health insurance

Posted November 29th, 2023 in Employers, Producers

There is a new annual compliance requirement that applies to “plans” and “issuers.” For the avoidance of doubt, the term plan means employer and the term issuer means health insurance carrier.

Each year, employers and health insurance carriers must submit a gag clause prohibition compliance attestation. This will be due by December 31st of each year with the first attestation due by December 31, 2023. So, what does this really mean?

Posted May 24th, 2023 in

The Consolidated Appropriations Act of 2021 included a provision that prohibits group health plans and health insurance carriers from entering into agreements with a health care provider, network or association of providers, third-party administrator (TPA), or other service provider offering access to a network of providers that would directly or indirectly restrict a plan or issuer from:
 

Posted October 13th, 2022 in Employers

Last year, the State of Illinois passed a law called the Consumer Coverage Disclosure Act (CCDA). The CCDA requires a written disclosure to be provided by every employer who has employees in the State of Illinois and who also provides group health insurance coverage to those employees.

Posted March 31st, 2022 in Individuals

Grandmothered plans are the name commonly used for health insurance plans in the individual and small group markets that were issued after the Affordable Care Act (ACA) was signed into law (March 23, 2010) and before the so-called full implementation date of the law (January 1, 2014).

Posted February 18th, 2022 in Employers, Individuals

The Employee Retirement Income Security Act of 1974 (ERISA) requires employers to provide a Summary Plan Description (SPD) to employees if they offer health, dental, vision, life, disability, or other benefits.

Posted August 7th, 2018 in Producers, Individuals

Last week, the Trump administration issued final rules which extend the maximum duration of short-term medical plans (STM plans). STM plans can now have an initial coverage period just shy of one year (364 days). Taking into account renewals, STM plans can have a maximum duration of up to 36 months.

Posted July 26th, 2018 in Producers

Recently, we’ve been exploring the role of General Agents and addressing some of the common misconceptions that people often have about them. There’s no question that working with a General Agent (GA) can be extremely beneficial for insurance brokers. However, not all GAs are created equal.

There are different types of arrangements out there and not every organization that represents itself as a GA meets the necessary criteria. When looking for a GA to work with, it’s important to look for a “true” GA.  

Posted July 24th, 2018 in Producers
Last week, we discussed the role that General Agents play in the insurance industry and how they provide value to brokers. This week, we’d like to clear up some of the biggest misconceptions about working with a General Agent (GA).
 
    Posted July 19th, 2018 in Producers

    Did you know that a General Agent helps brokers make more money and doesn't cost a penny to the broker? Even after 30 years in the business, we sometimes get confused looks when we tell people that we’re a General Agent. As it turns out, not everyone fully understands the wide range of services provided by General Agents or the value that they bring to insurance brokers. For brokers who don’t currently work with one, there are often misconceptions about why General Agents exist, how they operate and how they get paid. Well, we’d like to take a minute to clear up any confusion.

    Posted March 29th, 2018 in Employers, Producers, Individuals
    Last week, President Donald Trump signed into law a 2,232-page federal spending bill avoiding another government shutdown. In the days leading up to the bill’ s passage, it appeared that Congressional leaders were on the verge of including funds which aimed to stabilize the Affordable Care Act (ACA). 
     

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