5 Quick Ways to Cut Your Benefits Costs Now

By Ann / June 24, 2020 / Comments Off on 5 Quick Ways to Cut Your Benefits Costs Now

There is no playbook for what businesses are going through right now, and the companies that will survive are the ones willing to adapt.  As increasing insurance costs gobble up more profits each year, now is a perfect time to reexamine your employee benefits program to ensure your company is not overpaying for health insurance. …

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Will Healthcare Transparency Reduce Costs?

By Ann / November 20, 2019 / Comments Off on Will Healthcare Transparency Reduce Costs?

A client we work with found out she was pregnant (yay!) and was trying to determine a ballpark figure of what her pregnancy and delivery was going to cost her. She called the hospital and doctor.  “I’m sorry, we don’t know that information” was the reply.  Come on, generally what does a normal delivery cost…

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COBRA continuation – not just for the terminated employee

By Ann / October 16, 2019 / Comments Off on COBRA continuation – not just for the terminated employee

Say an employee is on workers comp, had health insurance as an active employee and has been out longer than 3 months, should he be offered COBRA?  This was a question we fielded from one of our employer clients inquiring for a friend employed elsewhere.

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Employer Pay-or-Play Penalties still apply for 2020

By Ann / October 9, 2019 / Comments Off on Employer Pay-or-Play Penalties still apply for 2020

The IRS recently confirmed that the Affordable Care Act (ACA) employer pay-or-play penalties still apply even though individuals no longer are penalized for not having health insurance. The individual penalty was eliminated after 2018. Thus, if you are an applicable large employer (i.e. have 50 or more full-time equivalent employees), you are required to offer…

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The Secret to Winning the Benefits Compliance Game

By Ann / July 16, 2019 / Comments Off on The Secret to Winning the Benefits Compliance Game

I was watching a baseball game the other night and wondered what chaos would ensue if there were no rules.  Strike Three, you’re NOT yet out! Could you imagine?

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Here’s a Method That Helps Employees Reduce Their Out-of-Pocket Costs

By Ann / May 29, 2019 / Comments Off on Here’s a Method That Helps Employees Reduce Their Out-of-Pocket Costs

You cheer as your little star athlete sprints down the soccer field; dribbling left, cutting right, victory is almost yours, then Boom!  A circle forms. Your kid is clenching his leg.  Doesn’t look good; it isn’t.

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A Quick Way to Ease Your Workload

By Ann / April 3, 2019 / Comments Off on A Quick Way to Ease Your Workload

I just got my taxes done.  I had been using an accountant for many years, but last year I decided to prepare my own tax returns to save a little money. Needless to say, I’m back with the accountant.

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Stop Your Losses with Stop-Loss Reinsurance

By Ann / March 12, 2019 / Comments Off on Stop Your Losses with Stop-Loss Reinsurance

Employers who self-fund their health insurance can dramatically reduce their costs versus paying an insurance company fully-insured premium; however, taking on 100% of the claims risk isn’t financially practicable.  That’s where stop-loss reinsurance protection comes in.

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How to Save a Bundle by Unbundling Your Health Insurance Plan

By Ann / March 5, 2019 / Comments Off on How to Save a Bundle by Unbundling Your Health Insurance Plan

The term “self-funding” scares many employers as there is the assumption that 100% of the claims cost falls on the employer.  Not so.  A better term is that the plan is “partially self-funded” where the insurance company takes on the risk of the unforeseen large claims, while the employer takes on the risk of the…

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Are You Still Enrolling Employees by Hand? Why it’s time to go paperless.

By Ann / February 12, 2019 / Comments Off on Are You Still Enrolling Employees by Hand? Why it’s time to go paperless.

“Enrolling employees by hand” sounds worse than “paper-based benefits enrollment,” but it’s the same thing; a laborious process that creates a major time-suck for the employer and the employee.

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