Customizing healthcare coverage today while exploring investment opportunities for tomorrow.
YourWay Frontier is the revolutionary alternative to the traditional group health plan that benefits both employers and employees simultaneously. Employers gain direct control over healthcare contributions while removing the administrative burden associated with traditional group plans. Employees gain more flexibility by purchasing individual insurance coverage that fits their changing needs over time.
As most employees tend to purchase plans that cost less than what their employer contribution is, the YourWay Frontier plan then becomes a savings account, through which funds can be used to pay for qualified medical expenses such as future premiums, prescriptions and copays. In some instances, employees even have the option to invest unused contributed funds—all tax-free!
How YourWay Frontier Works
The YourWay Frontier is an end-to-end benefits solution made possible by the ICHRA (Individual Coverage Health Reimbursement Arrangement)—a January 2020 federal ruling that allowed for health insurance premiums to be included as qualified medical expenses reimbursable via health reimbursement accounts. This is a shift in the current model from a defined benefit to a defined contribution model.
Mapping the Frontier… YourWay
Employers simply contribute tax-free funds into a reimbursement account. Employees use these funds to shop and pay for their own health insurance through the marketplace—free from the limited choice associated with traditional group plans. OneBridge Benefits has designed YourWay Frontier as a completely turnkey solution with seamless onboarding, enrollment, administration, and ongoing support.
How YourWay Frontier
When you are allowed the freedom to choose your own benefit offering, the opportunities are endless. YourWay Frontier by OneBridge Benefits is one the most significant shifts in the benefits landscape since the introduction of the 401k offering. Designed with simplicity, flexibility and increased choice, the boundless benefits of YourWay Frontier are ready for you to discover.
Employers and employees gain greater control over their healthcare spend.
Offer a more robust benefits package to retain and attract top talent.
Reduce the complexity and administrative burden of your health plan offering.
Employees can make more informed decisions and choose the right health insurance for their needs and financial standing.
Insurance coverage and dollars saved are portable, meaning your employees can take their benefits and savings with them upon separation.
All of the benefits listed above with the added benefit of triple tax savings. All contributions, withdrawals and earnings are tax-free!
11 Different Employee Classes Available
One of the biggest advantages of YourWay Frontier is that it supports 11 different employee classes, which can be utilized to most appropriately assign employees to different benefit levels. OneBridge can help you determine each employee class as well as define the contribution limits for each of those classes. It’s all customized to your specific benefits needs.
Class Size Minimums may apply for certain employee classes who are offered the Frontier (or a Combination Class that includes any of these), when one or more other classes are offered a traditional group health plan. A Combination Class of two class categories is not subject to the Class Size Minimum requirement if one of the combined classes is the Waiting Period Class. For classes based on rating areas, Class Size Minimums only apply to rating areas smaller than a state. When a narrower rating area design is used, such as at the “county” level, then Class Size Minimums do apply.
|Employer Size||Class Size Minimum|
|200 or More Employees||20|
|100-200 Employees||10% of Employees|
|Fewer Than 100 Employees||10|
Important Reminder: Class Size Minimums only apply when at least one class is being offered a traditional group health plan. If multiple Frontier plans are offered to different classes, there are no minimum class restrictions.
Employees who meet their employer-defined “full-time employment” status, which is typically 30 or 40 hours a week. (Must be at least 30 hours.)
Employees who meet their employer-defined “part-time employment” status, which is less than their defined full-time status.
Employees who are paid on an annual basis and aren’t eligible for overtime pay.
Employees who are paid on an hourly basis and can earn overtime.
Employees who are hired for a specific season, or for a defined short-term period.
Newly hired employees who are currently in a waiting period for their health benefits, which is typically 60 or 90 days.
Employees who have entered into a written agreement between their employer and their trade union on the conditions of employment, rate of pay, hours of work, and other working conditions.
Employees who have been placed at the employer for a temporary assignment, and are formally employed through a staffing firm.
Employees who are located in a different geographic location but are thought of as having the same primary site of employment for rating area purposes.
Employees who belong to a new class created by their employer, which combine two or more of the above classes.
Employees who are considered nonresident aliens with no US-based income, including employees working outside of the United States.
Guiding the Way
For businesses that require flexibility and freedom, the only thing better than platinum is pioneering.
To help you determine if the YourWay Frontier can reduce the costs of healthcare plan offerings, OneBridge has prepared a table with average monthly premium costs for select individual coverage plans. Actual costs will vary by region.
Bronze Plans: $390-$410/Month
Bronze plans typically pay for 60% of covered healthcare costs, leaving participants responsible for the remaining 40% of medical expenses. Bronze plans have the lowest monthly premiums of all metal tiers, but the highest annual deductibles.
Silver Plans: $530-$550/Month
Silver plans typically pay for 70% of covered healthcare costs, leaving participants responsible for the remaining 30% of medical expenses. Silver plans have moderate monthly premiums and present participants with moderate costs if/when they need care.
Gold Plans: $650-$670/Month
Gold plans typically pay for 80% of covered healthcare costs, leaving participants responsible for the remaining 20% of medical expenses. Gold plans have high monthly premiums but low costs and low deductibles.
Platinum Plans: $780-$800/Month
Platinum plans typically pay for 90% of covered healthcare costs, leaving participants responsible for the remaining 10% of medical expenses. Platinum plans have the highest monthly premiums but the lowest costs and annual deductibles of all metal tiers.
Discover the Value of Frontier
Over 20 years, employees who leverage a Frontier plan will have over $70,000 in health savings available to help offset the cost of healthcare during retirement.
Contact OneBridge today to learn more!
|YourWay Frontier Funding||Monthly||Annually|
|Monthly Premium Expense||$400||$4,800|