Partnership to Enhance Employee Health Benefits and Reduce Employer Costs for Businesses of All Sizes
DALLAS, TEXAS / ACCESSWIRE / December 17, 2024 / AffordaCare Insurance, a nationally recognized group health insurance agency dedicated to revolutionizing the traditional employee benefits model, and ADP, a leading provider of human resources management and software solutions, announce its new partnership to offer ADP client-companies the AffordaCare Insurance Champion Health Plan. This unique and innovative healthcare solution is designed to significantly expand upon employee health benefits coverage at a net-zero out-of-pocket cost for employees.
AffordaCare Insurance's Champion Health Plan (i.e., The CHAMP PlanTM) is an independent benefit program that complements an employer's current healthcare plan by offering employees unlimited access to doctor visits, urgent care, prescriptions, virtual physical therapy, mental health services, and more. The CHAMP Plan aims to improve employees' health, productivity, and retention while providing significant financial savings for companies with existing group major medical health insurance.
"ADP is excited to team with AffordaCare Insurance to offer this additional health benefit. As a world leader in HR solutions, we see the AffordaCare Insurance Champion Health Plan as a 'no brainer' for any business, both small and large," said Timothy Valvano, Sales Executive, Franchise & Affiliations at ADP. ADP will integrate the AffordaCare Insurance Champion Health Plan with their RUN Powered by ADP Enhanced Payroll, creating a comprehensive, easy-to-use payroll and health benefits solution for their clients.
"Companies are currently navigating rising health insurance costs and reductions in benefits, coupled with an uncertain economic environment and challenging hiring environment," said Steven Guilfoile, CEO of AffordaCare Insurance. "AffordaCare Insurance helps add tremendous value by allowing every employee access to an expanded array of essential health coverage for no additional net cost."
AffordaCare Insurance, founded in 2011, is dedicated to revolutionizing the traditional employee benefits model. The CHAMP Plan, AffordaCare's flagship product, delivers substantial cost savings for both employers and employees without compromising the quality of care or requiring changes to existing networks. It works by leveraging a unique structure that drives significant savings, including:
Tax Benefits for Employers: Reduced FICA taxes can save companies hundreds of thousands of dollars annually.
Increased Take-Home Pay for Employees: Employees benefit from tax savings, leading to higher take-home pay despite new deductions.
Lower Insurance Premiums: By absorbing many routine claims, the CHAMP plan helps lower major medical insurance premiums.
Potential Year-End Refunds: Some businesses may receive substantial refunds from their primary insurance carriers.
The CHAMP Plan creates a win-win scenario where employers save money while providing enhanced healthcare access to their workforce by utilizing pre-tax and post-tax deductions. This groundbreaking approach allows companies to offer top-tier health benefits that attract and retain talent, all while improving their bottom line.
"The CHAMP Plan proves that better healthcare and cost savings cango hand in hand, marking a new era in employee benefits," concluded Guilfoile.
About ADP
Designing better ways to work through cutting-edge products, premium services, and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits, and Payroll. Informed by data and designed for people. Learn more at ADP.com.
About AffordaCare Insurance
AffordaCare Insurance is a nationally recognized group health insurance agency dedicated to revolutionizing the traditional employee benefits model. Its signature product, the CHAMP Plan, combines the best features of fully insured and self-insured plans, delivering substantial savings and improved benefits to employers and employees alike. With over 27,000 affiliated agents, brokers, and partners across 60+ locations nationwide, AffordaCare Insurance is committed to providing value-driven healthcare solutions that promote healthier, more productive workforces while minimizing costs. The company has collectively saved employers and employees billions of dollars in healthcare-related expenses through its innovative plans and services. For more information, visit AffordaCareInsurance.com/Champ.
Contact Information
AffordaCare Insurance
connect@caelumcomm.com
SOURCE: AffordaCare Insurance
View the original press release on accesswire.com
Related Documents:
- Champ Plan and ADP.pdf
