United Benefit Advisors Offers Employee Guide to Understanding PPACA


Indianapolis, IN (PRWEB) June 06, 2013

The Patient Protection and Affordable Care Act (PPACA) is complicated, and understanding an employees responsibility to purchase coverage under the new law (the individual mandate), is no exception. Today, United Benefit Advisors (UBA) releases a guide to help employers educate their employees on the law and navigate the options available to them, particularly in regard to health insurance exchanges. Since employee options are based on employer plan design, UBAs guide includes a general overview and two different supplements based on whether or not the employer will offer minimum essential coverage.

The Employee Guide overview defines health care reform, the intent of PPACA, employee requirements, penalties and obligations, and takes a closer look at the advantages and disadvantages of choosing a health insurance exchange over an employer sponsored plan.

Employee eligibility for tax credits through the exchanges is dependent on the employer’s decisions about plan design. UBA offers two supplements (A and B) to address whether the coverage provided by the employer will satisfy the “minimum essential” requirement and to begin to educate on how the plan and the exchange will interact.

Supplement A is for those whose employer expects to offer affordable, minimum value coverage, but may choose to enroll in the exchange instead and thus forgo their eligibility for tax credits/premium subsidies.

Supplement B is for those whose employer expects to offer coverage that does not meet affordability or minimum value, so eligibility for tax credits/premium subsidies (and reduced cost sharing) thus becomes an area of interest.

We recognize there are many situations that this guide and supplements do not cover, says Thom Mangan, CEO of UBA. However, most employers should be able to mix and match the information to address most situations. Of course, working with a knowledgeable UBA Partner is always recommended for the best and most accurate information in every unique situation.

The PPACA Employee Guide is available at http://tinyurl.com/lj7wusn.

UBAs PPACA Resource Center includes up-to-date information on a number of elements, including: Counting Employees, Exchange eligibility/IRS Non-calendar-year plans, Wellness Proposed Rules, FSA and SBC Highlights, W-2 Reporting Requirements, Medicare Withholding Summary, Essential Benefits/Actuarial Value and more.

The resource center can be found on UBAs website. In addition to the PPACA Resource Center, UBA provides customized benchmarking data to help businesses compare their employee health benefits to competitors, and potentially find savings through plan design. UBAs 2012 Health Plan Survey, the largest in the nation with nearly 12,000 employers participating, along with the collective wisdom of its 140 industry-leading partner firms, helps business owners and human resource executives make informed decisions that directly impact the bottom line by controlling the upward spiral of health care costs.

About United Benefit Advisors

United Benefit Advisors is the nations leading independent employee benefits organization with more than 200 offices throughout the U.S., Canada and the U.K. Visit http://www.UBAbenefits.com.

MEDIA CONTACT:

Carina Sammartino

(650) 477-4839

csammartino (at) fishervista (dot) com







More Health Insurance Press Releases

Kemper Corporation Initiates Re-branding with Total Compensation Statements from Benefit Software Inc.

Santa Barbara, CA (PRWEB) February 15, 2012

Benefit Software Inc. (http://www.bsiweb.com), a leading Software as a Service (SaaS) provider of online employee benefits administration, employee self-service, and benefits communication solutions, today announces that Kemper Corporation successfully launched its rebranding strategy using custom designed Total Compensation Statements to highlight its new name to 2,700 employees. There’s long been an awareness of the relationship between Total Rewards Statements and employee satisfaction, productivity, and retention. Kemper Corporation used the statements as a key component of its internal branding initiative, which a growing number of organizations are undertaking to better align and focus their workforce with new and emerging business challenges.

We entrusted Benefit Software with the production of a comprehensive statement that would unify our divisions under one namea key objective, says Adam Alsleben, CEBS, Manager, Defined Contribution Plans, Kemper Corporation. In addition, the statements really allowed our employees to see the full value of their individual compensation and benefits; it was our goal for them to see beyond their salary. We have more than met this goal and the statements will serve as an ongoing tool to reinforce employee retention. For instance, we included 401(k) projections in the statements so they can see the potential long-term benefit of their contribution as a Kemper employee.

Total Rewards Statements have renewed significance as more companies are investing time and resources into internal rebranding efforts to increase employee job satisfaction and retain top talent, said William Smith, Vice President, Sales, Benefit Software Inc. As shown by Kemper, our Rewards Statements can be easily integrated into an organization’s communications, giving employees a clear, personalized view of their value and the resources that management puts at their disposal. Kemper also demonstrates how Total Rewards Statements are essential to organizations looking to prepare their workforce for new challenges ahead.

Benefit Software Inc. supports over 500 organizations annually in the production and distribution of Total Compensation Statements that educate employees on the total value of their employer-provided compensation and benefits.

About Kemper Corporation

The Kemper family of companies serves over 6 million policyholders across the United States. Kemper is a diversified insurance holding company with subsidiaries that provide life, health, auto, homeowners, rental and other insurance products to individuals and small businesses. Kemper serves its customers through a network of independent agents, brokers and career agents as well as directly to consumers via direct mail, web, employer-sponsored benefit programs and other affinity relationships. With over $ 8 billion in assets, Kemper employs about 7,000 associates.

About Benefit Software Inc.

Benefit Software Inc. (BSI) is a leading Software as a Service (SaaS) provider of highly effective employee benefits enrollment and communication solutions. In addition to developing and hosting Fringe Facts