ACA Recap – Employer Checklist (Part 3 of 5): Compliant Plans
What is a Minimum Value Plan? Coverage that has an actuarial value (AV) of at least 60%. AV is the plan’s share of the total allowed cost of benefits provided to an enrolled individual Example, if a plan has an AV of 60% then the individual is theoretically responsible for 40% of the costs for all […]
ACA Recap – Employer Checklist (Part 2 of 5): Affordability
ACA Employer Responsibility Affordable Coverage Requirement Companies are only required to offer at least one medical plan that meets the “affordability” requirement (at the employee-only coverage level). Regulatory guidance allows companies to calculate affordability based on the employee’s income, using one of three IRS safe harbors. The Safe Harbors are: 9.5% of W-2 wages from […]
ACA Recap – Employer Checklist (Part 1 of 5): Accessibility
ACA Employer Responsibility: “Pay or Play” (Delay Announced) Large Employer Subject to “Pay” if they do not “Play” – Starting in 2015, applies to employers with 100 or more FTEs (Full Time Equivalents) Offer Minimum Essential Health Care to 70% of employees effective on the start of the plan year beginning on or after January […]
The best employee absences are the ones that never happen
A 2012 study showed half (48%) of a company’s employees experience business or personal legal-related issues each year, spending an average of 51 hours to resolve them. Compared to the average, these employees: Are absent five times more Use medical benefits four times more Use sick leave twice as often A range of employee assistance services […]
Medical Tourism
The Medical Tourism Association is helping employers and hospitals connect with companies to save millions in medical expenses. It’s popularity will grow as healthcare reform (Obamacare) is expected to create backlogs for medical services. Medical tourism (MT) is the patient travelling from highly developed nations to other areas of the world for medical care, usually […]
The Eyes, a Window to Health – Part 2
Employers and employees aren’t seeing the health and productivity boosts that would be possible if more employees took advantage of their vision benefit, especially in an aging workforce. According to Transitions Optical, Inc., nearly half of employees aren’t taking advantage of their vision benefit, by either not enrolling (24%) or by not using their benefit […]
The Eyes, a Window to Health – Part 1
The eyes are the only place in your whole body that offer a clear view of the blood vessels, without invasive techniques. That’s why with every exam, an eye doctor can gain deeper insight into a patient’s overall health and wellness. Vision disorders account for more than $8 billion in lost productivity every year. However, […]
Useful App – Healthspek (Personal & Family Health Record)
Healthspek is your own personal health record. And your family’s too as you can add each family member for a complete record. Healthspek allows users to see their own personal health care information. The home screen is the customizable ‘myDashboard’. – Select any member to track their conditions, refill meds, track lab results, record immunizations, […]
National Flood Insurance Program Provides Crystal Ball into Obamacare
The National Flood Insurance Program (NFIP) is in deep financial trouble. Rates have not been calculated based on sound actuarial principals. – The solution (according to FEMA), stop subsidizing premiums on flood-prone properties that file the kind of large claims — sometimes repeatedly — that have left the National Flood Insurance Program in the red. […]
Healthcare Reform Update – ‘Pay or Play’ Delayed Until 2016
Large employers with fewer than 100 Full-Time Employees got some good news. The rules for employers with at least 50 full-time employees provide transition relief with respect to all of 2015 and, for non-calendar plan years that begin in 2015, for the portion of that 2015 plan year that falls in 2016. Key points to […]