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Category Archives: defined contribution

Defined Contribution: Helping Employers Control Costs While Giving Their Employees More Options

43333Now that the Affordable Care Act (ACA) is upon us, there are an array of both public and private insurance exchanges for individuals to shop for their own health insurance. And with the defined contribution model, employers can control the escalating costs of providing health insurance, while shifting responsibility (and control) of health insurance back to their employees at the same time. Read More…

DEC Presents: Affordable Care Act 101 (Live Event from Sept 19, 9-11am)

DEC Presents: Affordable Healthcare Act 101

Join us on Thursday, September 19 from 9:00am – 11:00am in the 1st Floor Training Conference Rm.

Program:

“Health Reform – Navigating the Changes in Healthcare”

PPACA

Learn about The Affordable Care Act

The newly enacted federal Patient Protection and Affordable Care Act makes sweeping and dramatic changes to how employers manage their employee benefits. It is crucial that employers stay abreast of changes that will immediately impact their businesses as well as begin preparation for future requirements that will have financial and administrative impact. Join us as we map out how reform affects businesses and individuals alike. The seminar will inform business owners, employers and human resource professionals on the latest information about health reform and how it will directly impact businesses.

 

Topics Covered:

· Employer Mandates

· Individual Mandates

· Coverage Expansion to Dependents

· Small Business Health Insurance Tax Credit

· Exchanges

· Medical Loss Ratio (MLR)

· Grandfathering

· How to stay in touch with new developments

· Early retiree reinsurance program

This Presentation will provide:

1. Deconstruction of the Bill and Its Provisions

2. A Timeline of Provisions and Employer Responsibilities

3. Practical Steps to Comply with the Law

4. Anticipated Changes to Benefit Plan Design, and the Role of Wellness Programs

This seminar will examine these impacts, analyze the options and opportunities and present what this means to you, your employees and your company. This conference will be useful for business owners, human resources professionals who are responsible for managing their employee benefit programs, health care providers and others involved in the health care industry.

Presenters: Matt Byrne & Barry Darryl Peel

Barry Darryl Peel is an Economic Development Specialist, Veteran Representative and Affordable Care Act Specialist with the U.S. Small Business Administration, Columbus District Office. Barry is responsible for creating and maintaining relationships with banks, chambers, economic development agencies, small businesses and small business assistance agencies. Barry brings over 15 years’ experience working with small businesses, especially Minority, Women and Immigrant owned.

Matt Byrne is President of MyHealthQuoter.com, a division of Spiralight Group, a health insurance brokerage specializing in affordable solutions for individuals, families and employer sponsored plans. Matt has a Bachelor of Arts degree from Boston University and holds a life and health insurance license.

He serves on the board of Central Ohio Professional Education Council (COPEC) and the Foundation Board of Trustees for First Community Church.

Location:

The Dublin Entrepreneurial Center is located at 565 Metro Place South, Suite 300, Dublin, Ohio 43017. For more information visit our website or even better join the conversation on twitter, facebook, or LinkedIn.

What to look for in a health insurance broker.

Anyone who has ever shopped online for health insurance knows a few things. There is a plethora of information, different plan designs, different carrier choices, and can be very overwhelming. A broker can consult you and coach you through everything. They have multiple carriers and understand all the guidelines and will be critical in helping someone to understand the new health reform starting in 2014. Read More…

Subsidy Calculator – Health Reform Premium Calculator

HEALTH INSURANCE REFORM

The health care reform law also imposes requirements on health insurance issuers to reform certain insurance practices and improve the coverage available.

• Eliminating Pre-Existing Condition Exclusions for Children. Group health plans and health insurance issuers may not impose pre-existing condition exclusions on coverage for children under age 19. This provision will apply to all employer plans and new plans in the individual market. This provision will also apply to adults in 2014.

• Coverage of Preventive Health Services. Group health plans and health insurance issuers offering group or individual health insurance coverage must provide coverage for preventive services. These plans also may not impose cost sharing requirements for preventive services. Grandfathered plans are exempt from this requirement.

• Prohibiting Rescissions. The health care reform law prohibits rescissions, or retroactive cancellations, of coverage. Group health plans and health insurance issuers offering group or individual insurance coverage may not rescind coverage once the enrollee is covered, except in cases of fraud or intentional misrepresentation. Plan coverage may not be cancelled without prior notice to the enrollee. This provision applies to all new and existing plans.

• Limits on Lifetime and Annual Limits. In general, group health plans and health insurance issuers offering group or individual health insurance coverage may not establish lifetime limits on the dollar value of benefits for any participant or beneficiary or impose unreasonable annual limits on the dollar value of benefits for any participant or beneficiary. This requirement applies to all plans, although plans may request a waiver of the annual limit requirement. The annual limit waiver program will be close to applications effective Sept. 22, 2011. Annual limits will also be prohibited beginning in 2014.

HEALTH INSURANCE EXCHANGES

The health care reform legislation provides for health insurance exchanges to be established in each state in 2014. Individuals and small employers will be able to shop for insurance through the exchanges. Small employers are those with no more than 100 employees. If a small employer later grows above 100 employees, it may still be treated as a small employer. Large employers with over 100 employees are to be allowed into the exchanges in 2017. The health care reform legislation provided that workers who qualified for an affordability exemption to the coverage mandate, but did not qualify for tax credits, could use their employer contribution to join an exchange plan. This requirement is known as the “free choice voucher” provision. The federal appropriations bill signed by President Obama on April 15, 2011, eliminated the free choice voucher provision from health care reform.

MyHealthQuoter.com is a consumer advocacy group assist insurance shoppers navigate plan choices and enroll on the exchange. Our case managers will guide you through the process and provide customized one-on-one consultations to maek sure you the the best plan at the lowest price.

Call (866) 577-3620 for more information.

Subsidy Calculator: http://healthreform.kff.org/subsidycalculator.aspx

HEALTH INSURANCE REFORM
Additional health insurance reform measures will be implemented beginning in 2014.

• Guaranteed Issue and Renewability. Health insurance issuers offering health insurance coverage in the individual or group market in a state must accept every employer and individual in the state that applies for coverage and must renew or continue to enforce the coverage at the option of the plan sponsor or the individual.

• Pre-existing Condition Exclusions. Effective Jan. 1, 2014, group health plans and health insurance issuers may not impose pre-existing condition exclusions on any covered individual, regardless of the individual’s age.

• Insurance Premium Restrictions. Health insurance issuers will not be permitted to charge higher rates due to heath status, gender or other factors. Premiums will be able to vary based only on age (no more than 3:1), geography, family size, and tobacco use.

• Nondiscrimination Based on Health Status. Group health plans and health insurance issuers offering group or individual health insurance coverage (except grandfathered plans) may not establish rules for eligibility or continued eligibility based on health status-related factors.

• Nondiscrimination in Health Care. Group health plans and health insurance issuers offering group or individual insurance coverage may not discriminate against any provider operating within their scope of practice. However, this provision does not require a plan to contract with any willing provider or prevent tiered networks. It also does not apply to grandfathered plans. Plans and issuers also may not discriminate against individuals based on whether they receive subsidies or cooperate in a Fair Labor Standards Act investigation.

• Annual Limits. Restricted annual limits will be permitted until 2014. However, in 2014, the plans and issuers may not impose annual limits on the amount of coverage an individual may receive.

• Excessive Waiting Periods. Group health plans and health insurance issuers offering group or individual health insurance coverage will not be able to require a waiting period of more than 90 days.

• Coverage for Clinical Trial Participants. Non-grandfathered group health plans and insurance policies will not be able to terminate coverage because an individual chooses to participate in a clinical trial for cancer or other life-threatening diseases or deny coverage for routine care that they would otherwise provide just because an individual is enrolled in such a clinical trial.

• Comprehensive Benefits Coverage. Health insurance issuers that offer health insurance coverage in the individual or small group market will be required to provide the essential benefits package required of plans sold in the health insurance exchanges. This requirement does not apply to grandfathered plans.

• Limits on Cost-Sharing. Non-grandfathered group health plans will be subject to limits on cost-sharing or out-of-pocket costs. Out-of-pocket expenses may not exceed the amount applicable to coverage related to HSAs and deductibles may not exceed $2,000 (single coverage) or $4,000 (family coverage). These amounts are indexed for subsequent years. Further guidance on which plans will have to apply these limits would be helpful.

MyHealthQuoter.com is a consumer advocacy group assist insurance shoppers navigate plan choices and enroll on the exchange. Our case managers will guide you through the process and provide customized one-on-one consultations to maek sure you the the best plan at the lowest price.

Call (866) 577-3620 for more information.

Subsidy Calculator: http://healthreform.kff.org/subsidycalculator.aspx

Supreme Court Upholds Health Care Reform Law

Supreme Court Upholds Health Care Reform Law

On June 28, 2012, the last day of its current term, the U.S. Supreme Court announced its decision on the constitutionality of the health care reform law. The Court upheld the entire law, holding that Congress acted within its constitutional authority when enacting the individual mandate. This means that the health care reform law will continue to be implemented as planned and provisions that are already effective will continue. Read More…

Navigating Health Reform (Part 7 of 7) (A Video)

Do you need someone to speak about Health Reform to your company or group? Are you looking for someone to help you navigate health reform or the complex health insurance process?

Feel free to contact us to schedule a time to review your needs.

Matt Byrne is President of MyHealthQuoter.com, a division of Spiralight Group, a health insurance brokerage specializing in affordable solutions for individuals, families and small groups. He also founded The Ohio Referral Network (TORN), a group that helps small businesses cultivate their professional development and the exchange of referrals.

Matt draws on fourteen years of technical product marketing experience. He has achieved record growth and has created several innovative marketing strategies which leverage and unify several state-of-the-art technologies including; CRM, telemarketing, affiliate programs, strategic partners, referral program, e-newsletters, live and virtual seminars, multimedia social networking and the internet.

Matt has a Bachelor of Arts degree from Boston University and holds a life and health insurance license.

He serves on the board of the Central Ohio Professional Education Council (COPEC) and the Foundation Board of Trustees for First Community Church.

Matt can be reached at (614) 336-3636 or http://www.myhealthquoter.com/

This is part of a 7 part series called Navigating Health Reform, please review some of our past entries.

Part 1: http://www.ohioindividualhealthinsurance.net/?p=422
Part 2: http://www.ohioindividualhealthinsurance.net/?p=432
Part 3: http://www.ohioindividualhealthinsurance.net/?p=437
Part 4: http://www.ohioindividualhealthinsurance.net/?p=444
Part 5: http://www.ohioindividualhealthinsurance.net/?p=510
Part 6: http://www.ohioindividualhealthinsurance.net/?p=524
Part 7: http://www.ohioindividualhealthinsurance.net/?p=625

All you need to know about Health Savings Accounts (HSAs)

All you need to know about Health Savings Accounts (HSAs).

Imagine an affordable health insurance plan that offers 100% preventive coverage that is NOT subject to your deductible. That’s right, no co-pay, no out of pocket 100% free for all preventive coverage. We’ve helped thousands of satisfied clients find affordable Wellness HSA’s.

Click here to start shopping for your HSA or call us at (866) 577-3620.

The insurance companies value prevention and early detection. They beleive in it so much that they literally give away most prevention and diagnostic services.

Please listen to my 30 minute blog about Health Savings Accounts

Listen to internet radio with spiralight on Blog Talk Radio

Health savings accounts (HSAs) are savings plans that allow health care consumers to set aside tax-free money to cover current and future qualified medical expenses. An HSA allows account holders to set aside as much as $3,350 for individuals and $6,650 for families annually before federal taxes to cover out-of-pocket healthcare costs, for individual and family coverage respectively in 2015 (and indexed annually thereafter). Contributions to HSAs are made annually and can be made by both employers and individual account holders. Unlike flexible spending accounts (FSAs) in which funds must be used within a certain period of time or forfeited, unspent funds in an HSA can accumulate over time as tax deferred savings. If the money is used for medical expenses, it is never taxed. To enjoy the tax benefits, you’ll also need a HSA compatible high deductible health plan (HDHP). When paired together, funds from a HSA can be used to cover the deductible and other cost-sharing aspects of an HDHP, as well as other qualified medical expenses not covered by the HDHP.

We’ve helped thousands of satisfied clients find an affordable Wellness HSA and we can help you, too. Give us a call at (866) 577-3620 and we’ll help you find a health insurance plan that is. . .

Affordable – Up to 50% cheaper than group coverage
Portable – You can take it with you from job to job
Permanent – As long as you make your premium payment, nobody can take it away

How It Works

1) You enroll in an HSA-qualified HDLP. You’ll pay lower premiums and have an account designed to help you pay for qualified medical expenses.

2) You establish an interest-bearing HSA.

3) You and other individuals may make tax-advantaged contributions to your HSA, up to certain limits.

4) You may use your HSA debit card or personal check* to pay for qualified medical expenses. Your local bank can help establish an HSA bank account. We suggest

We suggest using H S A Bank. They have a suite of 18 mutual funds you can use and allocate. https://secure.hsabank.com/enrollment?ain=1020030

What are qualified medical expenses?

Eligible medical expenses are defined as those expenses paid for care as described in Section 213(d) of the Internal Revenue Code. Additionally, the IRS allowed some over-the-counter drugs to qualify as eligible medical expenses.

This is a partial list of eligible medical expenses. Visit the IRS’s website (Publication 502) for a more complete list of eligible medical expenses.

Acupuncture
Alcoholism
Ambulance
Artificial Limb
Artificial Teeth
Bandages
Breast Reconstruction Surgery
Braille Books and Magazines
Capital Expenses / Home Improvements
Chiropractor
Christian Science Practitioner
Contact Lenses
Crutches
Dental Treatment
Diagnostic Devices
Disabled Dependent Care Expenses
Drug Addiction
Drugs / Medicines
Eyeglasses
Eye Surgery
Fertility Enhancement
Founder’s Fee
Guide Dog or Other Animal
Health Institute
Health Maintenance Organization (HMO)
Hearing Aids
Home Care
Hospital Services
Labor and Delivery
Laboratory Fees
Lead-Based Paint Removal
Learning Disability / Special Education
Lifetime Care – Advance Payments
Long-Term Care
Medical Services
Medicines / Drugs
Mentally Retarded, Special Home for
Nursing Home
Nursing Services
Operations
Optometrist
Organ Donors
Osteopath
Oxygen
Prosthesis
Psychiatric Care
Psychoanalysis
Psychologist
Stop-Smoking Programs
Surgery
Therapy
Transplants
Vision Correction Surgery
Wheelchair
Wig
X-ray

Future value of money calculator for H S A contributions.

http://www.hsabank.com//hsabank/education/futurevalue.aspx

Click here to start shopping for your HSA or call us at (866) 577-3620.

Shop online; http://www.myhealthquoter.com/healthsavingsaccount.html

Health insurance, medical insurance ohio, medical ira, health savings account, HSAs and travel insurance, international travel insurance, trip cancellation insurance, individual health insurance quotes for Ohio including: Akron, Canton, Columbus, Cincinnati, Cleveland, Dayton, Toledo.

Frequently searched terms; COBRA, COBRA Subsidy, COBRA Subsidy Extension, Dublin Ohio Health Insurance, Ohio Health insurance, affordable medical Insurance ohio, and individual health insurance quotes for Ohio including: Akron Health Insurance, Canton Health Agents, Columbus Ohio Health Insurance, Cincinnati Health Insurance, Cleveland, Dayton, Toledo.

Navigating Health Reform (Part 2 of 7)

We can all agree our current system has its flaws.  Do you favor high taxes and larger bureaucracies to help offload some of the costs and adminstration of Health Reform implementation?  Or do you prefer an more Laissez-faire approach to the market place.   Leave a comment below and let us know how you feel?  Our current systems needs fixing but we can’t seem to agree about the best way to move forward. 

The PAPACA Health  won’t be cheap, below are the ways we will pay for it.

  • 0.9% Additional Medicare tax on earned income (2013) –Due on earned income in excess of $200K for single taxpayer or $250K for married filing jointly or $125K married filing separately.
  • 3.8% Medicare tax on unearned income (2013) –Due on un-earned income on individual taxpayers with a  modified adjusted gross income of in excess of $200K for single taxpayer or $250K for married filing jointly or $125K married filing separately. •Consult your tax professional
  • Tanning tax 10% (2010)
  • Annual Pharma fee (2011 ) begins in at 2.5Billion ($27B)
  • Annual Medical Device fee (2012) 2.3% of sales ($20B)
  • Annual Insurer fee (2014) ($60B)
  • Cadillac Tax, (2018) 40% excise, ($32B)
Is Health Reform Unconstitutional?

Individual Mandate in the courts

What a lot of people don’t tell you is that affordable coverage has been thriving in the individual and family health insurance market for years.

What if you could instantly get online competitive quotes direct from all major health insurance carriers?  Imagine the savings. 

What if you could immediately choose the right plan for yourself, apply online, pay online and never have to talk to a broker (unless you wanted to)?  Think of the convenience.

 Simply follow these safe and secure links to APPLY for your health insurance plan today. 

 If you already know what you want and are ready to apply, you can have the confidence to know that using our links provides access to the states lowest rates.

Anthem Blue Cross & Blue Shield: http://bit.ly/e6jBwk (get effective dates as soon as tomorrow)

United Health, Golden Rule: http://bit.ly/i1g22y (30 day waiting period)

AETNA:  http://bit.ly/gWZG03 (1st and 15th effective dates)

Medical Mutual:  http://bit.ly/i3XWUL (effective dates as soon as tomorrow)

www.MyHealthQuoter.com is in the business of helping people like you stay healthy – while offering protection from the financial risk of high medical costs.

 Our services are free to use and we have plans specifically designed for Individuals and Families – for almost every situation.

 • Leaving an Employer Plan

• Alternative to COBRA coverage

• Becoming Self Employed

• Student no longer eligible under their parents’ plan • Early Retirees • Lower costs on Dependent Coverage

Our Individual plans operate in much the same way as health coverage through an employer – with copays for doctors’ visits, prescription drug coverage, choices for high- or low-deductibles, wellness extras – even optional Health Savings Accounts (HSAs) that make it easier to set aside tax-free money for out-of-pocket medical expenses.

In addition to health plans, Dental and Life insurance products are also available.

I guarantee you can’t buy health insurance for less anywhere else.   Shop the market from all of the major carriers and save by calling us at  (866) 577-3620 or by visiting http://www.MyHealthQuoter.com to obtain a no-obligation quote.

I hope to hear from you soon.

Matthew Byrne, President

(866) 577-3620

Instant Health Reform Compliant Quotes, Compare and Save

http://www.MyHealthQuoter.com

This is part of a 7 part series called Navigating Health Reform, please review some of our past entries.

Part 1: http://www.ohioindividualhealthinsurance.net/?p=422
Part 2: http://www.ohioindividualhealthinsurance.net/?p=432
Part 3: http://www.ohioindividualhealthinsurance.net/?p=437
Part 4: http://www.ohioindividualhealthinsurance.net/?p=444
Part 5: http://www.ohioindividualhealthinsurance.net/?p=510
Part 6: http://www.ohioindividualhealthinsurance.net/?p=524
Part 7: http://www.ohioindividualhealthinsurance.net/?p=625

Listen to my internet radio program about ohio health insurance, tune in live or listen to a recording;

Listen to internet radio with spiralight on Blog Talk Radio