TelePay Insurance

Update: Life Support for the ACA

This week (3-20-18) the ACA bill is again up for spending review and is also in a tussle with health insurers. The administration may pad the omnibus spending bill with enough cash to preserve the law through the 2020 election but there are no assurances of a fix anytime soon. Congress is debating how to handle cost-sharing reductions (payments to insurers for defraying out-of-pocket costs or deductibles for low-income individuals). These payments were stopped last year; now Washington is seekin...
Continue reading
  7 Hits
  0 Comment
TelePay Insurance

Healthcare Dilemma

Some in Washington feel that today we are closer than ever of sending ACA to the ash heap of history and opening the door for much-needed market-based solutions to health insurance. With the Tax Cuts and Jobs Act, Republicans banded together to eliminate the unpopular ACA program individual mandate. Now the administration is determined to find a better way to address our nation’s health-care needs. But despite these positive developments, both parties in Washington are considering policies...
Continue reading
  6 Hits
  0 Comment
TelePay Insurance

Latest Healthcare Reform News Updates II

March 12, 2018 An analysis from The Center on Budget and Policy Priorities says that funding the ACA’s cost-sharing reduction (CSR) subsidies in Congress’s upcoming omnibus spending bill would “do more harm than good.” When the CSR funding late last year was cut off, insurance companies raised premiums on ACA health insurance plans to make up for the loss of funding. Because of a “quirk” in the law’s structure, the increased premiums made the plans ...
Continue reading
  4 Hits
  0 Comment
TelePay Insurance

Latest Healthcare Reform News Updates

March 8, 2018 New Analysis Charts Outperformance of State-Run ACA Marketplaces The 17 states that currently administer their own ACA marketplaces perform better than the federal marketplace, according to a new The Commonwealth Fund analysis.  The results state: The data review found that state-run marketplaces have: Lower projected premiums ($633 per month vs. $526 per month) for the individual market. Lower projected medical claims ($478 per month vs. $419 per month). A lower portion of premium...
Continue reading
  2 Hits
  0 Comment
TelePay Insurance

ICE Promises Employers More I-9 Audits

Important I-9 Audit Information Employer’s Must Know The administration proposed budget for FY19 includes $47.5 billion for DHS for "strengthening border security, ensuring enforcement of immigration laws, and reforming the legal immigration system." The administration’s proposed $571 million to hire 2,000 additional Immigration and Customs Enforcement (ICE) officers and $132 million for E-Verify; The administration called on Congress to require all employers to use E-Verify to check...
Continue reading
  6 Hits
  0 Comment
TelePay Insurance

Administration Pushes Conservative Goals in Health-Care Market Changes

Insurers May Now Charge Higher Premiums to Seniors The administration would like to see the ACA market to reign in some features, such as allowing insurers to charge higher premiums to older people.  Suggested changes include: Allowing insurers to charge older people five times as much as younger people Expanding access to health savings accounts and increasing the amount of money that people can contribute to them Supporting a permanent congressional appropriation for subsidies to insurance com...
Continue reading
  8 Hits
  0 Comment
TelePay Insurance

Nation’s Biggest Health Insurer to Pass Drug Rebates to Customers

The nation’s biggest health insurer will pass drug maker rebates along to some customers starting in 2019, giving a potential break to those taking expensive prescriptions. UnitedHealthcare said Tuesday it will let people covered by certain employer-sponsored health plans collect rebates when they fill prescriptions or at the point of sale. Those rebates could amount to a few bucks or several hundred dollars, depending on the drug. Drug makers frequently give rebates for prescription drugs...
Continue reading
  4 Hits
  0 Comment
TelePay Insurance

The Real Competitive Advantage For Insurers

Up to 75% of insurance companies’ premium income goes toward paying claims. That’s why reducing the cost of claims processes offers insurers the best opportunity to impact their bottom lines. Companies that achieve operational excellence and differentiation in claims management can realize a competitive advantage resulting in better claims outcomes, reduced costs, and greater efficiency. By carefully evaluating and optimizing end-to-end claims processes, managing the quality and cost...
Continue reading
  6 Hits
  0 Comment
TelePay Insurance

Healthcare – ACA Update

The Administration voted on 2-20-18 to allow health insurers to sell lower-cost, less-comprehensive medical plans as an alternative to those required under the ACA program.   Insurers would have to make clear that the plans, which could last for less than 12 months, would be liberated from the ACA’s benefit and other mandates. The proposed regulations would: Allow insurers to sell individual consumers "short-term" policies that can last up to 12 months, have fewer benefits, and come with l...
Continue reading
  7 Hits
  0 Comment
TelePay Insurance

ACA Reporting Requirements Still in Effect for 2018

At The Close of 2017, The ACA Stands& The IRS Supports Existing Systems to Fully Enforce It Efforts of Congress to repeal the ACA don’t yet affect the IRS’ stance will support the law until the repeal is resolved.  The result is that all affected employers must file 1095-C reporting forms and provide copies to employees by the IRS deadlines, or face the consequences. Employer Deadlines Schedule Employers Must Meet For Tax-filing: February 28, 2018 — paper-filing deadline NEW DEAD...
Continue reading
  6 Hits
  0 Comment