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This is Chris Redgrave for Zions Bank Speaking on Business.
Health insurance remains an important concern for many business owners. Costs continue to rise, and with new regulations, some business owners find themselves in the difficult position of trying to find affordable insurance coverage for their employees. That's why Rick Lindquist and the team at Zane Benefits in Park City are working to break the insurance mold.
Rick says health insurance is a consumer product, so employers know it doesn't make sense to choose a "one size fits all" plan. Instead of a plan picked for them, employers using Zane Benefits can use a health insurance concierge program so an employee uses a portal, with support available, to research available health plans. The concierge walks through what plan is best for the consumer based on circumstances and risk tolerance. According to Rick, Zane Benefits can also save the employer and employee as much as 60 percent on health insurance costs.
This setup frees the company from arranging health coverage by reimbursing employees for insurance they buy on their own, similar to the way 401ks are set up. Employees can now find affordable options on the individual market through Zane Benefits. It also provides portability, so if employees transfer or switch jobs, they can keep their insurance.
Company founder Paul Zane Pilzer realized group health insurance was not the best product for the average consumer, so he wanted to find a way to offer individual health insurance in a more affordable and choice-driven way. That was in 2006. The solution he came up with was Zane Benefits, and, he brought Rick on board as the company president.
The Zane Benefits system is completely cloud-based, compliant with federal regulations and employees can take care of the setup themselves. The whole goal of the company is to help employers continue to offer health benefits and to assist in getting health care. Rick says his focus now is to get the word out and show small businesses the benefits of their system so they can create economic value for business owners and their employees.
For Zions Bank, I'm Chris Redgrave, speaking on business.
Zane Benefits 136 Heber Ave. Park City, UT 84060 435-200-0251 www.zanebenefits.com
