Recently, UBA Partner Mike Humphrey, Senior Benefits Advisor at The Wilson Agency, shared some great insights for those who are considering doing a dependent audit. He points out three reasons why you shouldn’t do these audits and offers a much better approach to reining in costs associated with covering dependents that should no longer be on your plan. Humphrey’s long tenure counseling large employers shows once again that sometimes quick-fix solutions for eliminating wasteful spending aren’t worth it in the end, no matter how well intended. Instead, simple changes to the up front enrollment process can avoid a lot of headaches and keep costs in line.
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business,
dependents,
dependent insurance,
family insurance benefits
(This is the third article of a three-part series. Read Part One here and Part Two here.)
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business
(This is the second article of a three-part series. Read Part One here.)
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business
Part 1 (the first article of a three-part series)
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business
In order for the IRS to verify that individuals and employers are meeting their shared responsibility obligations, and that individuals who request premium tax credits are entitled to them, employers and insurers will be required to provide reporting on the health coverage they offer. Reporting will first be due early in 2016, based on coverage in 2015.
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business
By Stephen Coffman, Group Practice Leader
The Guardian Life Insurance Company of America
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Topics:
health care reform,
employee benefits,
health care,
health care costs,
employee satisfaction,
hr consulting,
employee engagement,
wellness,
ancillary benefits,
absence management,
disability management,
absenteeism,
UBA Partner Firm,
voluntary benefits,
ACA,
employee health,
insurance solutions,
medical plan,
self funded health plans,
disability insurance,
wellness programs
PPACA brings numerous responsibilities and options to employers. Below is a summary of the PPACA provisions that apply to group health plans and whether the provision applies to insured small group plans (50 or fewer employees) provided inside and outside the SHOP exchange.
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business,
SHOP,
small business health options program
As was the case last year, insurers with medical loss ratios (MLRs) that were below the prescribed levels on their blocks of business must issue rebates to policyholders. The MLR threshold for large groups is 85%, and the threshold for small group and individual policies is 80%. The MLR ratio is based on the insurer’s block of business in the state, and not on the specific policy’s claims experience and administrative costs. Insurers must pay rebates owed on calendar year 2013 results by August 1, 2014. The rules for calculating and distributing these rebates are essentially the same this year as they were last year.
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business
As employers determine their plan designs for the coming year, those with grandfathered status need to decide if maintaining grandfathered status is their best option. Following are some frequently asked questions, and answers, about grandfathering a group health plan.
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Topics:
PPACA,
health insurance exchanges,
employee wellness,
retirement,
health marketplace,
small group employers,
Group health plans,
private insurance exchange,
benefit communication,
benefit consultants,
benefit management,
compliance with health care reform,
employee health,
group health insurance,
healthcare consumerism,
health plan compliance,
health reimbursement account,
insurance solutions,
medical plan,
self funded health plans,
small business,
grandfathered plan,
health insurance policy,
health benefits
