An employee health plan — and the renewal process —  doesn’t need to cause you or your veterinary practice stress. In fact, with the right plan, an employee health plan should empower all members of your practice and create calm in an anxious world.

We understand that all insurance renewals — and especially employee health plans — can be confusing and stressful. That’s why the AVMA Trust created this blog post to help guide you through the process. 

1. Time Your Renewal or Coverage Change

When does your practice’s existing health plan expire? Understanding when your coverage expires (or is set to renew) is the first step in a successful renewal process.

Generally speaking, open enrollment occurs in November and December in about three-quarters of group medical plans, but as a practice owner or manager, you should begin your assessment well before the closing weeks of the year. It is best practice to begin 30 days before you expect to receive the “renewal” of your current plan – that is, the pricing and options for the following year.

Work back from the renewal date for your practice. Give yourself plenty of time to properly review and assess your needs and desires. The last thing you or your employees want is a rushed decision — or to renew with your current option simply because the clock ran out. 

2. Review the Past and Assess Your Options

If you offer a health plan to the practice, take the time to revisit your plan utilization. Did the group utilize your benefit plan during the past year? What did they like and dislike with the plan? Does it make sense to remain in the same plan or would switching coverages better fit your practice for the coming year? Has the size of your practice changed? Do you expect enrollment to change significantly over the next year?

Assessing your current situation by examining your plan usage and speaking with employees will help you understand your unique needs and may provide more options to you at renewal time.  

3. Minimize Burdens, Maximize Participation

Remember, your health plan should actually be a benefit not an administrative burden for you.  Nor should it be viewed as a restrictive plan for employees. Ideally, the plan should help attract and retain a talented workforce.

As you consider options, remember to assess not just the medical portion of your offering (e.g. network, plan designs, features, etc.). Administrative options can also prove incredibly helpful throughout the year. Some coverage options and carriers provide tailored customer service and online enrollment options that make employee adjustments easy and painless. Online bill pay is another feature that may help reduce your administrative burden and give you more time to deal with the day-to-day business of your veterinary practice.

Ready to explore your options?

If you’re ready to consider adding or changing the employee health benefit for your practice, consider the AVMA Trust Association Health Plan. Features include:

  • Monthly enrollments with rates locked to the end of 2021 (12+ months of cost stability, delaying premium increases)
  • Plans designed with various cost-shares and deductible amounts
  • Health Savings Account strategies available to promote responsible plan use and future healthcare cost
  • An optional partnership with Paylocity to offer significant savings on payroll and healthcare account services
  • Tailored customer service and online enrollment platform to make group adjustments and online bill pay  
  • Rabies vaccine and titer testing included in PPO networks

Veterinary practice owners are dedicated to health. It’s the foundation of a lifelong commitment to animals. But while veterinary practice owners and managers are experts on caring for animals, navigating the confusing world of employee health, is, well, a whole different animal. 

That’s why the AVMA Trust has created this four-step guide to help AVMA members understand and select an employee health benefits plan that’s right for you and your practice.

1 |  Explore Your Options

It’s not quite passing the veterinary exam boards — but there’s still a lot to consider when selecting a health plan. Coverage options are generally tied to the unique factors of a practice, but for small group benefits (typically 2 to 50 employees) the options remain plentiful. Consider that specific medical plans in the marketplace might offer a combination of: 

  • Major Medical Benefit Plan 
    • Including a choice between PPOs, HMOs and high-deductible plans
  • Large Network Access
    • Providing your employees more options to providers and doctors, including high- and low-deductible plan options available to suit need and budget  
  • Pharmacy
  • Vision and Dental
    • While not common, some plans offer additional benefits not covered in standard care plan
  • Wellness Program
    • Offers employees financial, health and community support
  • Employee Assistance Program (EAP)
  • Mental health, family and legal/financial resources
  • Healthcare and Dependent Care Flexible Spending Accounts (FSA)
  • Voluntary coverage 
    • To cover accidents, critical illness and hospital indemnity

2 |  Determine Your Budget

Like all business decisions with your practice, it’s essential to consider your budget. Group health is no small benefit and careful analysis in both cost and coverage must be considered.

It’s important to remember that in today’s insurance marketplace, small and midsize practices are not priced out. In fact, they have options that large employers cannot offer like the variety of group- and individual-coverage plans available, depending on your state, area and average employee age.

3 |  Weigh the Factors for Your Employees

A critical part of the process is to view the health benefits plan through the eyes of all your employees. A recent survey by the Veterinary Hospital Managers Association (VHMA) indicated the top pain point in practices is employee fatigue (stress, irritability, etc.), so it’s important to remember that offering a health plan might be the crucial decision for an employee to apply for a position at your practice — or leave for greener pastures. 

4 |  Understand Your Competition

From attracting and retaining clients to hiring and retaining staff, you know better than anyone that the veterinary industry is competitive.

Offering a simple benefits package over salary is added compensation that can maximize earned pre-tax revenue and should always be a valued part of the interview process or continuing benefit education. 

About the AVMA Trust Association Health Plan (AHP)

The mission of the AVMA Trust is to protect veterinarians through it all with veterinarian-inspired coverage. That’s why a group health medical plan is a critical member benefit for practice owners. 

The AHP now offers six fully insured major medical plans to practices through BlueCross Blue Shield to 12 states with coverage rates guaranteed until 2022. 

To learn more and to connect with the AVMA Trust, please reach out today: