Healthcare plans

Insurance carriers are proposing a series of solutions to make the ACA exchanges more consumer-friendly, but not all brokers and agents agree with the ideas.

The state of Massachusetts officially repealed the employer pay-or-play regulations that were part of its landmark 2006 health care reform law. Similar to the employer mandate in the Affordable Care Act, the state statute required employers of a certain size to either offer health care coverage to their employees or pay a fine.

The harsh reality for a couple retiring at age 65 this year is that they will need a small fortune just to cover their medical expenses in retirement.

Estimated enrollment is three times the number consultancy predicted last year.

Although a vast majority of employers plan to continue providing health care benefits for their employees, many are taking drastic action to mitigate the health care reform law’s financial effects on their benefit strategies.

CMS has granted 18 states a delay in enacting employee choice on the SHOP exchange, which some advisers feel is the only incentive for employers to enroll on the exchange at all.

The emergence of public and private health insurance exchanges, as well as the ongoing shift toward placing more responsibility on workers for health plan decisions, is creating a new normal for employers and employees alike.

Potentially a result of complaints from consumers and increased competition on the ACA exchanges, benefit brokers may be pleased to find more options on the 2015 plans.

Employers in Southeast Michigan have projected an increase in health care costs this year. Still, to retain talent, businesses say they intend to continue offering health benefits to full-time employees, despite price increases resulting from the ACA.

Most people wouldn't buy a car without shopping around and doing some online research first. You’d think that people would show similar interest when shopping for health insurance.

Millions of ACA application inconsistencies come as no surprise to benefit advisers and could trigger an influx of business to brokers from confused 2015 ACA enrollees.

CMS says benefit brokers and advisers are expected to be able to enroll their small business clients on the federal SHOP exchange online by sometime later this year.

Given that hospital charges currently represent about a third of the $2.7 trillion annual U.S. health care bill, employers may want to consider offering hospital indemnity insurance as a voluntary benefit. When an employer is reviewing these plans, there are several important features to look for.

Benefit advisers are poised to close the gap between employers’ need to control health costs and comply with the health law and employees’ lack of interest in taking ownership of their health care choices.

Benefit insiders predict a steep decline in small business group health insurance sales in the coming years, which could prove harmful for many independent brokers and agents.

Benefit advisers can advise their clients on a recent court case that confirms ERISA penalties will ensue for plan administrators that fail to provide plan documents when requested by a plan participant or plan sponsor.

The IRS this month clarified for benefit advisers and their clients that employers cannot escape ACA penalties and taxes via pre-tax premium reimbursement plans.

Benefit broker compensation problems, an existing health law and a tough exchange board have forced advisers in this state to take a backseat to the implementation of Obamacare.

If your wellness program consists of a health risk assessment and nothing else, you may be missing the bigger picture. While the tools can yield important information, they may ignore broader factors in employees’ lives that are influencing the unhealthy behavior.

Evidence shows that more insurers bring down premiums on the ACA exchanges, which could ease conversations benefit brokers have with the uninsured about affordability of coverage.