Among the multitude of healthcare bills Colorado’s legislators have been debating this session is HB19-1168, the State Innovation Waiver Reinsurance Program. The proposal would authorize Colorado to request federal approval to implement a state-run reinsurance program aimed at reducing individual premium costs in the healthcare marketplace.

Beginning in 2020, the Department of Health Care Policy and Financing will be required to report annual uncompensated costs and expenditure by using data submitted by hospitals. Governor Jared Polis signed the law as part of the bigger goal to reduce health care costs.

Medicare for All is a universal health care model (also known as single-payer plan) which has been developed and promoted in the past few years by Senator Bernie Sanders. This latest version is even broader, with the intent being to help more Americans access health care, especially those that are not in a traditional employment environment.

As most employers know, employees who have a traditional copay-style plan can be eligible for a Flexible Spending Account (FSA) plan to cover medical expenses pre-tax. But, If the employer instead offers a High-Deductible Health Plan or HDHP, employees can contribute into a Health Savings Account (HSA) on a pre-tax basis.

But what happens when the employer offers both a copay-style plan and an HDHP?

The health insurance broker community is not always portrayed in the best light in the media, sometimes with stories of hidden fees and behind-the-scenes bonuses due to the abuses of a few bad actors. Fall River Employee Benefits operates on a higher level, and always with honesty and our clients’ best interests in mind.

As you know, Fall River specializes in brokering group healthcare policies for our valued clients. However, we realize that benefits are just one component of your Human Resources obligations. We have spent many years cultivating solid relationships with trusted strategic partners in other areas of your business operations.

When an employee’s Group Life insurance plan ends, due to termination from the company or for other reasons, they don’t have to be left unprotected. Ex-employees are usually able to convert and/or port their coverage with the same Life carrier, but employers often are unaware of their obligations to the participant.

In late January, the Trump Administration proposed a substantial change to the way prescription drug rebates operate under Medicare Part D and Medicaid. While proponents argue that the change would help to lower consumers’ out-of-pocket costs for prescriptions, insurers warn that it would do the very opposite.

Today’s job market is extremely competitive, and it can be difficult for employers to find the most talented workers. A company’s benefit package can make one employer stand out over another, and offering additional fringe benefits could be the crucial difference in attracting and retaining top talent.

Auditing your monthly insurance carrier invoices may not be the most exciting task on the HR to-do list, but it’s absolutely necessary to ensure correct employee enrollments and premiums. In our experience, carriers are much more likely to work with employers on correcting errors caught in the first few months, rather than six months or more down the line.