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Issue: # 107
| December 9 , 2013 |
 | | Advantage Benefits Wellness Fair |
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Dear :
If you enjoy our videos, please make sure you click on the above one. Check out the Health & Wellness Fair we conducted for one of our clients. It was a fun and educational event that employees participated in, as well as a forum to showcase the benefits the employer provides.
Over the past few months, we've discussed the Commonwealth of Massachusetts Wellness Tax Credit. Employers can receive up to 25% of expenses to a maximum of $10,000. We can show you how to take advantage of this. You can have a wellness event just like in the video above. Why not let the State of Mass pay for it!
Why is the Commonwealth of Massachusetts doing this? The only way to control health insurance premiums is to control claims. The best way to control claims is to have a healthy workforce! Even if you are in the small business (less than 50 group pool), you should encourage employees to go for annual physicals and maintain a healthy lifestyle. As more groups encourage wellness the claims of the pool will improve.
Thank you very much to Mark Langevin, President and Steve Leonard, CFO of Phoenix Communications of Shrewsbury, Mass for allowing us to film this video. The event was a lot of fun and employees were very engaged. Congratulations on your new facility in Shrewsbury and for taking a big step towards wellness.
Send an email to Bill or Vanessa today for details, if you would like to do a Wellness Fair at your business.
Sincerely,
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Michael Graham radio show
Sponsoring a show
Next Wednesday, we will have Michael in our office in Worcester doing his show live talking about health insurance and the Worcester Airport. Listen in.
Funny video
 | | Ron Burgundy interviews Peyton |
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Individual Federal Mandate Penalty
Revised January 1st, 2014
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Here is video of what the Federal Penalties will be not for having health insurance in 2014.
 | | Penalty for not having health insurance |
Now after you watch this video, how many healthy uninsured people do you think will enroll to avoid the penalty?
We see only the bad risks enrolling, the experience in these exchanges will not be good, which will result in large increase in the proceeding years due to the bad claims experience.
Even in 2106, the penalty will only be $695. The penalty is considerably more, but compared to the cost of premiums, you will still see a certain segment of the population go without insurance.
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Massachusetts Individual Mandate
Started in 2006
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- Employer penalty
- Individual penalty
The employer penalty for employees with 10 or more who did not make a Fair Share Contribution has been repealed this year for effective 2014, Boston Globe article, In 2015, the employer will come back on the Federal Level.
The individual penalty has not been repealed . In 2014, if you do not have health insurance, an individual will pay:
- Federal penalty
- State penalty
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