many regulations that rolled out over the past few years since The Affordable Care Act was enacted may leave many businesses struggling to afford proper coverage and benefits for their employees. As an experienced broker I have found that the health insurance market has changed drastically over the years. Every health insurance carrier is unique on how they rate premiums for a corporation. Many companies have been faced with increased premiums, and may find themselves struggling to maintain the added cost. One of the most common solutions is to pass more of the increase onto the employees, which can cause many to feel let down by the benefits being offered to them for their devotion to the company. It is imperative to work with an educated and experienced broker in today’s group medical market. Continue reading →

The U.S. Department of Health and Human Services (HHS) has released a sample employer notice that the federally-facilitated Marketplace and some state-based Health Insurance Marketplaces (Exchanges) will be using as part of the employer notice program. This program requires the Marketplaces to notify employers that one of their employees has been determined eligible to receive advance payments of the Premium Tax Credit, and/or cost-sharing reductions by enrolling in a Marketplace plan. Because these actions may trigger employer penalties under the Affordable Care Act’s (ACA) “pay or play” provisions, an employer appeal request form has been provided by HHS. Continue reading →

Advisers are finding more and more employers interested in cost saving options for medical plan offerings with the new ACA mandates. Many brokers are advising high deductible health plans because of the lower monthly cost. Is there a gap in coverage from offering these seemingly inexpensive options? Many employees are satisfied with the monthly savings at first until they have a trip to the emergency room or find out they need surgery. Continue reading →