Insurance & Medical Industry News

If you are paying employees for individual medical insurance premiums, whether through an HRA or direct, it is extremely important that you STOP and read this notice!

Compliance Healthcare Reform Individual Insurance Large Employers Small Employers

Employers that reimburse employees, whether pre- or post-tax, for individual medical insurance through an HRA or direct payment, please be aware that the IRS has posted several notices indicating that this is not an allowed strategy! In general terms, the IRS is granting reprieve for a number of employers through June 30, 2015 to make…

April 17, 2015

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If you have or will have 50 – 99 employees in the near future, don’t skip this portion of the newsletter!

Compliance Healthcare Reform Large Employers Small Employers

Most employers with 50 – 99 employees have become accustomed to ‘composite rating’. This means, there is generally an EE Only, EE+Spouse, EE+Child(ren), EE+Family rate, independent of employee or dependent ages. Be prepared that, very soon, this will no longer be the case and your rates will become more complex. Employers of this size will need…

April 17, 2015

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Blue Shield’s Treatment Cost Estimator

Individual Insurance Large Employers Small Employers

Blue Shield PPO members now have access to a Treatment Cost Estimator. PPO’s provide great choice in medical providers and the ability to go out-of-network if you need to. However, costs for procedures can be difficult to predict. Blue Shield’s Treatment Cost Estimator can help you approximate the cost for important medical services you may…

February 21, 2015

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Archer Norris, A Professional Law Corporation, explains why Life Insurance is an important component of an estate, no matter the size.

Individual Insurance Large Employers Small Employers

As one client of mine said, “I have life insurance because my kids are not high earners. I want to pass them an estate when I die, not loan debt. Not to mention, they may disagree about whether to sell or rent out the houses I own. One may need cash, the other may be…

February 21, 2015

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Employees Want Wellness Programs with Meaningful Incentives

Employee Benefits Large Employers Wellness

Wellness engagement and results data vary dramatically. Some employers who are interested in the concept of implmenting wellness programs but who feel uncertain due to unreliable ROI projections, may be interested to know that employees expect meaningful incentives. The ‘carrot and stick’ approach is a combination that is geared toward the complexity of human behavior.…

February 21, 2015

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Health Insurance Tax Repeal: Will it happen?

Healthcare Reform Individual Insurance

Removing all of the inaccurate coverage, charged language and complicated terminology thrown around surrounding this topic, the simple issue is the tax the Patient Protection and Affordable Care Act (PPACA) places on health insurers and who is really paying that cost. To many, taxing insurance companies may have sounded like a great idea. However, bi-partisan…

February 21, 2015

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Bestefits will hold a ‘State of Health Care Reform’ webcast for small and large employers March 9th

Compliance Healthcare Reform Large Employers Small Employers

Clients and friends of Bestefits will receive a webcast invitation via email for a Health Care Reform presentation that will address the ‘must know’ information for small and large employers. This will include compliance requirements, filing requirements, benefits technology information and software to automate many compliance provisions. This webcast will not be recorded so please…

February 21, 2015

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Employers with 50 or more full-time equivalent employees, begin NOW to make sure you have the information you will need to file Forms 1094-C and 1095-C for large employer PPACA reporting.

Compliance Employee Benefits Healthcare Reform Large Employers

Forms 1094-C and 1095-C will be required of employers with 50 or more full-time equivalent employees. For calendar year 2015, the forms must be filed by February 28, 2016, if paper filing, or March 31, 2016, if filing electronically. Many employers are evaluating software systems now that will track all of the information required for…

February 21, 2015

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Think Health Care Reform only applies to large employers? Think again!: The Cadillac Tax applies to all plans that exceed $10,200 for an individual and $27,500 for a family.

Compliance Healthcare Reform Large Employers Small Employers

Although this tax is set to take place in 2018 and there may be modifications before that time, it is important that employers begin considering its impact now. Many employers are already preparing by making changes to the level of plans they are offering and finding other ways to enhance benefits for employees who will…

February 21, 2015

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