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What is a Healthcare Insurance and Benefits Broker?

A Guide To Getting The Most From Your Benefits Healthcare brokers are licensed professionals with knowledge and expertise in health insurance and benefits. To earn a health insurance license, individuals must pass several state-specific examinations. These exams test their knowledge of policies and provisions, insurance terminology, tax considerations on the federal and state level, differences between individual and group insurance plans, and health maintenance organizations (HMOs). Healthcare brokers do not offer or issue health insurance or work for a specific insurance carrier—they are advisors who have relationships with multiple insurance carriers to advise you on the right one for your …

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What are QSEHRA and ICHRAs? Understanding Health Benefit Plans for Small Business

The qualified small employer health reimbursement arrangement (QSEHRA) and the individual coverage health reimbursement arrangement (ICHRA) are health benefit plans designed for small businesses. Both QSEHRA and ICHRA give employers the ability to set employee reimbursement allowances for health insurance policies and qualified medical expenses. It’s a win-win approach: employees receive a tremendous benefit, and small businesses can contain their healthcare expenditure. Differences between a QSEHRA and an ICHRA While both of these arrangements perform the same essential functions, their operating mechanisms are a bit different. These differences are also what defines their suitability to your business goals. Let’s take …

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What is an HRA Health Reimbursement Arrangement?

If you run a small business with employees, you need to come up with a way to give those employees health coverage. This can be very challenging for the smallest businesses. With only one or two employees, you cannot get the best rate, and you may have to go with substandard coverage or navigate the frustration world of group health insurance. Professional associations can sometimes help, but if you want the best for your employees, you might have to consider some non-standard options.

Why You Should Read

When people think of working out and wellness rarely do our thoughts go to our mind. Did you know that 1/3 of high school graduates never read another book the rest of their lives, 42% of college graduates never read another book after college, 80% of families did not buy or read a book last year, 70% of adults have not been in a bookstore in the last five years, and 57% of new books are not read to completion. My bookworm self just gasped. I don’t necessarily read something that enriches my mind in a scholarly sense, but I …

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The Question Presidential Candidates Must Answer

The Affordable Care Act (ACA) seems to be a topic of discussion for Presidential candidates. Will the ACA still  stay intact once the next President is elected into office? What changes will be made to the ACA? The biggest question stated by an article on Bloomberg View is, “How would they (Presidential Candidates) protect people with pre-existing conditions? Left to their own devices, after all, insurers have an incentive to charge higher premiums to potential customers who already have chronic health conditions – or not to offer them coverage at all.” What the ACA has done well is to ban …

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