Get ready for a mini-series you can't ignore! Tune in every day next week for Healthcare Trivia, featuring contestants Joel Harrison from EliteHRTeam.com and Heavy-Weight Champion, OBAMACARE! Don't miss this hilarious series with real facts about what you need to know on Healthcare Reform.
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Healthcare Reform Trivia coming to a computer screen near you! Monday 10/28/2013 at Noon CST. Joel Harrison VS Obamacare MCS is counting down the minutes until the Illinois Health Care Exchange opens on October 1. Keep checking back for what-you-need-to-know updates!
FOR EMPLOYERS: You are required to send a letter to your employees, explaining their exchange options. We have drafted a letter for you. There are two options: one for businesses that already offer healthcare and one for businesses that do not. Contact us and we can co-brand it with your company’s information. FOR EMPLOYEES: If your employer doesn’t offer coverage, or you want to explore your options, we are here to give you the best health quote. We take into consideration your income, your life, and your desired level of coverage. There is a plan for everyone out there, and we can answer whether your best course of action is to go through the state, stick with your employer’s offering, or go out on your own. Illinois opened the registration process for Producers to sign up on the Exchange on August 9. The first step is to complete the certification requirements for the Federally Facilitated Marketplace. As they say, “The course only takes 3-4 hours to complete, and it’s free.” Our licensed agents have been attempting to complete this training for a while now, and so far, they haven’t been able to get access to the site to complete the verification process. One of them called the number listed on the site, and after being redirected to the right number (which has since been updated), was told that the site was experiencing a high volume of visitors (not surprising, since thousands of agents in the state have been waiting for access to rates and more information for their clients). He was told to try back later. Seven in the morning, eleven at night. Same error message. These lines are longer and more frustrating than the DMV! This problem is occurring with just enrolling agents--what happens if the population of Illinois wants to log on for more information? That's 12.8 million people. Facebook may be able to handle it, but we aren't sure about the Exchange. The good news about the Exchange is that if you, as an individual, use a licensed and trained agent to find the best plan, you won’t pay a penny more than if you sat in front of the computer and dealt with the headache yourself! Mensing Consulting Solutions is here with the information you need to make an informed decision. On August 21, Mensing Consulting Solutions hosted “Are You Prepared?” in conjunction with the Small Business Association. It was a workshop designed to answer business owners’ many questions about the Affordable Care Act. Keynote speaker Dennis Foldenauer from the Small Business Association explained the benefits of the program from the government’s perspective.
In three breakout sessions, practical solutions were offered and “what if” scenarios proposed. Kurt Rickhoff, owner of Rickhoff Small Business Accounting, discussed the ramifications from an accounting perspective, including the changes to W-2s. Joel Harrison from Mensing Consulting Solutions talked about how to make the affordable care act actually affordable, and presented a myriad of options that business owners might not have been previously aware of when it comes to offering benefits to their employees. Finally, Kandi Mensing ended the morning with a session on the perks that business owners can offer their employees–many with no additional cost involved. The workshop addressed more than forty attendees, with interest in repeating the information session for chamber groups. Attendees stayed after for an hour-long question-and-answer session, where they had a chance to outline their own unique situations and get answers to their specific questions. The event was a success thanks to the support of:
By: Jodi Tahsler
Many businesses, small and large, use benefits brokers to help them choose healthcare coverage for their employees, implement wellness and safety programs, and keep them up to date on changing legislation, including healthcare reform. In a recent article, Benefits Pros summarize studies that showed brokers are not able to provide companies with the service and attention they require, and a large percentage are unhappy with their experience. Even more surprising is that “nearly half of brokers aren’t confident in their future in the industry and are considering quitting.” Businesses are realizing their need for a broker more than ever, and brokers know they need to provide more than just an insurance policy. So where is the disconnect? Mensing Consulting Solutions is different because we can offer the “boutique experience.” Unlike brokers, which compare to the “big box stores,” we can customize your experience and tailor-make HR recommendations for your company. We don’t want to offer cookie cutter solutions, because every company is not the same. We want to work with you to find real-world, workable situations that will save you money and create a welcoming environment for employees. We can customize the level of coverage you need. Whether you need auditing and file compliance help, sexual harassment training, recruitment, employee engagement and retention strategies, or healthcare options and advice, we offer an option that is right for your needs. As a bonus, you get the peace of mind that you made an informed decision. To read more, go to: Brokers Failing Employers Businesses tell us that one of their top areas of worry and uncertainty, if not THE #1 concern, involves changes in healthcare. We're always interested in multiple points of view regarding this important topic, regardless of political leaning. Like you, we're keenly attuned to the financial impact of healthcare policies on businesses. Thus we thought you might be interested in Dr. Elizabeth Lee Vliet's perspective, especially since "taxpayer" is often another way to say "businesses."
Now that businesses will not be required to offer health insurance until 2015, workers and their dependents will be eligible for taxpayer-funded subsidies to purchase health insurance on the exchanges. This will cost taxpayers an estimated $60 billion dollars in 2014 alone to cover the increased costs of subsidies and the loss of revenue from employer penalties. This $60 billion figure is before we take into account the "liar subsidies"that will invariably occur now that the administration has quietly removed eligibility verification for taxpayer-funded subsidies. Community organizers are already being hired around the country to sign people up for the health exchanges. There are no penalties for failing to verify eligibility, and no penalties for signing up people who cannot afford to pay the monthly insurance premiums. To read more, go to: 10 Reasons Why Obamacare Is Going to Ruin Your Medical Care and Your Life By: Joel Harrison
The clock is running… America is scrambling to get ready for one of the biggest social economic changes since the implementation of welfare, Medicare and Medicaid. Big changes mean big questions. With less than 6 months to go in 2013, people are anxious to see what healthcare is going to look like. Many people don’t want to make a move until everything is in place and working. For people who are currently denied coverage due to a pre-existing condition, the days are creeping by until they can purchase the care they need. Insurance carriers know that they will be paying more in claims in the future; this means that right now carriers are trying to collect as many healthy people as possible to help balance the scales. There big advantages to shopping this year that could greatly improve your healthcare situation in the future. 1.) The healthy pool When you buy insurance you are often put into a “pool” – a group of people who are grouped by certain criteria. Often this is done by your geographical location. Your “pool” also contains a group of people of varying health status. The design is intended to strike a balance between premiums coming in and claims going out. If you are healthy, and purchase your healthcare before Jan 1st 2013, you meet the criteria to join a healthy pool. This means that the overall cost of your “pool” will be less, because healthier people cost less in claims.. The best news is the pool doesn't evict you later . Once you’re in… as long as you keep your policy, you can stay in the healthy pool. This will not avoid rate hikes in the future, however it will make your rate hikes more manageable than the healthy guy who buys in January and jumps into the “everybody pool.” The “everybody pool” will include any and all illnesses and have a very high claims cost. 2.) Essential health benefits On January 1st 2013 every major medical plan must include certain coverage for EVERYONE. Are you a single 24 year old male, or a couple in their 50’s? Neither are planning on having children, however they will both be paying for maternity and fertility coverage… Haven’t taken a pill in years? Sounds like you need prescription coverage. Don’t want it? Too bad, every single major medical plan sold in 2014 will have these, and other benefits mandated. These rich plans are great you’ll be covered for everything, however they will also be VERY expensive. If you don’t need all of these benefits then now is the time to shop. Each carrier handles the upgrading of current plans to new benefits differently. Blue Cross Blue Shield of Illinois will upgrade all plans on January 1st 2013. The new plans are defined by richness of benefits, and assigned a “metal” level – bronze, silver, gold or platinum. When these plans get “upgraded” (aka ” metalicized”, meaning they will now fall into one of the newly defined metallic levels of benefits,) the price will skyrocket; estimates are anywhere from 50% to 200% increased cost. Some carriers will let you put off this upgrade until the one year anniversary of your plan, others even let you keep your current plan design until Dec 31st 2014… Postponing a huge rate hike a whole year sounds like a GREAT reason to shop now to me. 3.) Cost as previously mentioned, healthcare premiums are about the skyrocket. Estimates are range from $350-$500 MORE PER PERSON. These plans will offer GREAT coverage and anyone can get them regardless of health status, location, medications, weight, or any other reason someone would be denied coverage today. But again, they will be hugely expensive. Cost is the big ugly monkey on the back of healthcare reform. Paying more claims means premium costs must go up across the board. Another new rule is that no one person can pay more than 300% more than any other. Currently a difference of 500% is allowed.,. Younger, healthier people will face much higher rates in order to subsidize rates for others. 4.) State Marketplace (the artist formerly known as the public exchange)GREAT COVERAGE FOR EVERYONE… if you can afford it. Yes the government will be subsidizing premiums for those under 400% of the poverty level (which starts out around $42,000 for an individual and increases based on family size.) The cost of healthcare purchased from the State Marketplace is the “unknown” factor that has most people waiting to shop. STOP WAITING. We have been doing extensive research on this topic all year. We now have the ability to estimate what subsidy you may be eligible for and what your premium will be on the public marketplace. These numbers will not be exact; however they will tell you whether or not waiting is a good idea. Healthcare is and will remain to be one of the top expenses for families for a long time to come. How far do you drive to save a few pennies on gas? How long do you spend each week cutting coupons to save a few dollars on groceries? Could you stop wasting that time if you made one big cost-saving move? Shop around for healthcare, find an agent who you feel you trust to find the best plan and price for your family, and prepare for the future. Healthcare reform is coming whether you want it to or not. Stop ignoring it and make the best move for your family and your wallet. By: Mensing Consulting Solutions
Late in the afternoon before a holiday weekend, the Treasury Department made an announcement via the Treasury Notes blog that rocked the business community. There will be a one year delay (until January 1, 2015) of a key mandate of the Affordable Care Act (ACA). Simply stated, the provision mandates that employers with 50 or more full-time equivalent employees either provide health care coverage to their full-time employees, or pay penalties. Hence the “play or pay” analogy -- provide insurance that meets certain government standards and implement the required data collection and reporting that goes along with it, or pay a substantial per employee fine. On July 5 of 2013 the Department of Health and Human Services issued a 606-page regulation announcing that state health exchanges would not verify the eligibility of those applying for Obamacare health insurance subsidies. That regulation is a subject for another discussion; for now, we address the delay in enforcement of play or pay. Speculation was rampant as to the reason(s) – even the legality – of the Administration unilaterally changing a provision codified in law. Is it permissible for an Administration to dispense with compliance with some or all of a law, and if so, does that apply to any Administration and any law? Do individuals have the same right? Was it, as stated, that the Administration had listened to businesses and wanted to provide more time to comply? Was it that the logistics of the ACA had not been thought through well before passing the law and the government itself was not prepared to enforce it? Was it that Federal agency staffers, tasked with the interpretation and enforcement of the ACA, and now also impacted by both the furlough and the herculean task of revamping regulations in the wake of the Supreme Court’s ruling on the Defense of Marriage Act (DOMA), simply completely overwhelmed? Did delaying an unpopular mandate past the 2014 elections play any role? The reach of the delay may or may not be enormous. No one can say for sure, but here is what we do know: · At first blush, the small employer might think: “Who cares?” Small employers are not directly impacted by the delay in the mandate, since the mandate does not apply to them. However as small business owners know, often what is implemented first for larger businesses is a preview of what is “coming to a theater near you.” Legislation impacting business tends to be phased in from large to small business. Also, small business cannot escape the impacts of costs in healthcare and healthcare insurance. Changes to key components of healthcare (see below “What stays the same”) will impact costs to all, and the ability to offer healthcare coverage has a direct impact on the ability to remain competitive, and recruit and retain talent. Small businesses should also beware the adverse impact of increased government fines as a result of the delay of the mandate. You see, the government was planning to partially fund the cost of operating the exchange with the revenue from fines imposed on those that failed to comply with the coverage mandate. Without the revenue from fines, other government agencies will inevitably need to ramp up their audits to generate revenue from imposing fines in other areas of non-compliance; ICE, DOL, EEOC, and more! · There is still a tax credit available to small, “qualified” employers providing health insurance (with lots of qualifiers to meet first). · So what does the delay mean? The delay applies to the mandate on “large” employers. For purposes of the ACA only, “large” employers are those who employ 50 or more full-time equivalents. The delay means employers have more time to figure out:
What stays the same? · The delay applies to the reporting and penalty portion only -- other ACA provisions stay in place, including:
Every company is unique – let us help you evaluate the impact of the ACA on your company and projected growth.  Part of the Affordable Care Act (ACA, also known as healthcare reform) is the employer mandate for businesses with over 50 FTEs (full-time equivalent employees) to provide healthcare coverage to their employees working 30 hours or more. The consequence for NOT providing healthcare to full-time employees is to face hefty government fines. Late yesterday, the Obama administration announced that the employer mandate portion of healthcare reform has been DELAYED UNTIL 2015! What does this mean for employers? It simply means they have another year to prepare. We have already been asked here at MCS what that means for individuals and W-2 reporting. We are being told that all other provisions of the ACA legislation will remain in effect. However, we are telling our clients that it is truly 'wait-and-see' at this point. The government sure does keep our jobs interesting!
We will continue to monitor this closely and keep you updated.  By: Kandi Mensing
I just put $4,800 directly into a business owner's pockets every year. $4,800 is the direct premium savings I was able to find them by shopping their plan. For the last 5 years, they were paying $730 per month for their family coverage with a $6,000 family deductible and $15 prescription copays. Their NEW plan, which has a monthly premium of only $330, has only a $5,000 family deductible and their prescriptions are only $4. So, if we want to get technical, we also lowered their expense risk by $1,000 annually in terms of their deductible, and saved them $132 per year on their prescriptions (savings of $11 per month). So, over the course of the next 5 years (as long as they had their old plan) they will have saved nearly $30,000 ($4,800 x 5 = $24,000, $1,000 x 5 = $5,000, and $132 x 5 = $660)! I didn't even mention that for each year that they do not exhaust their deductible, their deductible decreases by 20% the following year, up to a 50% decrease! How can we save business owners this type of money? That's easy; we are not an insurance agency. Our income is not dependent on the amount of premium we can get you to pay. We believe in small business. We support small business. We want you and your business to feel financially stable and protected. We care about "doing right" by our clients. What would you do with your extra $30,000? |
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