It’s been awhile since I’ve written a blog with regards to, well heck, anything! I probably get at least 10 emails everyday with the newest interpretation of Health Care Reform or ACA (Affordable Care Act) which has been upon us for over a year. I decided that it’s time to make sure my clients understand the basics.
Some requirements of the ACA happened in 2012 and some things happened in 2013, but the biggest piece of the ACA will happen next year.
Here is a You Tube video as a reminder of the different pieces to the ACA.
There are two “must do” items that need to be done immediately. I’ll send out more information shortly about the other upcoming issues.
- Summary of Benefits and Coverage (SBCs). This document is always included with your renewal package from the insurance carrier, or they will instruct you where to go to download the form from the carrier website. You must distribute this form at least 30 days prior to your plan’s renewal. If you decide to change plan design or change carriers, you must provide this form to employees at least 30 days prior to the plan effective date. You should also be able to document that the SBC’s were sent to each employee.
- You must provide a letter from the Department of Labor that explains how the exchanges work. You can down load the letter here DOL letter FLSA with plans. There is also a letter for employers that do not offer health insurance and I have that as well should anyone need it.
That’s it for this issue. Oh, by the way, the rumor is that the Department of Labor (DOL) plans to audit EVERY employer over the next Five years!
Okay, I admit it, insurance is boring! There, now I’ve said it. Not that there aren’t many topics as far as insurance is concerned, but let’s face it, it’s kind of dull. Is that bad to admit? Read the rest of this entry »
Health Care Reform has finally made at least one insurance carrier stand up and say “We Do Care”. At least that’s the way I see it and all we need is just one insurance company to step up to the plate. Once one carrier takes a stand maybe others will follow.
Health Care Reform and Controlling Health Care costs can come in many forms. Do you ever find yourself lost and overwhelmed with work? Maybe you find email and the internet and social networking a little overwhelming. You are not alone! Read the rest of this entry »
Health Care Reform and the ACO might be an answer to keeping costs under control at least somewhat. ACO is the acronym for Accountable Care Organization, which despite the name is not another government agency.
Once upon a time a new leader was elected. The new leader wanted to make sure everyone was covered for health insurance and put together a group that created a plan to cover pretty much every one in the kingdom (aka Health Care Reform). The plan had great ideas to keep the people healthy with preventive care and to eliminate life time maximums so that no one would be cut off from insurance if they had big health issues. But the people who put the plan together forgot about how to control costs other than making the insurance companies keep their costs low with medical loss ratios. Read the rest of this entry »
Health Care Reform cost is still quite the topic of the day. I read an article in the Contra Costa Times this last Sunday by Tom Barnidge titled “A Dose of reality on health Care“. The article quoted a fellow insurance broker, Colleen Callahan, who was quite surprised when she read a commentary from Rep. George Miller, D-Martinez, who touted how great the federal Health Care Reform bill is that he supported.