Archive for the ‘Health Care’ Category

Part 2 of 3: Ways PEOs Support Golf Course Businesses

January 17th, 2014

Health Care for Golf CoursesLast week we discussed workers compensation solutions specific to golf course businesses. This week, we’re talking health care! As we mentioned, golf courses employ individuals across a wide spectrum of job types. Groundskeepers, landscapers, servers, office personnel, event and banquet staff, and more! If you’re a golf course business owner you may very well have a combination of exempt and non-exempt workers.

The Challenge:

Keeping up with specific legislative changes and requirements, particularly surrounding health care and Affordable Care Act, is nothing short of a nightmare. Add in the fact that you don’t have a “uniform” employee type and the health care requirements for each may be very different from one another.

Here’s How PEO Advantage Can Help:

PEO Advantage is busy introducing golf businesses across the country to the PEO relationship. Here’s why the co-employment relationship is such an attractive business model:

Without even factoring in the rules and regulations associated with the Affordable Care Act, there are more than 60 employment-related governmental regulations; compliance alone is a full-time job. PEOs assume much of the liability associated with healthcare regulations and employee management.  Expert help with risk management and compliance protects business owners from costly fines and lawsuits, and with health care and compliance under control businesses can finally concentrate on their core competencies (managing the golf course) and put their growth plans in motion.

In addition to lowering workers compensation costs, they can also lower your health care costs.  With health insurance rates on the rise and the implementation of the Affordable Care Act, businesses are looking for ways to continue offering robust benefits to their employees, but also keep their expenses under control. PEOs bring purchasing power to the table alongside access to Fortune 500 quality health insurance packages and previously unavailable benefits such as 401(k), Section 125 plan and Flexible Spending.

Is your golf course business looking to cut health care costs and ensure a Health Care Reform-compliant workplace in the upcoming year? Call 877-636-9525 to speak with a PEO Advantage representative today.

Health Care Reform Requires SBC’s

December 9th, 2013

 

Health Care Reform Requires SBC’sEffective January 1, 2014 the Department of Labor (DOL) and Department of Health and Human Services (HHS) will be implementing and enforcing the Summary of Benefits and Coverage (SBC) provision of the Patient Protection and Affordable Care Act (PPACA).

What is the Summary of Benefits and Coverage (SBC)?

The SBC is a 4 page overview of health plan benefits, cost sharing and limitations. Its goal is to more easily convey standard information so that employees can easily compare medical plans and make informed decisions regarding which plan they’d like to enroll for.

Additionally, the SBC must include a required set of coverage examples showcasing how the plan works, as well as phone numbers and internet addresses for obtaining copies of the plan’s corresponding documents.

Under the PPACA, each Summary of Benefits and Coverage must be accompanied by the Uniform Glossary too.  The Uniform Glossary is a list of commonly used health care terms and their definitions that was designed for use with the SBC.

What’s Important for Employers to Know?

For employers, it’s especially important that the SBC states whether the plan provides “minimum essential coverage” as required by the individual mandate and also whether or not the plan meets the “minimum value” requirement, meaning that the plan pays at least 60% of allowed charges for covered services as required by the employer mandate.

Health insurers and self-funded group health plans must provide the SBC to employees when they enroll in coverage for the first time, prior to the beginning of each new plan year, and/or within seven days of an employee requesting it.

The Benefit of Working with a PEO…

Although the DOL and HHS have provided a new template that incorporates all of the above, there’s no denying that this is a lot of administrative work on top of your already busy schedule. But there’s good news for those that work with a Professional Employer Organization (PEO). Liability is shared through the co-employment relationship which lightens the burden and limits the risk associated with the SBC non-compliance penalty (which is $1,000 per enrollee). And, HRIS technology made available by many PEOs makes current information (including SBC’s) available at the employee’s fingertips at any time through the employee self-service portal!

Is your business looking to ensure a compliant workplace in the upcoming year? In addition to reducing liability and risk surrounding health insurance, working with a PEO can also result in lower health care costs. Call 877-636-9525 or Get a Free Quote Online to find the best Professional Employer Organization for you.

 

Confused About Obamacare?

September 3rd, 2013

Friendly Male and Female Doctors Isolated on a White Background.Did you know that together with the Health Care and Education Reconciliation Act, Obamacare represents the most significant regulatory overhaul of the country’s healthcare system since the passage of Medicare and Medicaid in 1965?

With the number of complexities and concerns on the rise for small to medium sized businesses, many are opting in for a co-employment relationship with a PEO.

Here’s why:

  • With health insurance rates on the rise and the implementation of the Affordable Care Act, businesses are looking for ways to continue offering robust benefits to their employees, but also keep their expenses under control. PEOs bring purchasing power to the table alongside access to Fortune 500 quality health insurance packages and previously unavailable benefits such as 401(k), Section 125 plan and Flexible Spending.
  • Without even factoring in the rules and regulations associated with Obamacare, there are more than 60 employment-related governmental regulations; compliance alone is a full-time job. PEOs assume much of the liability associated with healthcare regulations and employee management.  Expert help with risk management and compliance protects business owners from costly fines and lawsuits.
  • A number of PEOs are now providing valuable online resources such as calculators to help evaluate the effects the Affordable Care Act will have on businesses. These calculators can help determine whether a business should pay the penalty or provide medical benefits. They outline the costs by company size and determine which variable hour employees must be offered benefits.
  • A PEO can help make sense of complex language. In addition to calculators, some PEOs also offer cliff note-like summaries of various healthcare acts in order to help business owners quickly navigate to the answers they need without getting overwhelmed.
  • With healthcare and compliance under control businesses can finally concentrate on their core competencies and put their growth plans in motion.

Is your business looking to cut healthcare costs and ensure a compliant workplace in the upcoming year? Call 877-636-9525 or Get a Free Quote Online to find the best Professional Employer Organization for you.

Healthcare Reform: What is “Pay or Play?”

March 25th, 2013

Healthcare Reform What is Pay or PlayWhile it’s only March now, 2014 will be here before you know it and proactive companies with more than 50 employees are already scrambling to create an effective health care reform strategy for their organization.

In 2014, companies will have to “Pay or Play,” but what does this actually mean? Effective 2014, the PPACA (Patient Protection and Affordable Care Act) will require companies that employ more than 50 full-time employees to provide health insurance coverage for their employees, or send employees to an Exchange and pay a penalty of $2000 per employee per year. This excludes the first 30 employees, but only if at least one employee goes to an Exchange and receives subsidized coverage.

An Exchange is a competitive marketplace for individuals and small businesses to purchase insurance. Exchanges will be operating in states by January 1, 2014 under the ACA (Affordable Care Act). Now, you may be thinking “why not just create a new hybrid health insurance plan for our organization that offers employees numerous options when it comes to health insurance and benefits?”

This is easier said than done, and PEO Advantage recommends that you calculate your Pay or Play options before making a decision. Employers who elect to provide health insurance for their employees could be penalized up to $3000 for any employee that finds their coverage unaffordable and receives an Exchange subsidiary in its place.   What’s considered “unaffordable?”  A premium that exceeds 9.5% of the employee’s wages.

Many companies are currently struggling to calculate Pay or Play options because there are still so many moving parts and unknowns – Will Exchange rates actually be lower than employer-sponsored plans? If I decide to send employees to an Exchange, will the Exchange offer comparable plans? How will my employees react to a change in benefits?

PEO Advantage reminds all companies of 50 or more employees that Professional Employer Organizations (PEOs) have very robust and cost effective benefits.PEOs have access to Fortune 500 quality health insurance packages, which can be much more competitive than what you are currently offering employees. To discuss your healthcare reform strategy and the year ahead, contact PEO Advantage at 877-636-9525.

Better Managing Your Specialty Drug Benefits

December 19th, 2011

Many employers misunderstand specialty drugs and the costs associated with them. According to a national survey by Midwest Business Group on Health (MBGH), one-quarter of employers in the United States (representing private and public employers) have little to no understanding of specialty pharmacy benefits. Additionally, only 53 percent have a moderate understanding of what specialty pharmacy benefits are.

What are specialty drugs? Specialty drugs are highly complex prescription medications that require special handling, administration, or monitoring.  These drugs are used to treat complex, chronic and often costly conditions, including asthma, cancer, chronic kidney failure, Hepatitis C, HIV/AIDS, organ transplants, psoriasis, rheumatoid arthritis, infertility and much more.

Most employers are using a traditional benefit design, including tiered formularies, co-payments and co-insurance, but tiered drug benefit plans may provide a different level of coverage for specialty drugs. And unfortunately, employers may not be aware of just how much money is being spent on these drugs.

A value-based benefits design might be a better fit for employees with biologic/specialty pharmacy medication needs. The survey conducted by Midwest Business Group on Health revealed that only 13 percent of employers were using a specialty pharmacy provider, a provider that may have greater expertise on how to provide these drugs more effectively.

Even with the high costs associated with specialty drugs, insurer competition remains a factor in pricing and PEO Advantage has wholesale access to over 100 nationwide PEOs and all major medical and supplemental insurance carriers. PEO Advantage guarantees its clients a minimum of 25% cost reduction.

Vendor cost is often one of the most important criteria employers consider when contracting with a health care provider, and value-based designs are still capable of lowering, rather than increasing, co-pays for specialty drugs deemed necessary for patient treatment. They may also provide health coaching, to ensure compliance with medical regimens and encourage the proper use of these drugs.

For more information on value-based designs and healthcare/prescription coverage, contact PEO Advantage. Our streamlined yet comprehensive process includes in-depth analysis, a proprietary reverse auction RFP process, easy-to-read reports, side-by-side comparisons that clearly show value and savings, cost projections and expert recommendations. We take all the guesswork and hassle out of choosing the best healthcare options for your company.

Health Care Reform: A Reason for Benefits Outsourcing

October 24th, 2011

With Health Care Reform attempting to broaden the population that receives health care coverage, the landscape is getting increasingly complex—and expensive. Employer health insurance premiums went up on average about 9% in 2011.

According to global services advisory and research firm Everest Group, benefits administration outsourcing has increased significantly in recent years because of the employers’ need for help to comply with health care reform measures. Their Benefits Administration Outsourcing Annual Report estimates the benefits administration outsourcing market is about $5.4 billion in annual contract value and finds that employers are outsourcing health and welfare services at four times the rate they are outsourcing pension-related services. 

Benefits administration outsourcing is one of the largest and most mature markets in human resources outsourcing. Buyers are increasingly turning to outsourced service providers, including PEOs. PEOs help employers navigate the complex legislations and compliance requirements, in addition to achieving cost reductions. PEOs have access to Fortune 500 quality health insurance packages plus previously unavailable benefits such as 401(k), Section 125 plan and Flexible Spending.

Solutions that meet employers’ current and future needs and offer differentiated offerings in a highly competitive environment are key contributors to a PEO’s success. But with over 800 PEOs to choose from, even finding a PEO can be difficult, never mind finding the right benefits! Introduced in 2011, PEO Advantage is the only PEO broker who guarantees to find you the perfect PEO, and delivers an in-depth risk-free evaluation that consistently saves clients over 25%.

PEO Advantage’s streamlined yet comprehensive process includes in-depth analysis, a proprietary reverse auction RFP process, easy-to-read reports, side-by-side comparisons that clearly show value and savings, cost projections and expert recommendations. PEO Advantage takes all the guesswork and hassle out of choosing the best PEO organization and gives employers everything they need to make an informed decision.

If you need help selecting a PEO for your organization, contact us.