Nonprofits should take important decisions about employee health benefits 
. Management teams know the importance of health benefits to recruit and retain key talent -. and yet costs remain a challenge
According benefits PPI Solutions Survey 2015 benefit nonprofit employees, the number one objective in the selection of benefit plans continues to be Äúcontrolling costs Âu with 97 percent of the participants its rating, Äúvery, AU, Äúextremely, important in. In addition, the cost for employees is the second most difficult factor, and has been a growing concern since 09.
For non-profit leaders, the pressure to deliver or maintain competitive advantages while respecting budgetary constraints leaves many non-profit organizations to evaluate the quality, cost and value of their health benefits each year
This article discusses the top five health insurance options for nonprofits in 2016 - .. and what options can help alleviate the cost problems for the organization and employees
non-profit health insurance options
1. individual health insurance funded by the employer
the first option is a relatively simple approach -. Reimburse employees for health insurance premiums instead of offering a group health insurance policy
With this option, employees receive a health care allowance financed by the employer, buy their own individual health insurance coverage, and are reimbursed by the non-profit - to the amount of their balance of allowance
to go this route, nonprofit generally work with. a provider of health care reimbursement software. A software provider will help the non-profit set up a repayment plan in line, and provide a platform for easy administration to use to manage allowances and reimbursements
Bottom line :. For many small nonprofits, it is the most cost effective solution because the organization can contribute any amount they wish, insurance individual disease costs significantly less - on average -. against plans for small groups, and the administration time is minimal
2. Plan for Small Private Group
The second option is a non-profit are likely most familiar with - purchase a group health insurance policy to cover employees and eligible dependents. There are many types of group health insurance policies to choose from, and a licensed broker can help the organization navigate different carriers, types of plans, coverage levels and costs.
One of the challenges of group health insurance policies, particularly for small nonprofits, is the cost structure and contribution. With group health insurance, the organization is usually required to pay a minimum percentage towards the costs of premiums and fees generally increase each year renewal time plan
Related:.? How the cost of insurance illness Much group
Bottom line :. once a go-to for quality health benefits, group health insurance policies become too expensive for many employers, non-profit, board of directors, and employees
3. SHOP plane Group market
the SHOP markets are statements or federal exchanges managed offering health insurance coverage for small employer groups. A SHOP plan could be good coverage option for employers with 50 or fewer employees, if they can meet certain requirements. For example, in Massachusetts employers participating in the SHOP must contribute at least 50 percent of the premium amount, employers with 1-5 employees must have 100 percent of registered employees and employers with 6-50 employees must have at least 75 percent enrolled.
also for small organizations eligible non-profit, the market Store provides access to tax credits for small businesses.
to go this route, nonprofit must work with a licensed broker to explore options of the plan, assess eligibility for a tax credit, and the purchase of a benefit plan
Bottom line : SHOP plans are similar to a private group insurance plan for health - the main difference being that they offer access to small business. tax credits and may have requirements for participation or contribution more flexible.
4. Private Health Exchange
With a non-profit private exchange offer to employees a set contribution to a plan to use options menu . Plan options can be indi- or group. private exchanges are a type of strategy Äúdefined contribution,.
A challenge for small nonprofits is the administration of a private exchange of health. To assess whether this is a viable or cost effective to work with a broker or a private health exchange provider
Bottom line . Although the idea of a private exchange of health looks promising, small organizations without profit likely do not have the administrative bandwidth to implement. Instead, nonprofit adopt individual health insurance funded by the employer -. A similar concept, but with easier administration
5. Co-Op
The health insurance option for Non-profit is to final join a cooperative or an association for health insurance. The basic concept is the cooperative is to increase the purchasing power and spread risk among a larger group
Bottom line :. Each cooperative is structured differently, so the co-op may offer better that a policy of insurance rate group or SHOP policy according to regional insurance underwriting laws and the cooperative itself .
Conclusion
In a sea of health insurance policies, most can be boiled until these five options: individual reimbursement of health insurance, an insurance scheme private group of disease, SHOP market plan, a private exchange or cooperative. As nonprofits seek to minimize costs while providing benefits that meet the expectations of employees, more small and medium nonprofits size adopt individual repayment of health insurance.
What are the insurance options nonprofit disease add to our list? What questions have your nonprofit? Leave a question, comment or idea below.
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