Should I just drop group health insurance and offer an HRA instead?
In an effort to dodge some of the rules and challenges that are part of Health Care Reform, some “slick” sales organizations are encouraging Colorado employers to just “get out the health insurance game” and offer a Health Reimbursement Arrangement (HRA) instead. Here is one of the marketing e-mails that we just received. Their pitch sounds…
Not right away. The Colorado Health Exchange will initially serve individuals buying insurance for themselves and their families. Most people will continue to get their health insurance through their employers via Colorado Group Health Insurance. Colorado is also setting up a separate exchange for small businesses called the “Small Business Health Options Program” (SHOP). Individuals may…
Colorado Health Insurance Exchange
If your employer does not offer health insurance, then beginning in 2014 you will be eligible to purchase your Colorado health insurance from the Colorado Health Insurance Exchange. What is the Colorado Health Insurance Exchange? Colorado’s health insurance exchange will be a competitive and transparent marketplace where you can purchase health insurance (even if you…
It’s easy to save money on Colorado Health Insurance and to live longer too. DON’T SMOKE! Non-smokers pay less for their Colorado Health Insurance premiums. As one example, Wal-Mart recently started charging smokers $2000 more per year for their health insurance. Non-smokers pay fewer taxes. Colorado smokers pay $1.85/pack in federal and state taxes. Non-smokers live…
What is an SBC?
As we find ourselves in the midst of health care reform law we are faced with yet another acronym: SBC. This stands for Summary of Benefits and Coverage and this document actually began it’s formation on August 22, 2011 by the Departments of Labor, Treasury and Health and Human Services. On February 9, 2012 the…
Here’s what you need to know about Health Savings Accounts (HSA) for 2013: HDHP Minimum Deductible Amount Individual $1,250 Family $2,500 HDHP Maximum Out-of-Pocket Amount Individual …
So, you have heard a lot about health care reform (AKA: The Affordable Care Act and/or Obamacare), but you aren’t sure exactly what is changing or when it is changing. Well wonder no more. Here is a great summary of all the changes that affect small business and the group health insurance market. Affordable Care…
Why Is Health Insurance So Expensive?
The answer to this question is complex, but in general terms the high and rising costs of health care are the result of eight key drivers: 1. Medical technology is amazing…but it’s expensive As new health care technologies prove to be more effective, expect utilization to increase; in turn driving costs up even more. Spending…
Ever since the health care reform bill passed, we have been fielding tons of questions from our clients about how this bill was going to affect them. Three of the most frequent questions that we get from our small business / group health insurance clients are: 1. Does my small business qualify for the “Small…
Why Smart People Are Buying Health Savings Accounts
No doubt about it, Colorado health insurance can get pretty expensive. In these difficult economic times, it’s hard to fit insurance premiums into the family budget. Which is why instead of getting traditional health insurance, more and more Colorado residents are turning to health savings accounts (HSA). The reason: instead of paying insurance companies for…
