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Price Shop Healthcare | Ohio Benefit Advisors

As the costs of health care soar, many consumers are looking for ways to control their medical spending. Also, with the rise of enrollment in high deductible health plans, consumers are paying for more health care out-of-pocket. From medical savings accounts to discount plans for prescriptions, patients are growing increasingly conscious of prices for their … Continued

Benefits of an Annual Exam | Ohio Benefit Advisors

Benefits of going to your annual physical include both cost savings and gaining knowledge.

Benefits Easy: Intro to Self-Funding | Ohio Benefit Advisors

As we head into the second month of 2018, companies have already begun the arduous task of submitting budgets and finding ways to cut costs for the new year. One of the most effective ways to combat increasing health care costs for companies is to move to a Self-Funded insurance plan. By paying for claims out-of-pocket instead of paying … Continued

Why Private Exchanges Haven’t Taken Off As Predicted | Ohio Benefit Advisors

While the health care affordability crisis has become so significant, questions still linger—will private exchanges become a viable solution for employers and payers, and will they will continue to grow? Back in 2015, Accenture estimated that 40 million people would be enrolled in private exchange programs by 2018; the way we see this model’s growth … Continued

Cafeteria Plans: Qualifying Events and Changing Employee Elections | Ohio Benefit Advisors

Cafeteria plans, or plans governed by IRS Code Section 125, allow employers to help employees pay for expenses such as health insurance with pre-tax dollars. Employees are given a choice between a taxable benefit (cash) and two or more specified pre-tax qualified benefits, for example, health insurance. Employees are given the opportunity to select the … Continued

President Trump Makes First Moves Towards ACA Repeal – What Employers and Plan Sponsors Should Know Now | Ohio Benefit Advisors

One of President Donald Trump’s first actions in office was to make good on a campaign promise to move quickly to repeal the Affordable Care Act (ACA). He issued Executive Order 13765, Minimizing the Economic Burden of the Patient Protection and Affordable Care Act Pending Repeal. The one-page executive order (EO) is effective immediately and … Continued

2017 Annual Limits Card Back by Popular Demand | Ohio Benefit Advisors

Many employee benefit limits are automatically adjusted each year for inflation (this is often referred to as an “indexed” limit). UBA offers a quick reference chart showing the 2017 cost of living adjustments for health and Section 125 plans, qualified plans, Social Security/Medicare withholding, compensation amounts and more. This at-a-glance resource is a valuable desk … Continued

Do You Know Who Your Primary Care Physician Is? Well, You Should. |Ohio Benefit Advisors

The Affordable Care Act (ACA) has brought about many changes to the health insurance industry. As we are now in the sixth year of implementation of the Act, we are seeing more changes coming just around the corner. Generally speaking, most health plans can be classified into two categories: HMO and PPO. With an HMO … Continued

Prescription Drug Copay Trends | Ohio Employee Benefits

UBA’s Special Report – Trends in Prescription Drug Benefits explores our Health Plan Survey findings in more detail, particularly examining what’s happening with prescription drug plan design among different group sizes, regions and industries. When it comes to copay amounts, median retail prescription drug copays are $10/$30 for two-tier plans, $10/$35/$55 for three-tier plans, and … Continued

Which Employers Are Aggressively Increasing Rx Tiers for Cost Savings | Ohio Employee Benefits

The Latest UBA Survey data shows employers are flocking to two strategies to control rising prescription drug costs: moving to blended copay/coinsurance models vs. copay only, and adding tiers to the prescription drug plans. Almost half (48.9%) of prescription drug plans utilize three tiers (generic, formulary brand, and non-formulary brand), 4.3% retain a two-tier plan, … Continued

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