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Issue: # 128
| November 12, 2015
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| Peyton Manning
ESPN 30 for 30 short
#mustwatchvideo click on picture |
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Dear :
Check out the above video. Very fitting right after Veterans Day. The past few months we have been fielding many phone calls on the Affordable Care Act year end reporting obligations for employers.
Beginning in 2016, employers with 50 or more employees in 2015 must:
- Provide Form 1095-C to individuals by January 31st, 2016.
- File forms with the IRS by February 28th, 2016, if reporting on paper. By March 31st, 2015, if reporting electronically.
For all size groups, employers with Massachusetts employees will still be required to issue a 1099HC to employees in addition to the new forms above. This form is completed by the Insurance Companies. Form 1095C: Most payroll companies are providing this as an additional service with a fee to complete.
Please be aware that you will have to work together with the payroll company to complete this form since they need information regarding your plan; for example, each employee you will need to know the effective date of coverage in 2015, although most will be January 1st, 2015.
If you have any questions, send us an e-mail.
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Wellness Fairs continue to succeed
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| | Thank you Fran Colantonio |
We recently conducted a wellness fair at Colantonio, Inc. in Holliston, Ma.
Employees were able to take advantage of Blood Pressure,Total Cholesterol and Glucose screenings at no charge.
In addition to the screenings they enjoyed a seated massage and reflexology hand treatment! This is a win-win event for both employer and employee.
Why should you pay attention to this? The only way you can truly contain premiums is to control claims. One way to lower claims is to promote healthier living by implementing a wellness plan.
This term is completely over used and somewhat overwhelming when you first consider implementing a wellness plan, but we think that we have made it easy to start for our clients by following these guidelines:
- FREE TESTING/SCREENINGS to employees to help catch potential problems in the early stages to avoid large claims.
- PROMOTE HEALTHIER LIVING HABITS: Some of the offerings include stretching classes, massages, reflexology and nutritionist.
- EDUCATE: Informational table on disease management including Diabetes, Healthy Heart, High Blood Pressure and Lyme Disease.
- EMPLOYEE ENGAGEMENT to PROMOTE BENEFITS: Ask your insurance and other vendors who provide benefits to show up, set up a table and answer any questions about their benefits. Use this event as an opportunity to remind employees of what you provide them.
- ADD A "FUN EVENT" TO PROMOTE BEHAVIORAL CHANGES: It helps to provide a fun or interactive activity to round off the event. To date we have found the grip strength and conditions testing to be quite popular. It not only measures an employee strength but their body fat. We also contracted with a PGA golf professional, Shawn Hester, to analyze golf swings at our last event. Local vendors such as chiropractors, optometrists, Anytime Fitness, and Worcester Fitness are always glad to participate.
There is a cost to set up a fair like this with prices ranging anywhere from $1,000 to $2,500. Remember the Wellness Fair costs, along with all of the others listed below, are eligible for the Massachusetts Wellness Credit once you have an official Wellness Plan.
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Blue Cross working to add TeleHealth for 2016
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We wrote about the emergence of this last month. Now we find out Blue Cross will be implementing this in 2016. This benefit will automatically be included in your Blue Cross plan at your renewal in 2016.
More details to follow...Some of you may have received a notice from Blue Cross about this. in short Telehealth is a real-time, video visit with a health care provider using a smartphone, tablet or computer. Members will be able to access credentialed doctors and therapists for non-urgent care in a fast and convenient manner.
If Blue Cross adds this, the other carriers will look into this also.
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MRI billing
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Like you and your employees, we have the same issues with health insurance. Recently Bill's hip was bothering him and he went to his PCP, who referred him to a specialist. That led to an MRI from MRI Shields, which eventually ended with a diagnosis of tendonitis.
Our plan currently has a $4,000 family deductible, which allows us to put money tax deductible into a Health Savings Account. The best thing about the HSA is that you can withdraw money without any tax consequences to pay medical bills, when things like this arise.
This one ailment has generated a host of bills. Always remember to wait for your Summary/Explanation of Health Benefits from your carrier then line them up with your bills:
- Specialist charge of $210, less Blue Cross discount of $52.10 = $157.90
- MRI cost $1,650, less Blue Cross discount of $1,022.98 = $ 627.02
- UMASS radiology reading MRI cost $ 327, less Blue Cross discount of $208.38 = $ 118.62.
- Although the bills looked like we owed $2,187, the negotiated fees with Blue Cross resulted in a cost of $903.52.
Lastly the Summary of Benefits also tracks where you stand with your deductible, which is currently now at $1,231 of the $4,000. It can be confusing when you start getting multiple bills. Don't pay them right away - wait for the Blue Cross (EOB) Explanation of Benefits.
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Don't forget to remind employees to take advantage of the following reimbursements from the health insurance carriers:
1) Annual Fitness Reimbursement
2) Annual Weight Loss Reimbursement
For the Employer:
For those of you that have group disability plans, you will receive the year end report of either taxable or nontaxable wages. Some of you have elected to have the insurance carrier prepare the W-2 for those who have collected benefits.
For those of you who are responsible to report this information to your payroll company, please make sure you have supplied this information to payroll BEFORE they prepare the annual W-2 forms. Payroll companies will charge you to do the W-2's over again if you forget to submit this info.
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