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Many employers are offering High Deductible Health Plans (HDHPs) to their workforce these days, and they sometimes express concern that members with chronic conditions may delay much-needed routine care because of the financial burden they experience while meeting their deductible.

Good news is on the horizon! On July 17, 2019, the IRS expanded the list of services considered preventive and therefore able to be covered by insurance before or at a reduced deductible.

Friday, 09 August 2019 10:59

Insuring Your Bundle of Joy

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Having a baby can be extremely exciting, and there are so many things to prepare for and think about! In addition to the many other things going through your mind, here a few reminders regarding insuring your new bundle of joy: 

Employers are often considering ways to enhance their benefits packages and attract great employees. Some employers might increase their contributions towards the health plans or 401(k) matching contributions, but another option is to offer an opt-out payment for those employees waiving the company-sponsored health coverage. At Fall River we are asked about this option frequently, and we continue to evaluate the pros and cons as well as the rules of doing so.

Friday, 19 July 2019 09:47

Saving Money with Direct Primary Care

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Direct Primary Care (DPC), aka “concierge medicine,” is an alternative provider payment model gaining traction with employers who are tired of high health insurance rates and their employees not receiving the care they need. Instead of billing the insurance carrier for routine care, DPC providers usually charge a monthly flat fee which allows the member access to unlimited routine services such as laboratory services, same-day or next-day appointments, and sometimes even house calls. The savings generated by this model can certainly benefit companies, especially those that are self-funding their plans.

Friday, 12 July 2019 11:29

The Expanded HRA Rules

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In June, the Trump Administration issued new rules expanding the function of Health Reimbursement Arrangements (HRA) in an attempt to provide employers additional options for providing health coverage.  These rules, which will go into effect in January 2020, create two new ways to offer pre-tax dollars for purchasing health coverage: the Individual Coverage HRA (ICHRA) and the Excepted Benefit HRA (EBHRA).

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