COBRA stands for the Consolidated Omnibus Budget Reconciliation Act of 1985, which is the federal law that allows many workers to be able to continue their group health insurance coverage, at least temporarily, through a continuation of coverage program. Although COBRA does not apply to all employers, there are other state and federal laws which make it possible for most employees who lose their employment due to a qualified event
Could Affordable Care Insurance Grace Period Lead to “Gaming the System?”
Several weeks ago, we wrote about possible disincentives for doctors to accept health insurance sold on the marketplace (also known as exchanges). A recent article in the Sacramento Bee highlights a loophole in the law that deserves a further look. For subsidized policies sold in the exchanges, a provision in the Affordable Care Act (ACA) (federal law) provides for a three-month grace period during which the policyholder’s health insurance can
Great Overview of Affordable Care Act
Much has been written about the Affordable Care Act in advance of the opening of the exchanges scheduled for October 1, 2013. A recent article in the Wall Street Journal provides a terrific overview of what it will be like to buy health insurance after the exchanges open for business on October 1, 2013. Here are some key points from the article, the full text of which you can read
Policies Sold in the Health Care Exchanges May Offer Fewer Providers
Mandatory health insurance coverage under the Affordable Care Act (ACA) for most Americans starting on January 1, 2014 will cause a flood into the market of previously-uninsured individuals and those needing to get new coverage. Coupled with the fact that insurance plans will be required to cover a comprehensive list of essential health benefits, insurance companies and government officials are trying to find ways to hold down medical costs. Renegotiating
Like Your Health Care Policy? You May be Losing It!
In the spirit of full disclosure, the title of this post comes directly from an article published recently by the Associated Press, the full text of which you can read here. While we don’t want to be alarmist, we like the title because it really sums up the gist of what we may be seeing in the not-too-distant future. Some individuals who buy their insurance privately, as well as some
Four Months and Counting to the Insurance Exchanges
Is anybody else as focused on October 1 as we are here at Virginia Medical Plans? Tomorrow, June 1, will start the four-month countdown to the opening of the health insurance exchanges (also known as the marketplace) created under the Affordable Care Act (ACA). Staying abreast of the latest news about ACA is almost like watching a race — a months-long race to a finish line that presents us with
Virginia Medical Plans — Keeping a Watchful Eye on Unfolding Health Reform
One of the provisions of the Affordable Care Act (ACA) is for Americans to be able to obtain health insurance regardless of pre-existing medical conditions. However, when ACA was signed into law in March of 2010, it was still nearly four years (until January of 2014) until insurance companies would be required to cover people with pre-existing conditions. As a transition for affected individuals who had been uninsured for at
Helping Businesses Navigate Health Care Reform
If you are a business owner or manager involved in your company’s group insurance process, check out a terrific new resource that we think will really help you understand and navigate the Affordable Care Act. We’ve added the document to our Resources page which you may want to bookmark so you can refer back often! As always, give us a call if you have any questions. We will be happy
What is an Employer’s Obligation to Notify Employees about Affordable Care Act?
The Affordable Care Act adds a new provision to the Fair Labor Standards Act, mandating that employers provide notification — in writing — to their employees: Informing the employee of the existence of the Marketplace (referred to in the statute as the Exchange) including a description of the services provided by the Marketplace, and the manner in which the employee may contact the Marketplace to request assistance; If the employer
Concerned about Affordable Care Act?
If you answered yes to the question above, then you’re not alone. The buzz in the news is that individuals, small business owners, lawmakers, and insurance companies themselves are all concerned — and unsure — about how the provisions of the Affordable Care Act (ACA) will possibly be implemented by the first of the year. There is talk of… initiating summer campaigns — both from the government and from insurers