Medical

Employers with less than 51 TOTAL Employees

Modern Concepts works with health carriers nationwide to cover the employees of companies with less than 51 full time employees. We have sold medical and dental plans to countless numbers of companies that fall into this size range.

We offer the following types of Health Insurance products:

HMO - Health Maintenance Organization
PPO - Preferred Provider Organization
POS - Point of Service Plan
EPO - Exclusive Provider Organization
HSA - Health Savings Account
HDP - High Deductible Plan
PSFP - Partially Self Funded Plan

Each employer has different needs, different budgets, different comfort levels, and different goals to meet. Working closely with you, Modern Concepts will be able to determine which of the above products best fits your needs. For example, it could be an HMO, PPO, or a combination of plans (such as HMO/PPO or HMO/HSA, etc.).

Our company deals with existing companies that have a minimum of three lives. In order to initiate a medical contract there must be an employee/employer relationship. Thus, a husband, wife, and son, for example would only constitute one employee. There would need to be two additional employees to make the three employee minimum. In addition, the health carrier will want to see a current quarterly wage statement (called the DE-6 in California) from your payroll provider such as Paychex, Ceridian, ADP, etc.

If you are a new company, or an IPO startup, we may also need to see a copy of one payroll run, or pay stubs from the last payroll run, or paychecks if there hasn’t been a payroll run yet. The insurance carrier wants proof that your company exists for a business purpose, and is not a personal holding company. We have helped all types of companies obtain health benefits from the initial phase of development.

If it can be done, we have probably already done it! We look forward to assisting you.

Employers with 51-300 Employees

Over the past 30 years, many of our clients fit in this size category. Some companies have grown into this size range in only a short period of time, others over a number of years. Some of our clients have been around for 50 or more years, are well established with a proprietary product, work process, or service, and maintain a workforce that averages 150-300 employees.

Whatever your business, we have an enormous number of health carriers nationwide that want to compete for, and insure employers in this size range. We have clients from coast to coast, some with employees in multi site locations. We deal with local health carriers in 40 states, and national carriers in all 50 states.

Because of your size, the products that are available to you have increased in variety and choice of funding arrangement:

Funding Arrangements: Fully Funded, Partially Self – Funded, or Completely Self-Funded:

Medical Products: - HMO
- PPO
- EPO
- POS
- HSA/CDHC

Within these options, you can choose from a variety of outpatient, hospital co-pays and deductibles; pharmaceutical co-pays, deductibles or Stand Alone Plans; Health Savings Account (HSA) with investment options; EAP and Substance Abuse options; cash flow return of premium products. (see Funding Arrangements)

In addition, Modern Concepts can offer your employees Multiple-Plans (Cafeteria Plans), with different co-pays, prescription levels, and hospital costs. Further, we have insurance carriers that allow us to use advanced funding methods that can result in a 10% rate reduction at the inception of the plan, or dividends at year end based on your employees’ good claims experience.(see Creative Funding options)

For companies with multi-state workforces, we have health carriers with providers in just about every city, country, or state offering a fully funded HMO, PPO, EPO, POS, HSA, or an ASO or Self-Funded approach that accomplishes the same goal and creates significant cash flow savings immediately. There are many choices for companies in this size range. We have 30 years of knowledge and expertise in this marketplace that can produce dynamic results. Modern Concepts has unlimited referrals. (see Our Clients)

Employers with 300-5,000 Employees

Modern Concepts has worked quite successfully as both insurance broker and consultant with many companies in this size range. Such companies include: Speedo, Fujitsu, Motherhood Maternity Stores, Coast Grain, Transtar Metals, Authentic Fitness, Brighton Collectables, Pilkington Aerospace, California Truss, Detroit Diesel, Hansen’s Natural Sodas, Lawry’s Restaurants, Tower Automotive, Lamps Plus, Goldrich & Kest Enterprises, Leiner Health Products, Transworld Financial, Pacific Precision Metals, TORO Manufacturing, Compact Video, and many others.(see Our Clients)

Their companies share the following requirements: - Maintain a highly productive workforce - Keep employee morale at a high level - Reduce absenteeism and turnover - Offer all employees an excellent benefits program that will help retain current employees, and recruit new employees. Skilled labor is hard to find! - Require a high level of service and responsibility from their insurance broker - Demand price concessions from their vendors, including their insurance carriers - Insist that their insurance broker negotiates prices below market levels, and manages their claims experience efficiently through a creatively designed medical and dental program. - Create cash flow savings through low medical claims usage, allowing the company to utilize valuable cash elsewhere in the corporation. - Require interface between the insurance brokers’ staff and that of the clients’ Human Resources Department - Schedule monthly and quarterly meetings with their insurance broker to discuss their claims experience, medical trends, and review their costs in comparison to target goals, including regional and national benchmarks.

Modern Concepts has been able to meet these criteria and more on a consistent basis.

Over the past 30 years our experience has shown that approximately 25% of the companies in this size range offer their employees a Fully-Funded Medical/Dental Plan and pay anywhere from 75% to 100% of employee and 0% to 100% of dependant cost. Their contributions vary by industry, thus a high tech company may offer a non-contributory benefits package to their highly skilled employees; whereas a blue collar employer may be able to only pay the employee cost, and let their workforce pay their dependant costs through a Section 125 premium only plan.

In a Fully-Funded Plan Claims usage, along with our strong marketing and negotiating skills, have a huge bearing on current and future premium costs. Your claims experience will vary from 100% credible, to 60/40% credible to manual, based on the number of employees covered on your plan.

Claims usage is published monthly by the carrier in-force, and analyzed and discussed monthly with you. We are able to break the claims down into specific cost areas. Because the insurance carrier provides all services, your only responsibility is to pay the monthly premium. This strategy can work well over three to five year periods as long as the carrier provides excellent service, reasonable retention costs, and a competitive renewal.

The other 75% of large group companies Partially or Totally Self-Fund all, or most of their benefits programs. Modern Concepts has designed dozens of ERISA qualified plans that meet your goals of competitive benefits for your employees, reasonable out of pocket costs, large and highly discounted participating provider networks, access to the best pharmaceuticals available, and overall low claims costs. Couple this with highly negotiated reinsurance costs, utilization review, and a superb TPA or ASO administration of your claims, and you will be as proud as our clients are of your benefits program, and the competitive level of your costs.

Normally these types of plans can result in cost savings anywhere from 20% to 50% below the market price. Everyone wins when your medical/dental program is set up properly. (see Funding Arrangements & Creative Funding)

Over the past 30 years, Modern Concepts has helped corporations of all sizes save millions of dollars in reduced medical/dental costs. This has been accomplished through our cutting edge medical/dental plan designs, competitive bidding, negotiating skills, and insightful knowledge of the marketplace. We have plan documents and outcomes that we can share with you.

Where does that leave you?

Without question, a properly designed and conceived medical/dental plan can reward your company with a high level of benefits, yet with costs tremendously below what you are paying.

Let us prove it to you. Call us today!