Employer Group Trends for Health Insurance in 2016

DOL Proposes Changes to FLSA White Collar Exemption RuleThe high deductible health plan has many benefits, but employers are still challenged to find the right balance when shifting cost to employees. Many believe the rise of HDHPs (High Deductible Health Plan) is inevitable, but they may couple these plans with Health Reimbursement Arrangements or go to a level-funded (protected self-funded) health plan. Employers are attracted to the protected self-funded plans for lower premiums, flexibility in plan design and potential for money returned at the end of the year depending on employee claims during the year. Further, some level-funded plans allow the employer to customize the benefits, thereby putting more of the premium into benefits employees want and use and decreasing the insurance coverage on benefit areas that are of little interest to their employees. As well, the level-funded plans are not subject to all the ACA taxes which helps the insurance premium costs.

For information as to how one of these types of plans may work for you, please contact Deborah O'Connell at doconnell@benefitauthority.com