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Posts Tagged ‘private exchange’

New Final Regulations Expand the Availability of HRAs

Wednesday, July 24th, 2019

JD Supra reports:

“On June 13, 2019, the Department of Labor, the Department of Health and Human Services, and the Department of Treasury (the “Departments”), published final regulations which significantly broaden the types of health plans that may be integrated with a health reimbursement arrangement (“HRA”). More specifically, beginning January 2020, the finalized rules allow HRAs to be integrated with certain qualifying individual health plan coverage and/or Medicare.  The final rules reverse current guidance which requires HRAs to be integrated with only qualifying group health plan coverage. Practically speaking, this means that employers, beginning in 2020, will be allowed to subsidize employee premiums in the individual health insurance market and/or Medicare using pre-tax dollars, provided certain conditions are met. The final rules also allow certain HRAs to reimburse participants for certain premiums paid for excepted benefits. To achieve these results, the final rules create two new types of HRAs.

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Employers reducing spousal, family coverage

Wednesday, December 17th, 2014

Benefits Pro reports:

“The evidence continues to mount that mid-to-large corporations will fine-tune, but won’t abandon, employee health plans.

A Towers Watson survey of 379 companies in that size range found, among other trends, that companies believe in providing health coverage, but want to be able to predict the cost of coverage.

To accomplish both, they are gradually shifting some costs to employees, eliminating some benefits, such as spousal coverage, and encouraging their workers to take more ownership of their health coverage to share in the economic risk of providing coverage.

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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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Employers not interested in PPACA exchanges

Friday, October 3rd, 2014

Benefits Pro reports:

“Nearly one in four employers say they may move their employees toprivate exchanges within the next few years, but virtually none of them are considering public exchanges under the Patient Protection and Affordable Care Act, new analysis from consulting firm Towers Watson finds.

The firm’s Health Care Changes Ahead survey of 349 HR professionals at mid- and-large-sized companies found that 24 percent of those surveyed believe a private exchange will be a viable alternative for providing employee health benefits by 2016.

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Employer health plans fading fast

Friday, April 4th, 2014

Benefitspro reports:

“Only a quarter of employers are certain they will still be offering company-sponsored health insurance a decade from now.

That’s down from 38 percent in 2010 and 73 percent in 2007, according to a survey by Towers Watson and the National Business Group on Health.

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Support For Employer-Provided Health Plans Starts To Erode

Wednesday, April 2nd, 2014

Insurance News Net reports:

“The rumblings of employees dissatisfied with the value of employer-sponsored health benefits are getting louder.

But are the grumblings loud enough for employees to put their money where their mouths are? Are employees willing to walk out the door and leave their employer-sponsored cocoons, tossing all the value talk out the window?

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Premiums see big jump in 2014

Wednesday, April 2nd, 2014

Benefits Pro reports:

“How much are consumers actually paying for insurance now that Obamacare is here?

That’s what private exchange operator eHealth wanted to find out. And with its new research, it found unless you have subsidies, health insurance on the individual market is much more expensive under PPACA.

On Wednesday it launched the eHealth Price Index, “the first and only tool of its kind that tracks on a daily basis the average monthly cost of individual and family health insurance for plans based on applications submitted nationwide through eHealth,” the company said.

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Five Things CEOs Should Know About Health Care Exchanges

Friday, February 15th, 2013

Forbes reports:

“Now that the 2012 presidential election is in our rear-view mirror, the Affordable Care Act (aka “Obamacare”) looks like it’s here to stay. With it comes an interesting decision for chief executive officers to make by 2014: Should your company keep its current health care plan, or opt out and allow employees to enter into consumer-directed health care exchanges?

Certainly, there is much at stake for C-level executives when it comes to health care reform and health care coverage in general. According to a 2012 study from Towers Watson, in 2013 the average cost of health benefits per employee will stand at $11,507, a 5% increase from 2012.

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