Tags: group health insurance

How A Self-Funded Health Plan Can Work for You

How A Self-Funded Health Plan Can Work for You

Self-funded health plans are becoming an increasingly popular way to provide health benefits to your employees. Self-funded health plans are an alternative to working with a traditional health insurance provider for companies that want to be able to self-manage their employees care. Most often, rather than hiring additional staff to manage the day-to-day workings of the plan, companies will contract with a plan administrator, who will actually work with employees and providers to provide care and make sure claims are evaluated and paid properly and timely. While a self-funded health... Read More

New Group Disability Claim Rules for Employers

New Group Disability Claim Rules for Employers

In January of this year, the Department of Labor (DOL) announced that, as of April 1, 2018, employee benefit plans will be required to comply with new requirements for disability benefit claims. These new rules are in effect now. In 2016, the DOL released a final rule to strengthen the claims and appeals requirements for plans that provide disability benefits and are subject to the Employee Retirement Income Security Act (ERISA). The final rule was scheduled to apply to claims that are filed on or after Jan. 1, 2018. However,... Read More

What Happens If I Miss Open Enrollment?

What Happens If I Miss Open Enrollment

It’s open enrollment time for health insurance and other employee benefits.Open enrollment is the time when you can enroll for the first time in your employer’s health insurance plan, change insurance coverages, and add or remove dependents. This is your opportunity to take advantage of important benefits, such as health, vision, dental and life insurance, a health savings account (HSA), and a retirement plan. If you miss your employer’s open enrollment deadline you could lose coverage for you and your loved ones and  be unable to make changes or enroll... Read More

Considering a Self-Funded Healthplan for Your Company? Here’s What You Need to Know

self-funded v. fully insured healthplans

Are you looking at different options for your company health benefits? Do you want something other than a traditional fully-insured health insurance plan? All group medical benefit plans fall into one of two categories: self-funded or fully insured. The choice of one over the other should not be made arbitrarily. Each type carries its own set of administrative rules and legal constraints.   What is Self-funding? Under a fully-insured health benefit plan, an insurance company assumes the financial and legal risk of loss in exchange for a fixed premium paid... Read More

Boost Employee Benefits with Group Life Insurance

Boost Employee Benefits with Group Life Insurance

Employee benefits are one of the best ways to attract and retain qualified employees. Most employers these days offer at least basic health and dental insurance. There are many additional employee benefit options available to employers, and one of the most requested and most beneficial is group life insurance. This article covers many of the basics of offering group life insurance and some of the employer options for providing it. Types of Life Insurance Life insurance is divided into two categories: term and permanent. Term life insurance has a specified... Read More

The “Tornado” of Single-Payer Healthcare

The “Tornado” of Single-Payer Healthcare

As the healthcare debate continues both in congress and in states throughout the country, many are touting a single-payer healthcare system as the answer to our country’s healthcare and health insurance challenges. A single-payer system is, in essence, government-run healthcare. Instead of choosing coverage from the insurer of your (or your employer’s) choice, you would pay for your health coverage to the government in the form of taxes. This is not a particularly new idea. It has been the norm in many parts of the world. And it was even... Read More

What You Need to Know About Travel Medical Insurance

What You Need to Know About Travel Medical Insurance

Does your health insurance cover you out of the country? If it does, you’re in the minority. Most US health plans do not offer health insurance coverage once you leave the United States. This means if you are injured or become ill while you’re traveling outside of the United States, your trip may suddenly become a lot more costly. But don’t cancel your dream trip around the world just yet. There is a solution. It’s called Travel Medical Insurance. Travel Medical Insurance is for those traveling outside their home country.... Read More

Obamacare Replacement Bills Introduced in Congress

American Health Care Act Introduced in Congress

Republican leadership in the U.S. House of Representatives introduced two bills to repeal and replace the Affordable Care Act (ACA), also known as Obamacare, through the budget reconciliation process. These bills are collectively known as the American Health Care Act. To become law, these bills must go through the legislative process, although a budget reconciliation bill can be passed with a simple majority vote. Debate on the legislation is scheduled to begin on March 8, 2017. Impact On Employers This new act will not entirely repeal ACA, but will make... Read More

Change in Leadership May Signal Changes for Obamacare

Change in Leadership May Signal Changes for Obamacare

With new leadership on the horizon for our country, one thing we can be certain of is change. One of the most talked about and contested changes has been the possibility of changes for Obamacare, more formally known as the Affordable Care Act (ACA). Donald Trump has announced many times that he plans to repeal Obamacare and “replace it with something better.” Just last week Senate Republicans introduced a budget resolution that would allow it to be repealed with a simple Senate majority. There is increasing pressure to vote quickly... Read More

What Every Employee Must Know About Their Group Open Enrollment

What Every Employee Must Know About Their Group Open Enrollment

For the thousands of employees who receive their health insurance through their employers, it’s open enrollment time for health insurance and other benefits. These benefits are very important for employees and their families and it’s essential to have the necessary information to make the right decision regarding next year’s health coverage, as well as other benefits an employer offers. This coverage usually begins about a month or two after open enrollment and is in effect for a full year. Very often coverage will begin January 1 through December 31, though... Read More