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Quad M Solutions Inc. Shareholder Letter by its CEO Pat Dileo Explaining the Economic Significance of Its Recent Joint Ventures PrimeAxess, Inc. and OpenAxess
Quad M Solutions Inc. Shareholder Letter by its CEO Pat Dileo Explaining the Economic Significance of Its Recent Joint Ventures PrimeAxess, Inc. and OpenAxess.
About this update from Quad M Solutions Inc.
[{"type":"text","content":"\n TOM'S RIVER, N.J., Nov. 15, 2019 (GLOBE NEWSWIRE) -- Dear Shareholders: The recent closing of two strategic joint ventures; (JV’s) PrimeAxess, Inc. and OpenAxess, gives our public holding company, Quad M Solutions, Inc., the ability to offer independent contractors, GIG economy workers, small group  employers, and entrepreneurs proven quality health insurance and employee benefit options that offer partially self-funded comprehensive major medical health insurance under Federal ERISA law established in 1974, amended. Since nearly 90% of the nation’s largest employers utilize ERISA self-insurance plans, and nearly 15% of small group employers utilize self-funded insurance plans, they have successfully proven its effectiveness. It is time for entrepreneurs and GIG economy workers, who total nearly 60 million workers, to benefit from self-insurance (self-funded) plan options, too. These plans are designed as cost-effective comprehensive major medical plans to replace fully insured health insurance plan programs. These fully insured plans have seen their premium costs double in the last decade, raising plan deductibles while limiting and reducing individual benefits. The US Labor Department statistics show that employee wages have not kept pace with any of these rate increases and barely keep pace with taxes and inflation. Our program seeks to offer sustainable health insurance plans that provide financial rewards to the insured members for their personal efforts in prevention, wellness, and health outcomes, in contrast to others that penalize all members alike, regardless of their own health conditions.  The immediate cost savings have proven to range from a low of 5% to 10% to as much as 40% to 50% over fully insured health plans. Savings depend on the data received to underwrite the members. PrimeAxess Inc. JV ownership is 51% owned by NuAxess 2, Inc., a wholly owned subsidiary of Quad M Solutions, Inc. and 49% owned by Infiniti HR Inc.  Infiniti HR is one of the US’s leading Professional Employer Organizations (PEO) that services over 50,000 franchisor related employees as their national PEO provider.  Over the past decade, Infiniti HR has witnessed the growing benefit-cost increases experienced by their Franchisor clients while acting as their PEO. These increased costs are also felt by ...