In fact, most studies indicate losses are twice as powerful, psychologically, as gains. People are highly motivated to avoid what they consider a loss.
Have you ever tried to make sense of health care bills after a serious illness? Did you fantasize about marching into your insurance company president’s office, handing him or her a box full of EOBs and demanding a real explanation of your benefits?
Article as seen in HM Stop Loss News November 2016 One of the most important success factors in self-funding is the service provided by the third party administrator (TPA). Since most employers do not have the expertise or the time to handle the day-to-day management of their health benefits programs, contracting a TPA for the [...]
Article as seen in KHN (Kaiser Health News) on November 9, 2016 written by Julie Rovner After six controversial years, the Affordable Care Act, aka Obamacare, may be on the way out, thanks to the GOP sweep of the presidency and both houses of Congress Tuesday. “There’s no question Obamacare is dead,” said insurance industry [...]
The May, 2016 issue of The Self-Insurer magazine, Outside the Beltway article discusses how various states - and agencies within states - are challenging self-insured plans through claims tax schemes, limits on stop-loss insurance, demands for propriety data and other burdens. Brooks Goodison, President of Diversified Group, contributed insight, citing specific examples of state burdens [...]
With so much information flying around on the Affordable Care Act, it can be a challenge to determine what is correct. In an effort to clear up ACA confusion, here are a few facts that you may have seen misstated. Fiction: The out-of-pocket limits applicable to qualified high deductible health plans are the same as [...]
For decades, employers determined to get a handle on runaway health care costs have compared self-funding to their traditional fully insured plans. Many who have made the move have discovered that the opportunity for savings is just one advantage. Others include flexibility in plan design, access to plan and utilization data and the ability to [...]
Employers with 50 or more employees are required to provide their full-time workers with access to Minimal Essential Coverage under the Affordable Care Act (ACA). The mandate is intended to ensure that employees have the opportunity to enroll in an employer-sponsored plan that is both affordable AND comprehensive. The government has established two tests to [...]
The Affordable Care Act (ACA) continues to have a major impact on ongoing overhead costs – with associated expenses expected to rise more than a quarter of a trillion dollars between 2014 and 2022. These are costs that are over and above anticipated administrative expenses had ObamaCare not been enacted. Where is this money going? [...]
One of the mandates of the Affordable Care Act is that employers pay a 40% excise tax on the value of high-cost health plans – the ‘Cadillac Tax’. Scheduled for implementation beginning 2018, the tax is calculated as 40% of the excess of total per employee per year (PEPY) health care costs above threshold limits [...]