Above the Fold |
March 8, 2012 |
The dangers of an underfunded HSA |
By Dave Keller |
An employee unprepared for the financial impact of a large claim on a high-deductible health plan might be faced with a financial crisis even though he or she has a quality comprehensive health insurance plan in place…Read more |
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Today's News |
Most employers support mobile work styles |
By Amanda McGrory |
By the end of 2013, 93 percent of employers plan to initiate mobile work styles, up from 37 percent of employers that offer these arrangements today, according to a survey of senior IT decision-makers by Citrix, a provider of mobile work styles and cloud services…Read more |
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Major firms ask Congress for pension funding exemption |
By Andy Stonehouse |
Low interest rates have led several major US trade groups to push Congress to reconsider the amount of money their members are required to feed into their pension funds — though similar requests have, in the past, helped lead to pension shortfalls such as those experienced by the flailing American Airlines…Read more |
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The Pulse |
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Wishing for wellness |
By Jenny Ivy |
Amid the litany of measures to scale back rising benefits costs, employers are actually becoming more aggressive with their wellness program dollars. And if you think health management initiatives are all about breaking bad health habits, think again. There may come a point when no one will be able to receive medical coverage unless they're taking part in the company wellness program…Read more |
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Overheard on BenefitsPro |
There is another way (among many, I am sure) of filling the gap. Instead of having a savings account that grows with 1 or 2% interest, imagine an account with 300% interest! The savings account would be owned by the insurer, but it would provide a basis of which to apply the multiple of 3. For example, an "account" of $10,000 could have an associated multiple of 3, or $30,000, 300% interest. Now, the insured has $40,000 of protection, and can use those dollars any way he wants, even from the first dollar. If he doesn't use the benefits, he has effectively increased his deductible to $40,000.
Doing so saves about 70% or $10,000 every year, off of a traditional premium. Impossible you may say.
Not according to Milliman, an actuarial firm, with whom we have had 2 productive meetings. We look forward to their analyses in 3-4 weeks.
-- Don Levit, The dangers of an underfunded HSA
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