Governor Cuomo announced on September 16, that New York State residents can enroll in a qualified Marketplace plan using the current COVID-19 Special Enrollment Period (SEP) through the end of 2020. “The COVID-19 pandemic is far from over and it’s more important than ever for New Yorkers to have access to high-quality, affordable health insurance,” […]
Health Insurance/Self-Funding
Express Scripts – Parachute RX Program
If you find yourself uninsured and have no access to affordable healthcare, CIGNA and Express Scripts has rolled out a program called Parachute RX, during this pandemic. This is a way to lower your costs on certain generic medications and select brand name medications. Extra prescription savings for extraordinary times: Express scripts is launching a […]
6 Ways A Self-Insured Plan Will Benefit You
1.) Pay Only for Healthcare Your Members Consume Self-Insured employers pay for only the healthcare claims their members consume, a low stop-loss insurance premium for catastrophic claim coverage, and an administrative fee to a third party administrator who will administer their program. For comparison purposes, fully insured employers pay insurance premiums that are primarily based […]
Employers that are looking for peace of mind, a Fully Insured plan might be the way to go
1.) Payments The company pays a premium, typically fixed for a year, to the insurance carrier. The monthly premium normally only changes during the year if the number of enrolled employees in the plan changes 2.) Assumption of Risk The insurance carrier collects the premiums and pays the health care claims based on the coverage […]
Do You Provide Compensation To Employees Who Opt Out of Benefits?
“Cash-in-Lieu” Options Face Compliance Hurdles in 2017by nahucompliance IRS rules further regulating cash-in-lieu (opt-out) programs are effective the first day of the plan year beginning on or after January 1, 2017. The rules provide for two different types of cash-in-lieu or opt-out arrangements: conditional and unconditional. The easiest opt-out plan administratively is an “unconditional opt-out” […]
