Health Plan Sponsorship Optimized for ACA
Deerfield, IL, [3/24/2014] since the passing of the Affordable Care Act, a company’s sponsorship of health plans has become an increasingly daunting task. Not only do they need to offer competitive health plans, but often the employer has to be mindful of their plans affordability, new taxes and penalties and the possibility that some employees are better off going to the Exchange. After over a year of research and field testing EmployeeTech will be finally releasing HealthCostManager, a Web-based solution that helps brokers and their clients determine an optimal sponsorship in a post-ACA environment.
HealthCostManager incorporates over 20 variables in its analysis of a health plan offering. These include how employee’s residential address will determine Medicaid eligibility and exchange plan rates, household income’s impact on subsidy eligibility for employees and how employer affordability will be affected by wellness incentives. It will also look at how shared responsibility penalties trade off with reduction of premium if an employee goes to the Exchange. All of these factors work together and require the right employer sponsorship strategy that lowers costs to the employer while providing the best options for employer and employee alike.
Understanding that ease of use is critical; HCM reports generate in a matter of minutes and can be saved for future client analysis. Each report delivers over a dozen unique exhibits including five different pay vs. play calculations, health plan taxes (current and future) , employee-level affordability, Exchange plan options and subsidy eligibility. HCM also provides an aggregate market analysis of Exchange plans in each employee’s location. EmployeeTech plans to release HCM in April of 2014 with regular updates and enhancements throughout the year.