Association plans, which can also be referred to as Chamber plans, are a great alternative health insurance plan for your small business clients wanting savings and more options for their employees. For example, Anthem Association plans allow smaller-sized clients to join together and save more. But what does that really mean? Keep reading to find out how these types of plans work.
Review of Association Plans and Chamber Plans
Simply stated, these plans are just group health insurance where multiple employers join together to offer medical benefits to employees. By joining together and increasing the number of participants, these groups of employers can qualify for “large group” health plans and can get competitive rates, flexibility with benefit options, and more.
These plans allow employers to join to share in the overall claims risk. By being part of a larger, self-funded pool, employers have financial protection backed by Anthem.
Other benefits of chamber plans and association plans include combined purchasing power, more stable monthly rates, greater negotiating strength, access to Anthem networks and the Essential RX Formulary, and options for specialty insurance add-ons.
How Association Plans and Chamber Plans Work
These group plans are self-funded trusts that are established and maintained for the purpose of offering group insurance to small businesses searching for cost-saving health coverage options. The joining of businesses can lead to more rate stability and offer potential savings for the participating groups. These plans are designed to allow small-sized businesses to get the savings available to larger groups, which are often less expensive and better tailored to the needs of employers.
Chamber or association plans usually apply to businesses in the same industry or geographical area. Small businesses with 2-50 employees located in Kentucky or Indiana and in good standing with a local Kentucky Chamber of Commerce, the Indiana Chamber of Commerce, or the Indianapolis Chamber of Commerce are eligible for these plans*.
Who Is Eligible for These Plans?
Eligible businesses meet the following criteria:
- Located in Indiana or Kentucky
- Have between 2-50 employees
- Members of a local chamber of commerce
To learn more about which employees are eligible, further details, and other benefits download the Broker’s Guide to Anthem Association Plans.
These plans can be useful to small businesses looking for the same benefits as larger businesses. Agent Link is here to help with any questions or issues you may encounter when selling Anthem Association Plans. Learn how we can help you sell Chamber Plans and Association Plans here.
*For complete employer eligibility details, reach out to an Agent Link representative.