Key deliverables in ACA implementation
As the slow march continues to implement the ACA, we should all be reminded that there are key deliverables for clients and their advisers to focus on. But while focused on the ACA, let’s not forget that there are additional bills being implemented or introduced — not just at the federal level — that impact a business in how it pays its employees, how their jobs are classified, and how an employer may consider managing its workforce.
With respect to the ACA, the recently delivered 1094 and 1095 tax reports require attention now be directed at preparing for the 2016 reporting year. Specifically, clients and advisers should:
- clean up data sources so the process is efficient and forms are accurate this upcoming year;
- address evolving rules / requirements for reporting and be sure the client is ready;
- advisers and clients should be prepared to deliver within the timeframes communicated, while clients should not assume that filing extensions will be available this upcoming year.
Other legislation
Also, as a client focuses on the ACA, they should direct their attention to the new rules related to white collar exemption status under the Fair Labor Standards Act wage and overtime rules, assuming it applies to them. For some clients this may represent a significant adjustment in how they classify an employee including a review of benefit eligibility for any re-classifications, write a job description, pay or compensate an employee, and manage their workforce. For most employers these rules apply starting this upcoming Dec. 1, 2016.
In some states and cities, bills addressing mandatory paid leave policies are continuing to be introduced and passed to compensate employees for time away. Not all states are focused on this. At the federal level, proposed bills have been considered and are currently in committees but are stalled. It is clear the trend to introduce and put these rules and regulations into place is growing. It would be prudent to monitor the situation.
Lastly, clients will still require advice and guidance on how to manage their employee benefit costs to a budget and to have a plan that attracts and retains employees while remaining cost competitive in a competitive marketplace.
See the original article Here.
Source:
Braun, P. (2016 October 25). Key deliverables in ACA implementation. [Web blog post]. Retrieved from address https://www.employeebenefitadviser.com/opinion/key-deliverables-in-aca-implementation
6 new solutions for benefits brokers and HR managers
Benefits brokers and HR benefits managers, you’re stressed, and for good reason.
So maybe you didn’t catch these new or redesigned HR and benefits-oriented products or announcements recently. Here they are, just in time for open enrollment.
#1: Help with open enrollment
Open enrollment can be confusing for employees, many of whom can't even define what "deductible" means. (It's true -- someone, somewhere, has studied this and counted the number of people who don't understand the concept.) PlanSource, a provider of cloud-based benefits and human capital management software, has created what it calls "an Open Enrollment Communications Kit" to help with this challenging time.
The kit is for brokers, human resources teams, and benefits professionals who need to communicate benefits information to employees.It includes examples of daily emails and text messages, customizable posters, flyers and postcards in a variety of themes, educational videos and messaging templates.
A sample timeline can help with marketing a communications campaign from beginning to end of open enrollment. The kit can be seen in a webinar you sign up for. Access it at the PlanSource website.
#2: Managing the hiring, onboarding, and benefits process
Isn't it gratifying when computers can actually take on duties you find tedious? Unless you find the onboarding and data entry process extremely interesting and life-affirming, of course. Software from Flock helps manage HR, benefits, and compliance, and now it's adding an applicant tracking system from Greenhouse for hiring, onboarding, and managing employees.
The partnership will let HR import candidate information into Flock, with the goal of streamlining the hiring and onboarding process. The HR platform is available for small to midsize businesses and insurance brokers can subsidize or sponsor the benefits administration module. Learn more at the Flock website.
#3: 5 ACA plans to be offered to Arizona residents
Okay, technically it's not a solution. Still, someone you know might want to know that five different Affordable Care Act plans will be available during open enrollment from Blue Cross Blue Shield of Arizona (BCBSAZ).
The five include EverydayHealth, Portfolio and SimpleHealth. Members who enroll in the plans use their primary care provider to coordinate their care. The ACA plans will be offered in 14 of Arizona's 15 counties, and, as you know, open enrollment runs from November 1, 2016 through January 31, 2017.
To help find the right plan, Blue Cross Blue Shield is pointing Arizonans toward their local broker or to Cover Arizona.
#4: Online benefits administration
This is the year of partnering in the benefits industry. Employee benefits, HR and payroll provider BenefitMall is partnering with EaseCentral to offer additional online benefits administration.
The goal is to help with completing enrollments in a timely way. Brokers will now be able to choose between EaseCentral's all-in-one software solution and BenefitMall's online benefits administration system, EmployerFocus. Learn more at the BenefitMallwebsite.
#5: New option to enroll employees in voluntary benefits
Did we mention partnering? Yes? Transamerica is partnering with Maxwell Health to expand enrollment options for key employee benefits.
The partnership will enable Transamerica to offer help to employers in streamlining enrollment, administration, reporting, communication, and engagement processes, while allowing benefit advisors to browse, compare and quote benefits in an intuitive way. To learn more, see the Transamerica website or call 866-872-6726.
#6: New ACA compliance and reporting solutions
Affordable Care Act reporting is pretty darn fun. Still, there's probably something else you'd rather be doing, like going to the dentist for a root canal. This newly designed product from SyncStream Solutions offers both Affordable Care Act compliance and reporting.
The new solutions were designed to meet compliance requirements through a guided workflow that marries employer data with ACA analytics to achieve ACA compliance and provide the assurance of auditability.
SyncStream's product offers employee tracking and ACA full-time status determination, generates the proper forms to meet IRS requirements, populates IRS indicator codes based on business logic, and normalizes employer data into ACA-compliant language, among other features. For more information, visit the SyncStream Solutions website.
See the original article Here.
Source:
Marwitz, C. (2016 October 24). 6 new solutions for benefits brokers and HR managers. [Web blog post]. Retrieved from address https://www.benefitspro.com/2016/10/24/6-new-solutions-for-benefits-brokers-and-hr-manage?kw=6+new+solutions+for+benefits+brokers+and+HR+managers&et=editorial&bu=BenefitsPRO&cn=20161025&src=EMC-Email_editorial&pt=Daily&page_all=1
Bring out the appetizers Karie!
This month, we are bringing you some food favorites of our own Karie Waddell Gallo!
Karie joined Saxon Financial Consulting in April of 2003 as our Office Manager. Karie is now our Director of Individual Insurance and Medicare Benefits.
When it comes to eating out, her favorite spot is the Wild Ginger Asian Bistro here in Cincinnati. "Their Crispy Pad Thai is soooo delicious. Because I am not a 'spicy' food lover, they allow you to customize your level of spice. This makes it perfect for each individual. The sushi is quite good also. Lots of variety to choose from."
"When we have a “Dine In” night we usually invite family over for “Appetizer Night”. Our favorites include: Buffalo Chicken Dip, Hanky Panky, Boneless wings and our All-time Favorite “Go to” Dish: Swiss Cheese Bacon Dip. It is best served warm and gooey. We prefer Town House Crackers for dipping."
Here's what you'll need:
- 8oz of whipped cream cheese
- 1/2 cup of mayo
- 2oz of chopped green onion
- 1 1/2 cup shredded swiss cheese
- 1 pack real bacon bits
Here's how Karie does it:
- Preheat oven to 350 degrees Fahrenheit.
- Mix cream cheese, mayo, green onion, and swiss cheese together in a flat cooking dish.
- Sprinkle the bacon bits over the top.
- Bake for 20-25 minutes or until the cheese is bubbling.
With a great appetizer, who needs a main course? This looks yummy Karie!
Study: What benefits do employees go for on private exchanges?
Jack Craver gives insight on the best benefits options for private exchanges
A new study offers insight into the types of benefits and benefit designs employees go for when given the choice.
The study, by the Private Exchange Research Council, analyzed hundreds of thousands of benefit purchases made by workers whose employer offers benefits through a private exchange.
The average employer that uses a private exchange offers 14 different benefits and six medical plans, the study found. Employees purchased an average of 4.4 products in 2015, up from 3.6 the previous year.
Older workers are more likely to buy more coverage, with 44 percent of Gen Xers and 42 percent of baby boomers buying more than four products, compared to only 30 percent of millennials.
While employers are increasingly demanding that employees accept high-deductible health plans accompanied by a health savings account, the majority of workers analyzed in the study appear to have traditional health plans, although the percentage with HSAs is rising. Forty-two percent of employees had an HSA in 2015, up from 38 percent in 2013.
Those who opt for high-deductible HSA-qualifying plans tend to be younger and healthier; that’s no surprise. However, the study also found that men and high-paid employees tend to favor such plans more than women and lower-paid employees.
Perhaps surprisingly, the study also found that nontraditional insurance products, such as pet insurance, legal insurance and identity theft insurance, are more likely to be offered by smaller companies.
Private exchanges and the employers that use them describe them as a way to increase employees’ engagement with their benefits. In a health care system that many have argued is overpriced and inefficient because the costs have been hidden behind health plans largely paid by employers, private exchanges are touted as a way to make individuals more sophisticated health care consumers that make conscious decisions about what services they want and need.
Private exchanges got a big boost earlier this year when Starbucks announced that it would be offering its employees an array of health plans to choose through an exchange run by Aon.
In a statement accompanying the study’s release, Christopher Condeluci, one of the principals of Private Exchange Research Council, described the group and its research as addressing a lack of data on the types of benefits that individual consumers favor.
"Knowing what plans people want and how they choose them will go a long way in helping the benefits industry better meet employers' and employees' needs,” he says.
See the original article Here.
Source:
Craver, J. (2016 October 20). Study: what benefits do employees go for on private exchanges? [Web blog post]. Retrieved from address https://www.benefitspro.com/2016/10/20/study-what-benefits-do-employees-go-for-on-private?kw=Study:%20What%20benefits%20do%20employees%20go%20for%20on%20private%20exchanges?&et=editorial&bu=BenefitsPRO&cn=20161024&src=EMC-Email_editorial&pt=Daily
15 voluntary benefits trends heading into 2017
Alan Goforth lists the top benefits trends of 2017.
Predicting industry trends is as much a sign of the end of the year as after-Christmas sales and New Year's resolutions.
Although predicting the future is only an educated guess, one thing is certain — voluntary benefits are here to stay.
Carriers, brokers, employers and workers all give a thumbs-up to the increased flexibility and opportunities for cost control they bring to benefits packages.
Here is what may lie over the horizon in 2017.
THE MARKET IS BULLISH
As a result, the quantity and quality of voluntary benefits will continue to grow. Examples of traditional voluntary benefits employers are likely to add include gap coverage, short-term disability, cancer, critical illness, prescription, dental, life insurance and hospital supplemental policies. Brokers should make sure they have these products in their portfolios.
WELLNESS PROGRAMS GET FISCAL
Most businesses understand that the size of an employee's waistline can correlate to attendance, productivity and turnover. Many also are starting to realize the link between the size of their bank account and job performance.
Smart employers are adding voluntary benefits that can help workers reduce stresses associated with finances and debt. These can include financial education, financial counseling, employee purchase programs, parental leave, retirement planning and even short-term loans under certain circumstances.
A-WEAR-NESS IS INCREASING
Technology is taking the guesswork out of employee wellness programs. Nearly two-thirds of carriers surveyed expect wearable technologies to have a significant impact on their industry, according to Accenture's annual Technology Vision report. Fitbits and similar devices enable employees to quantify the results of their effort, which both inspires them and provides employers valuable feedback about the effectiveness of their programs. An increasing number of businesses now subsidize the cost of wearable devices or set up payroll deductions to cover the expense.
ENGAGEMENT GOES HIGH-TECH
Year-in and year-out, HR professionals cite employee engagement as one of their most vexing issues. Traditional tactics are becoming less effective with millennial employees, who often prefer voluntary benefit portals and enrollment platforms.
"Millennials get information on their own," said Aprilyn Chavez Geissler, owner of Geissler Agency Inc. in Albuquerque. "However, when it's time to purchase, they still want the personal service and an advisor to help them. As a large demographic, they are similar to the silent generation in that they think through their purchases and do research on their own."
CRITICAL ILLNESS REACHING CRITICAL MASS
Critical illness insurance was once a blip on the radar screen of voluntary benefits packages — but not anymore. It is becoming an increasing popular option as the workforce ages and companies reduce primary health coverage and shift the cost of primary medical onto
“Critical illness insurance is by far the fastest-growing insurance product on the market," said Mark Randall, a researcher for GoldenCare in Minneapolis. "Even though the market share is still fairly small, it's a hot product. The bottom line is that every broker should add this product to their portfolio.”
VOLUNTARY BENEFITS REDEFINED
One sure sign of growing demand for voluntary benefits is the fact that many definitions have become obsolete. In the past, voluntary benefits were limited to such bread-and-butter options as dental or vision insurance. Today, however, they are all about lifestyle benefits, such as health club memberships, legal services or pet insurance. A good working definition of a voluntary benefit is anything that can be deducted from an employee's paycheck.
CONSUMERS DRIVE PLANS
A well-designed consumer-driven health plan creates a win-win scenario. Employers hold the line on costs, and employees pay only for the coverage they need and want. This can mean a transition to high-deductible health plans and health savings accounts or health reimbursement arrangements that help employees pay their out-of-pocket expenses and allow them to retain unspent contributions.
TOOLS PROMOTE TRANSPARENCY
Information is a double-edged sword: Employees can be overwhelmed by the voluntary benefit options available to them, but they are also empowered to make smart choices. Benefits providers, brokers and employers are providing user-friendly tools that increase transparency. Studies show that this is especially important to younger workers.
Fifty-two percent of millennials report searching online for health or care-related information, and reliance on social media, patient portals and performance scorecards is growing. One-quarter of consumers say they have looked at a scorecard or report card to compare the performance of doctors, hospitals or health plans, compared to 19 percent two years ago. Among millennials who need medical care, scorecard use has grown from 31 percent to 49 percent.
THE DOCTOR WILL SEE YOU… ONLINE
Telemedicine is a natural byproduct of increased telecommuting. The practice is both a cost-effective option for employers and a perk for employees who are paying more out of pocket for health care. On-call services can bring virtual health care providers into the office with advice about preventive care and nonthreatening illnesses.
ANALYTICS REDUCING GUESSWORK
Anyone remotely involved in the benefits business knows that the industry is swimming in tons of data. Innovative employers are putting this information to work to design better plans that improve health care and reduce expenses. Claims data and historical use patterns demonstrate how much employees can save on new plans by making better decisions. This information also helps employers get a better handle on plan costs, employee adoption and administrative efficiency.
NONTRADITIONAL BENEFITS BOOMING
Employees continue to express interest in new, nontraditional voluntary benefits, and carriers are responding. According to a study by Eastbridge Consulting, 13 percent of employees have selected employee purchase programs; 8 percent have selected legal plans; 3 percent have selected identity protection; and 1 percent selected pet insurance. The relatively low numbers reflect the fact that these options are new, according to researchers.
These percentages are expected to grow. Nontraditional voluntary benefits offer workers a way to obtain products and services through convenient payroll deduction. Most nontraditional offerings provide immediate, tangible benefits that can be used any time, unlike many core benefits that employees need only when they are sick or injured.
CAREER DEVELOPMENT IS HOT
Employees are eager to improve themselves, especially if doing so is cost-effective. Financial planning and online educational services, including college courses, certifications and career development, are becoming popular. Look for more of these, such as Graduate Management Admission Test prep and Graduate Medical Education courses, to be added.
MINIMUM WAGE HIKES MAY SPIKE DEMAND
Although the drive toward a $15 per hour minimum wage in some cities has been controversial, it may have an upside in demand for voluntary benefits.
"With the California minimum wage going to $15 an hour, those employees will have extra money to opt for more voluntary benefits," said Wayne Sakamoto, owner of Health Insurance Interactive Inc. in Naples, Florida. "This extra money will help them get into a nicer apartment, buy a home, get a car or opt to purchase more voluntary benefits. Benefits such as dental and vision insurance are a goodwill gesture by the employer."
DEMAND CREATING COMPETITION
Brokers, employers and workers all may benefit from the increasing number of carriers offering voluntary benefits.
"Brokers now have a lot more different carriers in voluntary benefits than they did several years ago," said Kathy O'Brien, vice president of voluntary benefits and national client group services for Unum in Chattanooga, Tennessee. "They have to be very knowledgeable about the carrier, what they will do to meet the needs of their clients and what types of service they offer, not just in enrollment but also in plan administration, how they will deliver the services, how they will pay and handle billing information."
VOLUNTARY BENEFITS MUST BE INTEGRATED
A well-designed package of voluntary benefits is more efficient when integrated seamlessly with traditional benefits, and not merely tacked on. Learning how best to do this is an ongoing challenge.
"Understanding how all of the different solutions work together is critical, especially when paired with a high-deductible health plan," said Paul Goedde, executive vice president of the Voluntary Employee Benefits Board and product management lead for Cigna in Philadelphia. "Not only does it help the employer attract and retain talent, it helps them manage their bottom line with more-productive and satisfied employees."
See the original article Here.
Source:
Goforth, A. (2016 October 25). 15 voluntary benefits trends heading into 2017. [Web blog post]. Retrieved from address https://www.benefitspro.com/2016/10/25/15-voluntary-benefits-trends-heading-into-2017?kw=15+voluntary+benefits+trends+heading+into+2017&et=editorial&bu=BenefitsPRO&cn=20161025&src=EMC-Email_editorial&pt=Daily&page_all=1
ACA exchanges report strong early application activity
Busy start to the 2017 open enrollment period 50 percent higher than last year, by Allison Bell
Managers of HealthCare.gov say the open enrollment period for 2017 has gotten off to a busy start.
The level of activity during the first six hours of the open enrollment period was 50 percent higher than during the comparable period in 2015, and HealthCare.gov took in 150,000 coverage applications during the first full day of the enrollment period, according to officials at the U.S. Department of Health and Human Services.
HHS set up HealthCare.gov to provide Affordable Care Act exchange enrollment and account administration services in states that are unable or unwilling to handle that job themselves.
The open enrollment period for 2017 started Tuesday.
A year ago, HHS officials said HealthCare.gov had taken in about 250,000 coverage applications during the first full day of the open enrollment period for 2016.
MNsure, Minnesota's state-based exchange enrollment system, was down much of the day yesterday because of some combination of heavy volume, technical glitches and efforts by ACA opponents to crash the system by flooding it with visits. In spite of the technical problems, about state residents used the system to apply for coverage for about 5,000 people, according to the Twin Cities Pioneer Press.
MNsure may have spurred consumers to try to sign up for exchange plan coverage early by announcing that it will impose enrollment caps for 2017 on coverage from most participating carriers. Blue Plus is the only exchange issuer selling coverage without protection from an enrollment cap.
George Kalogeropoulos, the chief executive officer of HealthSherpa.com, a San Francisco-based "Web broker entity" that helps retail insurance agents and brokers submit ACA exchange coverage applications for their customers, says HealthSherpa.com activity levels support the idea that the ACA exchange system has been very busy.
"As of day two of open enrollment, the traffic on HealthSherpa.com has been through the roof," Kalogeropoulos said in an email. "We know HealthCare.gov is getting 50 percent more website visits compared to last year, and our website is experiencing that surge as well."
See the original article Here.
Source:
Bell, A. (2016 November 04). ACA exchanges report strong early application activity. [Web blog post]. Retrieved from address https://www.lifehealthpro.com/2016/11/02/aca-exchanges-report-strong-early-application-acti?slreturn=1478548849
Court denies NAFA in DOL fiduciary rule case
Department of Labor fiduciary rule survives its first challenge, by Nick Thornton
The National Association for Fixed Annuities has lost its challenge to the Department of Labor’s fiduciary rule.
In a decision issued today in the United States District Court for the District of Columbia, Judge Randolph Moss denied NAFA’s motions for a preliminary injunction and summary judgment.
Among other things, NAFA claimed DOL violated the Administrative Procedure Act when it shifted the regulation of fixed indexed annuities to the rule’s Best Interest Contract Exemption. In the proposed version of the rule, FIAs were scheduled for regulation under the less restrictive Prohibited Transaction Exemption 84-24.
In shifting FIAs to the BIC exemption in the final rule, NAFA argued industry was not given adequate notice to comment on the implications, as the APA requires.
But Judge Moss cited case law showing that a final rule “need not be the one proposed” in the rulemaking process.
“It is enough that the final rule constitute a logical outgrowth” of the proposed version, wrote Moss.
Moss reasoned that NAFA was given adequate notice that the Department was considering regulating FIAs under the BIC exemption when it explicitly sought comments on whether annuities were adequately regulated in the proposal.
NAFA argued the proposal gave “no inkling whatsoever that the Department was considering moving FIAs from PTE 84-24 to the BIC.”
But Moss ruled that NAFA’s reading of the proposal, and DOL’s request for comment on the viability of how annuities were treated, was “not tenable.”
“The Department expressly requested comment on its decision to ‘continue to allow IRA transactions involving’ fixed indexed annuities ‘to occur under the conditions of PTE 84-24,” wrote Moss.
“That is, it (DOL) asked whether fixed indexed annuities should be grouped under PTE 84-24 or not,” added Moss. “And, if there were any doubt on this, it would be put to rest by the fact that NAFA, along with other industry groups, provided comments on that very issue.”
Full analysis of the ruling will follow.
See the original article Here.
Source:
Thornton, N. (2016 November 04). Court denies NAFA in DOL fiduciary rule case. [Web blog post]. Retrieved from address https://www.benefitspro.com/2016/11/04/court-denies-nafa-in-dol-fiduciary-rule-case?ref=hp-news&slreturn=1478547367
Beware: Losing health plan grandfathered status is an administrative nightmare
Some interesting points on grandfathered status' from HRMorning, by Jared Bilski
Employers that have managed to keep their grandfathered status until now may think they’re immune from the hassles of the ACA, but a recent DOL investigation is a good reminder that the feds are always watching for a slipup.
Sierra Pacific Industries Health Plan was one of the few remaining grandfathered plans in existence, and they managed to keep that status for years after the ACA took effect.
But, according to a DOL investigation, the plan made some changes beginning on Jan. 1, 2013, that prevented the plan from keeping its grandfathered status and led to a relinquishing of that status in the feds’ eyes.
Those plan changes, as well as how the plan made determinations on employee health claims, violated both the ACA (specifically the provisions on preventive health services and internal claims and appeals rules) and ERISA, the DOL claimed.
‘Operating as though it were exempt’
As the DOL’s Assistant Secretary of Labor for Employee Benefits Security Phyllis C. Borzi said:
“The Affordable Care Act put into place standards and protections for workers covered by employee benefit plans. The Sierra Pacific plan was operating as though it was exempt from such requirements, when indeed, it was not. This settlement means that workers improperly denied health benefits will have their claims paid. Corrections made to plan procedures will also mean that all future claims are processed and paid properly.”
No premium or deductible bumps
The end result of the feds’ investigation: A lot of administrative work and changes for Sierra Pacific.
As part of the settlement, plan fiduciaries agreed to comply with the ACA requirements for non-grandfathered plans moving forward, specifically the rules for internal claims and appeals and coverage of preventive health services.
Plus, for the 2017 plan year, the company will have to forgo any increases to participant premiums, annual out-of-pocket limits, annual deductible and coinsurance percentages in effect for the 2016 plan year.
On top of all that, the company agreed to:
- Revise plan documents and internal procedures.
- Re-adjudicate past claims for preventive services, out-of-network emergency services, claims affected by an annual limit and pay claims in compliance with the ACA and ERISA.
- Submit to an independent review organization claims were eligible for external review.
- Pay claims that had been left on hold for a long time.
- Comply with timelines for deciding claims as provided in the department’s claim regulation.
See the original article Here.
Source:
Bilski, J. (2016 October 14). Beware: losing health plan grandfathered status is an administrative nightmare. [Web blog post]. Retrieved from address https://www.hrmorning.com/beware-losing-health-plan-grandfathered-status-is-an-administrative-nightmare/
ACA premiums to rise 25 percent in biggest jump yet
Zachary Tracer clarifies on ACA premiums rising yet again.
Originally posted on BenefitsPRO.com
Posted October 25, 2016
Premiums for mid-level Obamacare health plans sold on the federal exchanges will see their biggest jump yet next year, another speed bump in the administration’s push for enrollment in the final months of the U.S. president’s term.
Monthly premiums for benchmark silver-level plans are going up by an average of 25 percent in the 38 states using the federal HealthCare.gov website, the U.S. Department of Health and Human Services said in a report today. Last year, premiums for the second-lowest-cost silver plans went up by 7.5 percent on average across 37 states.
Individuals signing up for plans this year are facing not only rising premiums, but also fewer options to choose from after several big insurers pulled out from some of the markets created under the Affordable Care Act, known as Obamacare. While the ACA has brought uninsured numbers to record lows in the U.S., millions remain uninsured. To attract more people, the government has emphasized that subsidies are available for many people to help cushion the premium increases.
Protecting consumers
About 77 percent of current enrollees would still be able to find ACA plans for less than $100 a month, once subsidies are taken into account, according to the report. Subsidies are calculated based on the cost of the second-lowest-premium silver plan in a given area. Silver plans typically cover about 70 percent of an individual’s medical expenses, though additional subsidies can help make the coverage more generous for lower-income individuals.
“Even in places of high rate increases this year, consumers will be protected,” Kathryn Martin, assistant secretary for planning and evaluation at the health department, said on a conference call with reporters. Her message to consumers is to check if they are entitled to subsidies and shop for options: “The odds are good you’ll find plans more affordable than what the public debate about the ACA might lead you to expect.”
Changes in the cost of the benchmark silver plans varied widely among regions, and the median benchmark premium increase was 16 percent. Premiums actually declined about 3 percent in Indiana, to $229 a month. In Arizona, on the other hand, the benchmark premium more than doubled, from $196 a month to $422, the report shows.
The data released Monday confirm reports based on state regulatory filings that have been accumulating for months, showing much higher premiums for 2017. ACASignups.net, which tracks the health law, had also estimated a 25 percent rise in premiums on average, weighted by membership.
Silver plans are mid-level on Obamacare’s marketplaces, with other plans including bronze, gold and platinum.
The government data show that some people may be able to find lower-cost plans by switching from their current coverage. The U.S. said that if all people who currently have ACA plans switched into the cheapest option of the same “metal” level, they could cut their premiums by 20 percent. Some people will have to switch because their plan will no longer be offered.
See the original article Here.
Source:
Tracer, Z. (2016 October 25). ACA Premiums to rise 25 percent in biggest jump yet. [Web blog post]. Retrieved from address https://www.benefitspro.com/2016/10/25/aca-premiums-to-rise-25-percent-in-biggest-jump-ye?kw=ACA%20premiums%20to%20rise%2025%20percent%20in%20biggest%20jump%20yet&et=editorial&bu=BenefitsPRO&cn=20161025&src=EMC-Email_editorial&pt=News%20Alert
For Jamie, Chili Time Is Family (and Football) Time
This month, we are bringing you some food favorites of our own Jamie Charlton!
Jamie is the founding partner and CEO of Saxon Financial Services. He graduated from the University of Michigan in '98 and has been in the Financial Services industry ever since. Did we mention he's a Wolverines fan?
When it comes to eating out with the family, The Silver Springhouse is the place to go. "If we have kids, it is an easy decision as we are usually coming from a ball field or a gym. We like it because the atmosphere is fantastic, especially in the summer time, allowing for a relaxing place to take the whole family. We really don’t have a favorite dish because we like chicken and you have a hard time getting bad chicken at the Springhouse, thus we like most everything!"
At home, he enjoys making big family meals and his Homemade Texas Chili pairs perfectly with fall weather and football season! "It is a great family activity because the kids each have a task. As it cooks, we head out to rake the leaves and just as the Michigan game is about to start we all come in, grab a bowl to warm up and have a great time cheering the Wolverines to victory!"
For the recipe, Jamie doesn't really measure and ultimately it's all up to his taste buds, but below you'll find the recipe for his Homemade Texas Chili. The amounts of each ingredient are really up to you!
Here's what you'll need:
- 1lb ground beef
- 1lb spicy sausage
- diced onion
- a few cloves of chopped garlic
- 2 cans of red kidney beans
- 2 cans of red chili beans
- 2 cans of stewed tomatoes
- 1 can of diced tomatoes
- 1 chopped bell pepper
- a container of mushrooms
- 1/2 a jalapeno
- 1 1/2 cup of chili powder
- 2 tablespoons ancho chili pepper
- Frank's Red Hot Sauce
- yellow mustard
- brown sugar
- Worchestshire Sauce
Here's how Jamie does it:
- Brown 1lb of ground beef and 1lb of spicy sausage - you can pick the spice level - at the same time, make sure to include a diced onion and a few cloves of garlic. (Stirring the meat while browning is a great task for a child).
- Once the meat is browned, everybody else jumps into the pool! Add 2 cans of red kidney beans, 2 cans of red chili beans, 2 cans of dark red kidney beans, 2 cans of stewed tomatoes, and 1 can of diced tomatoes. (The kids love to open the cans with an old fashion can opener).
- Add 1 chopped bell pepper (I use red because it blends in and the kids don't see it), a container of mushrooms, and 1/2 a jalapeno. (Chopping is a great activity for an older child).
- Now is the time where measuring goes out the window and cooking to taste begins!
- Add a 1 1/2 cup of chili powder, 2 table spoons of ancho chili pepper, 5-10 dashes of Frank's Red Hot Sauce, a long squeeze of yellow mustard, a handful of brown sugar, 5-10 dashes of Worchestshire Sauce.
- The best part is to taste as it cooks and adjust your flavor accordingly. Add more chili powder for spicy, sugar for sweet.
- Last step - get a bowl of chili, top with cheddar cheese, sour cream and get a bag of Frito Scoops instead of a spoon and enjoy the game!
- For adults, a nice red wine or lager complete the meal!
Can we have game day at your house, Jamie? Sounds like there's good food and good times to go around!