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How does the Supreme Court’s ruling on Same Sex Marriage effect your health plan?

How does the Supreme Court’s ruling on Same Sex Marriage effect your health plan?

On June 26, 20013, the Supreme Court, in U.S. v. Windsor, ruled that Section 3 of the federal Defense of Marriage Act (“DOMA”) is unconstitutional. Section 3 of DOMA had provided that only persons of the opposite sex could be recognized as “spouses” and “married” for purposes of federal law. Because DOMA had limited the definition of “marriage” and “spouse” to only opposite-sex...

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SBC Notifications (PPACA) Coming Soon!

SBC Notifications (PPACA) Coming Soon!

The first question we have to answer is what in the world is an SBC?  The acronym SBC stands for Summary of Benefits and Coverage.  The new standards relating to the Summary of Benefits and Coverage (SBC) for group health plans and health insurance issuers offering group or individual health insurance coverage are designed to provide improved information for consumers to better understand the coverage they have and allow them to compare...

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The Latest on Healthcare Reform

The Latest on Healthcare Reform

Waiting for the Supremes Odds are the Supreme Court will rule on the health reform law next week. It could be this week, or the Court could even decide to extend its current term – which is scheduled to end on June 30 – into early July and issue a decision then. But conventional wisdom has always been that the health reform decision will be handed down at the very end of this Court term, probably on June 25 or 28. Of course, nobody outside...

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Making the Jump to Self-Funding. Part III

Making the Jump to Self-Funding. Part III

Well, it is sad to say that part three will be the final piece of the series.  In the first installment of Transitioning to Self-Funding we took a brief look into designing the self-funded plan and what that would look like for employers.  The second article touched on finding the right administrator/TPA.  Today’s article is going to focus on potential “high-risk” areas in the self-funding concept.  Addressing High-Risk Areas Moving to a...

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Making the Jump to Self-Funding, Part 2

Making the Jump to Self-Funding, Part 2

Finding the Right Administrator The second step in the transition to Self-Funding is for the broker and employer to find a third-party administrator (TPA). The TPA will take on the job of becoming the health insurance services/operations manager that make a health care plan work smoothly.  The good TPA is strongly suited to manage the employers health care plan and minimize risk associated with partial self-funding. Employers who now...

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What is ERISA?

What is ERISA?

Any insurance agent with a state license has spent a good amount of their career discussing ERISA in some fashion.  Now is probably a good time to teach the rest of the “non-insurance” world what this is all about. The acronym stands for Employee Retirement Income Security Act of 1974. ERISA establishes minimum standards for retirement, health, and other welfare benefit plans (including life insurance, disability insurance, and...

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