Qualified Health Plan (QHP)
Next year all health insurance plans must meet the essential health benefits to be considered a Qualified Health Plan (QHP) These requirements are base on: If the plan is offered inside or outside the exchange IF the plan is fully insured or a self funded plan Premiums for Individual and small groups will no longer […]
Group Health Insurance
In 2013, we should see the final implantation of health care reform. The final stage should open an additional markets and strategies for group health insurance. In 2014, group health insurance will no longer have medical underwriting. This is call guaranteed issue. No longer will an employee have to complete application and answer medical questions. […]
5 Things A Small Business Needs to Know about Health Insurance Reform
Insurance companies are held accountable. The insurance company must spend at least 80% of the premium collected on medical care. If they don’t, then a rebate check will be issued to the group. Insurance companies are health accountable for large rate increase. Insurance companies must publicly justify any rate increase over 10%. Tax Credits for […]
$63 Fee Hidden in PPACA Regulations
It turns out that everyone that has a health insurance policy will have to pay an additional $63 a year. This $63 is to help fund the health insurance industries risk for in 2014. If you have an individual, small group, large group or self funded plan you have to pay. In 2014, the individual […]
Community Ratings For Small Group Health Insurance
In 2014, we are going to see a major transformation of the small group health insurance market. One of the biggest changes is the community ratings. No longer will a small group premium be based on medical conditions. This means most will groups will have similar pricing. Right now small groups in the area are medical […]
H.S.A’s Under Health Care Reform
H.S.A Health Savings Accounts look to be qualified health plans under the health care reform act. This is huge news! Initially when the health care laws were passed, Health Saving Account we not considered qualified. This meant that if you had an H.S.A plan you would be subject to the tax penalty. From this report, the Actuarial Value calculator […]
Low Income Workers and Health Benefits
NY Times This is a article about the fear of the Affordable Care Act in low income industries. Restaurant and Hospitality owners could be impacted negatively by the tax penalty of not offering a group health plan. In these industries it is difficult for employees to pay their portion of the premium on a group health plan. These industries have been […]
Health Insurance Narrow Networks
IBJ Anthem announced the development of a Narrow Network in Wisconsin. The narrow network is a limited preferred provider organization (PPO). This new network arrangement is not just for Wisconsin but the entire country. The health insurance industry is working on reducing costs and one way to do this is to negotiate deeper network discounts. […]
Indiana Affordable Care Act Pricing
Indianapolis Affordable Care Act Pricing – Current Estimates ACA Insurer Fee: • Effective 1/1/2014 • 2.68% tax off fully insured premium • Applies to Small and Large Group – fully insured only Affortable Care Act Reinsurance Fee: • Effective 1/1/2014 • $6.35 Per Member Per Month before state tax […]
Health Care Reform Predictions
In 2014, the health insurance landscape is going to change a great deal in Indianapolis. There is going to be new taxes on group health insurance plans. For fully insured group plans, there will be a 2.68% tax on those plans. On self funded plans, there will be $6.35 per member per month tax. These […]
