Transitional Relief for Indiana Small Group Health Plans
CMS recently released guidelines for transitional group health policies under the Affordable Care Act. This impacts any health insurance plan that is considered grandmothered. A grandmothered group health plan had an effective date prior to 2014. These group plans should cost less than current market options and that is why these new rules are important. The […]
Indiana Group Health Insurance Under ACA
It would be wishful to say that group health insurance under the ACA has stabilized. Comparing it to the Individual market under the ACA, the group is calm. For companies with less than 50 full time employees, or the equivalent under 50, fully insured products are guaranteed issue. This mean there is no underwriting. When employees complete […]
Out of Pocket Maximum for Health Insurance
All health insurance policies must follow guidelines under the Affordable Care Act. One guideline is the out of pocket maximum (OOPM). The OOPM is the most an insured can pay out of their pocket in one year. Also can be referred to as cost sharing. For 2016, the OOPM cannot exceed $6,850 for a single […]
Extended Transitional Group Health Policies
Late February 2016, CMS sent out a bulletin for extended transitional policies. The bulletin outlined to extend small group health insurance policies to Dec. 31st 2017. The former rule was that these policies would be terminated on October 1st, 2017. How does this impact Indiana small group health plans? If you purchased a health plan […]
Telemedicine is Coming to Indiana
The governor of Indiana signed House Bill 1263, which will official make telemedicine legal in Indiana. Under the new law board-certified doctors, will be able to provide care for flu, colds, allergies, minor infections and more. They will even be able to prescribe medications online. This is a huge step for Indiana when it comes […]
Current State of Individual Health Insurance in Indiana 2016
After attending multiple broker advisory meetings, on the individual and small group markets we now have view of the health insurance markets. Individual health insurance on and off the exchange: This market is completely unstable! The insurance companies have had a difficult time adjusting to the new rules, regulations and managing the risk. The first […]
Employee Benefits Philosophy
As a decision maker, the philosophy that you form for employee benefits will have a huge impact on your company and employees. There are many different approaches and benefit philosophy’s can also change over time, so they are not set in stone. Co Pay Approach A common approach is to offer benefits that are going […]
Group Health Insurance Options
In today’s market of employee benefits, there are still multiple vehicles in which you can provide employer sponsored health insurance. The group health insurance industry both here in Indiana and the rest of the country have been impacted by the Affordable Care Act. There has been some positives impacts and some negative. For now, we […]
Indiana Group Health Insurance
Group health insurance, employers sponsored health insurance, employee benefits, or group health, no matter what you call it, it’s in investment into the employees and the company. In Indiana, we have been experiencing a large decline in group health insurance being offered for over a decade. The affordable care act has helped to increase that […]
Health Insurance address Special Enrollment Losses
Under the Affordable Care Act, once open enrollment has ended, an individual may still be able to purchase though a special enrollment period (SEP). The SEP usually occurs when that individual has a qualifying life event (QLE). Involuntary loss of health insurance coverage, marriage, child birth, and move to a new state are all examples […]
