How do I keep my grandfathered group plan?
Employer groups can keep their current policy on a grandfathered basis only if plan changes made are to add or delete new employees or new dependents. Another exception is made for employers that have scheduled plan changes as a result of a collective bargaining agreement.
When will the elimination of lifetime limits be in force? Does this apply to self-insured groups?
Lifetime limits on the dollar value of essential benefits is prohibited by current law beginning plan years after September 23, 2010. This applies to all fully insured, self-insured, and individual plans.
If an employer offers more than one health plan, on which plan is the voucher based?
Lifetime limits on the dollar value of essential benefits is prohibited by current law beginning plan years after September 23, 2010. This applies to all fully insured, self-insured, and individual plans.
Does the auto enroll apply to employees only?
Groups of more than 200 full-time employees are required to automatically enroll employees as they become eligible in a health care plan and provide notice of the opportunity to opt-out of such coverage if they choose to do so.
If you have any questions, please fee free to contact Mike Grinnell, Vice President of Employee Benefits, at any time. Mike's phone number is 315-453-2168. His e-mail address is mgrinnell@haylor.com.
Wednesday, October 13, 2010
Thursday, August 26, 2010
Health Care Reform Answers, Part 2
Below Mike Grinnell, HF&C's Vice President of Group Benefits, answers more questions asked during a recent seminar on the new Health Care Reform:
When does the over the counter drug change become effective?
Beginning in 2011, Over The Counter (OTC) drugs will no longer be reimbursable under HSA's, medical FSA's, HRA's, and Archer MSA's unless they are prescribed by a doctor.
Will the Reform Bill effect my FSA contributions?
Yes. Beginning in 2011, the amount of contributions to health FSA's is limited to $2500 per year.
When does the reporting of health benefits on the W-2's begin?
Employers are required to start reporting the aggregate cost of employer-sponsored health benefits payable during the taxable years beginning after December 31, 2010.
What is the CLASS Act?
Beginning January 1, 2011 the Community Living Assistant Services and Supports (CLASS) Act states that all employers would be required to enroll employees in a new national public long-term care program, unless the employee elects to opt out.
If you have any questions please feel free to contact Mike at 315-451-1500 or mgrinnell@haylor.com.
When does the over the counter drug change become effective?
Beginning in 2011, Over The Counter (OTC) drugs will no longer be reimbursable under HSA's, medical FSA's, HRA's, and Archer MSA's unless they are prescribed by a doctor.
Will the Reform Bill effect my FSA contributions?
Yes. Beginning in 2011, the amount of contributions to health FSA's is limited to $2500 per year.
When does the reporting of health benefits on the W-2's begin?
Employers are required to start reporting the aggregate cost of employer-sponsored health benefits payable during the taxable years beginning after December 31, 2010.
What is the CLASS Act?
Beginning January 1, 2011 the Community Living Assistant Services and Supports (CLASS) Act states that all employers would be required to enroll employees in a new national public long-term care program, unless the employee elects to opt out.
If you have any questions please feel free to contact Mike at 315-451-1500 or mgrinnell@haylor.com.
Monday, August 23, 2010
Your Health Care Reform Questions Answered
Below Mike Grinnell, HF&C's Vice President of Group Benefits, answers several questions that were asked during a recent seminar on the new Health Care Reform:
What does auto enroll mean?
Employers with more than 200 full-time employees and that offer enrollment in one or more health benefit plans are required to automatically enroll new full-time employees in a health benefits plan after enabling regulations are released. Furthermore, the automatic enrollment must include adequate notice to the employee of the right to opt out of coverage.
Auto enroll: Is there an opt out period?
Yes, enrollment must include adequate notice to the employee of the right to opt out of the coverage
Are the immunizations in the prevention services 100% covered for adults as well as children?
Child and adult immunizations recommended by the Advisory Committee on Immunization Practices of the Centers for Disease Control and Prevention must be covered
Are the considerations the same for profit and not-for-profit?
Yes, both for profit and not-for-profit organizations are subject to Health Care Reform.
If you have any questions please feel free to contact Mike at any time at 315-451-1500 or mgrinnell@haylor.com
What does auto enroll mean?
Employers with more than 200 full-time employees and that offer enrollment in one or more health benefit plans are required to automatically enroll new full-time employees in a health benefits plan after enabling regulations are released. Furthermore, the automatic enrollment must include adequate notice to the employee of the right to opt out of coverage.
Auto enroll: Is there an opt out period?
Yes, enrollment must include adequate notice to the employee of the right to opt out of the coverage
Are the immunizations in the prevention services 100% covered for adults as well as children?
Child and adult immunizations recommended by the Advisory Committee on Immunization Practices of the Centers for Disease Control and Prevention must be covered
Are the considerations the same for profit and not-for-profit?
Yes, both for profit and not-for-profit organizations are subject to Health Care Reform.
If you have any questions please feel free to contact Mike at any time at 315-451-1500 or mgrinnell@haylor.com
Tuesday, July 6, 2010
Summer Safety
Make sure you are adequately insured for all of your Summer Social Events! Read an article published by the Independent Insurance Agents of America by Clicking Here!
Wednesday, May 5, 2010
Health Reform Seminar
On May 4th 2010, Haylor Freyer & Coon, Bond Schoeneck & King along with MACNY sponsored a Health Reform Seminar that was attended by 220 local Business Representatives. Mike Grinnell, HF&C VP of Group Benefits, delivered a detailed overview of what employers need to consider as the new Federal Health Reform plan is put into effect.
To view a copy of Mike's presentation click the following link: http://www.haylor.com/blog/healthreform.pdf
Friday, April 23, 2010
Health Care Reform Conference on 5/4/10
Date: May 04, 2010
Time: 8:30 a.m. to 10:45 a.m.
Location: Holiday Inn Syracuse/Liverpool, 441 Electronics Parkway, Liverpool, NY
Registration Fee: BS&K/HF&C Clients and MACNY Members: $25 per person; General Public: $35 per person Description
For more information go to:
http://www.bsk.com/archives/detail.cfm?archive=presentation&ID=712
Time: 8:30 a.m. to 10:45 a.m.
Location: Holiday Inn Syracuse/Liverpool, 441 Electronics Parkway, Liverpool, NY
Registration Fee: BS&K/HF&C Clients and MACNY Members: $25 per person; General Public: $35 per person Description
For more information go to:
http://www.bsk.com/archives/detail.cfm?archive=presentation&ID=712
Monday, March 22, 2010
The "River Rat Triathlon" in Clayton, NY!
On August 29th, 2010 the Thousand Islands Young Leaders (TIYLO) is hosting a Triathlon to begin in Centennial Park in the Village of Clayton, NY. Haylor, Freyer & Coon is a Bronze Sponsor of the event.
The TIYLO has two main purposes: to work together for the betterment of the communities in the 1000 Islands region and for the personal development of the young leaders and community members who reside there.
Good Luck to all of the Tri-Atheletes!!!
The TIYLO has two main purposes: to work together for the betterment of the communities in the 1000 Islands region and for the personal development of the young leaders and community members who reside there.
Good Luck to all of the Tri-Atheletes!!!
Thursday, March 18, 2010
Claim Update - Falling Trees!
If a tree from your neighbor's yard falls onto your home, you may actually be able to recover the cost of your damages from their insurance policy, if the neighbor has been negligent in their maintenance of the Tree. BUT, in order to prevent a delay in getting the repairs complete, it is always best to turn the claim into your Homeowner's Insurance Company. Once they pay you to get your home fixed, they will pursue your neighbor's insurance if negligence was the cause.
Wednesday, March 3, 2010
Carthage Winterfest 2010!
Recently Haylor, Freyer & Coon, Inc. was a Silver Sponsor of the 2010 Winterfest in Carthage, NY. The Carthage Area Chamber of Commerce puts on the Winterfest and recently sent out a big THANK YOU to all of the Sponsors saying "Their generous contribution to the even allowed us to provide a great day of snowy, family fun for the who community. This great Carthage Area tradition continues!
Thursday, February 25, 2010
ISO Quality System - MACNY Council
MACNY Quality Professionals Council
Topic - Software: Quality Applications
Date: March 12, 2010
Location: MACNY HeadquartersCouncil Meetings
Join the Quality Professionals Council for…… Software: Quality Applications
Please hold the date - Friday, March 12, 2010 - for the next Quality Professionals Council meeting. It will be held at MACNY Headquarters. This meeting will focus on two main software applications for Quality Management Systems: will discuss the Quality Software packages that companies are using to support their Quality Management System.
Attendees should come to the meeting with a list of packages that they use and to discuss their experience with the software. Bill Butler of Haylor, Freyer & Coon will lead the discussion.
Will also discuss Software Quality in regards to planning, developing, qualifying and deploying software.
The speakers will be from Syracuse Research Corporation and Sensis. Miguel Maldonado: Quality Assurance Manager at Syracuse Research Corporation and Paul Hoffman: Sr. Software Quality Engineer at Sensis.
Topic - Software: Quality Applications
Date: March 12, 2010
Location: MACNY HeadquartersCouncil Meetings
Join the Quality Professionals Council for…… Software: Quality Applications
Please hold the date - Friday, March 12, 2010 - for the next Quality Professionals Council meeting. It will be held at MACNY Headquarters. This meeting will focus on two main software applications for Quality Management Systems: will discuss the Quality Software packages that companies are using to support their Quality Management System.
Attendees should come to the meeting with a list of packages that they use and to discuss their experience with the software. Bill Butler of Haylor, Freyer & Coon will lead the discussion.
Will also discuss Software Quality in regards to planning, developing, qualifying and deploying software.
The speakers will be from Syracuse Research Corporation and Sensis. Miguel Maldonado: Quality Assurance Manager at Syracuse Research Corporation and Paul Hoffman: Sr. Software Quality Engineer at Sensis.
Wednesday, January 13, 2010
Greater Syracuse Chamber of Commerce - Member Milestones
As of January 2010, Haylor, Freyer & Coon, Inc. has been a member of the local Chamber of Commerce for 45 years!!! This is only one of the many ways we support the Syracuse Business Community!!!
Tuesday, January 5, 2010
Pharmacy Benefit Management
Most employers like their PBM, according to the 2008 PBM Customer Satisfaction Report by the Pharmacy Benefit Management Institute.
For the survey, 275 employers representing 11.3 million members ranked their PBM on three factors: overall service and performance, delivering savings as promised and delivering services as promised. Their ratings averaged a very respectable 8.0 out of 10.0, with 10 being the highest.
What to look for in a prescription drug plan:
1. Plan design:
Is the plan structured to encourage your employees to use generic, formulary or mail- order drugs? Members respond to incentives that help them save money, particularly in these economic times. Jack Bruner, executive vice president of PBM marketing at CVS Caremark, recently told Drug Benefit News, "We saw our generic substitution rate in our book of business go from 60% to 65% in the past year alone...that's quite an impressive movement."
2. Education:
Does your PBM (or its network pharmacies) provide patient education on drug dosage, use, possible side effects and interactions? Does it provide education to physicians?
3. Automatic enrollment:
Some PBMs are taking a page from 401(k) sponsors and automatically enrolling group members who need prescriptions for chronic conditions into mail order programs, unless they specifically opt out. Filling prescriptions by mail order usually costs significantly less than filling them at a retail store, and the laws of inertia say that most employees who are automatically enrolled will not bother to opt out.
For the survey, 275 employers representing 11.3 million members ranked their PBM on three factors: overall service and performance, delivering savings as promised and delivering services as promised. Their ratings averaged a very respectable 8.0 out of 10.0, with 10 being the highest.
What to look for in a prescription drug plan:
1. Plan design:
Is the plan structured to encourage your employees to use generic, formulary or mail- order drugs? Members respond to incentives that help them save money, particularly in these economic times. Jack Bruner, executive vice president of PBM marketing at CVS Caremark, recently told Drug Benefit News, "We saw our generic substitution rate in our book of business go from 60% to 65% in the past year alone...that's quite an impressive movement."
2. Education:
Does your PBM (or its network pharmacies) provide patient education on drug dosage, use, possible side effects and interactions? Does it provide education to physicians?
3. Automatic enrollment:
Some PBMs are taking a page from 401(k) sponsors and automatically enrolling group members who need prescriptions for chronic conditions into mail order programs, unless they specifically opt out. Filling prescriptions by mail order usually costs significantly less than filling them at a retail store, and the laws of inertia say that most employees who are automatically enrolled will not bother to opt out.
Monday, January 4, 2010
Trends in Insurance
Tony Procopio, Vice President at Haylor, Freyer & Coon, recently spoke at a seminar and discussed the "Trends in Insurance". Below is a summary of Tony's comments:
Some of the interesting findings are that most carriers have rebounded well this past year and have continued to price aggressively. Overall, they are attempting to get increases on renewal business, but aggressively pricing new business.
We have seen pricing come down significantly for those clients who have excellent experience and good credit standing. There is also a more competitive approach available to contractors for all lines of insurance including the Workers Compensation. The most significant change in rating has been with the Workers Compensation in NY. Companies now use a Loss Cost Multiplier (LCM) to apply to the rates. This factor can differ by over 50% from one company to another.
As we go into 2010, it is expected to continue, but some resources caution that the market could change toward the end of 2010. It will depend on some contributing factors such as a natural disaster.
Most believe we will continue to have a "soft market" in 2010, and if a "Hard Market" was to come, it would be gradual, and not across the country and with every industry.
In my 24 years of experience, I have never seen the marketplace so competitive/cut throat. It is also more important now to have a broker that understands the market and Terms and Conditions of the policies that are offered to contractors. There can be limitations or exclusions. It is important to not just look at price, but also at the terms and conditions of the policy/quote.
There are also very competitive Captive programs available to Contractors. Over the past 5 years, there has been a growing trend of more contractors joining or forming a Captive. If prices should go up, I would expect more contractors to take this alternative.
It is important to also discuss the level of experience and support we offer at Haylor, Freyer, & Coon, Inc. Our staff prides itself on the ability to write and service all types and sizes of contractors. We also offer in-house Claims and Loss Control Specialist. These are important in supporting and maintaining the lowest cost of insurance.
Some of the interesting findings are that most carriers have rebounded well this past year and have continued to price aggressively. Overall, they are attempting to get increases on renewal business, but aggressively pricing new business.
We have seen pricing come down significantly for those clients who have excellent experience and good credit standing. There is also a more competitive approach available to contractors for all lines of insurance including the Workers Compensation. The most significant change in rating has been with the Workers Compensation in NY. Companies now use a Loss Cost Multiplier (LCM) to apply to the rates. This factor can differ by over 50% from one company to another.
As we go into 2010, it is expected to continue, but some resources caution that the market could change toward the end of 2010. It will depend on some contributing factors such as a natural disaster.
Most believe we will continue to have a "soft market" in 2010, and if a "Hard Market" was to come, it would be gradual, and not across the country and with every industry.
In my 24 years of experience, I have never seen the marketplace so competitive/cut throat. It is also more important now to have a broker that understands the market and Terms and Conditions of the policies that are offered to contractors. There can be limitations or exclusions. It is important to not just look at price, but also at the terms and conditions of the policy/quote.
There are also very competitive Captive programs available to Contractors. Over the past 5 years, there has been a growing trend of more contractors joining or forming a Captive. If prices should go up, I would expect more contractors to take this alternative.
It is important to also discuss the level of experience and support we offer at Haylor, Freyer, & Coon, Inc. Our staff prides itself on the ability to write and service all types and sizes of contractors. We also offer in-house Claims and Loss Control Specialist. These are important in supporting and maintaining the lowest cost of insurance.
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