By Linda Rowings
Chief Compliance Officer
United Benefit Advisors
By Mick Constantinou, Advisor, Employee Benefits
Connelly, Carlisle, Fields, & Nichols, A UBA Partner Firm
Here’s a quick article excerpt:
“Edington believes wellness programs can't save enough in healthcare costs to make a difference – ‘maybe $200 to $300, at best’ – but he thinks a wellness program can create shareholder value.
With all of the Patient Protection and Affordable Care Act (PPACA) regulations, the last thing employers want to do is worry about requirements that don’t apply. One particular regulation that doesn’t necessarily concern employers is the individual responsibility requirement (also know as the individual mandate).
And although the employer shared responsibility requirements have been delayed to 2015, the individual responsibility requirement is still scheduled to take effect in 2014. Under the individual mandate, most people residing in the U.S. will be required to have minimum essential coverage, or they will have to pay a penalty. Many individuals will be eligible for financial assistance, through premium tax credits (also known as premium subsidies), to help them purchase coverage if they buy coverage through the health insurance marketplace (also known as the exchange).
As the complexities of the Patient Protection and Affordable Care Act (PPACA) continue to challenge business owners and HR professionals, UBA continues to lead the industry by sharing proprietary research and analysis, often utilized by journalists and media outlets looking to help employers and consumers navigate the increasingly complex world of insurance benefits.