Everything You Need to Know About COBRA in Under 5 Minutes
Have your employees ever asked you for information about COBRA? Have you ever had to spend time trying to explain how it works? Wouldn’t it be nice to have a simple reference you could point them to? Diversified Administration came up with this 5 minute video “Everything You Need to Know about COBRA in Under […]
When does the affordable part of the affordable care act start?
Insurers Plan to Significantly Raise Premiums – Citing huge losses on ACA plans. Continued Disapproval Of ACA – A new survey released by the Pew Research Center found that 54 percent of consumers still disapprove of it. Data show 31 percent of respondents believe the ACA “has had a mostly negative effect on them and […]
2017 ACA Required Contribution Percentages
The required contribution percentages for 2017 used to determine whether individuals are eligible for a premium tax credit and whether individuals are eligible for an affordability exemption from the individual mandate have increased. Premium Tax Credit Eligibility will increase to 9.69% – Percentage is used to determine if an individual is eligible for a premium […]
Wellness: Prevention Pays
The Public Health Institute claims for every $1 spent on workplace wellness programs can save up to $6. Programs can reduce sick leave, medical costs and workers’ comp claims by 25%. A 1% reduction in health risks could save $83 – $103 annually in medical costs per person. Even if the claims are exaggerated threefold […]
Obamacare, Obamaco$t – What you’re not hearing
Here are some headlines you’re nor hearing unless you’re paying really close attention to the ACA (Affordable Care Act), aka Obamacare. 12 failed co-ops which were created under the Affordable Care Act could cost taxpayers $1.2 billion – Four of the remaining co-ops created under the Affordable Care Act are experiencing weak enrollment, which is […]
Up Up and Away – 2017 ACA Cost-Sharing Limits Released
HHS updated the annual limits based on the premium adjustment percentage for 2017. As a result, annual out-of-pocket expenses may not exceed $7,150 for self-only coverage or $14,300 for family coverage in 2017. – Why? It is an attempt to keep the premiums down. – I can hear the moans and groans of open enrollment […]
Wellness Leads to Better Business & Higher Profits
A healthy, thriving workforce makes for a healthier business. Investing in health reduces health care costs, improves productivity. Alternatively, poor health is bad for business. Chronic disease drives health care expenditures, which cuts into productivity and profits. Consider 67% of our workforce is overweight 1 in 4 has heart disease 1 in 3 Americans has […]
The Grandson’s Burden
Sixty-four year-old grandfathers incur nine times more medical expenses than their eighteen year-old grandsons. But under small group ACA adjusted community rating, their health premiums can be no more than three times the cost charged to their second generation progeny, who now pay more to subsidize their forefathers. Female rates have always been within the […]
2016 Benefits Notices
Employers have 14 required notices to provide to employees for review and selection of benefits include certain required notices. Do you know what they are? There are 3 required notices for all group health plans, 9 notices for particular designs and 2 other important notices. States may require additional notices. Think you know the entire […]
Non-Discrimination Rules for Group Health Plans
With all the focus on ACA it’s good to step back and look at other regulations that may help with benefit designs. Many incorrectly think the ACA health insurance requirements is a one-size fits all model. However the ACA non-discrimination requirements have been delayed, indefinitely, and therefore are not a factor. ERISA is the determining […]