Wharton Insurance & Financial Services works closely with the Builder’s Association of Greater Indianapolis to provide valuable services to their members. We facilitate the BAGI Group Health Insurance Program for builder members.
WIFS also has options for non-builder members of BAGI who are not eligible to participate in the BAGI Group Health Program.
WIFS can offer businesses that have 2-50 employees access to a private health insurance exchange called GRAVIE. A technology platform, GRAVIE serves business owners who wish to disband their group health insurance program but would like to continue to support the health of their employees. Employers may gross up the wages of their employees and then send them to GRAVIE to purchase their own individual plans.
GRAVIE Benefits Both Employers and Employees:
1) GRAVIE has access to over 900 health insurance plans, and well-trained customer service associates available 24/7 to walk your employees though their choices.
2) As an employer, you are no longer in the health insurance business. No more yearly reviews of the plan choices, or open enrollment meetings.
3) Employees are given more control over their health care choices. They can find a plan tailored to their needs, and allow them to access federal subsidies that could end up saving them money.
4) Your company’s bottom line is no longer subject to the yearly rate increases on your group health insurance plan. By combining health insurance coverage with wages, you can more accurately budget what you would like to spend on labor.
5) In many cases, GRAVIE programs cost 20-40% less than what you and your employees have been paying toward your group health insurance plan, saving everyone money.
The Affordable Care Act has brought many changes to the health insurance world, for both employers and employees. Starting January 1, 2015 all individuals must have health insurance, either through their employer or on their own, or be subject to a tax. Therefore, if you disband your health insurance plan, and an employee chooses not to buy health insurance with their increased wages, then they are subject to fines not you.
Wharton Insurance is pleased to be able to offer this option to non-builder BAGI members. For more information about the GRAVIE program, send us an email, or give us a call at 317.663.4138.