BENTONVILLE, Ark., Dec. 30 /PRNewswire/ -- According to the National
Federation of Independent Business the high cost of health insurance continues
to be the #1 issue facing business owners. However, thanks to a number of
recent legislative changes affordable health care solutions are now available.
Effective January 4, 2006, SAM'S CLUB and Extend Benefits Group LLC will
join forces to offer a new and innovative health insurance program for
businesses. The ExtendChoice(TM) for SAM'S CLUB program leverages new
employee benefit tax rules and the growing popularity and affordability of
individual health insurance plans to provide employers and their employees
with a broad choice of affordable individual health insurance plans from major
carriers in all 50 states. Extend Benefits assists each employee in making
the most effective use of this allowance to pay for an individual plan that
best fits his needs and budget.
ExtendChoice(TM) is a defined contribution health care program that allows
employers to provide their employees tax free dollars to be used to secure
their own individual health insurance and/or pay for qualified medical
expenses. Traditional employer-sponsored group plans can cost $5,000- $10,000
per worker per year with increasing out-of-pocket costs, deductibles and co-
pays. The ExtendChoice(TM) solution allows the employee to pick an individual
plan that best fits his needs and budget which typically results in
substantially lower insurance costs. The employee selects from a wide range
of plan designs (PPO, HMO and HSAs) with his personal doctors and local
medical facilities included "in network".
"We have been searching for an innovative and cost effective way for
business owners to offer health insurance to their employees," said Mark D.
Goodman, SAM'S CLUB executive vice president Marketing, Membership and E-
Commerce. "By individualizing the health insurance program for each employee,
ExtendChoice(TM) makes insurance practical and affordable."
Commenting on the ExtendChoice(TM) program for SAM'S CLUB, Bryce A.
Williams, President and CEO of Extend Benefits said, "Our joint focus groups
with SAM'S CLUB resoundingly confirmed the need for a different approach to
offering benefits. The vast majority of employers would like to contribute to
their employees' health care, but the cost and inflexibility of traditional
group-based plans has made it very difficult. With ExtendChoice(TM),
employers will be able to assist their employees with their individual health
care costs while controlling their monthly expense in doing so. An individual
health insurance plan is permanent, portable and owned by the employee,
independent of their job status."
To learn more, visit http://insurance.samsclub.com or
About SAM'S CLUB
SAM'S CLUB (http://www.samsclub.com ), a division of Wal-Mart Stores, Inc.
(NYSE: WMT) is the nation's largest warehouse chain in the United States
serving small business owners and operators. The purchasing agent of choice,
SAM'S CLUB provides every day low cost to more than 47 million entrepreneurs
and consumers nationwide.
About Extend Benefits Group LLC
Extend Benefits Group LLC (http://www.extendbenefits.com ) is the leader
in powering defined contribution health care plans for American corporations
and small businesses. Majority owned by Revolution Health Group LLC
(http://www.revolution.com ) and based in Salt Lake City, Utah, the company
was founded by leading health care and benefits professionals who share the
vision of enabling Americans to own and manage their own health care plan
independent of their employment status.
SOURCE SAM'S CLUB