Connect for Health Colorado has awarded $17 million in grants to support their Assistance Network (aka “health care navigators”), a group of organizations aimed at educating the public about the new exchange and options for healthcare in 2014 and beyond. $2.1 million of that total has been allocated for Northern Colorado. These 6 organizations have…
Category: Health Insurance
As far as health insurance is concerned, a large group employer is defined as more than 50 full-time equivalent employees (FTEs). As for how to determine if you have 50 or more FTEs, check out this post. Large businesses will have 3 basic health care options come 2014: Offer employees a fully insured or ASO…
How to calculate average number of employees per month for health care mandate
If a business is considered “small,” it is not required to offer a health care plan. For large companies of more than 50 full time equivalent employees (FTE’s), offering coverage is mandated to avoid paying steep penalties. A full time worker is defined as someone who works more than 30 hours per week. However, part-time…
Small businesses with less than 50 employees will have the choice to purchase health insurance plans for their employees either in the traditional setting (outside of the exchange), or inside their own exchange called the SHOP (Small Business Health Options Program,) which is separate from the individual exchange. Please note that Sage Benefit Advisors will…
The Affordable Care Act goes into effect in January 2014, and enacts the requirement that health insurance coverage be guaranteed issue for all, which means that no one can be denied or charged extra for preexisting health conditions. There are three situations most people will find themselves in come next year. Some will be covered…
Anyone who’s ever dealt with the terminal illness of a loved one understands the emotional, physical, and often financial stress a family takes on during an exceedingly difficult time. Tough decisions must be made by all, but are these choices really in the best interest of the family, or the dying person? Shockingly, 1/4 of…
Criminals these days will take any opportunity possible to steal your identity to use to their own advantage. This is common when new changes in government policy occur. It’s not surprising that President Obama’s Affordable Care Act has already proven to be a means for these offenders to attempt to gain valuable personal information. The…
What health insurance companies are going to be on the Colorado health insurance exchange?
The Colorado Health Insurance Exchange recently announced which carriers have submitted plans to the Division of Insurance (DOI) for approval, and would likely take part in the online insurance exchange. This list includes insurance companies that will offer both individual and/or small group health plans: All Savers Insurance Company (Individual) Anthem (HMO Colorado and Rocky…
Essential Health Benefits are basically what the Affordable Care Act says must be covered with no lifetime maximums, on every fully insured small group and individual health insurance policy starting January 1st, 2014 (or on the first day of the plan year following January 1st, 2014): • Ambulatory patient services • Emergency services • Hospitalization…
Employer Penalties under the ACA in 2014
Employers, you need to be aware of the penalties that will be imposed come 2014 if you are not compliant with health care reform law. Check out this flow chart created by The Kaiser Family Foundation to see how you may or may not be impacted. Employer Penalties Flow Chart Not sure how…