Essential Health Benefits Explained
A Basic Explanation If you’re buying your own health insurance (meaning you’re not getting your coverage through an employer, or as part of any other group plan), you’re guaranteed coverage
Health Insurance Tax Credits Explained
A Basic Explanation An advanced premium tax credit — or simply premium tax credit — is designed to make it easier for you to afford health insurance. If you qualify,
Setting Up Defined Contribution Class Structures
Employers who sponsor self-funded group health plans (as well as fully-insured employers who want to proactively comply with non-discrimination requirements) and are moving from defined benefit (DB) to defined contribution (DC) funding arrangements need to decide and define how they allocate funds for employees to use. DC funding arrangements allow an employer to completely define their maximum annual spend for health benefits prior to open enrollment.
What You Need to Know When Moving to a Full Defined Contribution Funding Arrangement
We occasionally get questions from brokers and employers about how they should setup their defined contribution funding arrangements. In a future post we'll share some of the general guidance that brokers can share with their clients. However, in this post we'll take a more technical approach, looking first at the regulations that apply to employers moving to a full defined contribution funding arrangement.
Small Groups and Private Exchanges in Pictures
The question over where small groups will land in the insurance exchange marketplace remains top of mind across the health insurance industry. “Most of the attention to date has been on large employers, but small and midsized employers actually stand to gain the most value by participating in exchanges,” according to Booz and Company. And, the opportunity for health insurers to tap into this market with a private exchange offering is sizeable.
Caregiving Services Explained
A Basic Explanation For the 52 million Americans who care for a spouse, child, or parent, health insurance can help pay the medical bills and provide some day-to-day support. Though
Cost-Sharing Reductions Explained
A Basic Explanation If you qualify, the Affordable Care Act (ACA) can help you afford insurance by paying part of your healthcare costs.With a cost-sharing reduction, the government will help
Coinsurance Explained
A Basic Explanation Coinsurance (or co-insurance) simply refers to the percentage you pay when you and your insurer split the cost of some types of healthcare services -- for example,
Medical Tests Explained
A Basic Explanation If you go to your doctor because your stomach has been hurting for a while, it’s unlikely he’ll just guess at what’s ailing you. After a physical
Add These Reports to Your Year-End Reading List
Every year around this time, analysts, consultancies, and human capital researchers publish a barrage of annual reports on employer-sponsored health benefits. Array is keeping a close eye on movement and trends in this space, and there's certainly no shortage of reading material or data.