How is it that we make purchases on Amazon.com with a touch on a smartphone, yet many of us still buy group health insurance with paper and a pen? The discrepancy between the two different experiences is confounding. Yes, I would like to clarify that there are fundamental differences between buying Cards Against Humanity on Amazon.com and choosing the right health plan for you and your dependents. However, the marketplace tells us that those two different experiences will be converging. Employers are adopting technologies to more efficiently and accurately manage their benefits and human resource processes and employees are demanding that they do so. Continue reading Online Consumerism and Private Healthcare Exchanges
For many businesses and their employees, the benefits calendar begins and ends each January 1st. This means that as we are now accelerating towards the fourth quarter of 2014, open enrollment is nearly upon us.
As employers begin to sift through all of the different health care options that are now available to them, their focus will be solely on affordability. This is primarily because of employer requirements now in place via the Affordable Care Act (ACA). Over the past year or so, the health insurance options available for employers have changed to adapt to the new environment prompted by the ACA. Many employers will begin to consider:
- Changing health insurance companies
- An exclusive focus on “Consumer Driven Health Plan Designs”
- Alternative Funding Methods (self-insurance, minimum premium, level-funding)
- Alternative Employee contribution scenarios (spousal surcharge, tobacco surcharge, etc.)
- Incentive Based Health Improvement Programs (Wellness)
- Private Exchanges (Defined Contribution)
- Access Health (CT Public Exchange)
…or some combination thereof. Continue reading When it Comes to Open Enrollment, Don’t Settle for the Status Quo
The Affordable Care Act is impacting how employers are offering coverage to their employees, if they’re continuing to offer at all. An option for employees who wish to opt out of their employer sponsored plan has been, and at least for now, continues to be the accessibility of the Public Exchanges. The common question from those who may wish to opt out, since the enrollment period is over for 2014, is “When can I enroll in the Public Exchange, and am I even eligible?”
Most residents in the state of Connecticut must wait until the next open enrollment period (November 15, 2014 – February 15, 2015) to get health care coverage through our state run program, Access Health CT. However, individuals may be able to get coverage earlier, depending on their situation. Continue reading Public Exchanges – Am I Eligible?
Executives representing more than 60 Hartford-area companies joined the Ovation team for a thought leadership event last week. The event was the third in the organization’s Chief Executive Series which takes place in May and November each year. The focus was on “Emerging Market Forces in the New World of Connecticut Health Plans” and featured a panel of leaders from Harvard Pilgrim Healthcare, HealthyCT, ProHealth Physicians and Rogers Benefit Group. Ovation Managing Principals Bill Carew and Brian Driscoll acted as panel moderators.