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Posts Tagged ‘accident’

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Friday, October 30th, 2015

Blue Cross and Blue Shield of Illinois

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Employer Paid Individual Health Insurance Policies Create the Potential for Significant Penalties, but Limited Relief is Available

Thursday, June 25th, 2015

National Law Review reports:

“Despite guidance from the Internal Revenue Service (“IRS”), the Department of Labor (“DOL”) and the Department of Health and Human Services (“HHS”) indicating the prohibition of the practice under the Affordable Care Act (“ACA”), some employers continue to reimburse employees for health insurance premiums. This practice could lead to thousands of dollars in penalties.

Notice 2015-17 is the IRS’ most recent guidance on such arrangements, reaching the same conclusions. It also, however, provides welcome penalty relief for certain employers.

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Workplace Voluntary Benefits

Monday, May 13th, 2013

In a time of turmoil in the insurance industry, one area remains untouched by the affordable care act, Workplace Voluntary benefits. Employers can offer to them attract and keep a quality workforce, and we see this as a new opportunity to help employers differentiate their benefit package with coverage for:
(click for videos)

The video below from Humana illustrates how voluntary benefits allow employees to pick and choose the benefits which are best for them and their families.

Other great reasons of offering Workplace Voluntary Benefits (WVB) are:

  • It does not cost a business owner anything to make WVB available. The policies are completely voluntary and paid for 100% by the employees.
  • WVB policies are affordable, with plans to fit most budgets.
  • Most WVB policies can be offered on a pre-tax basis, potentially providing tax savings to the employer and employees.

How does WVB help my employees?

  1. If your employee gets hurt or sick and can’t work, what money do they have coming in? These policies provide cash benefits directly to your employees, unless otherwise assigned, in their greatest time of need. If your employee has a covered injury or illness, these policies pay cash benefits they can use to help with out-of-pocket medical expenses of everyday living expenses such as mortgage or rent payments, groceries, or utilities.
  2. The benefits could help cover some of the lost wages if your employee has to take time off work to take care of a covered family member if they get sick or hurt.

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