R&R Insurance Blog

NorthBay Adventure, a small Maryland adventure camp for 6th graders with 30 employees, is making then news because they became self-insured last year. As a result, they are saving 45% on their health care insurance costs, and they have basically removed themselves from the ACA requirements. As noted in the article from Kaiserhealthnews.org, self-insuring is a loophole for the small employer to get out of the ACA requirements.

Credit: KAISER HEALTH NEWS / Kyle Grantham for USA TODAY

More and more small businesses like NorthBay are avoiding the health act's requirements through self-insuring coverage.Self-funding in the past has been more typical for larger employers. Self-insured employers pay for most worker health costs directly, though they contract with an insurer or other company to administer claims. The employers also buy coverage known as stop-loss for claims exceeding a certain amount.Free Download: Loopholes for Self-Funded Plans document

For more information about WellCompForLife, about self-funding your health insurance plan, health care reform or basic employee benefits questions, contact knowledgebroker Riley Enright.

Join our group on LinkedIn: Obamacare: Strategies for Business to Survive. We welcome you to join in the conversation with our LinkedIn group dedicated to discussions for business owners on Obamacare: Strategies for Business To Survive. Read articles, download documents, join the conversation, and add your expertise!

Learn how Voluntary Benefits are impacting small businesses and their ability to attract and retain employees during this time of benefit change.

As we move forward through the stages of healthcare reform, one thing is for certain: employers need to continue to attract and retain the best employees... this has long been true. Today, differentiation will be the key. Enter Ancillary benefits also known as Voluntary benefits!

Voluntary benefits enable employers to offer their employees the ability to choose from a menu of benefits that meet the employee’s needs, even if the employees pay the full cost of those benefits.

Offering voluntary benefits for your employees through a group purchase platform can be better for both you and the employee. Here are 3 great reasons to purchase ancillary benefits through a group platform:

1. Higher guarantee issue limits
2. Fewer underwriting hassles
3. Usually lower premiums
   BONUS: many of these benefits can be paid with pre-tax dollars, which is a plus for both the employee and the employer.

Voluntary benefits could very well be the rescue employers are looking for - and in the very least - your employees will have extra protection, and it will continue to set you apart from other employers.

Would you like to know where your company fits in regard to your benefits offering? Do you have a plan for Obamacare and reform? Have you considered self-funded? We have the answers to these questions and more. Contact knowledgbroker Riley Enright for an up-to-date discussion of your benefit concerns.

Join our group on LinkedIn: Obamacare: Strategies for Business to Survive. We welcome you to join in the conversation with our LinkedIn group dedicated to discussions for business owners on Obamacare: Strategies for Business To Survive. Read articles, download documents, join the conversation, and add your expertise!

Related Article:
Ease Pain of Reform for Employees: Offer Generationally Attractive Voluntary Benefits

April 30^th was the deadline for the Wisconsin health insurers to motion if they will join the exchange. While Gov. Scott Walker rejected a state run exchange, insurers still needed to file their plan designs for the federally run exchange. However, information on their plan designs and rates will not be released by the Office of Commissioner of Insurance until July. With enrollment for the exchange scheduled to start in October for January 1, 2014 renewals; this information is essential to companies considering whether to continue offering medical benefits or to send their employees to the exchange.

Companies with 50+ employees are those mainly looking toward the exchange. The penalty for not providing health insurance is $2000-$3000 per employee per year; much less than paying for health insurance with double-digit increases on the horizon.

Reasons for the high premiums may be because of the following inclusions:

• High risk profiles for those in the exchange that other insurers won't cover.
  • Pre-existing conditions
  • Members in the Wisconsin Health Insurance Risk-Sharing Plan (HIRSP)
• New limit on ratings based on age.
  • Instant hike rates for people younger than 50

Wisconsin Business; for more information regarding R&R’s Play or Pay calculator; contact Jane Shevey.

Claim analytics reports can target high risk claims and provide ideas to lower health care costs. The average employer will pay an additional $3000-$4000 annually per risk per employee, so it is important that a company works with an insurance agent to strategize on the following:

• Isolate problem areas
• Customize a wellness program to focus on prevention and high risk reduction
• Educate employees on the effects of a negative lifestyle
• Capture premium savings by making plan changes

WellCompForLife is R&R's stretigic method to controling health care costs. For more information, contact Knowledge Broker Laura Stehno today.

Obtaining claims analytics reports and identifying areas of concern shown in the claims history can easily be done by your insurance angent. Insurance agents are the key to guiding large employers on the best approaches for their company and develop cost-savings options. Using analytical tools, such as a benchmark, will also help a company see how their plan matches up in their industry and size.

R&R's stretigic method to controling health care costs is WellCompForLife. Contact a R&R Knowledge Broker today to develop your cost-saving options.

Collecting claims analytics reports and finding trends are the first steps to keeping your health care costs under control. But what comes next?:

• Engage employees to participate in a wellness program by offering incentives.
• Participate in a health risk assessment and receive a reduction in your monthly premiums.
• Provide educational programs on general nutrition, healthy eating and stress management.
• Work with Managers/Supervisors to increase their support and change the culture to motivate employees to participate.

R&R's stretigic method for controling health care costs is WellCompForLife. Wisconsin Businesses, for more information regarding R&R's WellCompForLife, contact Laura Stehno.

Evaluating claims analytics reports have become the solution for employers who are seeking ways to regain control of their rising health care costs. Rapidly rising health care costs have consumed company’s profits and loss statements. So employers should identify problem areas, implement wellness programs and make necessary plan changes.

What medical claims impact rising insurance costs? The most commonly seen medical claims fall into six major categories:

• Asthma
• Coronary heart disease
• Depression
• Diabetes
• High blood pressure
• Obesity

Wisconsin Businesses, for more information on ways to regain control of your rising health care costs; contact a R&R Knowlege Broker today.

It only takes a few inches of water in a basement to cause tens of thousands of dollars in damage. The average water damage claim, including sump pump overflow, results in approximately $6,000 worth of damage. Unfortunately, many homeowners often overlook this protection on their homeowners policy. This can easily be added with a separate endorsement called "back up of sewer and drain" with many of the carriers we represent here at R&R Insurance.

A standard homeowners policy will not have coverage for a sump pump, or any existing drainage system, and the back ups are also not covered by flood insurance so it's a very valuable endorsement to add. The average lifespan of a sump pump is about 10 years, and eventually they do wear out, but there are a few regular maintenance checks you can do as a homeowner:

NOTE: Make sure the power cord is unplugged before any maintenance.

1. Clear the debris from the basin - Make sure any unwanted items are not stored in the basin cause the float mechanism to fail. Test the float itself and make sure it's not burned out. Fill up the pit with water, and make sure it both starts and stops as it's supposed to.
2. Inspect the "check" valve - The check valve's arrow should not be pointing toward the sump pump, and it should be set up so that when the sump pump shuts off no water will go back into the pump.
3. Clean the weep hole and/or the impeller - Some pumps have a small hole between the pump and check valve, you can clean it with a tiny object like a toothpick, but be careful not to break anything into the hole. The impeller is a small filter that can become clogged, if you hear a whining noise, it could be the impeller - and it could use a good cleaning to work properly.
4. Smells - Typical odors are caused from the sump pump's trap. You can eliminate it by using a bleach water mixture to clean the basin or you can fill the basin until the sump pump engages and cycles the water to help eliminate odors.
5. Back-up power - A back up power supply or a generator is a great idea to avoid overflow when you have an outage! Most power outages are caused by thunderstorms that bring a substantial amount of rain.

Wisconsin residents, contact an R&R knowledgebroker about adding the proper protection for your home.

A recent survey of insurers estimates that pemiums will almost triple for a 27 year-old man in 2014 as a result of the federal health reform law. Those in the health insurance industry would like to see those restrictions loosened making insurance more affordable for younger adults.

The facts: it costs six times as much to insure a 64 year-old than an 18 year-old. Simply tripling the insurance cost for an 18 year-old to help subsidize older individuals will be unaffordable and thus they will elect to be uninsured (not helping subsidize for the older age pool).

The Patient Protection and Affordable Care Act (PPACA) regulates the health insurance market in three ways:

1. All Americans must secure health coverage.
2. Because everyone must carry coverage, the law requires insurers to sell policies to whomever wants to buy them. There is also "guaranteed issue" meaning insurance carriers cannot deny coverage because of health status or history.
3. In an attempt to control the cost of coverage, there is "community rating": the law prevents insurers from charging older individuals more than three times what they charge younger individuals.

Providing a perspective from health insurance underwriters, Janet Trautwein, CEO of the National Association of Health Underwriters, has outlined the affects of health care reform: How to Help with Healthcare "Sticker Shock".

For questions on how PPACA affects the State of Wisconsin, please contact knowledgebroker & WAHU President Pete Frittitta.