What are Enhanced Benefits?
The Affordable Care Act sets out to make health care more affordable by reducing health insurance premiums through advanced tax credits, known as premium subsidies and by lowering the out-of-pocket costs through cost-sharing reductions, or Enhanced Benefits.
There are four levels of Enhanced Benefits, known as Enhanced 73, Enhanced 87 and Enhanced 94. The number refers to the average amount the health plan pays in expenses for covered benefits. For example, Bronze plans pay 60% of health care costs on average, Silver plans pay 70%, Gold plans pay 80% and Platinum plans pay 90%.
Enhanced Benefits Solutions
When it comes to attracting and retaining talented employees, Enhanced Benefits help differentiate your company from its competitors, improve employee satisfaction and create more impact on your employees’ wellbeing.
Enhanced benefits can provide rewarding financial gain during what normally would be a very trying time for the insured. Accidents, critical illnesses, and hospitalizations can occur out of the blue and to anyone, and these plans help offset the risk of rising medical costs. These benefits enable your company to offer additional benefits that are appealing to employees, without incurring any additional cost to your company. Enhanced benefits further improve your offerings, giving your employees additional options to meet their needs better. Primordial Benefit Solutions, LLC helps you identify the benefits that are the best fit for your employees and design packages that are practical and desirable.