Category Archive for : ‘Employee Benefits’

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

The frustration of the year after year double digit premium increases has left many business owners seeing their health insurance renewal as a necessary evil. Fed up with the empty promises of insurance agents, rising costs, diminished benefits, and a lack of options business owners now treat employee benefits like a trip to the dentist.

Once a year you will deal with it, it will be painful, ruin your day and most likely leave you in a horrible mood. How is it you brush 2x a day, floss, use the best mouthwash on

The Rising Health Care Cost Challenge

According to the National Conference of State Legislatures in 2018, the average annual employer-based family coverage premium was $19,616, up 5% from 2017! Premiums have increased over 20% since 2012. Health insurance now consistently ranks as the second largest line item for a business, after payroll.
This rapid increase in cost resulted in less than 30% of businesses with fewer than 50 employees offering health insurance in 2017, according to NFIB. A 22% reduction in companies offering health insurance since 2010. In comparison companies between 50-99

If you offer health insurance to your employees you are aware that it is bought in one – year policy increments. Every year your insurance broker arrives at your office, spreadsheet in hand ready to explain why you received an increase. Insurance carriers do this in order to protect themselves from long-term losses by having the ability to adjust your premium on a yearly basis. Unfortunately, as a business providing health insurance you will almost certainly offer it for more than one year.

As a result, business owners need to start

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 &

In the Wake of the Deadliest Flu Season in Recent History, CDC Urges Public to Take Action

Over 700,000 people were estimated to have been admitted to the hospital during the 2017-18 flu season, according to the Centers for Disease Control and Prevention’s (CDC) Influenza Hospitalization Surveillance Network. What’s even more alarming is the fact that epidemic levels of influenza or pneumonia persisted for 16 consecutive weeks. The 2017-18 flu season was the first flu season to be classified as high severity across all age groups.

Due to last year’s deadly consequences

On June 28, 2018, Massachusetts Governor Charlie Baker signed Bill H.4640 into law. The bill establishes a mandatory statewide paid family and medical leave program, which will be administered by a new Department of Family and Medical Leave. The leave program will be financed through employer and employee contributions.

Beginning in 2021, eligible employees may take protected paid leave for certain family and medical reasons. Effective July 1, 2019, employers must:

Comply with a new workplace poster requirement and new hire notice; and
Begin remitting contributions for the paid family and medical leave

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

Being a Millennial seems to be the topic of conversation lately within companies. Millennials are important for many different reasons. The Millennials are one of the most important generations in the workforce. They are smart consumers and make up a big percentage of company workforces. Millennials understand the importance of being prepared for the now and for the future.

Who are these Millennials? Millennials are individuals born in the 1980’s and 1990’s and in 2016, this generation surpassed the Baby Boomers as the nation’s largest generation. A Millennial is anyone that