Disability insurance is one of the most overlooked of all employee benefit plans. Think about it: who wants to think they are at risk for becoming disabled? In normal times, this happens more often than we would like to think. Today, in the unusual circumstances of the COVID-19 pandemic that we find ourselves in, it is more important than ever for your employees. As a reminder, disability insurance is income protection in case of disability due to accident or illness. To put it simply, … [Read more...] about Why Employers Should Consider Adding Short-Term Disability During COVID-19 Pandemic
Ed Gussio
Free Powerful HR, Employee Benefits Technology Available
Let’s face it: All businesses want to simplify HR, payroll and benefits. After all, human resources really means “HUMAN” resources – hiring, training and managing the people factor of a business. Until recently, businesses that wanted a fully integrated HR, payroll and employee benefit technology solution migrated to national payroll companies that offered these bundled services in expensive products. Many were also sold as professional employer organization (PEO) contracts that offered … [Read more...] about Free Powerful HR, Employee Benefits Technology Available
How to Conduct Effective Open Enrollment Meetings with Social Distancing
I am sure employee benefit open enrollment meetings are far from most HR/business owners’ top priority during these incredibly challenging times. However, employee benefit renewals are still an important yearly event and the recent “shelter in place” requirement is likely to disrupt the way you typically run them. With a little forethought, planning and easily accessible technology, open enrollment can continue without a hitch. Here are a few suggestions. Communicate with … [Read more...] about How to Conduct Effective Open Enrollment Meetings with Social Distancing
Understanding Medicare Health Plan Rules
As more and more older Americans stay in the workforce, employers may have questions about how employees’ Medicare entitlement impacts their group health plan coverage. Employers sponsoring group health plans that cover individuals enrolled in Medicare should understand the rules below. Medicare’s coordination of benefits rules, which determine whether the group health plan or Medicare pays first on claims is fairly straightforward. If an employer has 20 or more employees, its group health plan … [Read more...] about Understanding Medicare Health Plan Rules
Innovative Health Plans Delivering Big Benefits
As we approach the time when many employers start preparing for their upcoming renewal, there are a couple of options that are frequently overlooked. Traditional plans are fully insured, meaning that the health insurance company takes all risk for claim and administration expenses. As an alternative, partially self-funded plans can often provide lower rates without extraordinary risk. Partially Self-Funded Plans There are many TPAs (third party administrators) and insurance carriers, … [Read more...] about Innovative Health Plans Delivering Big Benefits
Reviewing How Healthcare Costs, Coverage Have Changed
Every year, The Kaiser Foundation completes an extensive national survey of Employer Health Benefits. As healthcare had changed dramatically over the past 10 years, it provides some really good information, historical references and even some surprising statistics. Remember, these are national statistics. Premiums and Employer Contributions In 2017, the average single premiums for employer-based health insurance were $6,690; up 4 percent from 2016. Average family premiums … [Read more...] about Reviewing How Healthcare Costs, Coverage Have Changed
Understanding Strategic Employee Benefit Offerings
Often, when your renewal comes in, more time is spent evaluating alternative carriers using the current plans than looking into creative multiple plan options to meet the needs of both the employer and its employees. Let’s look at some ideas to consider well before your next renewal. It is very common today for health insurance companies to allow employers to choose up to three different health plan designs. Have you ever looked closely at all of the options on your renewal letter? There … [Read more...] about Understanding Strategic Employee Benefit Offerings
Make This Year’s Open Enrollment Count
A recent CNBC article noted that less than 10 percent of employees update their benefits during annual enrollment. (cnbc.com/2017/10/19/90-percent-of-workers-could-botch-their-benefits-picks.html) This is disappointing considering the amount of time and money that employers spend to provide valuable employee benefit options for their team. Whether you have five or 500 employees, let’s look at some potential ways to improve the communication and enrollment process for a successful enrollment … [Read more...] about Make This Year’s Open Enrollment Count
Looking Ahead with a 2017 Health Insurance Marketplace Preview
During the past 60 days, insurance carriers have had to show their cards in terms of what they will and will not be offering during the annual open enrollment for marketplace individual coverage for next year. Open enrollment for Affordable Care Act (ACA) Marketplace plans begins Nov. 1, and runs through Jan. 31, 2017. This will be here before we know it! For those of us who live in Coconino County, we have one returning insurance carrier: Blue Cross Blue Shield of Arizona (BCSAZ). … [Read more...] about Looking Ahead with a 2017 Health Insurance Marketplace Preview
Creative Health Insurance Plan Proving Beneficial To Local Charter School
Small businesses are relentlessly efficient and public charter schools take efficiency to an even higher level. Therefore, when assisting a small business with their employee benefits, creativity is key, especially when it comes to one of the biggest ticket employee benefit expenses; health insurance. As Pine Forest Charter School has learned, exploring all options can lead to rewards. One strategy that is not frequently explored or implemented is partially self-funded health … [Read more...] about Creative Health Insurance Plan Proving Beneficial To Local Charter School
