Defined Contribution is one of the biggest healthcare buzzwords of the year, and experts agree there is a massive shift in the market from employers offering a 'defined benefit' to offering a 'defined contribution'. Just as the healthcare industry is evolving, so is the concept of Defined Contribution. Here's a look at the top three ways Defined Contribution is changing in 2014.
Traditionally, U.S. businesses have paid premiums to insurance companies to cover workers with a single "defined benefit" group health insurance plan. However, due to changes in the individual market, most businesses are considering a switching to "defined contribution" health benefits, where employers give workers a monthly allowance to purchase their own "individualized" coverage through a private or public health insurance exchange.
Employers often ask if there is a right way to end a group health plan. This question is becoming more and more common as companies of all shapes and sizes end group health plans to adopt alternative health insurance solutions such as "Pure" Defined Contribution. So, is there a right way to end a group health plan?
The Affordable Care Act (ACA) requires CPAs, Tax Advisors, and Accountants to be experts on the key provisions of health care reform. As a result, CPA's are becoming one of the "go-to" professionals for health insurance decisions.
If you're one of the thousands of small businesses who had their stand-alone Health Reimbursement Arrangement (HRA) canceled due to the Affordable Care Act, you might be wondering about options. This article looks at three HRA-like options for small businesses facing a stand-alone HRA cancellation.
As of January 1, 2014, households with income between 100% and 400% of the Federal Poverty Level (FPL) who purchase coverage through a state health insurance marketplace may be eligible for a federal premium tax subsidy to cap the cost of their premium.
One of the purposes of the health insurance exchanges created by the Affordable Care Act is to create competition in the individual health insurance market, increase cost transparency, and drive down prices. Now that the public individual health insurance exchanges are up and running, how competitive are they?
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.