By Brian Dow, President
When asked why we created FlexBenefits, the answer is clear: to address the growing burden of out-of-pocket expenses faced by many individuals in various health plans. This issue is not limited to the individual ACA market but extends to the Medicare Advantage market and the small group markets. Deductibles continue to rise in an attempt to prevent premium increases, making it difficult for many people to afford using their health plans.
Many individuals pay hundreds of dollars in premiums each month, only to face deductibles and out-of-pocket expenses ranging from $5,000 to $10,000 before their health plan starts contributing. What the market desperately needs are first-dollar benefits.
FlexBenefits was created to meet this need by offering first-dollar benefits that help protect personal savings and prevent medical debt in cases of accidents, critical illnesses, or hospitalizations. Additionally, Flex Benefits assists with managing everyday healthcare expenses through a mobile app from Clever Health, completing a comprehensive package of benefits.
Consider the cost of consumer debt: a $5,000 medical expense paid with a credit card can accrue significant interest, turning a temporary setback into a long-term financial burden. Flex Benefits aims to prevent such scenarios by providing immediate financial support.
Our approach allows brokers to tailor benefits to fit their clients’ specific needs and budgets. FlexBenefits is not a “one size fits all” or “one and done” product. With pricing based on the issued age, clients can avoid substantial renewals.
We encourage every agent to start discussing these options with their clients.
