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Benefits of Supplemental Accident Insurance

Tom Quigley, Vice President/National Business Consultant, provides consulting services, and is in charge of recruitment and new business for ClaimLinx.

Tom is discussing how ClaimLinx is incorporating supplemental insurance into their product line.  Our focus today is on supplemental accident policies. Who are they best suited for, what do these policies cover, and how much do they cost?

Related Post: Is supplemental coverage right for your company?

Supplemental accident policies are geared towards families with active adults and children.  If you and/or your children play sports, there is an increased likelihood for injury that may include hospitalization and rehabilitation.  Accident policies cover some or all of the cost for medical bills and lost wages depending on the severity of the incident. Policies cover what health insurance does not, and with the Affordable Care Act, more and more employers are increasing deductibles and passing on more costs to employees.  Premiums are affordable, and can be purchased for as low as $10/month. To find out more about supplemental coverage from ClaimLinx, please contact us at sales@claimlinx.com.

Related Post: Start a path to savings on insurance

ClaimLinx is positioning its clients to move in the right direction. We can structure benefits in your favor to ensure you are in full compliance with the law without cutting benefits or employees. Please contact us at at sales@claimlinx.com or(800) 858-1772 X 25 with your questions. Our new book, “How to Beat Obamacare” is now available on amazon.com.

Section 105 Plans After Obamacare

This webinar is about Section 105 Medical Reimbursement Plans after Obamacare, created by Ed Lyon, a Cincinnati, Ohio Certified Tax Coach. The webinar contains timely information for employers and employees interested in reducing their medical expenses and tax burden.

Related Post: Employers Considering Alternatives to Rising Health Care Costs

Another Affordable Care Act Mandate Delayed

The Obama administration in February announced that companies with 50 to 100 full-time workers have until 2016 to offer employees health insurance under Affordable Care Act rules. This follows a similar delay that changed the ACA insurance coverage deadline for employers from 2014 to 2015.

Companies with more than 100 employees must offer affordable health insurance to at least 70 percent of their employees by 2015, and at least 95 percent by 2016. Businesses with less than 50 employees are exempt from the mandate.

Related Post: Obamacare’s Employer Mandate and Impending Penalties

These Obama changes will affect 50 percent of the businesses that were supposed to comply by 2015. Nearly 8 million workers are employed by the affected companies,

The Obama administration said the delay will benefit employers who might offer coverage to workers who work at least 35 hours per week. Republicans continue to disagree with the delayed mandate, and believe the change should require congressional approval. according to a CNBC report.

Related Post: Breaking Down The Employer Mandate Tax Penalties

In a recent CNBC interview, a senior Treasury official said, “We’ve gotten a lot of requests to give some more time to some small businesses that would otherwise be subject to this, and we’re responding to that by addressing these businesses. We think a phase-in approach is a way to administer the law better, and enhance overall compliance with the law.”

Please read the article by Dan Mangan in its entirety here.

ClaimLinx Client Service Success Story

We originally received this member’s claim on 11/25/13. The primary carrier left the member’s balance at $7,000 which was much higher than her out of pocket maximum. This amount was questioned by the group, which prompted the Service team to contact primary to explain their process of the claim.

Related Post: Tips For Helping Members With Claims Issues

When we spoke with the primary carrier they could not explain why this claim was processed the way it was. They are going to review and reprocess all of her 2013 claims so there may be some additional refunds. So far we at least saved the group $7,000 on the one claim, but may have saved them even more once the primary carrier has reprocessed their claims.

Going above and beyond in our Client Services by researching claims and contacting primary, we were able to determine primary’s processing error and save the client and the member on their out of pocket expenses.

Related Post: What is the difference between primary and secondary coverage?

At ClaimLinx, this is just another example of how we save our clients and members money.

If you have questions about a claim or need additional information, please email service@claimlinx.com.  We would be happy to help.

Half of Employers Hiring More Employees Aged 50+ in 2014

According to a recent Career Builder Survey, 53% of employers plan to hire employees aged 50 and over in 2014 (up from 48% last year). Even though many of these workers are over-qualified, 77% of employers said they would hire them for entry level positions.

Related Post: Hiring in November and December Bolsters Job Picture

The survey brings “good news for workers looking for a new job at the end of their career,” says Michael Erwin, a spokesperson for CareerBuilder. “In ongoing discussions with employers, we constantly hear that mature workers are good hires because of the intellectual capital that they bring to the team.” Less money has to be spent training mature workers and “they can act as mentors to the younger teammates. It makes good business sense to have a diverse workforce as companies continue to come out of the recession,” Erwin adds.

Although the recession caused many workers to delay retirement plans or forego them completely, 50% of those over the age of 60 said they would be able to retire within 4 years.  Women are more likely than men to delay retirement (71% of women vs 49% of men; 18% of women over 60 say they will never be able to retire, while only 7% of men said the same).

Reasons given for delaying retirement include:

  • financially can’t afford to (79%)
  • need the health insurance and benefits (61%)
  • like their job (49%)
  • enjoy where they work (46%)
  • afraid retirement will be boring (27%)

Related Post: How Employer-Paid Benefits Affect Your Bottom Line

The good news is that as retirement funds and the economy rebound, fewer people are delaying retirement than at the height of the recession. More people are finding they are able to retire without needing a part-time job, and if they are seeking work, they are more likely to be hired according the survey findings.

Please read the article written by Melissa Winn in its entirety here.