3 Mistakes Businesses Make in Buying Health Insurance and Employee Benefit Plans in Virginia

"...your unbiased advocate, providing expert strategy matched to your company's goals and objectives"

 

Healthcare benefits, health insurance, medical benefits; whatever you want to call them- healthcare in the U.S. is under unprecedented scrutiny. The course of healthcare reform is uncertain at this point- but what is certain is the pain of paying for health coverage by employers and their employees. There are some relatively easy steps that employers can take to lower costs now and make sure they haven´t made one of several common mistakes in providing medical benefits. (more…)

  • June 2018
  • May 2018
  • April 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • February 2016
  • July 2015
  • June 2015
  • February 2015
  • September 2014
  • May 2014
  • April 2014
  • March 2014
  • December 2013
  • November 2013
  • September 2013
  • August 2013
  • March 2013
  • December 2010
  • August 2010
  • July 2010
  • June 2010
  •  
     

    As the second largest personnel expense for a company behind salaries, healthcare costs continue to increase faster as a percentage of business revenue than any other single factor. The effort to curb healthcare cost increases has become one of the most important and contentious issues of our time.

    The initiatives offered by congress and private industry are many and varied. The complex healthcare cost issue has tentacles that touch almost every sector of the economy, with downstream consequences that are impossible to predict. However, there are a number of strategies that businesses can implement to lower overall costs, help improve employee health, and create better financial outcomes for their health insurance plans. Doing nothing will certainly not improve the situation or give you an edge over your competitors. So what can be done? (more…)

  • June 2018
  • May 2018
  • April 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • February 2016
  • July 2015
  • June 2015
  • February 2015
  • September 2014
  • May 2014
  • April 2014
  • March 2014
  • December 2013
  • November 2013
  • September 2013
  • August 2013
  • March 2013
  • December 2010
  • August 2010
  • July 2010
  • June 2010
  •  

    Employee Benefits are an integral part of business and culture in the United States. Attracting and keeping top talent to stay competitive in the market is the traditional reason employers spend huge sums on employee benefit plans. If not addressed properly, generational differences in the valuation of benefits in the workplace can easily become a source of unexpected tension that can reduce the value of benefit plans.

    Why is all this important? The MetLife 7th annual employee benefits trend study in 2008 indicates that benefit satisfaction has a positive relationship with job satisfaction. Among employees across all generations who said they were highly satisfied with their benefits, 73% were also satisfied with their jobs. Only 22% of those employees who were not satisfied with their benefits were satisfied with their jobs. (more…)

  • June 2018
  • May 2018
  • April 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • February 2016
  • July 2015
  • June 2015
  • February 2015
  • September 2014
  • May 2014
  • April 2014
  • March 2014
  • December 2013
  • November 2013
  • September 2013
  • August 2013
  • March 2013
  • December 2010
  • August 2010
  • July 2010
  • June 2010
  •  

    Healthcare industry professionals and political pundits are early in the process of assessing the intended and unintended consequences of healthcare reform. One thing is certain: The Patient Protection and Affordable Care Act will radically change the landscape of healthcare in the United States. Somewhat ironically, the reform bill doesn’t directly address affordability. Most provisions focus on access to care and health insurance market reforms rather than underlying cost structures.

    When do the provisions take effect? Although many of the provisions have been touted as “effective immediately”, the earliest any of the regulations become effective is September 22, 2010, or the first health insurance plan year on or after September 22, 2010. In essence, insurance companies and employers are given six months from the effective date of the law to make the changes. These generally will be effective October 1, 2010 at the earliest, and September 1, 2011 at the latest. Among the changes effective in this early stage are: (more…)

  • June 2018
  • May 2018
  • April 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • February 2016
  • July 2015
  • June 2015
  • February 2015
  • September 2014
  • May 2014
  • April 2014
  • March 2014
  • December 2013
  • November 2013
  • September 2013
  • August 2013
  • March 2013
  • December 2010
  • August 2010
  • July 2010
  • June 2010
  •  

    Fresh Ideas

     

    Contact us

    Phone:
    757-961-3319

    Address:
    One Columbus Center Suite 600
    Virginia Beach, VA 23462

    51 Court Pl.
    Charlottesville, VA 22901