Did you know that we spend $800 billion annually on “unnecessary medical services”? That is roughly 30% of all medical spending in the U.S. This waste is but one of the issues that we need to solve if we hope to get our medical costs under control.
Category: Health Care Reform
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…
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…
Via: America’s Health Insurance Plans
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…
The IRS has recently released a document that outlines examples of how much employers can save by taking advantage of the Small Business Health Care Tax Credit. Here are three examples of the tax credit paying off in a big way for small businesses! Want to learn more about the Small Business Health Care Tax…
Humana has developed high-level overviews of the new health reform law, with two versions tailored for small employers and large employers. Below are links to those summaries so you can download them for your use. Health Care Reform Overview for Small Employers Health Care Reform Overview for Large Employers Sage Benefit Advisors remains committed to…
The new health reform law gives a tax credit to certain small employers that provide health care coverage to their employees, effective with tax years beginning 2010. The IRS has developed a simple, 3-step worksheet to help employers determine if they may qualify for the Small Business Health Care Tax Credit. Click here to learn…
Here is a helpful chart in understanding the new health care reform bill. Sage Benefit Advisors will keep you up to date on the changes associated with the new health care bill.