The self-insurance solution — with or without the ACA - Employee Benefit Advisor
In this article, Paul Johnson writes for Employee Benefit Advisor about self-insurance as a solution to rising.
Since election day, the future of healthcare in the US has been unpredictable, to say the least. More aptly, the healthcare industry is in a state of chaotic uncertainty with many unanswerable questions, and a lack of clarity and real solutions from the new administration (save a repeated promise to repeal the ACA – without any solid plans for a replacement).
However, there are inklings of what the new presidential team will emphasize as it tries to right the seemingly flailing ship of consumer health coverage. Specific to employers and almost regardless of how things shake out, the debate will still reign over how much ethical and financial responsibility an organization has towards keeping its staff healthy. Below is a brief summary of some of the bigger questions around the future of healthcare as it pertains to employers.
However healthcare shakes out in the months and years to come, one thing is for sure: most employers with 50+ employees will want – or need – to offer employer-sponsored healthcare in some form in order to remain competitive. This includes nonprofits, which often struggle more than for-profits to provide compensation packages valuable enough to entice talented staff. But with the rise of HSAs, the potential repeal of the employer mandate, and a possible roll-back of tax benefits, employees are likely on the losing end of the stick.
That said, there is a strong and viable healthcare solution for organizations that want to offer high-quality, affordable care for employees without breaking their own banks. The Nonstop Wellness approach to partial self-insurance allows organizations to eliminate employee out-of-pocket expenses, offer platinum-level benefits at a lower premium cost, and provide customized services. In addition, nonprofits can boost their operating budget through the return of unspent reserve funds. Regardless of what is coming down the pike, Nonstop Wellness and its myriad of advantages remains a constant.
Change may be inevitable but your organization doesn’t have to live in the uncertainty of it all. Download our comprehensive guide to ACA penalties for 2016 (which are still in effect until further notice) to help keep your organization in compliance:
The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. This communication does not constitute a legal opinion and should not be relied upon for any purpose other than its intended educational purpose.
In this article, Paul Johnson writes for Employee Benefit Advisor about self-insurance as a solution to rising.
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Image: Global Reporting Initiative
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