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According to the latest Kaiser Family Foundation’s Survey of Employer Health Benefits, 64 percent of employed, insured workers are covered under self-funded plans. Under Self-Funded plans, the employer is financially responsible for healthcare claims incurred by employees, as opposed to traditional fully-insured plans, which come with ever-rising premiums, administrative costs, and profit margins. At first…
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Effective January 15, 2022 through the end of the declared public health emergency, in accordance to the new expansion of the Families First Coronavirus Response Act (“FFCRA”), at-home tests will now be covered by the plan up to the cost of the test or $12 (whichever is lower) for each individual on the plan up…
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The IRS announced that the ACA’s affordability contribution percentages for 2022 will decrease significantly—to 9.61% from the current limit of 9.83%. Consequently, large employers may have to adjust their employee contributions so plans remain affordable. This affordability percentage is significant under the ACA employer mandate pay-or-play rules. For a large employer (with 50 or more…
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On Friday, August 20, the Department of Labor released an FAQ document regarding the No Surprises Act and the transparency provisions Consolidated Appropriations Act, 2021 (CAA). This FAQ, prepared jointly with HHS and Treasury, provides important delays in the implementation of multiple requirements in these laws. The FAQ covers a variety of topics, including: Transparency…
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We are pleased to announce that David Jones has joined MBA Benefit Administrators as the Business Development and Broker Relationship Manager. He will work as a liaison between MBA and Brokers, assisting with employer groups for new business, renewals, and plan set-up. David has more than six years of financial/health and benefit industry experience and…
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There is some good news for employees with a qualifying event who chose not to take COBRA or who are no longer enrolled in COBRA. Under the American Rescue Plan Act of 2021 (ARP), qualified beneficiaries covered from April 1, 2021 to September 30, 2021 get a second chance at coverage with a 100% subsidy.…
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MBA’s 25th annual company retreat was enjoyed in Oceanside, California in May. On May 23, MBA employees of 5 years or more employment at the company departed for southern California, Oceanside to celebrate in style. Sun, ocean, games, shopping, team building were all a part of the fun. MBA honors its long term employees each year…
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MBA executives and underwriting specialists have been involved in the quoting process and working with the underwriting process for self-funded plans over the last 30 years. So, we have seen our fair share of underwriting issues. We recently attended a seminar where we learned the methodologies insurance underwriters use to rate plans. During this event,…
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With more and more states legalizing the use of medical marijuana, many people are turning to it for relief from a wide range of different medical ailments. Unfortunately, despite the fact that many people find relief from its use, and a lot of doctors are prescribing it for their patients, many insurance plans in the…
Read MoreBy Executive Order from President Trump, the Dept. of Labor has been instructed to draft language allowing for Association Health Plans. This will allow small employers and the self-employed to purchase health coverage based on “commonality of interest” as opposed to current regulations which require a common employer relationship. This is potentially good news for…
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