Fueled by an influx of expensive prescription drugs, group health insurance premiums are expected to increase an average of 5% to 8% in 2016. Continue reading
Millions of Americans could lose their insurance if the U.S. Supreme Court rules against President Barack Obama on his healthcare law. And with the decision due in the next two weeks, the government has no backup plan. Continue reading
Cost savings, better access to care, immediate triaging of injuries and faster claims closings are just some of the benefits of telemedicine, according to workers’ compensation experts, who also say its use is growing.
Telemedicine could potentially deliver more than $6 billion a year in health care savings to U.S. companies, but only if the technology is widely-adopted, according to a 2014 report by Towers Watson. Continue reading
As a small business owner, there are dozens of ways to measure success. Success is launching new ideas, profits earned, and contributions to the community and industry. But perhaps the most central among these is the impact small business owners have on the lives of employees. Continue reading
Federal regulations prohibit businesses from paying directly for employee’s individual health insurance premiums, outside of a Section 105 Medical Reimbursement Plan (e.g. a Health Reimbursement Arrangement or Healthcare Reimbursement Plan), or other IRS/HIPAA/ERISA-qualified tax-free vehicle (e.g. Section 125). Continue reading
Modified Adjusted Gross Income, or MAGI, is a measure used by the IRS to determine eligibility for certain deductions, credits (including premium tax credits), or retirement plans.
Although the term MAGI is frequently used, few small business owners understand what it is, how it’s used, or how to calculate it. In this article, we’ll provide four surprisingly simple tips for understanding MAGI. Continue reading
The overwhelming majority of individuals who enrolled in plans offered through public health insurance exchanges during the 2015 open season have paid their premiums and still have active coverage, the U.S. Department of Health and Human Services said Tuesday.
As of March 31, 10.2 million of the 11.7 million Americans who opted for coverage, or just over 87%, paid premiums for their first month of coverage or still have time to pay the premium under exchange grace periods. Continue reading
Because of the implications of the Patient Protection and Affordable Care Act, voluntary benefits are getting plenty of attention as employers examine how they can adjust their offerings. But they’re also starting to realize that benefits packages, including voluntary benefits, could help with retaining and recruiting employees in addition to softening the blows that could accompany health care reform Continue reading
