenses, eye exams, etc.

Medical
Equipment

Crutches, nebulizers, CPAP machines, etc.

Travel
Medical

Emergency medical expenses

Wellness
Spending Account

Flexible allowance for additional health-related needs

Life & Disability
Coverage

Disability Insurance, Term & Permanent Life Insurance

Hospital Room
Upgrades

Semi-private or private rooms

Orthotics

Custom orthopedic shoes and compression socks, etc.

Why is a group plan important

Implementing a group benefit plan is crucial for attracting and retaining top talent. It demonstrates a company’s commitment to employee well-being, enhances job satisfaction, and
fosters loyalty. Additionally, such plans can improve productivity by ensuring employees have access to essential health services, reducing absenteeism.

Offering comprehensive benefits also positions the company as competitive in the job market, helping to build a positive workplace culture. Overall, a well-structured group benefit plan contributes to a healthier, more engaged workforce.

FAQ

Employees typically have access to a health spending account (HSA) or a wellness spending account (WSA), where they can use allocated funds to cover a variety of eligible expenses. This allows them to direct their coverage where they need it most.

Core benefits often include health, dental, vision, and life insurance, while flexible benefits may include options for paramedical services, wellness programs, fitness memberships, and more. Employers decide on the balance between core and flexible benefits.

While a hybrid plan can involve more administration than a traditional plan, many providers offer solutions that simplify management, such as digital tools and third- party support. Employers may need to coordinate the core and flexible components, but plan administrators handle claims processing and compliance.

Increased Flexibility: Hybrid plans allow for more customization, providing employers with the ability to design a plan that fits the specific needs of their workforce.

Cost Control: Employers can save money by taking on some of the financial risk for non-standard benefits, particularly if the actual claims costs are lower than expected.

Comprehensive Coverage: Employees still enjoy the security of traditional fully insured benefits while gaining access to more flexible, cost-effective options like Health Spending Accounts for other health-related expenses.

Better Employee Satisfaction: Employees appreciate the increased coverage flexibility, allowing them to manage their healthcare needs more efficiently.