- Announcing VSRA Association Dental Plan
In response to the overwhelming success of the VSRA Association Medical Plan, we are launching an association dental plan for January 1, 2012 start dates. The plan is insured by Assurant Employee Benefits, a national top ten dental insurance company with approximately 1000 network dental providers in Hampton Roads. - Read More
Another unpleasant surprise from Obamacare
by Gregg Kennerly | Published Friday, November 4, 2011
As the analysis of Obamacare goes deeper, the absurd consequences of this legislation that was crammed down our throats in the middle of the night become more apparent. Most of this is FACT, not opinion. The result makes no sense for the country. (more…)
Virginia Businesses Continue to Shift Health Insurance Costs
by Gregg Kennerly | Published Tuesday, August 23, 2011
The economy remains weak. Employers are wary of adding staff too quickly in an uncertain environment. Add the significant requirements of Health Care Reform (ARRA) to the mix of obstacles facing business and it’s no surprise that employers are reluctant to absorb additional health care cost increases.
The 2010 Employer Health Benefits Survey by the Kaiser Family Health Foundation was recently released and found that while premiums for family coverage rose a modest 3% last year, employers did not increase the percentage they contribute. According to the study results, the average total cost of family medical benefit coverage stands at an astounding $13,770 per year, or $1147.50 per month. Of this total, employees on average are paying $4000 per year through payroll deduction for family coverage. This means employers are still carrying about 30% of the family health insurance cost burden. (more…)
Free Section 125 Plan Documents Provided to Clients
by Gregg Kennerly | Published Friday, July 2, 2010
Effective July 1, 2010, ABS of VA will begin offering our clients free Section 125 Plan documents. If your company utilizes pre-tax salary reduction for benefit contributions, (and you should), your plan document must be complete and up-to-date. New regulations in 2009 required that the documents be amended and updated to maintain compliance. Let us know if you would like to take advantage of this offer to have us review your documents.
If you are not yet a client or not sure if you have a Section 125 plan- contact us and we will be happy to guide you and take care of the details.
This is just another example of how ABS strives to give you more value from your relationship with us.
Keeping You Informed
by Gregg Kennerly | Published
We’ve developed this quick reference chart to help in your understanding of when various provisions of Health Reform take effect. As you can see, provisions affecting your Group Health Plan (GHP) must be included with your first contract renewal after 9/23/2010. Mandated changes for employers and health insurance carriers concerning coverage requirements and tax implications are slated for 2014.
Locally, Anthem has agreed to immediately begin allowing currently covered dependent children to continue coverage to age 26. Optima Health is studying the regulation and has indicated it will make a decision soon on how it will implement this extension of coverage. In any event, it will become effective on your first renewal following 9/23/2010.
We will continue to keep you updated as guidelines are issued by federal regulators. Please feel free to share this chart with your business associates and friends. Please call or email us with ANY questions.
| Insurer and GHP Reform | Insurer and GHP Reform | Tax Provisions |
Effective on or after 9/23/2010
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Effective 1/1/2014
Employer ReformEffective 1/1/2014
Individual ReformEffective 1/1/2014
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Federal ARRA COBRA Subsidy Extended
by Gregg Kennerly | Published Thursday, June 24, 2010
Congress has extended the COBRA subsidy it offered under ARRA legislation. The new law extends the sign-up period through the end of February, so employees laid off in January and February of 2010 now qualify. (more…)
Announcing VSRA Association Dental Plan
by Gregg Kennerly | Published
Includes FREE Additional Benefits!
In response to the overwhelming success of the VSRA Association Medical Plan, we are launching an association dental plan for January 1, 2012 start dates. The plan is insured by Assurant Employee Benefits, a national top ten dental insurance company with approximately 1000 network dental providers in Hampton Roads.
Dues-paying members of the VSRA with between 5 and 150 employees are eligible for the no cost value-added benefits. What are the Value-Added Benefits?
- Higher maximum benefit levels provided through the Preventive Max Waiver provision. This feature excludes the cost of preventive dental care from the calendar year maximum benefit, effectively increasing the maximum by the amount of preventive care expenses, typically about $200 to $250 per year.
- Assurant is also a leader in worksite voluntary benefits. Assurant offers a complete menu of coverage types such as critical illness, term life and disability. Members will receive an additional 3% discount off their dental rates just for offering these popular benefits to employees. Even better, Assurant will do all the work of enrolling and communicating benefits to employees.
Once Assurant has provided rates for the dental plan, simply confirm that your company is a member of the VSRA, and the extra benefits will be included at no cost. Assurant’s full dental product line is available to members, and benefits may be either company paid, or completely employee funded (voluntary).
If your company already provides dental insurance through Assurant, you may add the value-added benefits on renewal by simply confirming your membership in the VSRA.
We are pleased to offer access to these valuable benefits for our members and want you to know that in addition to saving money on dental insurance, joining the plan helps support your association.
Gregg Kennerly and Advanced Benefit Strategies are the sponsoring brokers for the program, but the plan can be provided through any licensed agent appointed with Assurant.
Contact ABS at 757-536-4554, email: Gregg@absofva.com, Web: www.absofva.com
