VP Marketing & Business Development
The Wilson Agency
By Mick Constantinou, Advisor, Employee Benefits
Connelly, Carlisle, Fields, & Nichols, A UBA Partner Firm
Provisions under the Affordable Care Act allow health insurers to charge smokers 50 percent higher premiums than nonsmokers for new individual policies sold beginning in 2014. The question now is whether the final ruling on the tobacco surcharge will have the teeth necessary to promote healthier lifestyles.
When it comes to group health insurance, it’s easy to make cost the driving factor in your decision making process. However, to truly manage health care expenditures in the long-run, cost is only part of the picture. Employers should factor in compliance with ever-evolving employment laws and regulations (PPACA), employee communication, plan benchmarking and total cost of risk (COR), including:
So how do you make plan decisions more holistically? First of all, you may need more than just a broker. A benefits advisor not only shops for the best rates but also consults on PPACA compliance, COR, employee communication strategies, and more. Not sure if your benefits provider is able to give you this more strategic guidance? Use UBA’s free evaluation toolkit to rate your current or prospective broker/advisor. This five-part toolkit includes the following:
United Benefit Advisors recently celebrated its 10-year anniversary in supporting its Partners’ efforts to provide quality employee benefits advisory services to their clients. With a decade of experience responding to the ever-changing health care industry, UBA understands the biggest pain points facing employers offering health care coverage to their employees.
To commemorate this 10th anniversary, as well as continue its tradition of assisting the nation’s employers, UBA Partner Firms have compiled the top eight questions that every employer should ask their benefits advisor. These questions are based on many years of experience working with large and small businesses, across a range of industries:
Sorting through the bureaucratic language of the recently released Patient Protection and Affordable Care Act (PPACA) is tough enough while simultaneously trying to understand how to proceed in implementing these health care reform provisions.