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Posts Tagged ‘Aflac’

4 Surprising Things Medicare Doesn’t Cover (and How You Can Pay for Them)

Wednesday, March 8th, 2017

The Motley Fool reports:

“Medicare covers more than 54 million beneficiaries, around 77% of whom are happy with their insurance. Yet this vital social program doesn’t cover every single beneficiary’s needs. If you’re covered by Medicare, or will be soon, it’s important to understand both its benefits and its limitations.

Medicare Part A pays for inpatient hospital care, skilled nursing care, hospice care, and home healthcare. Part B covers 80% of most routine care, but many Medicare recipients eventually experience a health need Medicare won’t cover. It helps to know what kinds of things Medicare won’t pay for and plan ahead for costs.

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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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Most employers to reject private exchanges

Friday, October 17th, 2014

Benefits Pro reports:

“Oops. The private exchange juggernaut may have just hit a bump in the road to success.

Myriad studies have tried to fathom whether major employers will decide to shift their employees to the growing number of private health exchanges. Some research has suggested shifting workers to a private exchange model will result in health coverage cost savings for employers.

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Smart Apps vs. Obamacare

Wednesday, September 3rd, 2014

Insurance News Net reports:

“The Affordable Care Act locks in the status quo, but new technology is making health care cheaper and more individualized.

Health care costs in the U.S. have been rising so steadily for so long that containment barely seems possible. Even optimists don’t dream of cutting the price tag. As its official name-the Patient Protection and Affordable Care Act-suggests, Obamacare aims for affordability, not radical reduction.

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Beware pitfalls of health care subsidy: Spike in income could spell big tax bill

Thursday, June 26th, 2014

The Chicago Tribune reports:

“Individuals receiving monthly premium subsidies to pay for health coverage purchased on the new exchanges should keep their eye out for Uncle Sam. You could owe a big tax bill on your 2014 return next spring if your income rises during the year and you don’t report the change to the exchange.

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The aftermath of the employer responsibility ruling

Tuesday, February 18th, 2014

Employee Benefit Adviser reports:

“The U.S. Treasury Department and Internal Revenue Service issued the final regulations on the employer mandate under the Affordable Care Act this week. While the pay-or-play rules got a little delay, and some revisions will be debated for weeks to come, here are the nuts and bolts of the full regulation: (more…)

Aflac 1Q Profit $892M, To Pay 35 Cents Per Share Dividend

Monday, May 13th, 2013

Insurance News Net reports:

“Steady as she goes.

That was the case Wednesday with Aflac Inc. reporting first-quarter net income, or profit, of $892 million, an increase of nearly 14 percent from $785 million in the same period a year ago.

That translated to earnings of $1.90 per diluted share for the January-March timeframe, up from $1.68 a year ago.

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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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