June 2014 Meeting: Responding to Your CFO: Self-Funding and ACA Readiness
All members of HR BioTech Connect are invited to attend our next group meeting on June 25th, 2014. The keynote presentation at this event will be How do you respond when your CFO asks whether your company would benefit by being partially self-insured in this new environment of Healthcare Reform?.”
During this meeting, Ted Haughey of CBG Benefits will provide insight and strategies to help your company gain a better understanding of what self-funding an employee benefits program really means. In addition to highlighting the financial impact that the Affordable Care Act is having on employee benefits, Ted will also highlight some key compliance requirements that your company may need to address.
- Date: Wednesday, June 25th 2014
- Time: 8:30 – 10:30 a.m.
- Theme: Responding To Your CFO: Self-Funding and ACA Readiness
- RSVP/Location Info: Please contact Jeanne Nicholson
The PPACA (i.e. Healthcare Reform) has created significant differences and financial inequalities between fully insured and self-insured health plans. As a result, there has been a significant rise in employers moving to alternatively funded health insurance plans with as few as 25 employees.
How can you properly manage these rising costs? How can you take better control of your health plan with access to utilization data as a small group? How can you design plans that are tailored to the BioTech industry and meet the needs of your employees?
To help HR BioTech Connect members mitigate these challenges, Ted Haughey will provide valuable insight into the advantages of alternatively or partially funded health insurance. All attendees will leave with insight into topics such as:
- Key Features of Healthcare Reform (including the reclassification of small group coverage up to 99 lives and its negative impact on the BioTech Industry)
- Basics of partially funded or other participating health contracts
- Potential savings achieved through partial self-insurance with reduced fees and taxes
- The positive impact of customizable benefits vs. off-the-shelf plan designs
- Maintaining control and integrity of your plan when insuring employees in multiple states
- The Massachusetts marketplace and why your advisor may not be offering partially self-insured alternatives
- Real examples of how companies are benefiting from these arrangements