BANN Insurance through Hometown Health
Nevada small businesses will see another addition to the association group health plan market at the end of this year. BANN (Builders Association of Northern Nevada) will allow small employers to group together and have similar health insurance options as large employers. In addition to more options, eligible businesses will be able to take advantage of lower rates than ACA small group plans.
Hometown Health will be the company behind the BANN health insurance small business group. Currently, Hometown boasts the largest network of doctors and providers in Northern Nevada. There is little information about the plan now since the details have yet to be officially released. Our office will be reviewing them once those become available. We will shortly be able to provide current, as well as, new groups with specifics and quotes for the plans. Our office expects to see 10 to 15 percent lower rates for the BANN health insurance option than current ACA qualified plan options.
This will now be the 4th new option for Nevada small businesses this year.
These are options that are sperate from traditional ACA plans. In early 2018, Aetna released a self-funded option. We have since seen Prominence and Anthem release their own association health plans. Both of these association health plans connect to a chamber on commerce in Nevada. The Prominence association option is linked to the Reno and Sparks Chamber of Commerce and Anthem’s is tied to the Las Vegas Metro Chamber of Commerce. Both association plans require that the insured group be a part of their respective chambers. Groups looking to be a part of the BANN insurance group will likely need to be a member of the Builders Association as well.
Our office will be providing more information for our current clients as well as any group looking to enroll in this association plan in the coming weeks. Please call our office or submit a group quote request through our website if you are interested. As your health insurance broker, we do not charge our clients fees. We are a completely no cost resource for you to use.