Consolidated Health Plans Adds New Products

SPRINGFIELD — Consolidated Health Plans (CHP), a third-party administrator, is adding three new insurance products that will create 30 additional jobs and generate $25 million in annual sales the first year and grow to more than $40 million within three years, according to CHP president and founder Kevin Saremi.

One product, CashPlan, is a suite of four ‘mini-medical plans.’ Mini-medical plans are low-cost insurance plans with limited catastrophic benefits that fit the budgets of cost-conscious employers. Mini-medical plans function like prepaid, discounted medical care that workers expect to use, such as doctor visits and prescription drugs. The mini-medical plans sold by CHP cost as little as $40 per month for a single plan and $82 per month for family coverage. In Massachusetts, any employer with more than 50 workers can offer the mini-medical plans. Consolidated Health Plans lets them choose from a Base Plan, a Standard Plan, a Select Plan, and a Premier Plan.

CHP’s second new product, called Nationwide Select, is a low-cost stand-alone prescription plan for small to mid-sized businesses, even those without a health plan. The plan offers affordable premiums that are up to 50{06cf2b9696b159f874511d23dbc893eb1ac83014175ed30550cfff22781411e5} less than traditional plans. The savings result from low co-pays to encourage the use of generic drugs and the ease and economy of mail-order delivery. Brand and specialty drugs are also available at discounted prices, and the plan includes a large pharmacy network as well.

The affordable prescription plan is approved in 33 states and will be marketed regionally in the coming months. The third new product, called GrouProtector™, offers group accident medical insurance for participants of a wide range of groups, activities and events such as amateur sports teams and leagues, volunteer and auxiliary firefighters, police and emergency responders, and camps, conferences, child care facilities, and special events such as weddings and festivals. For more information, visit www.consolidatedhealthplan.com