Healthcare

Commentary: Guest blogger Rich Fahn, a small business-focused benefit broker, gives advice for the challenging conversations brokers will have to have with many small groups as premium hikes are mounting.

Helping employers with benefits education is often cited as a key advantage of private health care exchanges, and while educating employees on their benefit choices was noted as a top challenge in a recent employer survey, only 2% of those surveyed have opted for a private exchange.

Commentary: Columnist Jack Kwicien notes that the future for benefits brokerages is unpredictable and tough, so one survival strategy might just be the private exchange.

While many in the industry think voluntary sales is a no-brainer for benefit advisers and employees alike, there's one type of product that hasn't seen a boost thanks to the ACA.

Average contribution rates for small business retirement accounts have continued to climb since the recession – with an 18% increase since last year and 88% over the past six years, according to a Fidelity Investments analysis of more than 200,000 401(k)-type and individual retirement account plan options under its administration.

The self-insurance option for small businesses doesn’t seem to be as popular for managing ACA costs and mandates as some in the industry once thought.

This insurance rule, referring to the grouping of companies owned by the same person, hasn’t applied to medical coverage until now. One broker is concerned that benefit advisers and small business owners alike aren’t up to speed on this requirement and could be vulnerable to liabilities via penalties and lawsuits.

Many employers have yet to update their work policies to reflect the 90-day waiting period rule, a possible landmine for employee confusion and lawsuits.

Higher consumer spending on health services, increased prescriptions for costly medications and more elective surgeries suggests Americans are using the insurance they gained under Obamacare.

How many individuals and families that selected a health plan in the federally facilitated health insurance marketplace have paid their first month’s premium? Depends on whom you ask.