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Worksite vs. Voluntary Benefits

Worksite vs. Voluntary Benefits

The terms Worksite and Voluntary benefits in the insurance industry can and have been widely misused for some time.  Employers are lost over the difference between the two. Do a Google search for these names and the insurance marketplace will even do a poor job of deciphering the differences! Worksite premiums have increased from $2 billion worldwide in 1997 to $5.4 billion in 2009.  Shifting costs from an employer to employee, Healthcare...

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Three Health Benefit Cost Drivers Central to Battling Rate Increases

Three Health Benefit Cost Drivers Central to Battling Rate Increases

Most employers are encouraged to “deal with” rate increases, not solve them. Hoping to halt spiraling costs, they search fruitlessly for some magical carrier who somehow has an inside line on “the best discounts” in the medical provider network. In the end, most find that it’s the same old cost shifting shuffle: the bulk of the so-called lower rate increase is passed along to employees through higher deductibles, higher co-pays, higher...

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New PPACA Manager added to Agency Management Tool

New PPACA Manager added to Agency Management Tool

ACAManager is a large-scale ACA compliance solution for brokers and their employer groups. The Omega Benefit Group is really excited to show you one way our agency is tackling Healthcare Reform and the logistics facing employers both large and small.  From time to time our team get’s the latest program to help our clients in various regulatory compliance. Unlike the competition, ACAManager unites comprehensive benefits administration...

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Calculating Employer Size for 2015

Calculating Employer Size for 2015

What is an “Large Group Employer” and why does it matter?   The ACA requires Applicable Large Employers (ALEs) to offer affordable, minimum value coverage to their Full Time Employees or face thousands of dollars in penalties. An Applicable Large Employer (ALE) is an entity (including a single employer or group of employers un-der common control) that employs an average of 50 Full Time Employees, including Full Time...

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News Update: Aetna to Acquire Coventry Healthcare

News Update: Aetna to Acquire Coventry Healthcare

On Monday, August 20, Aetna announced it has entered into a definitive agreement to acquire Coventry Health Care, Inc. As you know, Coventry is a diversified managed health care company that offers a full portfolio of risk and fee-based products, including Medicare Advantage and Medicare Part D programs, Medicaid managed care plans, group and individual health insurance, coverage for specialty services such as workers’ compensation, and...

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Top 10 Reasons to Work with Omega

Top 10 Reasons to Work with Omega

  Our agency is becoming a thought leader in your market   Today’s employee benefits/insurance market has forced the C-Suite, HR staff and Office administration to be more proactive with their benefits program, especially with healthcare reform looming. The Omega Benefit Group delivers enterprise level solutions to companies at an affordable price… and by affordable I mean FREE!  No, for those of you wondering we are...

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