with a tax-free stipend to use against health insurance. Employees use the funds to purchase coverage through Connect for Health Colorado, which is the state’s official health insurance marketplace. Each employee is given the option of selecting their choice of coverage package which best suits their requirements. Since the package is linked to the employee and not the employer, it remains with the employee even after they quit their job.
Recently, the Summit Chamber of Commerce and Peak Health Alliance convened a panel of health experts to address affordable healthcare. According to panelist Jack Hooper, CEO of Take Command Health, the reimbursement scheme may be advantageous because it allows employees to have more power over their own package. Furthermore, employers are not expected to find a single package that covers all of their workers and has the most competitive premiums. Hooper said, “The group market (is) functional. We’ve relied on it for a long time, but the reality is employers are not good negotiators at health care.”
According to Hooper, many companies use health insurance as a recruiting tool to hire talent. However, businesses involving seasonal or part-time employees can make use of…
