Emily Kubis

Recent Posts

What is stop-loss coverage?

Posted by Emily Kubis on Fri, Jul 20, 2018 @ 09:07

How self-funded insurers cover high claims

Are you an employer or business leader considering self-insuring your company’s health plan? Some employers believe that because they wouldn’t be able to sustain very high medical claims, self-insurance isn’t for them. However, stop loss coverage protects self-insured groups against these high costs, and can make this a good option for groups that might otherwise not consider it.

Here’s what you should know about stop-loss coverage when considering a self-funded health plan.

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Tags: group benefits, group plan, broker, self-funded, self-insurance, stop-loss coverage

What employers need to know about the new Association Health Plan regulations

Posted by Emily Kubis on Wed, Jul 18, 2018 @ 10:07

New regulations create more options for employers

The U.S. Department of Labor announced on Tuesday it plans to allow small businesses to join together and offer association health plans.

The plans would not have to adhere to some of the stricter standards required under the Affordable Care Act. This could result in cheaper insurance options for small businesses and their employees, though some consumer groups warn some patients may lose access to care.

Here’s what employers need to know.

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Tags: group benefits, group plan, offer health insurance, broker, small group market

Affluent Americans concerned about healthcare costs in retirement

Posted by Emily Kubis on Fri, Jul 13, 2018 @ 09:07

How financial advisors can help

According to a new study by Nationwide, 75 percent of affluent, older adults list out-of-control healthcare costs as one of their top fears in retirement, and 64 percent of future retirees say they are “terrified” of what healthcare costs may do to their retirement plans.

As healthcare prices continue to skyrocket, from premiums to procedural costs, this trend has been on the rise, and financial advisors are taking note.

More and more advisors and wealth managers are incorporating a healthcare component to their retirement advice, providing not just a cushion for unexpected healthcare expenses, but also assisting clients in finding the most cost-effective strategy for the best coverage possible.

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

How many employees do you need for a group plan?

Posted by Emily Kubis on Wed, Jul 11, 2018 @ 11:07

Planning to offer group benefits?

Are you a small business owner considering your options for group health insurance coverage? While employers with fewer than 50 full-time employees are not required to offer health insurance to employees, many still choose to do so. Offering group coverage is a great way to improve recruitment and retention, and can sometime be the best option for very small groups, as opposed to having employees obtain individual coverage.

But how many employees do you need to be considered a group?

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Tags: group benefits, group plan, offer health insurance, broker, small group market

How much does a group health plan cost?

Posted by Emily Kubis on Mon, Jul 09, 2018 @ 09:07

Planning to offer group benefits

While businesses with fewer than 50 full-time employees are not required to offer a group health plan to employees, many organizations still choose to do so. Offering a medical plan benefit is a great way to improve recruitment and retention and can sometimes be the best coverage option for employees. But how much does a group health plan cost, especially for small businesses?

Health plan costs vary pretty substantially depending on the type of plans offered, the region in which your business operates, and the demographic makeup of your employees.

That said, on average, annual premiums for single coverage for small businesses total $6,163 and annual premiums for family coverage total $16,625, according to the Kaiser Family Foundation.

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Tags: group benefits, group plan, offer health insurance, broker, small group market

How do I find a group benefits broker?

Posted by Emily Kubis on Wed, Jun 27, 2018 @ 06:06

Planning to offer group benefits?

If you are planning to offer group benefits to your organization, the first step is to evaluate and select a group benefits broker to help design and implement a cost-effective, valuable benefits strategy.

But what do group benefits brokers actually do, and how do you find one?

There are many different strategies for providing health, dental, vision, and other ancillary benefits to your employees. There are multiple funding methods, types of coverage, and numerous ways to structure these plans. Group benefits brokers are experienced in the spectrum these strategies, and work with employers to develop the best strategy for the business and their employees.

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Tags: group benefits, group plan, offer health insurance, broker, small group market

Employers say robust voluntary options are essential

Posted by Emily Kubis on Mon, Jun 25, 2018 @ 06:06

Voluntary options a key part of employers' benefits strategy

A growing number of U.S. employers now consider voluntary benefits an integral component of their core employee benefit strategy, according to the 2018 Emerging Trends: Voluntary Benefits and Services Survey by leading global advisory, broking and solutions company Willis Towers Watson

U.S. employers now consider voluntary benefits an integral part of their benefits strategy, according to a new study published by Willis Towers Watson.

This number has consistently been on the rise. Five years ago, 41 percent of employers surveyed said voluntary benefits were of little importance to their value proposition to employees. Now, just five percent of employers feel that way.

The takeaway is that, with a robust employment rate, more employers are recognizing that a competitive benefits package is key to recruitment and retention.

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Tags: voluntary benefits

How financial advisors can advise clients on nontraditional coverage

Posted by Emily Kubis on Wed, Jun 20, 2018 @ 16:06

Three things to know

Have your clients asked for advice on health coverage? As healthcare costs continue to skyrocket and become cause for concern for Americans at every income level, more financial advisors are recognizing an opportunity to provide another level of service and advice.

When it comes to health coverage, there are numerous strategies your clients may consider. While most are probably covered under a traditional workplace plan, there are nontraditional options that might be a good fit for clients in different situations. For example, if you have clients who are self-employed or retiring before Medicare eligibility, they may need a different solution.

Even clients who have access to a traditional, comprehensive workplace plan may see less value in this type of coverage as premium costs rise into the hundreds and thousands of dollars per month.

Here are three types of nontraditional coverage your clients may consider. While advising on healthcare isn’t typically financial advisor’s area of expertise, having a working knowledge on these options will allow you to position your firm as providing comprehensive advice. Want to offer your clients personalized healthcare advice? Bernard Health provides a Healthcare Extension to financial practices across the country that allows advisors to provide insurance recommendations, enrollment assistance, medical bill auditing and more. Learn more.

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Tags: Bernard Health, retirement, short term plan, healthcare costs, direct primary care, financial planner, financial advisors, healthcare extension, medicare costs

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

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