What They Aren’t Telling You About the Health Benefits Exchange and more....
The October 1st deadline is fast approaching. Open enrollment for the healthcare exchanges and compliance requirements for all businesses will begin. Gov. Cuomo is claiming that insurance products offered through New York Health Benefits Exchange will be 53% less on average than current individual rates. But how can insurance premiums be cut in half (on average) when medical costs continue to rise? True, the individual mandate enables insurers to trim premiums, because the risk can be spread over more policyholders – including healthy individuals, who typically didn’t buy insurance before. But there has to be more to the story. There is.
All will be revealed at an upcoming Lunch & Learn: What You Don’t Know About Healthcare Reform May Make You Sick, organized by the Westchester County Association, on Thursday, September 19, from 11:30 to 2 pm at Tappan Hill Mansion in Tarrytown, when a panel of three experts fills us in on the road ahead. This critically important program is open to the public. Registration is required. The Westchester County Association is the preeminent business membership organization in Westchester.
James D. Schutzer, CPA, Vice President, J. D. Moschiotto & Associates, says that “The state is saying the plans will have ‘robust’ provider networks, but that just means there are an adequate number of providers to serve each Zip Code. You may learn that your doctors aren’t covered.” Schutzer will also discuss the Small Business Health Options (SHOP) program at the Lunch & Learn.
Chris Jardin, Director of Small Group Marketing, The Maxon Companies, points out that in Westchester, an individual purchasing insurance today can expect to pay at least $1,400 a month for HMO coverage, or $2,200 for POS coverage. Yet, if you’re located in the mid-Hudson region, exchange rates for the highest tier of coverage – platinum – will cost about $710. “There’s such a rate discrepancy that they must be giving up benefits,” warns Jardin, who will also discuss employer responsibilities and compliance requirements under the new law at the Lunch & Learn.
Jill Bergman, CEBS, Vice President of Compliance in the Group Health & Welfare Services practice, CohnReznick, urges businesses to look beyond the state’s advertising campaign: “Understand the campaign and what it means to your employees,” she advises. Bergman will also discuss managing employee expectations and the importance of developing a comprehensive healthcare strategy.
And that’s just the tip of the iceberg. Lunch & Learn: What You Don’t Know About Healthcare Reform May Make You Sick is a primer on what every business needs to know NOW!
This crucially important program is open to all WCA members and the public. Reservations are a must. Tickets are $65 per WCA member and $75 per non-member. For more information, please visit www.westchester.org. Sponsored by CohnReznick, Mahopac National Bank, The Maxon Companies and Simone Healthcare Real Estate.
About the speakers:
James D. Schutzer is a leader in the employee benefits industry with a career in healthcare spanning 20 years. He has presented and lectured to many organizations on the topic of the Affordable Care Act and sits on the New York State Health Benefit Exchange Regional Advisory Committee. He is the President-elect of the New York State Association of Healthcare Underwriters (NYSAHU) and holds licenses for Life, Accident & Health and Property & Casualty.
Chris Jardin began his career with The Maxon Companies in 1994as a disability claims adjuster, then moved into the position of Disability Claims Manager. Shortly thereafter, he became Student Accident Marketing Representative in the Sales Department, and is now director of Small Group Marketing where he spends his time educating, assisting and suggesting solutions to his clients .
Jill Bergman monitors federal and state-level employee benefit plan legislation and regulations and serves as the Editor of healthcarereformtoday.com; author of healthcarereformtodayblog.com; and producer and host of “Compliance Corner” podcasts. She speaks frequently about the ACA as well as federal and state level legislation and regulations that impact employee benefit plans including COBRA, CHIPRA, HIPA, GINA and DOMA.