Benefits News
 EMPLOYEE BENEFIT NEWS ARTICLE
Featuring Jay Jensen of IBG
By Andrea Davis
June 12, 2013
ASSOCIATION COVERAGE AFFECTED BY ACA
The American Veterinary Medical Association announced earlier this year it would be ending its medical coverage for its 17,500 association members and their dependents on Dec. 31, 2013, bringing to light the issue of association coverage and how association plans could be affected by the Affordable Care Act.
"The guaranteed issue coverage mandate – in other words, you have to take somebody regardless of previous conditions – makes those kinds of plans too risky for an insurer," says Jay Jensen of Insight Benefits Group. His firm has been working with the AVMA to find alternative health care coverage for its members. "It changes the dynamics of the plan for the insurance company."
The plan's underwriter, New York Life Insurance, notified AVMA it would no longer underwrite major medical coverage for professional associates after 2013 because of impending federal health care regulations.
"Under Obamacare, they'd have to abide by each individual state mandates and requirements. Administratively it's just impossible," says Jensen.
Jensen believes some associations may try to set up their own private exchanges. Another alternative is self-insurance. "We're looking at doing some partially self-insured models and some self-insured models if some of the clinics are big enough," he says. "We've got some different strategies to try and provide the coverage and keep the cost down. The self-insured route seems to be the best route and I think you're going to see that pretty much universally across the board. Fully insured pricing is just going to be too expensive."
Jensen acknowledges that association coverage has always been challenging, saying insurers tend to shy away from general business association health plans because of the adverse risk. "But for the other association plans that do exist, I would imagine they're going to have the same problems. I don't know how they're going to get around it," he says.
The AVMA Group Health & Life Insurance Trust has offered medical insurance to AVMA members at group rates for 56 years. Term life, disability income and other nonmedical insurance policies are not affected.
Click here for link to article.
February 27, 2013
The Obamacare Calculator
Jay Jensen of Insight Benefits Group was featured in a podcast for Employee Benefit Advisor explaining how his new tool can help companies become more aware of the financial implications of PPACA. Click here to listen to the podcast.
You may contact Jay Jensen via email at [email protected] or directly at (309) 826-8378.
 January 31, 2013
A Look Ahead Into How Healthcare Reform Will Impact the Insurance Industry
Jay A. Jensen of Insight Benefits Group joined a panel of featured speakers on a National Underwriter Life & Health Webcast which was held January 31, 2013. This was a live, interactive webcast, sponsored by Aflac, featuring industry experts regarding the most important changes coming down the pike related to healthcare reform.
Regulatory and market forces are coming together to make 2013 the Perfect Storm for the insurance sellers and carriers. On the horizon are numerous implementations related to healthcare reform that is going to change the face of the insurance industry.
This webcast tackles the tremendous changes taking place in healthcare that are going to dramatically impact the way insurance is bought and sold. Further, recent changes in the disability markets are adding to the noise causing even more confusion. How can an agent preserve or even grow his or her practice during all this turmoil? Is now the time to diversify and sell other lines or can a smart agent connected with a great carrier still flourish? The answers are here.
Click here to watch a recording of this webcast (registration is free and may be required before viewing the webcast).
October 10, 2011
U.S. Preventive Medicine Mobile App is Named CTIA 2011 Hot for the Holidays Awards Finalist
November 1, 2011
The Future of Wireless Health brought to you by U.S. Preventative and Qualcomm
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Recent News
June 12, 2013
Association Coverage Affected by ACA
The American Veterinary Medical Association announced earlier this year it would be ending its medical coverage for its 17,500 association members and their dependents on Dec. 31, 2013, bringing to light the issue of association coverage and how association plans could be affected by the Affordable Care Act. Read More
February 27, 2013
The Obamacare Calculator
Jay Jensen of Insight Benefits Group was featured in a podcast for Employee Benefit Advisor explaining how his new tool can help companies become more aware of the financial implications of PPACA. Read More
January 31, 2013
A Look Ahead Into How Healthcare Reform Will Impact the Insurance Industry
Jay A. Jensen of Insight Benefits Group joined a panel of featured speakers on a National Underwriter Life & Health Webcast which was held January 31, 2013. Read More
September 17, 2012
Insight Benefits Group Represented at Las Vegas Healthcare Consumerism Conference. Read More
November 8, 2011
Thatcher's Town Council unanimously votes to adopt the VAULT Plan for all Town Employees.
October 24th, 2011
STL, headquartered in Bloomington, IL elected to implement the VAULT Plan to enhance employee benefits while lowering overall costs.
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