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

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

Online onboarding: What HR should look for

Posted by Alex Tolbert on Fri, Jun 29, 2018 @ 06:06

How HR can improve the onboarding experience and improve retention

This column was originally published in HR Technologist.

A new study released by software company Digitate found that employees who had a negative onboarding experience were twice as likely to look for new opportunities in the near future. With the hiring market in the hands of applicants, many organizations are focusing on making improvements to their recruitment and retention strategies. 

One way to improve the new hire experience and retention is to use an online onboarding system, which reduces the administrative burden of bringing on a new employee.

But how should HR leaders think about comparing the different onboarding solutions? Here are some of the things you should look for when evaluating a system.

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Tags: BerniePortal, broker, onboarding

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—here’s how to adopt HR tech

Posted by Emily Kubis on Mon, Apr 16, 2018 @ 09:04

Broker-supported benefits software is better than seeking a solution on your own

According to analytics firm Larocque Inc., venture capital investments in HR tech surpassed $1 billion in 2017, particularly focusing on talent acquisition, followed by HCM (human capital management) tools to manage core HR functions.

These tools include benefits, time tracking, applicant tracking and more.

The takeaway is that small and mid-sized employers are on the cusp of a huge move to administer HR and benefits online.

But how do you know which type of solution is right for your organization, and where can you find the right solution?

The first place to start is by asking your broker what solutions they can provide or recommend. Many brokers nationwide license software tools to streamline benefits and HR administration. Bernard Health clients have access to BerniePortal, an all-in-one benefits and HR platform.

There are a few benefits of a broker-supported platform:

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Tags: broker software, health insurance brokers, employers, solutions for employers, health insurance small employers, employer plans, broker, employer digest, HR tech

Top ten things to ask your broker

Posted by Emily Kubis on Fri, Apr 28, 2017 @ 10:04

We've updated one of our most popular e-books

We get it—there are a lot of brokers out there. It can be challenging to differentiate between your options in building and executing a great benefits package. And when performance is hard to measure, decisions are often made based on relationships. But is that the best way to maximize value?

With healthcare costs as high as they are, employers are taking a harder look at the metrics they use to find and compare advisors.

This e-book is for business owners, CFOs and HR professionals looking for meaningful metrics to use and questions to ask when evaluating brokers.

Here’s an excerpt of the ten questions. For answers to look for or avoid, download the guide!

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Tags: health insurance brokers, brokers, employers, solutions for employers, health insurance small employers, employer, broker, employer digest

Why your broker should offer HR software

Posted by Emily Kubis on Fri, Mar 10, 2017 @ 09:03

Broker-incorporated software is better than seeking a solution on your own

More than a billion dollars of venture capital is flowing into the HR and benefits administration industry, with many new software companies cropping up and targeting small and mid-sized employers. You may have seen ads for several of these platforms already—Zenefits, BambooHR, or Gusto, to name a few.

You may be wondering if adopting one of these technologies is right for your organization. Certainly, getting your benefits administration and HR processes online represents a large opportunity to increase efficiencies and reduce errors.

But before you begin evaluating options and comparing vendors, your first question should be to your health insurance broker. Does your broker offer a software platform? Do they plan to offer one in the next year?

If the answer is no, you may want to consider changing brokers. Here’s why finding a broker who incorporates software into their value proposition is better than seeking out a software solution on your own.

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Tags: broker software, health insurance brokers, employers, solutions for employers, health insurance small employers, employer plans, broker, employer digest

What it takes to be a young leader in benefits

Posted by Craft Hayes on Mon, Feb 20, 2017 @ 09:02

Craft Hayes leads Bernard Health’s Nashville team of benefits advisors and was recently named a 2017 Rising Star in Benefits by Employee Benefits Advisors.

I’m honored and excited to a part of the 2017 Employee Benefit Advisors Rising Stars in Advising. In my almost 10 years I have seen a tremendous amount of change in our industry from both legislation and rising costs. Arguably the most tumultuous time to enter the industry, we’ve learned about the pre-ACA way of doing things, the ACA format and rules, and are now preparing for the round of changes with Republican leadership.

The benefits industry and brokerage business used to be able to provide value in pricing to clients through quotes from multiple insurance companies. Since I started in the industry in 2008, I have seen a tremendous shift in our roles. A reduced number of carriers to quote—and those quotes being the same across all brokers—has greatly commoditized the market.

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Tags: health insurance, benefits, brokers, employers, solutions for employers, employer, employer plans, broker

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