Paramount Insurance Company, licensed in the state of Ohio, is a community-based life insurance company located in Maumee, Ohio.  It offers a variety of health insurance products in a fully funded arrangement, which enables employers to choose the products and options best suited to their company’s needs.

Flexible Managed Care Plans Offer More Freedom of Choice
The Point-of-Service* (POS) products, called Flex and Flex Plus, combine the flexibility of traditional insurance with the cost-saving benefits of managed care.  These plans offer more freedom of physician choice than health maintenance organizations (HMOs), utilizing a gatekeeper model to provide cost savings to employers.  Members have the option to seek care from a participating provider or to “flex” out to a non-network provider.  If a non-network provider is selected, the member pays higher out-of-pocket costs when service is rendered.  Thus, POS plans offer members more freedom of choice while incorporating cost and benefit incentives to encourage members to seek care inside the network.

Even Limited Managed Care Can Save Companies Money
Paramount believes strongly in the benefits of managed care.  However, many companies are not yet ready to give up total freedom of physician choice, even to obtain substantial cost savings.  Like the POS products, Paramount’s preferred provider organization, Paramount Preferred Options, is designed to help employers lower medical costs without fully embracing the concepts of managed care.

Preferred Provider Organization
When employees stay within the Paramount Preferred Options network or the Ohio Health Choice Preferred Health Network, they pay less and enjoy the highest level of benefits. If they choose to obtain services from non-network providers, they pay higher coinsurances, deductibles and out-of-pocket maximums.  Paramount can help large employer groups customize a PPO plan to best meet their needs.

Traditional Plans
The Traditional Plan, an indemnity option, is designed for companies that require health care coverage for employees who live outside Paramount’s service area.  The Traditional Plan provides limited cost-saving benefits and is only sold as a complementary product to the HMO, POS and PPO products.

For more information about Paramount Insurance Company’s products and services, please contact the Marketing Department at 419-887-2806 or toll-free at 1-888-891-9601.

*  The POS products are joint offerings between Paramount Insurance Company and Paramount Health Care.