Would you rather have 15% of $1,000 or 15% of $10,000? No-brainer, right? What if, that question was given to your health insurance company? Would that be good for you? Unfortunately, when Congress passed the Patient Protection & Affordable Care Act (ACA), the acceptable loss ratio - the ratio of expenses to premium – for health insurers was capped at 85% for the group market. The loss ratio is effectively a measure of profitability and overhead for an insurer. The regulation

Heart disease is a common term for coronary artery disease. It is the number one cause of death in both men and women over the age of 60 in the United States. Causes Heart disease is caused by atherosclerosis—a buildup of plaque in the inner walls of the arteries—which narrows, slows or blocks the flow of blood to the heart. Risk Factors Controllable risk factors for heart disease include the following: High blood pressure High LDL cholesterol Type 2 diabetes Smoking Being ov

On this episode of Healthcare Simplified, John Glascott shares 8 steps you can take to lower your company’s healthcare costs by 10-30% each year. John is the Chief Commercial Officer at MedZoom, a company that powers modern healthcare marketplaces. MedZoom is like a GPS for your health plan. They have a modular technology platform that helps self-funded employers reduce their healthcare spend by 10% annually with a white label mobile app than can be branded for each company.

If you’ve ever received a surprise medical bill, you’re not alone. According to a survey conducted by NORC at the University of Chicago, over half of American adults have been surprised by a bill that they had assumed would be covered by their medical insurance. Moreover, only 1 in 5 of these surprise bills were the result of a patient actively seeking out-of-network care. The situation in which you would receive a surprise medical bill is commonly referred to as balance bill

If you are looking for an easy and inexpensive way to stay healthy or lose weight, you need nothing more than your own two feet. Walking is an ideal form of exercise—it’s free, and you can do it almost anytime and anywhere. Walking is also a great way to maintain a healthy weight or to shed those extra pounds. The First Step: Good Shoes Whether you walk outdoors, on a treadmill or at the local mall, you will want to invest in a good pair of walking shoes. Walking shoes are de

On today’s episode of Healthcare Simplified we are extremely lucky to have, for the third time, employee compliance benefits extraordinaire, Sandy Krauer. She’s back, and this time, Sandy’s here to talk about how you can maximize tax savings by implementing a Section 125 Cafeteria Plan. Update from the last podcast Sandy was on On the last podcast, Sandy brought up that there were going to be proposed changes to the FLSA Act’s overtime provisions and exemptions for the minimu

The Affordable Care Act (ACA) requires health plans to cover certain preventive care services for participants without any cost-sharing such as deductibles, copayments or coinsurance. This requirement includes additional preventive care for women. Under the ACA, more types of preventive care must be provided to women than men at no extra cost. This is because women have unique health needs and higher rates of chronic diseases, such as diabetes, heart disease and stroke. What

Women should regularly meet with their doctor to discuss their overall health, ask questions and get preventive care. Preventive screenings help detect disease and illness earlier, often leading to faster recovery or less-severe consequences. Bone Density Test This test measures the density of your bones (lower back, hip region, wrist and heel) to help determine your risk of developing osteoporosis, which makes bones more fragile and likely to break. The U.S. Preventive Servi

Employee benefits liability (EBL) is insurance that covers businesses from errors and omissions that occur when employee benefit plans are administered. These errors and omissions may include failing to enroll, maintain or terminate employees in a plan, and failing to correctly describe benefit plans and eligibility rules to employees. EBL insurance covers a wide range of plans, including health, dental and life insurance, profit-sharing plans, workers’ compensation and emplo

Don't Let Tax Filing Season Get the Best of You The April 15 deadline to file your 2018 tax returns will be here before you know it. If you’re like many Americans, hearing the phrase “tax season” can induce stress—and for good reason. Filing your taxes can be confusing, but, with the help of a tax professional, it doesn’t have to be. In addition to contacting a certified tax professional, review the following information. How to File Many people elect to file their tax retur