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The health savings account (HSA) is a growing trend in health care, but is it right for you? An HSA is a cost-effective option for many individuals and families, but it is not the best choice for everyone.

The Differentiators

Comparing an HSA to any traditional health plan can be difficult, as each has pros and cons. For example, traditional health plans typically have higher monthly premiums, a smaller deductible, and fixed copay and/or coinsurance. You pay less out-of-pocket due to the lower deductible and copay, but pay more each month in

2019 will be the year that many employers learn more about the possible devastating effects of the MassHealth Premium Assistance Program!  Will you be one of them?

Let’s hope not because this program could increase a company’s total benefits line item, which in most cases is already out of control.  “Premium Assistance Program” sounds like a good thing, right? Wrong. Do not let title of the program mislead you.  Not many people realize what the impact this program could have on companies.

I was recently talking to a State official about the

Have you filed your Health Insurance Responsibility Disclosure form yet?  Time is running out, it must be completed by November 30, 2018.   Some of you will remember the old HIRD form from 2006.  That was a nightmare to fill out it and it required an employee form and an employer form for every employee.   The good news is this 2018 version is nothing like that and, for the most part, is easy to fill out once you gather the necessary information.

The Department of Revenue has put out a question &

Massachusetts’ law is now imposing a penalty on employers with employees enrolled in subsidized health coverage, like MassHealth in place of an employer’s plan. These modifications are hitting employers hard!  This act, passed in August 2017 is now effective for wages paid as of January 1, 2018 and expires at the end of calendar year 2019.  It boils down to this simple fact: the State has a deficit paying for MA Health and the EMAC charge is the intended answer to that problem.  Read below to understand how these charges break

As an employer, providing Benefits to your employees can be quite an undertaking.  Understanding the available coverages can be   and the wildly confusing terminology associated with getting the right coverage can easily leave you scratching your head.  You can try the “do it yourself” method and perhaps you’ll have the right coverage, however, if you don’t have a trusted advisor like FBinsure to explain the things you need to know, you may find out too late that it wasn’t quite right.  One such topic is understanding the difference between a Fully

Massachusetts continues to struggle to find a way to pay for MassHealth.  On August 1, Governor Charlie Baker signed into law H.3822.  This law is expected to raise 200 million.  Massachusetts are combined into a single program called MassHealth. MassHealth covers about 1.9 million low income, minor and disabled Massachusetts residents, and it costs about $15.6 billion annually.

The following blog was posted with permission from Benemax.

On August 1, 2017, Governor Baker signed into law H.3822, increasing the existing Employer Medical Assistance Contribution (EMAC) and imposing a new assessment on employers

Clients and friends are always asking me “Can we have a PPO?”  Most local companies only offer an HMO, but there are advantages to a PPO. This does not mean that a PPO is for everyone.

Here are the pros and cons of a PPO:

These are the major differences between an HMO and a PPO. Most of the time the higher cost of the PPO makes the decision to sign up for one very easy.  The theory is why pay more when the benefits are not normally any better and in

Picking your insurance agent is like voting for a presidential candidate.  You have to weigh the benefits that they offer and pick the one agent that best represents your needs.  This year we vote for the next President of The United States.   Over the last 18 cantankerous months each has campaigned across the country conveying their position on a multitude of issues.  You might ask why we are blogging about the election when we are in the home stretch.  Here is why we feel that it is important to

Believe it or not, there are plenty of hazards in an office setting. It is true that office accidents seem less severe than those that occur in a manufacturing plant or among construction workers, but they can be just as painful and just as much of a financial setback to the injured worker.

Office Hazards

Slip and fall accidents account for the majority of disabling injuries in the office. Common causes include:

Walking on slippery floors or uneven surfaces, especially when wearing high heels.
Going up or down stairs and not using the handrail.
Using

Each year, your health care costs go up. This continuing trend can significantly impact your budget as well as your employees’. While it’s difficult to control all the factors that contribute to rising health care costs, actively managing how health care dollars are spent is a great way to help your employees get the most benefit from their investment.  Here are 7 quick and easy ways to get the most out of Health Care Dollars that you can share with  your employees.

1. Understand how your health plan works.  You need