The requirement for employers to provide notice of Insurance Exchanges to their employees will not take effect on March 1, 2013 as originally planned.

They now estimate  the notice requirement will take effect late summer or fall of 2013, which would coincide with the Exchanges\’ open enrollment period.

They are also considering providing a template with generic language that employers can use to satisfy the notice requirement.  For more information http://cciio.cms.gov/resources/factsheets/aca_implementation_faqs11.html

Insurance carriers and group health plans (including self-insured employer plans), must provide a Summary of Benefits and Coverage (SBC) to all participants and beneficiaries who enroll or re-enroll in group health coverage through open enrollment periods beginning on or after September 23, 2012.    There are steep fines applied to those who fail to comply, ranging from $100 to $1000 per employee.  Full compliance includes meeting rigorous guildelines regarding:

Formatting:  The SBC can be \”provided either as a stand-alone document or in combination with other summary materials.  For health insurance coverage provided in the individual market, the SBC must be provided as a stand-al;one document.

Non-English Language Requirements:  The SBC must be supplied in a  culturally and linguistically appropriate manner when 10 percent or more of the population residing in a county are literate only in the same non-English language, as determines based on American Community Survey data published by the United States Census Bureau.

Special Rule:  Group health plans and health insurance issuers must use the full, authorized SBC template even during this first year of the new law\’s applicability. 

Uniform Glossary:  The plan issuers must also deliver a Uniform Glossary of healthcare terms to make it easier for plan participants to understand the language used in the SBC and other plan documents.

The SBC must be provided to a plan participant on several instances:

• Upon application
• By first day of coverage (if there are any changes)
• Special enrollees
• Upon renewal
• Upon request (no later than seven days from receipt of request)

For more details, please refer to the three FAQ documents published on the DOL website

Ask Yourself:

• Do you have employees that travel on company business?
• Do you have multiple officers?
• Do you have employees that drive company-owned vehicles?
• If the answer to any of these questions is \”YES\” you should consider Business Travel Insurance. 

Did you know?

• Accidents are the #1 cause of death for American under age 44, according to the National Safety Council\’s 2007 Injury Facts. 
• Employees who travel on domestic or international business may be putting themselves at rick on your company\’s behalf.
• An employee\’s family may face financial difficulties if the wage-earner suffered sever injuries or death during a business trip. 

Business Travel Accident Insurance offers:

• High-limit, employer-paid financial protection for employees who travel on domestic or international business.
• Premium cost is comparatively lower than other form of insurance.
• Federal tax-deductible premium for employers; no cost or federal taxes for employees or beneficiaries;
• Multi-national coverage for U.S.-based firms includes foreign employees and U.S. employees on overseas assignments.

The Medicare Open Enrollment Period for  2013 is here! For a quick rundown on what you need to know, take a look at this basic Q&A.

  1.      What is it?

Throughout the year, Medicare has different enrollment periods. The Open Enrollment Period, or OEP, is the timeframe during which Medicare beneficiaries (people with Medicare) can make changes to their Medicare plans.  OEP comes in the fall and will take place October 15 through December 7, 2012.  Any changes you make to your Medicare plan during this period go into effect on January 1, 2013.

  2.      What changes can you make?

During OEP, you can…

• Switch from Original Medicare (Medicare Parts A and B) to a Medicare Advantage (Medicare Part C) plan.
• Switch from a Medicare Advantage plan back to Original Medicare.
• Switch from one Medicare Advantage plan to another. This might involve switching from a plan without Medicare Part D prescription drug coverage to one that has it, or vice-versa.
• Make changes to your Medicare Part D prescription drug plan:
  • Join a Part D plan.
  • Switch from one Part D plan to another one.
  • Drop your Part D plan altogether.

Note: Medicare Supplement Insurance plans are an exception. You can join one at any time during the year, not just during OEP.

  3.      Why is OEP so important?

Once the Medicare Open Enrollment Period closes on December 7, you can’t make any changes to your Medicare plan until the following year. There are some exceptions, such as if you move out of the area served by your plan. But for most people on Medicare, the OEP is the only time when you can make a change.

  4.      Do you have to make a change during OEP?

Absolutely not! If the Medicare coverage you have now is working for you, and your plan(s) is offered for 2013, then you can keep your coverage as it is. However, because this time comes but once a year, it’s a good idea to evaluate your coverage during Open Enrollment Period every year. That way, you’ll know if you already have the best coverage options for you, or if you need to make some changes. Thinking about some of the bigger issues and questions connected with your Medicare coverage for 2013?  We can help you evaluate your current 2012 Medicare coverage and assist you to know what decisions to make during Open Enrollment Period for 2013.  Call us today at (909) 392-5535.

Simple answers to health reform’s complex issues facing every employer and what you can do now to protect your business – and your future.  A Guide for Employers.

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