How will the following impact your group rates, and your
company’s benefits plan?
1. Are you a “grandmothered” group – 50 employees or less? If so, your rates will no longer be based on the history of your group. On the contrary, fully insured group plans will be forced to convert to community-rated plans.
What does this mean?
The claims of the entire region of the state in which you live will now determine the plan rates for your organization. Imagine the impact this will have on your premiums.
2. IMPORTANT: Companies are being faced with abrupt ACA changes right now, and if your business is next, you should be prepared to deal with the new outcomes:
• Minimum Essential Coverage Reporting are becoming due now and throughout 2016 plan year for Grandfathered, Grandmothered and Fully Insured companies.
• Employer Mandate Reporting for employers with 50 or more full-time workers are becoming due now and throughout 2016 plan year for Grandfathered, Grandmothered and Fully Insured companies.
Do not let yourself be blindsided by this. Contact Managepoint, your professional HR Outsourced Partner to help guide you through these changes in Health Care Reform. An HR professional is ready to help…