Silver-loading
Silver-loading refers to health insurers loading premium increases on the popular silver-level exchange plans to make up for the loss of Cost Sharing Reduction (CSR) payments. Loading premium surcharges onto silver plans boosted the size of the premium tax credits available to people with incomes below 400% of the federal poverty level. – The Trump […]
E-cigarettes: an effective quit smoking aid?
This may seem like a common sense Q&A. However, with the increasing popularity among younger employees you might want to arm yourself with solid stats and a good non-smoking educational program. Part of the appeal is pod vapes look like a sleek high tech. Users try pod vapes because of the flavors. Problem is with […]
2020 Cost Sharing Limits
Out-of-pocket expenses may not exceed $8,150 for self-only coverage or $16,300 for family coverage in 2020. – Ouch! Employers will need creative solutions to help employees afford these limits. Hint: EBA can help. Employee Benefit Advisors provides employee benefits, tax-advantaged healthcare, compliance guidance for ACA and Health & Welfare DOL Audits, and PEO Advisory & Consulting Services.
AHPs are out – For Now
A federal judge has ruled that two parts of the Department of Labor (DOL) rule expanding employers’ ability to join in Association Health Plans (AHPs) violate ERISA. The DOL AHP rule was formed to allow employers to band together to create health plans based on industry or geography. The federal court opinion stated that the rule was […]
Telemedicine – Impact your health care costs
Group health insurance premium are expected to rise 15-18% in 2019 and Telemedicine can be an important cost containment tool, for both employer and employee. In a study of 17,000 telemedicine participants, hospital admissions dropped by 30% and doctor visits were reduced by 60%, for a savings of 45% in unnecessary doctor and emergency room […]
Group health insurance premiums to rise by 15-18% in 2019
Actuaries are predicting group health insurance premiums to increase 15-18 percent increase in 2019 due to a rise in health inflation. Medical inflation is in the range of 18-24 percent across the country due to a rise in costs for medicines, medical equipment and hospitalization. Inevitably this will lead to a direct impact on the […]
2019 ACA deadline dates for 2018 reporting
February 1, 2019 Employers start receiving 2018 tax year exchange notices February 28, 2019 Deadline to file 1094-C/1095-C schedules if paper filing March 4, 2019 (Previously January 31,2019) IRS deadline to furnish 1095-C schedules for 2018 employees April 1, 2019 Deadline to file 1094-C/1095-C schedules if electronic filing April 15, 2019 […]
IRS Guidelines – Indexed for 2019
FICA Social Security Tax is 6.2% on income up to $132,900 up from $ 128,400 Medicare Tax unlimited 1.45% to Unlimited High Deductible Health Plans Minimum Annual Deductible (Individual/Family) $1,350 / $2,700 Maximum Out-of-Pocket Limit (Individual/Family) $6,750 / $13,500 Health Savings Accounts Individual / Family $3,500 / $7,000 Catch-up Contribution $1,000 ACA Plan Limits Out-of-Pocket Limits […]
Become a Mountain Man – A worthwhile New Years Resolution!
We can learn a lot from Mountain Men. Like taking the time to sharpen our saw. The saw is like business operations. If you don’t take time to sharpen your methods and skills it could dramatically affect your business. Don’t be so focused on current day activities they don’t take time to evaluate operations to […]
Why do hackers want your health care data?
Health care information has a much longer shelf-life than other targets like credit cards, which become useless once a consumer gets a new card. Medical and insurance information has value for years. Employers, if an employee is hacked that employee will be totally engaged restoring their accounts. Employee Benefit Advisors strongly recommends offering Credit/Identity Monitoring […]