Health Insurance Costs

W-2 vs 1099 is it really that big a deal?

If you call them “Employees” they are not “contractors” and the difference can cost you a great deal. I explained this to an employer that has the term used in this manner in an employee announcement “If you are a full time employee you will be offered employee benefits, if you are a 1099 employee you will not be offered those benefits as you are not eligible.” That document can be used in an audit to demonstrate that in fact you consider those people you’re employees. Continue reading

What you don’t know about about your Employee Insurance Coverge can hurt you.

In every area of your business somebody specializes in some small aspect of what you do. The people who specialize in selling things you need are essentially partners in your success. They are not the problem. People who specialize in regulations and legal issues will be the problem. Continue reading

We got this “MLR” (Medical Loss Ratio) payment check a few weeks ago – what should we do with it??

If you are an employer who offers an employee benefit medical plan then you may be getting money back from your medical carrier under the MLR (Medical Loss Ratio) legislation. Here are some steps you need to take if you are the employer. Continue reading

Don’t leave the room, you may forget what you were doing!

Well now there is actual research that says your memory is not any worse than it was and your mother was right – again. It is called an “event boundary” that affects how you remember. Essentially as you leave the room you were working in you go out a door and it is an “event boundary” for your memory. You leave the room and you forget until you go back to that room.
Continue reading

Do you really need to outrun the bear or just be self-insured?

Just being partially self-insured cannot guarantee you will not see cost increases, but it will give you the tools to set that goal and then work to achieve it. Continue reading

How does a Coyote kill a chicken?…The Health Insurance Fable.

Being a business owner or an HR director is frequently about knowing what to focus on and what to be aware of, but ignore for now. Not everything people are excited about today needs to distract you. Much what you see is chaos created by people selling chaos or solutions to problems created by the chaos. Continue reading

Can you drop your COBRA Coverage and enroll in exchange plans?

HR managers need to be aware that new rules have been issued regarding COBRA notification. For example, your COBRA notification now needs to carry clarification of the enrollment process and the rules surrounding it. You do not want to be issuing COBRA notifications that do not indicate that people not wishing to carry COBRA are only allowed to choose federal marketplace plans during the official open enrollment period. Continue reading

Remember that Exotic dancer that received life insurance money because she was the legal beneficiary?

Employers frequently minimize the value of life plans, and employees forget about them, but these are valuable benefits that only come into play when death occurs – OR – with the anticipation of death in some cases. Continue reading

What do you mean my doctor is not accepted in your network, I asked if they accept my insurance before I went!

The majority of medical providers will say yes if you ask if they accept your insurance. (unless it is Medicare and they may say they do not accept Medicare patients.) This does not mean they will be “in network” and thus be subject to the contracts that limit what the physician may charge you. Continue reading

True Story: Mom has to give 20 year old son’s life insurance payment to an “Exotic Dancer”

While a person may leave life insurance proceeds to pretty much anybody they want, very few people understand the ramifications of that action. And very few people remember to change the beneficiary if they have a life change – or just change their mind. Continue reading