What is the COSE Benefit Plan?
A benefit option designed for small businesses
July 24, 2024 | Tags:
Medical Mutual and the Council of Smaller Enterprises (COSE) have teamed up to offer a quality benefit option to small businesses of 50 or fewer employees.
The COSE Benefit Plan, also known as a multiple employer welfare arrangement (MEWA), seeks to help small business employers manage increasing healthcare costs while offering the same high-quality health benefits as large corporations.
You may be wondering “how does all of this work?” Well, it’s simpler than it sounds! Let us break down the COSE Benefit Plan for you:
A self-funded benefit option, meaning you pay a fixed amount based on the number of employees and estimated costs associated with the plan. Backed by Medical Mutual’s stop-loss coverage, you’re provided with added protection from large financial losses.
Allows you to join more than 8,300 small businesses, sharing risk pooling and contributions. This means you can offer benefits just like large corporations do!
Offered through various plan types, including traditional copay plans and high-deductible health plans with varying deductibles and coinsurance.
May be less expensive for your group than Affordable Care Act (ACA) plans because rates are set by medical history, age, gender and location. Additional savings are passed directly to your wallet as the COSE Benefit Plan is not subject to some of the ACA-mandate benefits and taxes and fees.
Includes prescription drug benefits with access to more than 59,000 pharmacies in network, ensuring your employees receive the care and attention they deserve.
Includes comprehensive wellness programs that help promote lifestyle goals and healthy environments to keep your employees feeling their best.
Ability to add on specialty Medical Mutual products, including dental, vision, life and disability, as well as accident, critical illness and hospital indemnity insurance.
Now, you may be asking yourself “How do I sign up?”
Great news! You can enroll in the COSE Benefit Plan no matter where in Ohio your business is.
After going through Medical Mutual’s underwriting process, you must join COSE and/or one of their affiliate chambers located in one of the following areas:
We always suggest starting with your broker. Tell them you heard about the COSE Benefit Plan through our blog post. If you don’t have a broker, call us at 1-877-355-4596 (TTY 711 for hearing impaired) or fill out our group quote form.
We will refer you to a broker in our awesome broker network or direct you to our COSE direct team.