Effective date for FMLA forms extended for employers

Posted by Emily Kubis on Mon, Jun 18, 2018 @ 08:06

Implement new FMLA forms

Employers now have until June 30, 2018 to implement the U.S. Department of Labor’s new Family and Medical Leave Act (FMLA) forms.

If your organization has not updated its forms with the new versions or where not aware of the change, the deadline has been extended through June 30.

What are these forms? The Department of Labor is required to submit FMLA forms to the Office of Management and Budget for approval every three years. The current forms were set to expire May 31, 2018. No other changes have been made to these notices, aside from the effective date.

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Tags: BerniePortal, HR, employer digest, BernieHR

Why healthcare planning in your retirement plan is key

Posted by Emily Kubis on Fri, Jun 15, 2018 @ 09:06

Medicare doesn’t cover everything

A new study shows half of retirees never calculated the cost of healthcare in retirement, and four in ten retirees say their expenses are higher than they expected.

The 2018 Retirement Confidence Survey illustrates why planning ahead for healthcare is so important, and why more and more financial advisors are integrating healthcare planning services into their firm’s value proposition.

Here are three Medicare misconceptions that could affect your wealth management clients.

First, many consumers do not realize that Medicare has costs associated with it, including premiums, copays, and deductibles, as well as prescription drug costs.

These costs should be considered “expected expenses,” and worked into comprehensive financial planning.

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Tags: Bernard Health, retirement, healthcare costs, financial planner, financial advisors, healthcare extension, medicare costs

Top 5 most attractive employee benefits

Posted by Gretchen Smitson on Wed, Jun 13, 2018 @ 09:06

Workers prefer benefits

Over the past decade, power within the job market has shifted from employers to candidates. This change in the recruitment ecosystem has led employers to take a deeper look at the benefits available to employees. Rather than simply offering increased wages, employers are increasingly offering unique benefit packages that reflect company culture and employee preferences.

Here are the 5 most attractive employee benefits according to Harvard Business Review: 

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Tags: Affordable Care Act, BerniePortal, aca compliance, benefits technology, employer mandate

Group benefits for nonprofits

Posted by Emily Kubis on Mon, Jun 11, 2018 @ 08:06

Nonprofits face challenges in building benefits plans

Do you have the right strategy for your group health plan? Nonprofits face particular challenges when it comes to finding the right approach to building a sustainable benefits package.

Bernard Health has a decade of experience working with nonprofits, and we offer a suite of innovative products and services to help your employees make the best choices when it comes to healthcare.

Here are three areas of need that nonprofits face when it comes to benefits. To learn more about this approach, click here to download the “Benefits Guide for Nonprofits."

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Tags: health insurance small employers, group benefits, employer digest

How to help early retirees maintain health coverage

Posted by Ryan McCostlin on Fri, Jun 08, 2018 @ 06:06

Check out this article on healthcare costs in Financial Advisor:

Through inheritance, sale of a business or just old-fashioned careful financial planning, some Americans are in a position where they're giving serious consideration to retiring “early.” I put early in quotations because, for practical purposes, this just means someone is retiring before Social Security benefits are traditionally taken and before most people are eligible for Medicare at age 65.

Medicare isn't perfect, but for most people, it's an important milestone because it often provides more comprehensive healthcare coverage at a lower cost than is available to most Americans who don't have access to employer-based coverage. Furthermore, most people can get excellent coverage through Medicare without being subject to medical underwriting, which could include questions about pre-existing conditions or requests for medical records.

However, most clients retiring before age 65 won’t be eligible for Medicare. So a key factor in decision-making will be how to handle health-care costs and coverage in the gap years.

Here’s how financial advisors can help.

Things To Consider:

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Tags: Medicare Advice, healthcare advice, financial advisors, healthcare extension, wealth managers, ThinkAdvisor, retirees

Why a higher uninsured rate means more expensive premiums

Posted by Alex Tolbert on Wed, Jun 06, 2018 @ 09:06

Premiums likely to rise in 2019

A new study by the Commonwealth Fund reports that the uninsured rate has been rising since 2016, and about 4 million more Americans are uninsured today than two years ago. 

One consequence of fewer insured Americans is that premiums will likely rise for the consumers who do continue to buy health insurance, beginning as early as next year.

We don’t know yet how much prices will increase, but we will have more information about this soon. Insurers have to decide this summer if they intend to sell individual coverage in 2019 and file with the state for any rate increases.

But before that happens, let’s understand why more Americans are going without insurance, and how that leads to more expensive coverage for consumers who do purchase health plans.

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Tags: healthcare, The Tennessean, healthcare costs

Thousands of employers to receive ACA penalty notices

Posted by Emily Kubis on Fri, Jun 01, 2018 @ 08:06

Address compliance with a benefits platform

The New York Times reports the IRS is sending penalty notices to 30,000 organizations in violation of the Affordable Care Act’s employer mandate.

This news illustrates the importance of remaining compliant with the ACA, especially in light of changes to the law from the Trump administration.

There have been some changes to the ACA, including the repeal of the individual mandate penalty beginning in 2019 and the expansion of short-term and association health plans, among other changes.

However, the repeal did not impact the employer mandate, which requires groups with more than 50 full-time employers to provide health coverage, nor did it impact reporting requirements associated with the mandate.

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Tags: Affordable Care Act, BerniePortal, aca compliance, benefits technology, employer mandate

Hiring Millennials? Why changing workforce trends are driving adoption of benefits tech

Posted by Emily Kubis on Wed, May 30, 2018 @ 10:05

Half of employers plan to increase spending on benefits tech in the next three years

According to a new study from Guardian, employers are increasing their spending and adoption of benefits-related technology, largely driven by Millennials.

Guardian’s Workplace Benefits Study found most employers have increased their spending on benefits tech in the last five years, and half of employers surveyed plan to make further increases over the next three years.

These increases are driven largely by Millennials, who continue to comprise larger shares of the workforce. With unemployment low, employers are competing for Millennial talent and turning an eye to their recruitment, retention and engagement strategies.

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Tags: BerniePortal, millennials, benefits technology

Group benefits for restaurants and hospitality

Posted by Emily Kubis on Fri, May 25, 2018 @ 06:05

The restaurants and hospitality industries face challenges in building benefits plans

Do you have the right strategy for your group health plan? The restaurant and hospitality industries face particular challenges when it comes to finding the right approach to building a sustainable benefits package.

Bernard Health has a decade of experience working with restaurants and hospitality companies, and we offer a suite of innovative products and services to help your employees make the best choices when it comes to healthcare.

Here are three areas of need that restaurants and the hospitality industry face when it comes to benefits. For more, download the free “Benefits Guide for Restaurants and Hospitality.”

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Tags: health insurance small employers, group benefits, employer digest

Renewal rate too high? What to do about your group plan

Posted by Emily Kubis on Wed, May 23, 2018 @ 08:05

Before you consider cutting your group plan benefits, read this.

If you’re a fully-insured employer who just received a huge rate hike on your group plan renewal, you may be considering cutting benefits or changing your plan design.

Instead, you may want to consider a change to your funding strategy. Employers have more choices than they realize when it comes to financing their employees’ healthcare. Purchasing a fully-insured health plan may be what you’ve always done, but there are a lot of alternatives that aren’t as complex as they seem.

These strategies can potentially save your organization tens of thousands of dollars, while allowing you to actually expand benefits options for your employees.

(More: How a 40-employee group saved $100,000 with reference-based pricing.)

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Tags: health insurance small employers, Self-Insured, self-funded, reference based pricing, self-insurance, renewal rate

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employer healthcare freedom
employer healthcare freedom