Allstate Unveils Flexible Healthcare Solutions With Key Partnerships

The Allstate Corporation’s ALL Allstate Health Solutions, a division of ALL, recently teamed up with Intuit QuickBooks, Thatch, and Ambetter Health to make healthcare coverage more flexible. This collaboration introduces Individual Coverage Health Reimbursement Arrangements, offering businesses an innovative way to reimburse employees for individual health plans, tax-free.This move bodes well for Allstate Health Solutions as it will leverage QuickBooks’ payroll subscription services, an efficient platform powered by Thatch, to simplify healthcare administration. Employees can select tailored plans within their employer’s budget, and any leftover budget can be used for medical expenses. Customers using QuickBooks services can access ALL’s Health Solutions group health insurance platform. ALL will be able to reach small and mid-sized businesses using QuickBooks payroll services, adding to its top-line growth in the future.Ambetter Health will also roll out a new product under this collaboration, Ambetter Health Solutions, in select states by 2025. Allstate’s Health and Benefits business premium and contract charges improved 5.2% year over year to $487 million in the third quarter of 2024. Greater enrollment should move this figure upward in the future.This partnership marks a significant step forward for Allstate Health Solutions in addressing the evolving needs of businesses and employees. Streamlined operations and reduced administrative overhead via Thatch ensure cost-efficiency and should boost margins in the future. Moves like this should aid ALL’s Health and Benefits division, whose adjusted net income declined 46.4% year over year in the third quarter.Price PerformanceAllstate shares have gained 15.8% in the past six months compared with the industry’s 12.8% rise.Image Source: Zacks Investment ResearchALL’s Zacks Rank & Other Key PicksALL currently has a Zacks Rank #2 (Buy).Investors interested in the broader Finance space may look at some other top-ranked players like Jackson Financial Inc. JXN, ProAssurance Corporation PRA and WisdomTree, Inc. WT. Jackson Financial and ProAssurance sport a Zacks Rank #1 (Strong Buy), while WisdomeTree carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Jackson Financial’s current-year earnings is pegged at $18.80 per share, which indicates 46.4% year-over-year growth. It witnessed two upward estimate revisions in the past 60 days against no downward movement. The consensus mark for JXN’s current-year revenues suggests a 119.7% surge from a year ago.The Zacks Consensus Estimate for WisdomTree’s 2024 earnings indicates 75.7% year-over-year growth. During the past two months, WT has witnessed three upward estimate revisions against none in the opposite direction. It beat earnings estimates thrice in the past four quarters and met on the other occasion, with an average surprise of 7.3%.The Zacks Consensus Estimate for ProAssurance’s current-year earnings suggests a 571.4% year-over-year improvement. During the past two months, PRA has witnessed two upward estimate revisions against none in the opposite direction. The consensus mark for current-year revenues is pegged at $1.1 billion. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 61.5%.Must-See: Solar Stocks Poised to SkyrocketThe solar industry stands to bounce back as tech companies and the economy transition away from fossil fuels to power the AI boom.Trillions of dollars will be invested in clean energy over the coming years – and analysts predict solar will account for 80% of the renewable energy expansion. This creates an outsized opportunity to profit in the near-term and for years to come. But you have to pick the right stocks to get into.Discover Zacks’ hottest solar stock recommendation FREE.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Allstate Corporation (ALL): Free Stock Analysis Report ProAssurance Corporation (PRA): Free Stock Analysis Report Jackson Financial Inc. (JXN): Free Stock Analysis Report WisdomTree, Inc. (WT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks