Ratner Companies Selects Century Healthcare Limited Benefit Medical Plans; Mini-Med Plans Provide Solution to Rising Healthcare Costs for Employers.DALLAS & LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- Century Healthcare (CHC CHC Chicago Cubs CHC Community Health Center CHC Chestnut Hill College (Philadelphia, Pennsylvania) CHC Congressional Hispanic Caucus CHC Community Health Council (UK National Health Service) ), a third-party administrator (TPA (Transient Program Area) See transient area. TPA - Transient Program Area ) providing limited benefit medical plans, today announced it was selected by Ratner Companies, an operator of nearly 1,000 hair-salon chains with 14,000 stylists, to provide a highly-customized limited benefits medical plan or "mini-med" healthcare plan for employees working more than 25 hours a week. The plans are designed to offer employees coverage for basic medical services and every day medical expenses that employees need most, including doctor visits, prescription drugs, accidental medical coverage, hospital stays and surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. . "We had only 13 percent of our employees utilizing our major medical coverage because of the expense," said Candice Mendenhall, senior vice president of human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. for Ratner Companies. "After offering CHC's mini-med plan, our participation rate has grown to 70 percent and the lower premiums enable the company to pay 100 percent of those costs for our employees. This has been a significant competitive advantage for us when many companies are cutting back on health insurance and raising premiums." CHC monthly premiums range from $50 to $150 in contrast to $308, the 2004 national average monthly premium for employer-sponsored single healthcare coverage, according to America's Health Insurance Plans (AHIP AHIP America’s Health Insurance Plans AHIP Army Helicopter Improvement Program AHIP Academy of Health Information Professionals AHIP Association of Hearing Instrument Practitioners (Ontario, Canada) AHIP ARPANET Host-IMP Protocol ). As a TPA, CHC is a one-stop shop One-Stop Shop A company or a location that offers a multitude of services to a client or a customer. The idea is to provide convenient and efficient service and also to create the opportunity for the company to sell more products to clients and customers. for claim service and eligibility processing. The plans also allow Ratner Companies members with access to some of the best providers through a strong national PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there . "There has been a continued decline in the number of employer-sponsored major medical plans over the last four years and mini-med plans have become a viable option for employers that find themselves not being able to afford major medical coverage due to rising costs," said Kevin Brown, employee benefit planner for Professional Benefits Solutions (ProBen) that sold Ratner Companies the CHC plan. "CHC has incredible flexibility to customize the health benefit plan to meet the employer's budget; larger carriers can't do that. They also provide a single point of contact for administrative ease with one consolidated bill, one customer service number and one ID card for employees." "The mini-med plan is not just for part-time and hourly employees," said Derek Peterman Pe´ter`man n. 1. A fisherman; - so called after the apostle Peter. , CHC CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Eighty percent of the 46 million people without health insurance have full-time jobs but can no longer afford the rising premiums. Employers have to start looking at healthcare options that best meet the medical insurance and financial needs of their employees." About Century Healthcare Century Healthcare (CHC) is a full-service, third-party administrator (TPA) and a licensed and bonded healthcare insurance organization. The company specializes in the design, administration, and implementation of customized limited benefit medical plans (mini-med plans) to offer more options for affordable health insurance, lower costs, simple administration and competitive advantage to employers across the U.S. For more information, visit www.chctpa.com. About Ratner Companies Privately-held Ratner Companies operates Hair Cuttery (company-owned and franchised), Hair Cuttery UK, BUBBLES, Salon Cielo and Spa, ColorWorks, and Salon Plaza. With nearly 1,000 salons, Ratner Companies supports more than 14,000 stylists across 14 states and the United Kingdom. For more information, visit www.ratnerco.com. |
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