When Health Care Reform takes effect, companies with more than 50 employees will either offer health care benefits or face penalties. And the choice isn’t as straightforward as it may sound. In many instances companies will save money by paying the fines rather than funding a health care plan. Others will lose money if they drop coverage.
Most employers would like to offer the benefit, but it needs to be truly affordable.
The Affordable Care Act (ACA) established new guidelines to regulate and encourage the use of workplace wellness programs. In 2014, these rules allow employers to increase incentives or rewards offered as part of a health-contingent wellness program, provided the program follows certain guidelines.
On February 10, 2014 the Department of the Treasury and the Internal Revenue Service announced that the Affordable Care Act's health coverage mandate for some employers will be delayed another year until 2016. The impact is to employers with 50 or more employees, but fewer than 100 employees, working at least 30 hours per week.
In great anticipation of John Torinus headlining this year’s Human Capital Summit on Solving Health Care on March 13, 2014, we are sharing his blog content. Stay tuned for more posts and insight from John as we get closer to our event!
The soap opera titled ObamaCare keeps burning and turning, and the episodes to come promise to be as unpredictable as the ones playing out.
In great anticipation of John Torinus headlining this year’s Human Capital Summit on March 13, 2014, we are sharing his blog content on the 5 Steps To Control Health Costs. This content was derived from his book The Compay That Solved Health Care. In addition to this topic, John will bring new insight during our event from his latest book Opt Out On Obamacare, Opt Into The Private Heath Care Revolution.
Any organization can take immediate steps to tame the hyperinflation of health care costs and premiums. Innovators in health care delivery in the private sector have paved the way to proven methods for cutting costs. Not surprisingly, managing costs and improving health go hand in hand. Here are the basic steps that managers can take to not just curtail costs, but to reduce them:
For most employees, vending machines represent eating based on necessity or impulse. Employees may turn to vending machines when they skip breakfast, miss lunch, have afternoon hunger pains or have to stay late at work – or just have a craving for something sweet. The snacks offered in vending machines are generally unhealthy, but in many situations these snacks are the only food available.
Snacking on soft drinks, candy bars and chips several times a week can detract from an overall healthy diet and lead to weight gain. Plus, many of the typical vending machine choices offer little nutritional value or substance, and could leave the employee hungry again soon after – leading to more unhealthy eating. This can drastically affect your health care costs, as obesity is a catalyst for many other illnesses such as high blood pressure, diabetes and heart disease. Even employees who are health-conscious often forget to bring healthy snacks to work, leaving the vending machine as the only option.
A company’s success or failure is often determined by the quality of its employees. Offering an attractive benefits package can be a key to attracting and retaining the highest quality employees. Long-term care insurance is a growing trend in the employee benefits arena. According to research by the Employee Benefit Research Institute, 22 percent* of companies now offer long-term care insurance to their employees as a voluntary benefit.
What Is Long-Term Care?
The key to an effective wellness program is communication. Your employees must know about the programs and understand how they can benefit. Here are five strategies to help you achieve your goals:
In light of the increased HIPAA enforcement activity, covered entities and business associates should review their existing HIPAA Privacy and Security safeguards to determine if you sufficiently protect Protected Health Information (PHI). If applicable, the safeguards should address how to protect PHI taken off your premises either on paper or electronically (for example, on a laptop computer). Also, covered entities and business associates should confirm that any employees with access to PHI have received the necessary HIPAA training. In addition, to avoid HIPAA’s breach notification requirements, PHI should be secured (that is, encrypted or destroyed), to the extent possible.
The Department of Health and Human Services (HHS), through its Office for Civil Rights (OCR), is responsible for enforcing the HIPAA Privacy and Security Rules. Although OCR has been enforcing HIPAA’s rules since 2003, the Health Information Technology for Economic and Clinical Health (HITECH) Act, which was enacted as part of the American Recovery and Reinvestment Act of 2009, significantly enhanced OCR’s enforcement authority.
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