Producers

Posted March 11th, 2013 in Employers, Producers

ACA Participation RequirementsThe U.S. Department of Health and Human Services (HHS) released final regulations on February 22, 2013 in regards to various health insurance market rules. The new guidance includes information about minimum participation requirements in the small employer marketplace. In most states, small employers are defined as those with 50 or fewer employees.

Insurance companies today require a minimum percentage of employees to enroll in coverage. This is referred to as the participation requirements and helps insurance companies avoid adverse selection. Minimum participation requirements can be up to 75% today.

Posted March 7th, 2013 in Employers, Producers

Small employers able to provide simple, effective program with defined contribution strategy and online insurance marketplace.

InsureXSolutions® recently announced more small businesses in the Chicagoland area are looking to adopt a private health insurance exchange as an alternative to increasing healthcare costs. Through a defined contribution benefits strategy and the use of a private insurance exchange, businesses can now take control of their healthcare spending and offer a personalized insurance buying experience for employees.

Approximately 75 percent of Illinois employers have fewer than 50 employees, according to Kaiser Family Foundation. Of those employers, only a third currently offer group health coverage due to expensive premiums, participation requirements or other challenges that exist in today’s marketplace.

Posted March 5th, 2013 in Individuals, Employers, Producers

The U.S. Department of Health and Human Services (HHS) posted final regulations about the deductible and out-of-pocket limitations to the Federal Registrar on February 25, 2013. Section 1302(c) of the Affordable Care Act (ACA) specifies that the maximum deductible for a qualified insurance plan cannot exceed $2,000 for single coverage and $4,000 for family coverage.

Posted February 28th, 2013 in Individuals, Employers, Producers

The U.S. Department of Health and Human Services (HHS) released the final regulations about Essential Health Benefits (EHB) on February 20, 2013. The guidance defines the benefits that must be included with all fully insured plans sold inside and outside of the public exchanges in 2014. This will impact all individual health plans and most small group health plans. Grandfathered plans and self-insured plans are exempt from the EHB requirements; however, self-insured plans that cover any EHB must provide coverage without any annual or lifetime dollar limits.

Posted February 13th, 2013 in Individuals, Employers, Producers

Important milestones are a special time to reflect on the past, celebrate achievements, create a vision for the future, and express appreciation.

This year, we at Flexible Benefit Service Corporation (Flex) expect to do no less as we proudly mark our 25th anniversary.

Posted January 24th, 2013 in Employers, Producers

The Affordable Care Act (ACA) mandates that all Americans have health insurance or pay a penalty. If you’re an American, just look to the mirror to see who’s going to be affected.

Posted December 13th, 2012 in Producers

Just like a certain beloved movie from the ‘80s that used a DeLorean to take us to the future, we now have a vehicle that can be used today, in 2014 and well beyond – defined contribution health benefits.

Health insurance producers and consultants should educate their clients on the defined contribution benefits strategy now because this trend is not going away anytime soon. In fact, nearly 50% of employers “definitely or probably will” switch to defined contribution in 2013.

Posted November 27th, 2012 in Producers

Opportunity's always knocking. Just open the door.

If everyone knows that a bird in the hand is worth two in the bush, then why isn’t cross-selling a universal practice? Cross-selling is a great tool for client retention, as well as prospecting. Your clients and prospects may not be aware of the full portfolio of your offerings.

So, don’t think twice about reviewing all options during the renewal/enrollment process. This is your opportunity to suggest how they can enhance their benefits program. And yes, even if they feel satisfied with what they offer currently.

Posted November 6th, 2012 in Individuals, Employers, Producers

In their own words, politicians on either side of the fence agree that the middle-class is hurting.

“Middle-income families are being crushed.” – Mitt Romney

“The Middle Class has been buried.” – Joe Biden

A hot topic during the 2012 presidential election has been health care reform and the Affordable Care Act (ACA). American workers are paying more out of their pocket for health care expenses than ever before. No matter which party line you side on – everyone seems to agree that the financial burden carried by the middle class is disproportionate in one way or another.

Posted October 30th, 2012 in Producers

The Affordable Care Act may have some health insurance producers feeling anxious, but the proactive producer will stay educated and know every option out there to remain a key player in the distribution of health insurance. From timely topics such as Medicare, and trending topics like consumer driven health plans (CDHPs) and our own private insurance exchange, which was designed with the producer in mind – we are discussing what matters most to your future – right now!

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