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Determining Health Insurance Premiums I Braden Benefits
The key to remember — If you manage your claims, then you manage your premium. Claims are the one place the employer can … See more
Actived: 2 days ago
URL: https://bradenbenefits.com/how-health-insurance-premiums-are-determined/
Understanding Level Funding in Employee Health Insurance
WebLevel funded health insurance means the cost of the plan is determined by the anticipated claims to be paid on those participating. The premium is the same for every employee. If paid claims are greater than the premium collected, the additional claims are covered through reinsurance protection. The company receives a report showing where …
What is Level Funded Health Insurance
WebLevel funding is simply a financial structure inside the health insurance policy. Your company is collecting premiums to fund the expected claims while having stop loss insurance in place should a claim exceed expectation. In other words, it breaks down the fully insured policy while creating the same look and feel to the company and employee.
Treating Employees Differently in Group Health Plans
WebIf a self-insured health plan is discriminatory, highly compensated employees will be taxed on their “excess reimbursements.”. For purposes of Section 105 (h) testing, a highly compensated employees means an individual who is: One of the five highest-paid officers. A shareholder who owns more than 10% in value of the stock of …
Medicare and Employers with Less Than 20 Employees
WebThe liability came down on the employer. In companies with less than 20 employees, the employer can subsidize the cost of an employee’s Medicare Part B and Medicare subsidy. This has always proven to be less expensive than the insurance companies individual group health rate. However, when the employer pays a significant portion of the
Braden Benefit Strategies
WebCreating Superior Healthcare Benefit Plans. Braden Benefit Strategies, Inc., is your expert in employee benefit solutions. We have the experience, knowledge and resources of a large agency, with the hands-on caring of a small agency. Our team focuses on the successful creation and delivery of health insurance benefit plans for employers with up
Determining group health insurance cost for your company
WebThe insurance company will calculate the cost of this drug into the premium they need to cover claims. Think of it like this – $60,000 divided by 12 months divided by 55 employees = $90 per employee per month. The cost of healthcare is …
Employee Education
WebEducating your employees about their health insurance and benefits should not stop with open enrollment. In fact, year-round communication boosts awareness about key issues, increases employee satisfaction, and decreases healthcare costs. Braden Benefit Strategies regularly provides our clients with effective, timely communication, designed to keep their …
Changes in How Americans Receive Healthcare
WebIn the past few years, a new way of life has evolved. One of these changes has been the way Americans receive healthcare. With the rise of telemedicine, Minute Clinic, and urgent care facilities – there are now a variety of ways to access medical care.
ANNOUNCEMENT FROM BRADEN BENEFIT STRATEGIES, INC.
WebVictoria Braden, Chief Strategic Officer of Braden Benefit Strategies, Inc., has earned distinguished recognition as a Health Rosetta Associate Advisor.. Health Rosetta helps public and private employers provide better care for 157 million Americans while reducing health benefits spending by 20-40%.. This meets a critical need for businesses in these …
The Unseen Disease: Why Employers Should Promote Diabetes …
WebConsider Other Diabetes Care Plans. An additional service you may want to consider would be the Diabetes Management Program with Teladoc Health, which is recognized by the American Diabetes Association for effective self-management diabetes education.. According to their employer’s guide, Teladoc Health recommends that effectively …
Sustainable Employee Benefits
WebDuring open enrollment and throughout the year we provide our clients with valuable services, including: Open enrollment meetings. Employee benefit booklets. Employee enrollment and onboarding. Electronic access to the employee’s individual selections. Client-specific open enrollment meetings recorded for later use. DOL annual employee notices.
Engaging Employees in Wellness
WebWellness Participation This client wanted its employees to lead a healthier lifestyle. The company understood the high cost of unhealthy employees–from time off work to higher workers’ compensation claims–and that promoting good health was to its advantage. The company’s health insurance carrier has a program that reduces the health insurance …
Agent Compensation Fees
WebEmployers should always know what their health insurance agent is paid. Generally, agents are paid commission through the insurance carrier. That commission is included in the premium paid by the employer to the insurance carrier. Without knowing this amount, you won’t know if you’re getting good value for your money. Insurance companies pay us a […]
Individual Health Insurance Market 2018
WebPurchasing individual Health Insurance in Atlanta for January 2018? Now is the time to think about this, before crazy begins! By Victoria J. Braden President/CEO Braden Benefit Strategies, Inc. As of 1/1/18 Blue Cross Blue Shield will no longer offer individual health insurance in the Atlanta Metro Area. The only insurance available for an individual […]
Department of Labor – Lowering the Risk of a DOL Audit
WebEmployer health insurance audits also known as welfare benefit plans, are increasing in frequency to every size company. Reasons for a DOL audit include: Complaints by welfare benefit plan participants to the Employee Benefits Security Administration (EBSA), the DOL agency responsible for administering and enforcing the provisions of Title I of the …
ACA Mandates and Fines are Still in Effect
WebVictoria J. Braden President/CEO Braden Benefit Strategies, Inc. Don’t Be Fooled – Nothing has changed for employers or individuals on the legal requirements of ACA – Obamacare! Many employers are under the false assumption the election of our new president or the bill the House passed in May, ends the employer ACA requirements. This is […]
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