Effective January 1, 2019, or upon renewal, all benefit limits for Autism Spectrum Disorder will be removed from Individual, Small Group and Large Group benefit plans. This is a result of House Bill 218 which was recently passed in the Kentucky legislative session.
Allwell will showcase 2019 products including Medicare Advantage and D-SNP plans. In addition, Allwell will cover marketing tools, discuss information on the Value Based Enrollment (VBE), and provide details on online enrollment and new application tools.
Allwell will be giving away 1,000-piece mailers to agents who attend this meeting and become certified with Allwell!
Date: Tuesday, September 11
Time: 10:00 am–11:30 am
*Lunch will be served afterward
Location: 5555 Airport Highway Suite 100
Toledo, Ohio 43615
Not contracted with Allwell? Contact your Cornerstone Senior Marketing sales representative today!
SilverScript has released their PDP plans for 2019. Don’t miss your chance for a first look at their plan benefits!
Not contracted with SilverScript? Reach out to your Cornerstone Senior Marketing sales representative to get appointed today.
Allwell will showcase 2019 products including Medicare Advantage and DSNP plans. In addition, Allwell will cover marketing tools, discuss information on the Value Based Enrollment (VBE), and provide details on online enrollment and new application tools.
*Receive 1 free CE voucher for attending the session
DATE: Wednesday, September 12th
TIME: 10:00 am–12:00 pm
LOCATION: Cornerstone Cleveland Office
4500 Rockside Rd., Suite 330
Independence, OH 44131
Not contracted with Allwell? Contact your Cornerstone Senior Marketing sales representative today to get started!
Bright Health Medicare Advantage benefits will be available for 2019!
Join Bright Health Market Manager, Susan Schoen, to learn more about Bright Health and their exciting new MAPD plans for 2019. Courtyard by Marriott is conveniently located near I 275/ I 75 / I 71 with free parking. A continental breakfast will be available.
DATE AND TIME: Thursday, August 30, 2018 | 9:00 am–11:00 am EDT
LOCATION: Courtyard by Marriott | 4625 Lake Forest Dr. | Blue Ash, Ohio 45242
If you were born in 1953, next year is your full retirement year. It’s time to do some math so you don’t lose retirement benefits you could have started taking in January 2019. The earnings limit (wages and self-employment only) for 2019 will be about $45,600 (estimated).
Here is how this strategy works: If you are earning about $80,000 a year from a job or self-employment, you could possibly start taking a retirement benefit in January 2019. Social Security only counts your earnings for months prior to your full retirement month, so if you were born in July 1953, they only count your earnings through June 2019. At $80,000 per year, you’re only earning $40,000 through June and could take a slightly reduced benefit starting January 2019 because your earnings are under the limit through June 2019. Social Security doesn’t care what you earn after June 2019 because you are under the $45,600 limit. BINGO! Thousands of dollars in your pocket before June and you keep working earning your $80,000 for the year. Plus, if your spouse is eligible for spousal benefits they can also file on your record January 2019.
This may not be the best choice for some who wants to wait until 70 to maximize their retirement benefit. However, if you were going to file in June 2019 for your benefit, this is something you may want to consider.
You can file for a January 2019 benefit any time after August 31, 2018.
For more information on this strategy check out my website and contact me for a Retirement Benefit analysis.
About Dennis Heywood
Denny’s career with Social Security provides an in-depth, working knowledge of the Social Security Administration’s internal organization and processes. An expert in all phases of SSA programs: retirement, survivor, disability, and Medicare, Denny has expertise with the complex Social Security regulations based on more than 40 years of experience.
We will provide you with a first look at the key selling points for MMO’s 2019 Medicare Advantage plans. Learn about their commitment to meeting the needs of Ohioans in 80 of the 88 counties with:
New Premium Option | $0 Region 2 Premium
Diabetic Supplies | $0 Copay for 7 Essential Diabetic Supplies
Rx Deductibles | Lowered to $160 or $55
Generic Rx Copays | Tier 1: $0 Copay
Additional Benefits | Hearing Aid Benefits Included
Tuesday September 11 | Cincinnati
9:00 am–11:00 am
2101 Florence Ave.
Cincinnati, OH 45206
Tuesday September 11 | Dayton
1:00 pm–3:00 pm
The Golf Club at Yankee Trace
10000 Yankee St.
Centerville, OH 45458
Wednesday September 12 | Lima
9:00 am–11:00 am
Howard Johnson Hotel
1920 Roschman Ave.
Lima, OH 45804
Tuesday September 18th | Columbus
9:00 am–11:00 am
Wedgewood Country Club
9600 Wedgewood Blvd.
Powell, OH 43065
Wednesday September 19th | Cleveland
10:00 am–12:00 pm
Cleveland Cornerstone Office
4500 Rockside Rd., Suite 330
Independence, OH 44131
*Receive a FREE CE voucher for attending the Cleveland location!
Attention Kentucky Brokers! Have you quoted Aetna’s new level-funded program? Aetna has recently made a significant rate adjustment in Kentucky. Ask for quotes on this product today!
Important Updates to 2018 AFA (5–99):
- 5–99 in Ohio
- 5–50 in KY
- 15 percent rate decrease for KY effective 7-1-18
- Very competitive pricing
- 15-month rate guarantee for 12-1-18 and 1-1-19 effective dates (only increases rate 1 percent to go to 15 months versus 12)
- $50 bonus per Employee per Year through 1-1-19 effective dates. Example: 10 employees = $500 bonus. 30 employees = $1500
- $25 Per Employee per year administrative credit if submitting early
- $25 plus tax for Apple Watch for employee ($50 plus tax for spouse)
- Pure Fit wellness credits
Contact your Cornerstone representative for additional details or to get contracted with Aetna today.
It’s about that time again. Another fourth quarter is right around the corner and your clients may be quite tired of the same old story: Another increase, another change in benefits, another quoting season, and the expectation of bad news. What if you could provide hope, grow your book of business, and add unique value to help your small business clients save money all at the same time? The implementation of the Affordable Care Act (ACA) has been both challenging and confusing for many employers. ACA community rating has benefited a few traditionally “less healthy” groups, however the rating methodology, compliance hurdles, and cost (at least in Ohio) have kept most groups in steadily shrinking transitional plans.
As in any challenging situation, creative minds rise to the occasion. In this case, newer-to-market level-funded health plans are an intriguing alternative to ACA plans for small businesses.
Level-funded products are designed to give clients the benefits and advantages of self-funding, while limiting the disadvantages by offering a “pre-packaged” hybrid of self-insurance for small employers (down to five enrolled locally). Historically, small businesses did not have the opportunity to self-insure their health coverage. Healthy groups continued to absorb increases of the pools of business, which became sicker over time. Today, many commercial carriers are offering level-funded plans that curtail claim volatility through fixed monthly premiums with the added bonus of a potential refund if claim costs are less than expected. These plans allow the small business to see the financial benefits that self-funded plans traditionally offered only to large groups.
So, why consider level-funded plans?
- Premium payments are predictable and fixed monthly, avoiding volatility in monthly cash flows and risk of claims exceeding the monthly payments. Employers pay fixed premiums to cover claims funding, stop-loss premium, and administrative fees. Employers are not responsible for claims exceeding those fixed payments for those received during the 48 months following the end of the first year.
- When is the last time you were able to tell your small group client they may be eligible for a refund? That’s right, a refund. Most level-funded plans refund a portion of the unused claims surplus at the end of the year, dependent upon the plan’s experience. After a three- to six-month run out period, the client’s performance is evaluated and a portion of allotted claims dollars may be returned if they have run below maximum claim expectations (most carriers require that you renew with them to receive this reimbursement). The refund can be used to offset future increases.
- Level-funded plans are exempt from state taxes on premiums (usually 2–3 percent of the total premium). In this case, only stop loss premiums are taxed. They are also exempt from the ACA’s Health Insurance Tax. The ACA does require all self-funded plans to pay an annual PCORI fee ($2.39 for 2019) and they are required to comply with ACA reporting requirements like an Applicable Large Employer.
- Level-funded plans use medical underwriting and gender/age ratings, allowing healthier workforces to pay lower premiums. Community rating—required by ACA-regulated health plans—is avoided. Younger, healthier groups may benefit.
- These types of plans are not subject to state-mandated benefits that allow small employers to tailor their coverage to their employees’ needs.
- Greater transparency is evident in reporting provided by each carrier with respect to costs breakdown.
- You will stand out as a valued consultant to your client! Many brokers have not yet taken to these new plans and continue to run their business as status quo. Bringing new ideas to save costs will enable you to grow your book of business as you so choose.
Level-funded plans are a great option for many employers, but they are complex. Brokers who serve small-group clients need to be trained on their structure, underwriting methodology, costs, and implementation to be well versed in their approach.
Cornerstone offers the training, guidance, and tools to make you an expert. Let us add value to your agency today. Call one of our A+ professionals to get started.
Aetna Funding Advantage is available on a 15-month contract for December 1 and January 1 new customers. Wouldn’t it be nice to have some business renewal outside OEP? Learn more.