Difference Between Basic Insurance & Major Medical Insurance | PA Benefit Advisors

Choosing a health care plan often comes down to cost, but don’t forget to compare the monthly premium with the amount of coverage you get. Major medical insurance is designed to cover you during everything from routine check-ups to major catastrophic events. Basic health insurance, by contrast, is a cash reimbursement service that can help … Continued

Benefit Plan Design: Charging Employees Different Premiums | PA Benefit Advisors

Employers who are designing a health and welfare benefit plan for their employees often wonder about the rules relating to setting premiums for employees. Employers generally have significant flexibility in this part of their plan’s design. Common structures contemplated by employers include, but are not limited to:Charging all employees a flat amount for their health … Continued

It’s Open Enrollment Time! | PA Benefit Advisors

Fall.  With it comes cooler temperatures’, falling leaves, warm seasonal scents like turkey and pumpkin pie, and Open Enrollment.  It goes without saying; employees who understand the effectiveness of their benefits are much more pleased with those packages, happier with their employers, and more engaged in their work. So, as your company gears up for … Continued

The COBRA Payment Process | PA Benefit Advisors

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) allows qualified beneficiaries who lose health benefits due to a qualifying event to continue group health benefits. The COBRA payment process is subject to various rules in terms of grace periods, notification, premium payment methods, and treatment of insignificant shortfalls.Grace PeriodsThe initial premium payment is due … Continued

UBA Special Report: How Health Savings Accounts Measure Up | PA Benefit Advisors

Employers see opportunity to drive HSA enrollment despite making modest contributions to plansUnited Benefit Advisors, the nation’s leading independent employee benefits advisory organization, finds that employers continue to seek health care cost savings through consumer-driven health plans (CDHPs) with health savings accounts (HSAs), and the less popular health reimbursement arrangements (HRAs). In a new Special … Continued

ACA Market Stabilization Final Rule | PA Benefit Advisors

On April 18, 2017, the Department of Health and Human Services’ (HHS) Centers for Medicare & Medicaid Services (CMS) published its final rule regarding Patient Protection and Affordable Care Act (ACA) market stabilization.The rule amends standards relating to special enrollment periods, guaranteed availability, and the timing of the annual open enrollment period in the individual … Continued

CMS Allows States to Extend Life of “Grandmothered” or Transitional Health Insurance Policies | PA Benefit Consultants

On February 23, 2017, the Department of Health and Human Services’ Centers for Medicare & Medicaid Services (CMS) released its Insurance Standards Bulletin Series, in which it re-extended its transitional policy for non-grandfathered coverage in the small group and individual health insurance markets.States may permit issuers that have renewed policies under the transitional policy continually since … Continued

Tax Treatment of Fixed Indemnity Health Plans | PA Benefit Advisors

A fixed indemnity health plan pays a specific amount of cash for certain health-related events (for example, $40 per office visit or $100 per hospital day). The amount paid is neither related to the medical expense incurred, nor coordinated with other health coverage. Further, a fixed indemnity health plan is considered an “excepted benefit.”Under HIPAA, … Continued

 

Megro Benefits Company

One W. First Ave.
Suite 305
Conshohocken, PA 19428
610-567-0175
800-527-3615

Email Us