LMC Insurance and Risk Management (LMC Insurance) announced today the launch of a new health insurance solution that is underwritten by Wellmark Blue Cross and Blue Shield for Iowa-based employers with 51-500 eligible employees. The program, referred to as the Employer Coalition, will be available beginning Jan. 1, 2019. It will provide a more predictable insurance pool with features designed to stabilize costs long term, simplify administrative burdens and help employees better understand and utilize their benefits.
“Our goal is to create an innovative, new health insurance offering derived from the results of information shared from employers across the state of Iowa in our Midwest employer benchmarking survey, Share to Compare,” said Richard DeBartolo, Senior Vice President of LMC Insurance. “Today, employers in the fully insured market are asking for more influence in the decisions impacting their health insurance programs. Employers are looking at plans and technology designed to drive better consumerism.”
LMC says employers are looking for ways to collaborate with insurers to address cost trends, as well as help employees and families better understand and use their benefits, while also improving health outcomes. The Employer Coalition program has been designed with this in-mind, while creating a more stable insurance pool to provide employers with additional control through simplified, consumer-driven plans underwritten by Wellmark.
The Employer Coalition plan creates a stable pool that is more predictable to participating employers. It also provides a new level of partnership and collaboration through semi-annual stakeholder meetings, thus allowing employers more influence in the decisions impacting the program.
“We are excited to offer this new insurance solution and partnership opportunity to our clients,” said DeBartolo. “In the fully insured market, many of these employers want the ability to impact the long-term strategy on health care, improve health outcomes of their employees, control costs and invest in population health management.”
About LMC Insurance & Risk Management LMC Insurance & Risk Management is one of the Midwest’s oldest and largest independent brokerage firms, partnering with individuals, business and industry leaders across the nation in the areas of property casualty insurance, employee benefits and risk management services.
With roots dating back to 1865, the LMC team of experienced insurance professionals are licensed in 48 states. Headquartered in West Des Moines, Iowa, LMC Insurance also has offices in Nebraska and Wisconsin, and the LMC family of brands consists of four additional licensed insurance subsidiaries, including Independent Insurance Services, Molyneaux Insurance, The Friedman Group, Inc. and Agri-Business Insurance Services.
About Wellmark Wellmark, Inc. (wellmark.com) does business as Wellmark Blue Cross and Blue Shield of Iowa. Wellmark and its subsidiaries and affiliated companies, including Wellmark Blue Cross and Blue Shield of South Dakota, Wellmark Health Plan of Iowa, Inc., Wellmark Synergy Health, Inc. and Wellmark Value Health Plan, Inc., insure or pay health benefit claims for more than 2 million members in Iowa and South Dakota. Wellmark Blue Cross and Blue Shield of Iowa, Wellmark Blue Cross and Blue Shield of South Dakota, Wellmark Health Plan of Iowa, Inc., Wellmark Synergy Health, Inc. and Wellmark Value Health Plan, Inc. are independent licensees of the Blue Cross and Blue Shield Association.
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