While we are awaiting an announcement from the IRS, the cap put on allowable employee contributions to Flexible Spending Accounts is expected to increase by $50. The cap index, which is based on the medical component of the consumer price index, did not increase last year. Inflation has been high enough to support an increase [...]
The rising cost of employee healthcare has more small employer groups choosing level funding over their traditional fully-insured health plans. What are the advantages of this option for your small business? Cost Control and Opportunity for Savings Level funding is a form of partial self-funding that enables the employer to budget for monthly expenses while [...]
The article below is from The Hill, written by Peter Sullivan Source: © Greg Nash The IRS says it will not reject tax forms from people who fail to answer whether they had health insurance, a sign of loosening up on enforcement of ObamaCare’s individual mandate. Tax forms ask people whether they had [...]
The Centers for Medicare and Medicaid Services (CMS) began their initiative to tie payments to quality or value earlier this year by implementing their Comprehensive Care Joint Replacement Model (CJR). The mandatory program holds hospitals accountable for all costs, processes and outcomes associated with hip and knee replacements performed on Medicare patients. Since hip and [...]
Promote our online portal and My Benefits mobile app to your plan participants TODAY! Diversified Group puts benefits information right at your members' fingertips with our Online Portal: Download forms, view claims, plan docs & more View, print, email and request an ID card Grant access to other covered participants Find providers, manage prescriptions & [...]
A study by the Feinberg School of Medicine at Northwestern University shows that despite the Affordable Care Act taking effect, emergency room visits in Illinois increased by nearly 6% during 2014 and 2015. While the number of visits by uninsured people dropped after Obamacare took effect, the decrease was not sufficient to offset the increase [...]
The article below is from BenefitsPRO, titled “10 weird HSA FAQs,” by Whitney Richard Johnson. Health savings accounts help employees sock away money for health care costs. They’re used along with a high deductible health insurance plan, and they offer some great tax benefits. Contributions made to HSAs lower one’s taxable income, and payments made [...]
When Congress delayed the Cadillac Tax until 2020, the same law placed a one-year moratorium on the annual fee the ACA imposes on health insurance carriers. While the fee does not have a direct impact on TPAs or self-funded plans, it does sometimes impact stop loss premiums. Since this fee applied to insurance carriers and [...]
Diversified Group offers RealTimeChoices – an app accessible via website or mobile device that allows plan members to shop for and identify fair prices for healthcare services they need. This healthcare cost transparency tool also lets plan members find doctors or providers in their local area who offer that service along with quality ratings and patient [...]
When it comes to improving the health and well-being of your employees, it’s easy to get caught up in trying to be super creative or search for that magic bullet that automatically boosts engagement and changes behavior. If only it were that easy! Like any other important business initiative, worksite wellness and health management must [...]
