Employer Tax Penalties

Employers Who Reimburse Their Workers for Health Care Costs Will Face Massive Tax Penalties Starting July 1, 2015

Many small companies provide coverage by directly reimbursing medical costs or for the cost of private individual insurance.  Businesses do it because it is less complicated process than dealing with an official group health plan, but continuing to do so after July will cost them $100 a day fine.

The penalties will only affect businesses with less than 50 employees. Those with more than 50 employees are already required to offer a group health insurance plan.

 Employers cannot give money to an employee to purchase health insurance. Employers cannot pay for individual health insurance.

Important News About Louisiana Co-op

Let me start this out by saying, please don’t stress. I’m doing that for you, and you’re welcome.

Louisiana Co-Op made a huge announcement last week, and it’s not fun. They will no longer offer health insurance in Louisiana after December 31, 2015.

 Since the media has already gotten their hands on this, it’s no secret why Louisiana Co-Op made this decision. The Affordable Care Act has indeed helped millions of people, it’s true. But I’m a realist and the fact remains that The Affordable Care Act has hurt just as many. We are seeing increased doctor shortages, network shortages, premium increases, deductible increases, a constant state of confusion, and insurance companies going out of businesses or being acquired. The simple fact that premiums coming in vs. claims payments going out just doesn’t add up and Louisiana Co-Op can see the writing on the wall. Unfortunately, this is just the beginning.

 Here’s what you need to know today:

My team and I will work with each of you to ensure you have all of your options in a clear, concise and timely manner. (It is important that you read each email we send out. In many cases this is the most efficient way to communicate with our clients.)

 It has always been my mission to know every plan, carrier, and network – inside and out. My mission remains the same.  We will help you figure out which insurance plan works best for you and your family.

It will be a new playing field starting November 2015 when the Affordable Care Act Open Enrollment begins for new plans starting January 2016. This will mean new health insurance rates, plans, networks, and probably new insurance companies, altogether. We are basically in limbo at the moment.

 Remember, Trish Freeman Insurance Services is an Independent Agency which means we represent ALL insurance companies. Aetna, Blue Cross Blue Shield, Cigna, Coventry, Humana, UnitedHealthcare, and Vantage, just to name a few. We work for YOU, not the Insurance Company.

What can I do now?

This announcement does not affect your coverage through the end of the year. There is no need to do anything right now.

 Shopping for 2016 plans is expected to open mid October, when insurers are allowed to publicly release the full range of plan offerings for the coming year.

Remember, we are here for you and I promise we’ll guide you through this maze. There is no reason to go through this alone. We are the experts and can help walk you through this transition.  If you qualify for a subsidy, we will walk you through the MarketPlace and plan selection. If you don’t we will walk you through plan selections outside of the MarketPlace.

 You can contact us via email at trish@insurancelady.com or at (225) 622-6554. We are living through some crazy times, but we will get through this TOGETHER! Please rest assured that my team and I are here to serve you!

 Thank you for your continued trust and support!  I am truly honored that you continue to choose me as your INSURANCE LADY!

 Trish Freeman, The Insurance Lady

Trish Freeman Insurance Services

Humana Cost Comparison Tool

Humana’s new Cost Comparison Tool is now available to Group members on the MyHumana website to help them estimate and compare medical costs in their area prior to a procedure. The tool is designed to help members evaluate their options, understand what to expect during the course of a treatment, save time, and spark conversations with their doctor about ways to save money on healthcare.

Humana Group members can access the Cost Comparison Tool by logging onto myHumana, scrolling to “Plan Tools,” and clicking on “Cost Comparison Tool.”

Q. What is included in my estimate? What happens if I receive additional treatment during the actual procedure or service?

A. Your estimate includes costs for a specific group of procedures and services you will likely receive at a facility over the course of your treatment. If you receive any additional care during the treatment procedure or service, there will be additional medical expenses.

Depending on your plan, you may be responsible for paying some or all of those additional costs. Please note: these estimates are for informational purposes only.

Q. Should I talk with my doctor about treatments, procedures or services I saw on the Cost Comparison Tool?

A. Yes! Please talk to your doctor, dentist or other healthcare provider about what type of care is best for you. We have heard from doctors, and they actually appreciate informed questions. In addition:

• Print your cost estimate and bring a list of questions about treatment options and costs with you.
• If you have medical or health-related questions, contact your healthcare provider.
• Let your provider know your plans before you take any medicine, change any medicine or stop any treatment. If you think you may have a medical emergency, immediately call 911.

Q. Will the Cost Comparison Tool tell me what healthcare I need?

A. No. The Cost Comparison Tool is for informational purposes only. It is intended to help you:

•  Evaluate your options.
• Understand what to expect during the course of a treatment.
• Spark conversations with your doctor.

The information here or on any linked sites is not a substitute for the medical advice of your doctor, dentist or other healthcare provider. However, we endorse guidelines developed by health experts at federal agencies such as the Centers for Disease Control and the U.S. Department of Health and Human Services. Your doctor or dentist may use these guidelines to plan your general wellness care and other types of treatment.