Alcoa shifts retirees to private health insurance exchanges | TribLIVE

Private Exchanges cost more money than traditional group insurance. But, they can still be the right answer for groups looking to expand and simplify at the same time.

“Typically, private exchanges are set up by a consulting company or an insurance carrier and offer a broad range of health plans. Employers contribute a set amount that may cover most or all of the cost of a basic plan. It’s up to the worker or retiree to pay for a higher level of coverage.”

The biggest concern for employers is the change in who delivers these complicated new products. For many employers who have National Consulting firms providing information to employers, like those mentioned in this article, it’s self-serving on the part of those organization to also be the pedalers of their own product.

In this article, Towers and Mercer, two of the largest consulting firms are also the creators and sellers of their own private exchanges. It’s a bad idea for the pedalar of the product to also be the advisor. While most anyone would say that’s obvious, it is important to remind individuals responsible for company purchases to get an independent third party to confirm a decision, or help in the evaluation process.

BenStaff is in the business of providing valuation advice to large and small employers. A second opinion will help many employers or unions from making a poor decision.

via Alcoa shifts retirees to private health insurance exchanges | TribLIVE.

Rationing for medicare, it’s a conversation that’s here

Latest thinking in this article by a great noted author only serves to continue the same conversation of rationing and cost shifting. We can do better.

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American Enterprise Institute article from Joseph Antos

Why do our brightest academics and non-profits not understand what is pushing up healthcare costs? Why are we focused on, and beginning to discuss rationing. This should make every American pause.

Do we want the “healthcare website debacle,” or promises like, “you can keep your plan”  managing our actual health?

“POLICYMAKERS: The real issue is how the results of a cost-effectiveness analysis are used. Policymakers have distanced themselves from any hint of government rationing of health care.”

Cost-effectiveness and the Medicare budget, August 28th, 2014, Joseph Antos, AEI, http://www.aei.org/article/health/cost-effectiveness-and-the-medicare-budget/

There is a different answer and if you follow our discussion and conversation called the owners health initiative we can collectively change our course. The recommendations and proposals are not easy but what we must embrace.

Sins of omission will occur because of so much change

There has never been more change in a shorter period of time than now. Gain added certainty at a time when things couldn’t be more uncertain.

There has never been more change in a shorter period of time than now. Gain added certainty at a time when things couldn’t be more uncertain.

There have been more than 25 major changes to ACA with more to follow. No one can know the entirety of this law and its’ regulations, don’t make decisions in this environment the way you made them in the past. Agents, brokers, consultants can recommend our services to avoid oversights, so many alternatives in every decision.

You are covering more material and making bigger decisions than ever before, what doesn’t get discussed in the planning meetings can be more important than what does get discussed.

Whether you’re an agent, broker or consultant looking for an added resource or you’re a plan fiduciary, trustee, HR executive, finance executive or owner getting a second opinion will save you much more than you spend.

Our team is standing by to help, pick-up the phone and ask for a 2nd opinion.

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Due diligence

Due diligence does not include shopping your agent, broker, or consultant. That’s not a fruitful exercise, even they will say that’s true.

If you overlooked something in making changes, when would you know?

Do you, or your team, have enough experience to squeeze out the best renewal, and costs?

Is there one loose end, or lingering question, that needs attention from a professional and team with more than 200 years experience?

For many employers, the Decoder is the easiest most cost effective way of learning about the law, and how it financially impacts their business.

The Market Recognizes the BenStaff Decoder’s Value

S&P says, “the ACA presents an opportunity for U.S. companies to radically redefine the role they play in the health care system.” There is $700 Billion to be saved by more closely decoding ACA.

As an example of the need for the BenStaff decoder,

“the ACA presents an opportunity for U.S. companies to radically redefine the role they play in the health care system.”

Capital IQ, McGraw Hill Financial, article Link.

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The article titled, “The Affordable Care Act Could Shift Health Care Benefit Responsibility Away From Employers, Potentially Saving S&P 500 Companies $700 Billion,” presents a compelling case for change. However, kicking employee health care plans to the curb will require forethought and planning – enabled by the BenStaff decoder, owners and their HR staff can realize what’s possible, and what should be avoided.

In our 3 years of analysis using the decoder, we’ve have found the phrase, “winners and losers” to be the most applicable. The decoder identifies winners and losers and will help an owner make a one time change away from the old method to embrace the new ACA opportunities.

ACA: Continuous Change for the Industry

Recently, at a conference, the speaker explained how the status quo, the new normal, is overwhelm. In their experience, ACA has brought about 4 years of tremendous change,

Screen Shot 2014-08-26 at 9.59.25 AMand more change is on the way. They identified with industry professionals and explained, “it will be another couple years before a calm can set in.” Constant change is exhausting. It is our experience these comments are true across all stakeholders in healthcare. Everyone is struggling with the new law and its ongoing changes.

Our “Employer ACA Decoder” can really help with understanding in a non-sales environment what options are available and evaluates them using an apple to apple comparison.  Based on financials alone, it recommends next steps.

BenStaff Employer ACA Obamacare Decoder
BenStaff Employer ACA Obamacare Decoder

Here’s a picture of a Decoder, it’s a booklet with helpful guidance all in one place with personalized commentary about all the new options for an employer.