Beginning in 2014 and continuing through 2016, employers and other sponsors of self-funded health plans, as well as insurance companies offering insured health plan products are subject to the Affordable Care Act’s transitional reinsurance fee. This fee was designed to fund reinsurance payments to health insurance issuers to cover high-risk individuals in the individual market. [...]
If you’re in an industry with significant turnover and varied work schedules, a Minimum Value Plan may be an affordable way to meet the requirements of the Affordable Care Act. A Minimum Value Plan is one that pays at least 60% of the total allowed cost of benefits expected under the plan. And while a [...]
While there is plenty of discussion about the tax on high cost health plans, the tone has changed somewhat since the CBO said the federal government would forfeit over $80 billion if the tax were repealed. One of the big concerns related to the Cadillac Tax is its impact on benefits that help reduce out-of-pocket [...]
Article seen in CT Viewpoints, written by Tom Swn (CCAG) It is hard to turn on your computer or to check out your evening news without hearing highly paid hospital executives saying that the sky is falling and arguing that they are on the side of consumers. In reviewing the recent filings with state regulators, [...]
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 [...]
Under the Affordable Care Act (ACA), Applicable Large Employers (ALEs) can avoid paying the $2,000 per employee penalty for failing to offer qualifying health coverage by offering full-time employees a Minimum Essential Coverage (MEC) plan. Offering the most basic benefits – MEC plans offer only the most basic level of benefits required under ERISA and [...]
These days change and added regulations are happening at a rapid pace and at Diversified Group, we’re here to help our client employers avoid confusion. That being said, here are a few words of advice we can give that may help you… Don’t Tolerate a Sky-High Renewal – Planning can come to a halt when [...]
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? [...]
