Health Insurance Archives - Page 10 of 15 - DesignHealth Benefit Advisors

Opposing View for Insurance Premium Rates

November 15, 2015 December 21, 2022 / By Design Health / All Posts, Health Insurance, In The News

It’s not often that an article written asks itself to be pitted against somebody with an opposing view, but that is exactly what USA Today did when they asked The Galen Institute to write their view on next years insurance premium rates. USA Today’s camp states that premium increase will be at a minimum and that for Obamacare critics there is never any good news, and that critics think “Obamacare is a ready to-implode disaster.” The article goes on to quote several rate requests submitted for 2016, and says that any large rate hikes are due to miscalculated rates from …

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What Makes Employees Stay?

November 12, 2015 December 21, 2022 / By Design Health / Health Insurance, Small Business

Employees come and go from companies, but what helps a company keep an employee and keep them happy? A recent article by the Employee Benefits Research Institute says that the benefits both attract and retain the best workers. In a 2013 survey EBRI discovered that the benefits package is an important factor in a potential employees decision to accept or reject a job. The survey was also able to show that many workers weren’t satisfied with the benefits package being offered. One of the best advantages of defined contribution health benefits is that an employee has the option to choose their own …

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More Co-Ops Go Flop

November 10, 2015 December 21, 2022 / By Design Health / All Posts, Health Insurance, In The News

Last week a webinar was given by several well informed professionals on the Affordable Care Act and the topic at hand, co-op shut downs. We are 8 down and counting stated Scott Harrington, Wharton School at UPenn Professor of Health Care Management, echoing the sentiments of the other panelists. After several more health co-ops have shut their doors just before the opening of the 2016 enrollment period one can’t help but say who is next. Many of the cooperatives seemed to fail before they even started, but with the prospect of true governmental help they could have survived. As stated during the …

The Benefit of an HSA and Being Over 65

November 9, 2015 December 21, 2022 / By Design Health / All Posts, Did You Know?, Health Insurance

We covered in previous posts what a Health Savings Account is and how they can be beneficial. One of those benefits is the ability to pull money out of your HSA account once you reach the age of 65 as tax-free dollars even if you are not using it for healthcare expenses. This enables individuals to use their HSA as a part of a retirement plan. You pay into your HSA account each year and accumulate funds that earn interest. If you build upon that at age 65 that money can be used for expenses other than healthcare, and withdraws are …

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Common Misconceptions with Defined Contribution

November 8, 2015 December 21, 2022 / By Design Health / All Posts, Did You Know?, Health Insurance, In The News, Small Business

There are common misconceptions with defined contribution plans as to their legality and how to set them up to comply with regulations. One of the common questions comes from understanding that the employer is not directly paying for an employee’s individual health insurance. When a company sets up a defined contribution plan it must be compliant with IRS, ERISA, HIPPA, and ACA guidelines. We typically recommend using an administrator when setting up these plans. So why do you need to set up a formal plan to be in compliance versus giving the employee funds directly? To maintain compliance employers aren’t involved in …

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Could There Be Medicare Savings In Prescriptions?

November 3, 2015 December 21, 2022 / By Design Health / All Posts, Health Insurance, In The News

Several thoughts this morning arose as I was considering the cost of premiums versus the cost of doctors and prescriptions. What if there were regulations and guidelines that set parameters on all of the costs? Premiums increase due to the cost of care, and prescriptions remain high due to pricing set by pharmaceutical companies. It becomes an endless cycle of inflation year after year, but will there every be an end to the vicious increase? An article posted on the Wall Street Journal offers a solution with a savings bolstered at $16B. The government regulates both Medicaid and Veterans healthcare expenses and price negotiations …

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