Another important delay was announced last week closely following the report that the employer mandate would be postponed for a year. (Read about the delay of the employer mandate here.) It was originally planned that there would be a verification system in place for people whose reported income differed significantly from what the federal government…
Category: Colorado Health Insurance Exchange
On June 26, 2013, Section 3 of the federal Defense of Marriage Act (DOMA) was found to be unconstitutional by the Supreme Court, effective immediately. DOMA went into effect in 1996, and Section 3 contained a statement that marriage is defined as the union of one man and one woman. The implications of this change…
Health care reform has created much uncertainty for employers. Do you know if you are in compliance with the current requirements of the law and are you prepared for 2014? Do you know the financial impact of reform on your bottom line? Do you know the tax impacts? Join us for one of these free seminars where the…
When health care reform goes into effect in 2014, people under a certain income threshold will qualify for subsidies in the form of tax credits to help offset the price of health insurance, if they buy a plan through an exchange. Individuals whose earnings are less than about $46,000 per year will benefit from the…
CoverColorado is going away. Now what?
Those who are insured by CoverColorado must be wondering what’s in store for them in 2014. Well, to start, it is going away. Here is the letter that CoverColorado sent out to all insureds explaining how this program plans to wind down. But, there will be options for its beneficiaries. If you have any questions about this, just give…
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…
The Colorado Consumer Health Initiative (CCHI) analyzed plans filed by insurance carriers to be sold in the Connect for Health Colorado exchange, and released sample rates for 2014. The following examples are estimated rates for silver level plans. Silver level policies are designed to cover 70% of all health care costs for the average person….
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…
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…