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Coronavirus Preparedness Plan

Coronavirus Preparedness Plan

by | Mar 2, 2020 | COVID-19, healthcare, Wellness

Coronavirus Preparedness Plan

As we watch, wait and see the evolution of this Corona Virus outbreak, it is important that employers plan. This is not a situation where you want to panic should this hit your business.

What we know about the virus

Coronaviruses are an extremely common cause of colds and other upper respiratory infections. The symptoms can include a cough, possibly with a fever and shortness of breath. There are some early reports of non-respiratory symptoms, such as nausea, vomiting, or diarrhea. Many people recover within a few days. However, some people — especially the very young, elderly, or people who have a weakened immune system — may develop a more serious infection, such as bronchitis or pneumonia.

Should you worry about catching this virus?

Unless you’ve been in close contact with someone who has the coronavirus — right now, this typically means a traveler from Wuhan, China who actually has the virus — you’re likely to be safe. In the US, for example, all five cases of the virus were recent travelers to Wuhan. The CDC maintains the risk is low to Americans, however, “we need to be preparing as if this is a pandemic, but I continue to hope that it is not,” said Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases.

How can I protect myself? 

Much like prevention of the spread of any other infectious disease, basic hygiene principles are key to curbing the spread of this virus.

  • Wash your hands often with soap and water for at least 20 seconds. Use an alcohol-based hand sanitizer that contains at least 60 percent alcohol if soap and water are not available.
  • Avoid touching your eyes, nose and mouth with unwashed hands.
  • Avoid close contact with people who are sick.
  • Stay home when you are sick.
  • Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
  • Clean and disinfect frequently touched objects and surfaces.

Be mindful of:

  • Employee wellbeing. Monitor updates from public health officials and governments and keep employees informed and educated about the outbreak and any steps being taken to safeguard their health. Encourage employees to stay home when sick and telecommute if the outbreak worsens.
  • Travel policies. As of Monday, January 27th, the CDC has issued a stronger warning about travel, urging Americans to reconsider travel anywhere in China, issuing a stronger level 4 warning for the specific province where Wuhan is located, stating: “Do not travel to Hubei province, China” due to the coronavirus outbreak.
    The Centers for Disease Control and Prevention urges people to seek medical care right away if they had traveled to Wuhan in the past two weeks and develop a fever, cough or trouble breathing. It says older adults and people with underlying health conditions may be most at risk for severe illness from the virus.
  • Potential supply chain interruption. Identify operational and/or revenue impacts from potential disruptions to key suppliers and vendors. Also consider the possibility of sourcing good or parts from alternative suppliers.
  • Insurance coverage. Review insurance policies, prepare for potential claims, and consult your broker if you have questions.

Resource:

Please contact us for further information or if you need assistance creating a workable plan.

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NJ Employers Additional ACA 1094/1095 Reporting

NJ Employers Additional ACA 1094/1095 Reporting

by | Feb 13, 2020 | COVID-19, healthcare

As per New Jersey State Law, in addition to the original 1094/1095 filing requirements, New Jersey applicable large employers (ALE’s) and self-insured small groups MUST also file electronically with New Jersey by March 31, 2020. They will not accept paper filings.

For information on how to file electronically from New Jersey State click here.

Fully-Insured Employers: 

For employers with fully-insured plans, carriers are required to submit Forms 1095-B to the state for each covered employee who is a resident of New Jersey. Employers with fully insured plans should ensure that their carrier is submitting these forms to the state. If no forms are filed, the state can hold employers and insurers jointly liable for the failure to file forms.

  • If the carrier submits these forms, fully-insured employers do not need to submit additional reporting.
  • If the carrier does not submit Forms 1095-B to the state, employers should submit Forms 1095-B or 1095-C to the state for each covered employee who is a resident of New Jersey.

At this time New Jersey is the only state with a state specific filing requirement.

As a reminder below are the 2020 filing deadlines for 2019 coverage: 
ACA Requirement Deadline
1095 forms delivered to employees March 2, 2020 (extended from Jan 31)
Paper filing with the IRS February 28, 2020
Electronic filing with the IRS March 31, 2020
New: Electronic filing with New Jersey State  (New Jersey ALE’s and Self-insured Small Groups) March 31, 2020
Privacy concerns for non-New Jersey residents

The allowance of filings that include non-New Jersey residents raises significant privacy and legal concerns for employers who employ across the country. The State of New Jersey’s website cautions, “Out-of-state filers who provide information on non-residents of New Jersey should consult privacy and other laws pertaining to residents of other States before sending any sensitive or personal data to New Jersey.”

The 1095-C form includes the following protected information and HIPAA data:

  • Social Security number
  • Taxpayer name and dependent names
  • Date of birth
  • Health insurance enrollment dates

Employers who use this short-cut option could face sharp scrutiny from employees who do not reside in New Jersey. There may also be privacy concerns if their HIPPA protected data is provided to New Jersey without their consent.

Additional Resources

The information and materials on this blog are provided for informational purposes only and are not intended to constitute legal or tax advice. Information provided in this blog may not reflect the most current legal developments and may vary by jurisdiction. The content on this blog is for general informational purposes only and does not apply to any particular facts or circumstances. The use of this blog does not in any way establish an attorney-client relationship, nor should any such relationship be implied, and the contents do not constitute legal or tax advice. If you require legal or tax advice, please consult with a licensed attorney or tax professional in your jurisdiction.

 

 

Uninsured Decrease in USA

Uninsured Decrease in USA

by | Feb 10, 2020 | healthcare

In a presidential race, healthcare is in the news. Specifically, the number of Uninsured is growing according to some but is it? So has the number of Uninsured increased or in fact, decreased? 

In 2018, the latest data show that 91.1% of U.S. residents had health insurance of some type, whether private or public, according to a recent report from the U.S. Census Bureau. For example, health coverage rates ranged from 82.3% of people in Texas to 97.2% of people in Massachusetts.   NY Metro Uninsured:

  • NYS: 5.4% 
  • NJ: 7.4%
  • PA: 5.5%
  • CT: 5.3%

Public insurance programs include Medicare, Medicaid and VA health care, while private coverage includes insurance obtained by employees through their workplace or by individuals purchasing it from a federal or state marketplace.

To learn more about your states’s small group health coverage program contact us at info@medicalsolutionscorp.com or (855) 667-4621

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2020 Benefits Targets

2020 Benefits Targets

by | Jan 16, 2020 | Health Care Reform, healthcare, Small Business Group Health

Happy 2020! A new year. A new decade. So who doesn’t love a restart? Instead of making broad resolutions I focus on attainable goals. A few days before the New Year begins, I find some time to reflect on the current year and then write down a list of what I will accomplish in the upcoming year.

2020 Benefits Goals As you prepare your personal 2020 goals, take time to prepare your company goals as well. Your annual objectives should be financial as well as operational. Think through the different aspects of your business and make goals specific for each area. As you focus on each department, don’t forget human resources. Whether your business is large or small, your people are your most important asset. Here are some suggestions on ways to elevate HR in 2020:

Review Policies.

It is important to review your handbook and employee policies   annually for any legal adjustments. Also, read your policies carefully and make sure that you are practicing what is written. Pay attention to the Paid Time Off policy; many times, there is a disconnect between the written policy and how PTO is practiced. 

Rethink Performance Evaluations.

 Mention employee reviews to supervisors, and you will hear a collective groan. The process often feels time-consuming and ineffective. It is time to rethink the process. Tie goals to the process, consider self-evaluations, separate compensation review from performance, or scrap the annual process altogether and implement weekly check-ins.

Implement More Training.

Education is the key to improving performance. Add more to your training budget, and it will be a positive return on investment.

Audit Payroll.

2020 is bringing some changes that may affect your employees’ pay. Many states have new minimum wage requirements, and the salary threshold for exempt employees increases to $648 per week. Make sure your company’s pay processes are up to date.

Evaluate Employee Benefits.

A 2020 NY Small Group Health Plans page is a good starting point. Don’t let your renewal date sneak up on you, start the conversation with your benefits broker at least 60 days in advance. Review renewals and consider options to get the best coverage for your employees at the best price.

Consider Using a PEO.

By partnering with a Professional Employer Organization (PEO), your company can able alleviate much of the HR burden, offer top tier benefits, and propel your business forward by freeing you up to focus on business growth. Plus, companies that use a PEO have 15 percent lower employee turnover.

2020 is a new year with new opportunities. Take time to reflect and plan all that you can accomplish this year. Now, get to work! Start checking off those tasks and make this year the best ever! 

The number of small and medium-sized employers using professional employer organizations (PEO) continues to increase each year. Often, it is thought that the growth of the PEO industry is due mainly to the benefits business owners see from this partnership. However, owners aren’t the only ones who gain from working with a PEO. 

Small business employees, too, stand to benefit from the services and solutions offered by PEOs today. Let’s take a look at a few examples of the positive outcomes that small business workers see when their employer works with a PEO.

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Learn how our PEO Partnership can help your group please contact us at info@360peo.com or (855)667-4621.

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BREAKING: HIT and Cadillac Tax Repealed

BREAKING: HIT and Cadillac Tax Repealed

by | Dec 19, 2019 | Health Care Reform, healthcare, Obamacare, Tax

BREAKING: HIT and Cadillac Tax Repealed

Congress has voted to fully repeal the Cadillac Tax and Health Insurance Tax  effective January 1, 2021. This means the Health Insurance Tax will still be in place for 2020 and will be gone in 2021.
 
Both unpopular taxes with bipartisan approval delayed the Cadillac Tax but put the Health Insurance Tax(HIT) back in for 2020 earlier this summer. See Cadillac Tax Out Health Insurance Tax (HIT) Back In. Below are summaries of these two taxes that are now fully repealed.
 

Whats is the Health Insurance Tax (HIT)?

Health Insurance Tax: This tax included in the Affordable Care Act (ACA) increased the cost of health care coverage for consumers and employers in every state. The ACA imposed a new sales tax on health insurance that started at $8 billion in 2014, increased to $14.3 billion by 2018, and continued to increase each year.
 
The HIT costing an estimated 2.5%-3% added surcharge or an estimated $500/family annually and $241 for Seniors. Website Stop The Hit calculates $5,000 as the average tax for a 10 man small business for example.

 

Update:On December 20, 2019, President Trump signed into law a full repeal – with varied effective dates – of three ACA taxes: the Cadillac Tax, the Health Insurance Industry Fee (a.k.a. the Health Insurer Tax), and the Medical Device Tax. Additionally, the agreements extended the Comparative Effectiveness Research Fee (CERF) through 2029.  

The HIT fee is in effect in 2020, then fully repealed and will no longer exist in and after 2021.

 

Whats is the Cadillac Tax?

The Cadillac Tax was to take effect in 2022 and had been twice delayed since its original inception scheduled for Jan 2014. This tax called for a 40% excise tax on the amount of the aggregate monthly premium of each primary insured individual that exceeds the year’s applicable dollar limit, which will be adjusted annually to the Consumer Price Index plus 1%.
 
The 40% excise tax applies to the cost of employer health plan coverage exceeding certain threshold amounts, which were originally set for 2018 at $10,200 for individuals or $27,500 for families.
 
 
Originally, the Cadillac Tax was pushed back by the behest of Unions to 2018 from the original proposed 2014 date. Most Unions with generous health care packages would not be complaint within that time frame. For average Gold Plans in regions such as NY, the widely unpopular Cadilac Tax would have been felt.
 
Learn more about how we are successfully helping navigate SMB for 20+ years. If you have any questions or would like additional information, please contact us at 855-667-4621 or info@medicalsolutionscorp.com.

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Study: Single Payer Aftermath

Study: Single Payer Aftermath

by | Dec 8, 2019 | group health insurance, Health Care Reform, healthcare, Hospitals, MEDICARE

As Americans learn more about proposed new government-controlled health insurance systems – like Medicare for All, the public option, Medicare buy-in and other similar one-size-fits-all systems – a new study on teh aftermath of Single Payer by KNG Health Consulting is providing a glimpse into the real-life consequences these systems could have on American families. 

50% of Americans would give it thumbs up according to Kaiser Family Foundation. That majority support turns to opposition once people learn Medicare for All would ban private insurance. Turns out 70% of Americans are also satisfied with their employer-sposnored health insuarnce.   The plan grants the federal government a monopoly on health insurance — no private insurers or employers would be permitted to pay for health benefits.

Many Americans would understandably switch from private insurance to the public option. As they did so, hospitals and doctors would raise prices for the privately insured to compensate. Insurers would be forced to hike premiums in response, to cover providers’ higher payment demands. That would compel even more individuals to switch to the public option.

Some employers would surely do the same, dropping their benefits programs and encouraging their workers to enroll in the public plan. Indeed, a recent study from KNG Health Consulting found that Medicare for America — a proposal that would transfer everyone who does not receive coverage through an employer to a government-run plan — would cause one in four workers to lose access to employer-sponsored insurance by 2023. More than half of employees at small businesses would lose their employer-sponsored coverage under Medicare for America.

Download Full Study
Among the most startling findings, Medicare for America could force one-third of American workers off of their current employer-provided health care coverage, also known as employer-sponsored insurance (ESI). 

 

The KNG study on “Medicare for America” points to an unaffordable new government-controlled health insurance system that reduces Americans’ choice and control over their care.  Whether it’s called Medicare for All, Medicare for America, Medicare buy-in or the public option, Americans would pay more and wait longer for worse care.

And instead of addressing rising health care costs, the study finds that this new government-controlled health insurance system “would increase total health care spending, with the largest spending increases occurring among those who already had public coverage through Medicare or Medicaid.”

 

Hospitals would lose. Approximately 5,000 community hospitals would lose over $151 billion under a Medicare for All system, according to a recent Stanford University study. Robert Pollin — an economist at the University of Massachusetts Amherst and supporter of Medicare for All — estimates that 2 million jobs across hospitals, health care facilities and the insurance industry could disappear.

According to CBO (Congressional Budget Office) that Medicare for All could “lead to a shortage of providers, longer wait times and changes in the quality of care.”

Ultimately, the public option would be the ONLY option. The insurance market can’t function unless all the players in the market are operating by the same rules.As Seema Verma, administrator of the Centers for Medicare & Medicaid Services, rightly put it, “The public option is a Trojan horse” for Medicare for All.

So which one is it?  An added public option that doesn’t have to compete or really one costly government option? Both options seem to fall short of their ideals.   

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