California employers that offer group medical insurance often ask how they can keep a child on an employee's health insurance plan after turning age 26. This article answers questions like this one: My son turns 26 in May and was diagnosed with Autism several years ago. I received a [...]
Need health insurance outside of the open enrollment period – consider the California Major Risk Plan (MRMIP)
If you didn't sign up for individual health insurance in California during the open enrollment period, you're not stuck. A little known state program, Major Risk Medical Insurance Plan (MRMIP), may be your saving grace. While no insurance company will offer you coverage outside of the open enrollment period unless [...]
For the Third Time DOL & IRS say an Employer Can NOT reimburse employees for individual health insurance plans
Today the U.S. Department of Labor released yet another notice/guidance/ "FAQ" instructing employers that "an employer health care arrangement cannot be integrated with individual market policies to satisfy the market reforms." Obstinate vendors continue to push their high cost TPA services and claim that an employer can cancel a [...]
Group Health Insurance vs Individual Coverage: Compare After-Tax Cost, Provider Networks & Plan Benefits
Perhaps a company could give employees a salary bonus or "taxable discretionary wellness stipend" so that employees can buy their own individual medical coverage. If you’re considering a salary bonus or "wellness stipend" for employees to purchase their own individual medical insurance you should consider the following... Tax and worker’s comp savings are THE major reasons that companies sponsor group health insurance plans rather than offering a taxable stipend or salary bonus...A salary bonus or taxable wellness stipend for health insurance is extremely tax inefficient and forces employees to purchase inferior health insurance plans in the individual market.
Should a company reimburse employees’ INDIVIDUAL health insurance cost rather than sponsor a GROUP medical plan?
With the high cost of health insurance many companies are considering alternative financing arrangements to group health plans. The Affordable Care Act (i.e., ACA, Obama Care, Health Care Reform) created exchanges to help individuals purchase their own coverage. Also, the ACA forbids insurance companies from asking questions about preexisting [...]
We've prepared easy-to-understand videos that explain the new health care reform law (Affordable Care Ace, ACA, Obama Care). Topics include how to complete the required notices (Exchange, SBC & Glossary); an overview of individual and family coverage including Covered California; and problems of the current system that the ACA solves.
Today, May 23, 2013, the California Health Benefit Exchange, Covered California, released the 2014 individual health plan rates for 25 and 40 year olds. As they said in their press release, “it is impossible to make a direct comparison of these rates to existing premiums in the commercial market.” Still, at first glance the rates don’t look too high – but there..
On April 8th, 2013 Covered California/exchange/HBEX held a webinar for agents to describe their online enrollment process. Buried at the end of the presentation, slide 37 of 39 slides, was a screenshot of the page someone will see when he/she goes online to select a health insurance plan through Covered California. Bad [...]
I've just written a helpful guide for people who continue to work and must decide whether they should enroll in Medicare or stay on their employer's group medical plan. It turns out that the decision is a bit complicated and the answer depends on: •who's paying for the group plan (employer or employee); •whether the employee also has dependents enrolled on the group plan; and - oddly enough - •how much the employee earns... The article is sprinkled with a few funny things - so it's not as dry as you might imagine. If you're in this situation or if you know someone who is, you should read the article. Learn more by clicking on the link above.
The Federal government has re-branded its health insurance "exchange" as the "Health Insurance Marketplace." A video on the government's web site suggests that shopping in the Health Insurance Marketplace will be as easy as buying food in a grocery store. The government makes some pretty bold claims