Month: May 2020

MEC Made Simple

The Basics What is Minimum Essential Coverage (MEC)? Minimum Essential Coverage is the minimum coverage a large employer must offer to at least 95% of its full‐time employees to SATISFY the “A” Tax Penalty imposed by ACA (IRC Section 4980H(a) and the minimum coverage most US Citizens must have to satisfy their individual mandate. It is not major medical …

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Look Out for the MEC Bomb

Read this if you recommended or sponsored a MEC (Minimum Essential Coverage) ACA Compliant Platform (particularly if your recommended MEC plan does not have aggregate reinsurance) This is for all of those brokers who make a living in the service sector (hourly employee) markets and have cleverly recommended MEC plans as a solution to the Affordable Care Act, …

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Top 5 Misconceptions About Working with a General Agent

Previously we have discussed the role that General Agents play in the insurance industry and how they provide value to brokers. Now, we’d like to clear up some of the biggest misconceptions about working with a General Agent (GA). 1.     Working with a GA costs brokers money in reduced commissions and bonus programs. This is not …

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Basic Health Insurance May Cost Nothing for Some Employers

There are very compelling reasons for an employer to offer affordable basic or *incentive-based health insurance plans to hourly workers. Chief among them is compliance with the Affordable Care Act Employer Mandate. However, many employers are misled into the belief that limiting contributions (within the constraints of ACA) or offering plans that technically comply with ACA …

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eBook – Introducing Access Based Health Plans

http://docs.wixstatic.com/ugd/9ab858_4cb6827b52ed4e80b602f79117f7426b.pdf Introducing Access Based Health Plans   Dear Brokers/Agents As you all well know, we are experiencing a dizzyingly frenetic period in our industry. Health Insurance has been top-of-mind for many politicians, civic leaders and reporters, who have never given the subject a second thought, unless of course they or a loved one needs medical …

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