Number of Employers Offering Coverage Grows

| posted in Blog, Newsletter

The number of companies offering health insurance to their employees has risen for the first time in a decade, according to new research from the Employee Benefit Research Institute. In 2017, almost 47% of private-sector employers offered health insurance, up from 45.3% in 2016. The percentage had previously been dropping steadily since 2008, when more than half (56.4%) were providing coverage. The trend continues that the larger the company, the more likely it is to offer coverage, with 99% of firms with 1,000 or more employees offering health benefits. Interestingly, the pre-Affordable Care Act numbers are higher than the post-ACA…
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Getting around the Question of Spousal Coverage

| posted in Blog

While the Affordable Care Act requires employers to offer coverage for employees’ adult children until the age of 26, it does not require them to offer coverage to their workers’ spouses. As employers try to balance the costs of offering health coverage, spousal coverage is often on the table for cutting when making cost decisions. Many employers view offering spousal coverage as a way to keep up morale and serve as a recruitment and retention tool, but others consider the option a burden. Cutting it out completely though is often a bitter pill for many employees to swallow, particularly if…
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Open Enrollment is Coming to a Close

| posted in Blog, Uncategorized

With the tax penalty larger than it has ever been, now is the time to sign up for health coverage if you are not covered. The “shared responsibility” penalty for going without coverage in 2016 is $695 per person and $347.50 per child, or 2.5% of household income – whichever is higher. The open enrollment deadline is January 31st, 2016. Anyone who has not signed up by that deadline will not be able to enroll until next year’s open enrollment, unless they have a qualifying life event. If you wish to have coverage that is effective February 1st, your deadline to submit…
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ACA Auto-enroll Requirement Repealed

| posted in Blog

The Affordable Care Act requirement that large employers automatically enroll in a group health plan any employees that don’t respond when asked to choose a plan, has been repealed The change came after the employer community had lobbied to have the provision repealed because of the lack of clarity in the law, particularly about how much discretion employers would have in choosing a plan for those workers. Originally the ACA amended the Fair Labor Standards Act by adding a new section requiring employers with more than 200 full-time employees to automatically enroll new full-time employees in the employer’s health benefits…
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Start Educating Your Workers on Affordable Care Act Tax Forms

| posted in Blog

While we’ve told you about the various forms you may be required to submit as part of your responsibilities under the Affordable Care Act, your employees may not be aware of what’s coming. Chances are, they’ll likely be confused by the new form 1095-C, which all applicable large employers must provide to them along with their W-2 by the end of January 2016 – and about what they are supposed to do with it. The problem with this form is that it only states what the employee was offered, and not the health insurance that they chose. That information will…
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Five Tips for a Successful Open Enrollment

| posted in Blog

In light of today’s diverse and continuously evolving workforce, it’s more critical than ever that you have a targeted strategy for your open enrollment. You should not just consider open enrollment as the period that your staff chooses benefits. The way you execute and your success in boosting participation can help attract, engage and retain top talent. This makes open enrollment season – and all of your year-round benefits communications – an essential part of your overall human resources strategy. Open enrollment is your ticket to a more benefits-engaged workforce. Open enrollment’s function is to get employees signed up for…
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