In honor of Halloween, we’re having a little fun with the blog today. Below are three COBRA administration horror stories that just might be scarier than the ghosts and goblins knocking on your door this week.
The COBRA Blog
COBRA CONUNDRUMS reprinted from the July, 2013 issue of Health Insurance Underwriter Magazine featuring our very own Robert Meyers.
Business owners across the country got some unexpected breathing room last week when the Obama administration announced it would delay implementing the employer mandate under the Affordable Care Act (ACA) until 2015. Technically, you’re still supposed to provide coverage for full-time workers starting January 1, 2014 if you have 50 or more employees. But if you don’t, you won’t be penalized for another year.
With our economy ever in flux, it’s not unusual for a small business to be juggling several COBRA participants at any given time. As your HR department has probably surmised by now, communicating with former employees and retirees is not the easiest task - and getting them to make their COBRA payments in a timely manner can be especially time consuming.
The changing landscape of health care has many employers redefining their health care management strategies. A growing majority are turning to wellness incentives and penalties to proactively keep their employees healthy. In fact, the number of employers planning to implement wellness programs next year is expected rise considerably according to a forthcoming 2013 health care survey by Aon Hewitt due out in April.
The Health Insurance Exchanges required under the Patient Protection and Affordable Care Act are beginning to show signs of interest among Americans—nearly half—according to the J.D. Power and Associates 2013 Member Health Plan Study released just last week.
The Pre-Existing Condition Plan (PCIP) — which allowed those with pre-existing health conditions the ability to obtain insurance if they had been denied coverage — has cut benefits for enrollees and suspended the processing of new applicants in 23 states effective immediately.
Most of your employees understand that if they lose their jobs, they have options available that will allow them to continue their health care benefits. But if an employee faces a long-term disabling injury or illness and must stop working, the options may be less clear. There are critical time limitations when it comes to maintaining their health care coverage—especially when applying for Social Security Disability benefits.
We’ve all heard of ROI, but are you familiar with the new acronym – ROO? It stands for “Return on Outsourcing.” It may not be on your business radar, but it should be. Faced with fierce competition and a fickle economy, many companies are honing efficiencies to gain a competitive edge. In many cases, that means focusing on your strengths and outsourcing your weaknesses … and outsourcing COBRA administration.