The Health Reform Act (Patient Protection and Affordable Care Act) will require most U.S. and legal residents to have health insurance. Those that do not carry it will be taxed by the government. The law also requires each state to have a health insurance exchange where people can obtain coverage. People who do not get [...]
The Heath Care reform bill has many components being rolled out over the next 2 years. This includes the creation of state based health exchanges, 4 levels of health plans, a base health plan “Silver” and a number of other factions to be rolled out. Click the link for a summary of all changes.
Health reform [...]
Small groups in Connecticut have access to a method which can lower their overall insurance premiums by up to 25% and can also provide them with a reimbursement of premium at the end of the year. They can achieve these savings without reducing benefits.
The method is called small group alternate funding. Most brokers and employers [...]
Small Group health insurance is an ever increasing cost for employer groups. Most employers and brokers use similar strategies when it comes to managing rate increases. They lower benefits and add cost share to employees which could include higher copays, having employees pay some or all of the rate increase or utilizing a high deductible [...]
New Tax Credit May Help Small Businesses
Small businesses may be able to claim a new credit on their 2010 tax returns if they pay employee insurance premiums in 2010.
The credit, available through the Patient Protection and Affordable Care Act, is intended to:
1.Give small employers a tax break if they pay at least half the cost [...]
Employer Reporting Requirements
Notice of Coverage Options. Not later than March 1, 2013, employers must provide a written notice to newly-hired and current employees informing employees: 1) that healthcare exchanges are available, the services provided by the exchange, and how to contact the exchange; 2) if the employer pays less than 60% of the costs of [...]
Small Group Employers In Connecticut May Want To Consider Alternatives
Group health insurance rates are becoming a greater burden on small employers with every renewal. Double digit rate increases have become the norm. So what can a small employer do to help off-set rate hikes?
Most employers have simply been going by the standard formula of increasing the employees contribution [...]
Medicare Supplement Plans M and N Will Offer Substantially Reduced Premiums