Benefit Allocation Systems, LLC’s Post

Understanding Health Plan Waiting Periods for ACA Compliance For employers navigating the complexities of the Affordable Care Act (ACA), understanding the permissible health plan waiting periods is important. The ACA sets specific guidelines that employers must follow to ensure their health plans comply, particularly when it involves the timing of employee enrollment. Read more here - https://hubs.ly/Q02Ghsh-0

Review Offers of Coverage After OE Under the Affordable Care Act (ACA), applicable large employers (ALEs)—those with 50 or more full-time employees, including full-time equivalent employees—are required to offer affordable health coverage that meets the minimum value standard to all their full-time staff. This mandate aims to ensure that employees have access to necessary health benefits, and failing to comply can lead to substantial penalties. Read more here - https://hubs.ly/Q02zV7JT0

Review Offers of Coverage After OE Under the Affordable Care Act (ACA), applicable large employers (ALEs)—those with 50 or more full-time employees, including full-time equivalent employees—are required to offer affordable health coverage that meets the minimum value standard to all their full-time staff. This mandate aims to ensure that employees have access to necessary health benefits, and failing to comply can lead to substantial penalties. Read more here - https://hubs.ly/Q02zV1gx0

Employers Urge Congress to Pass Health Care Legislation for a More Competitive and Transparent Market. Follow ERISA Advisory Group on LinkedIn for timely and important industry news from a wide variety of sources https://lnkd.in/eV-BErQQ legislation-for-a-more-competitive-and-transparent-market/ #ERISA

Mercer has released the results of its Survey on #HealthandBenefit Strategies for 2025. Despite higher #healthcare cost trends, just 14% of large employers say it’s very likely in 2025 that they will initiate plan design changes such as raising deductibles or out-of-pocket maximums and copays, and 31% said it's at least likely. Employers are juggling faster cost growth with the need to offer attractive benefits and keep healthcare affordable for all employees. It's important for employers to assess investments in employee health “more carefully than ever” to create long-term value for workers. #HealthandWelfareBenefits #risinghealthcarecosts

Are you a benefits leader looking to curb expensive procedure spend? Join us for a webinar on December 13 to learn about the top conditions driving employer healthcare spend, and how to rein in costs without sacrificing access to high-quality care. ⭕ Date: Dec 13, 2023 ⭕ Time: 2:00 PM Eastern Time / 11:00 AM Pacific Time ⭕ Register today to save your spot: https://lnkd.in/evNVzSPc #webinar #register #informative #healthcare #benefits #consultants #employers #benefits #openenrollment #health_care_news

The Affordable Care Act (ACA) has been a major disruptor in the employee healthcare benefits landscape for over a decade. While it has created opportunities, it also presents significant challenges for employers, particularly when it comes to federal reporting compliance. Check out these 7 strategies for stress-free compliance from BenefitsPro: https://lnkd.in/gaZRwtjs #SmallGroupBenefits #EmployeeHealthBenefits #HealthInsurance

The two best takeaways from Jakob Emerson recent article on Direct Contracting: 1. The top three benefits employers believe comes through direct contracts: Better benefits (49%), controlling rising costs (47%), and improving care quality/employee health (37%). 4. Most employers (76%) said they expect cost savings of 6% to 20% through their direct contracts. The savings is likely understated. There is also the fact inflation is now tied to the providers "costs" which are likely less than 3%. The savings is compounded annually by avoiding leveraged trend. Oh yeah, and better benefits and improved outcomes/health.

Healthcare spending is on the rise. Each year, we here in the United States spend close to $4T on healthcare, and according to a recently published report from Millman, this figure is going to increase by ~8% over this next year. A significant portion of this cost is paid for by employers, who can expect to see the costs of their sponsored employee health benefits increase by ~6-9% next year. Interestingly, only ~15% of employees in any given employer sponsored health plan account for ~80% of the entire plan’s cost. In this op-ed for BenefitsPRO, Bob Daubenspeck, Chief Business Officer here at Curally, takes a look at the approach forward-looking employers today are taking to address these challenges. “The question now is not just about managing health care costs,” Bob writes, “but about finding effective and sustainable solutions.” Read on to hear more of what Bob has to share: https://bit.ly/3TlCoIB #employeehealthcare #healthcarecosts

Employers subject to Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 or 6056 should prepare to comply with reporting deadlines in early 2024. The following employers are subject to ACA reporting under Sections 6055 and 6056:   -Employers with self-insured health plans (Section 6055 reporting); and -Applicable large employers (ALEs) with either fully insured or self-insured health plans (Section 6056 reporting). ALEs are employers with 50 or more full-time employees (including full-time equivalent employees) during the preceding calendar year.  View the complete list of upcoming reporting deadlines: https://lnkd.in/eQAKRR6B #bolton #health #employeebenefits #deadlines #aca #acareporting #healthplans