Health Care Reform
Health Care Reform Tools & Resources
- How we can help
- Health Care Reform Cost Modeling
The current employee benefits and HR regulatory marketplace has become a hotbed of activity with health care reform steping out as the critical topic our J.W. Terrill Health Care Reform Advisory Practice professionals can offer our clients comprehensive solutions using expertise from our various experts including:
- • Legal & Compliance Services
- • HR Consulting Practice
- • Actuarial Services
- • Wellness and Risk Management Services
- • Communication Consulting
- • Technology Services
J.W. Terrill consultants can provide expert guidance and advice in the determination of:
- • Future cost forecasting
- • Full-time / Part-time definitions and associated employment policies and procedures
- • Determination of appropriate eligibility criteria
- • Assistance in development of appropriate measurement periods for all employees
- • Compliance Assistance
- • Marketplace (Exchange) Solutions
What will our costs be in 2015 and beyond?
Through the health care reform cost modeling tool J.W. Terrill’s consultants will forecast a picture of the financial impact to your organization, as a result of the Affordable Care Act, from today through 2020.
The “Employer Mandate” - should I pay or play?
The employer mandate essentially requires employers with 50+ employees to offer coverage to their employees or pay a penalty. Employers that do not offer coverage and have at least one full-time employee who receives a premium tax credit will be assessed a fee of $2,000-$3,000 per full-time employee. Through the cost modeling tool our consultants will illustrate the potential cost ramifications of varying strategies.
Is my plan affordable under the requirements of health care reform?
Under health care reform employers subject to the Shared Service provisions are required to provide “affordable” coverage to their employees. Affordable coverage is defined as coverage that the member premiums do not exceed 9.5% of an employee’s household income. The cost modeling tool will illustrate what if any exposure an organization may have based on forecasted costs, population demographics and the affordability safe harbors.
What are the effects of the “Cadillac” tax on my plan?
Beginning in 2018 if you offer a high-premium health insurance plan to your employees, you may be subject to a new excise tax. This new tax imposes a 40% excise tax on employment-based health plans whose premiums exceed $10,200 for singles, $27,500 for family plans. Our model will help identify if your plan might be subject to this tax in 2018 and if so what the cost might be.
Alternative cost modeling
Given the number of considerations business owners will be faced with J.W. Terrills cost modeling tool allows for alternative scenario modeling. What if I do nothing what are my costs? What if I drop coverage, what if my plan changes, enrollment changes? The list goes on.
Through our robust and flexible modeling we provide critical business intelligence for business leaders as they navigate health care reform.