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It doesn’t matter if you’re in the renewal process or have just finished, there are a few questions you should be asking about your group health plan. Were you in control? Are you satisfied with your coverage? Was a self-funding option suggested? If you don’t have answers to these questions or maybe have more MBA…
Amid the unparalleled demand for healthcare workers, physical therapists (PTs) have emerged as some of the most vital. In fact, according to recent statistics on the physical therapist job market, this career has a growth increase of 21%. This is much faster than the average job growth in most of the other sectors. But why have…
Inflation. That’s the word on everyone’s minds these days. The higher it goes, the less take-home pay there is. But there is something positive to look forward to in this 40-year high inflation event: a substantial increase in Health Savings Account (HSA), High-Deductible Health Plans (HDHPs) and Excepted-Benefit Health Reimbursement Arrangements (HRAs) limits for 2023.…
What is surprise billing? “Surprise billing” is an unexpected balance bill. This can happen when you can’t control who is involved in your care—like when you have an emergency or when you schedule a visit at an in-network facility but are unexpectedly treated by an out-of-network provider. What is balance billing? When you see a…
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…
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…
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…
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…
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…
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.…