Benefit Design Services Corporation

BDS Offers Individual Medicare Plans

penny — Tue, 08 May 2012 15:02:10 +0000

Did you know that BDS is licensed to sell Medicare plans for individuals? See highlights below:

Medicare Advantage plans

Medicare Advantage plans (also known as Medicare Part C) are offered by private insurance companies that contract with CMS (Center for Medicare and Medicaid Services). They cover all services that are included in original Medicare Part A (hospitalization) and Part B (medical services) and sometimes include Part D (prescription drug) coverage.

Medicare Supplement plans

Medicare Supplement plans are NOT part of Medicare. They are plans offered by private insurance companies that can cover out-of-pocket costs such as copays, deductibles, and co-insurance associated with Medicare Part A and Part B.

Prescription Drug plans

Since original Medicare (Part A and Part B) does not cover most drugs, these plans offered through private insurance companies provide prescription drug coverage.

Days 2 & 3 of SCOTUS Arguments

penny — Thu, 29 Mar 2012 14:57:30 +0000

On Tuesday, March 27, 2012, arguments in front of the Supreme Court centered around the constitutionality of the individual mandate in the health care reform law that requires most Americans to purchase health insurance. The questions asked by the more conservative justices seemed to lean towards declaring it unconstitutional. Read More

Wednesday’s arguments centered around 2 issues:

1) Severability – if the individual mandate is declared unconstitutional, can the rest of the law stand? Read more

2) Is the Medicaid expansion portion of the law constitutional? Read more

1st Day of SCOTUS Hearings on PPACA

penny — Tue, 27 Mar 2012 14:34:13 +0000

The first of three days of hearings on the constitutionality of the health care reform law focused on whether the Supreme Court can even rule before the bulk of the law has taken effect. The AIA, or Anti-Injuction Act, does not allow legal action regarding a tax until after the tax has been assessed. Since many of the PPACA’s provisions don’t take effect until 2015, the tax has not yet been levied. Also in question is whether the penalty assessed by PPACA for not purchasing coverage is a tax or a penalty.

Health Benefit Exchanges Have Many Functions

penny — Thu, 08 Mar 2012 18:49:40 +0000

When the health benefit exchanges required by PPACA take effect in 2014, they will be much more than a marketplace for comparison shopping for health insurance.

They will be responsible for certifying qualified health plans, providing toll-free access to consumers with questions on eligibility and enrollment, and identifying “navigators” who can assist them further.

2012 Retirement Plan Trends

penny — Tue, 10 Jan 2012 15:12:12 +0000

Although there are few changes in retirement plan regulations for 2012, a few trends are emerging that may result in legal changes in the next few years. The trends are related to disclosure of fund past performance, participant fees, and lifetime income scenarios in the hope that participants will make informed choices in investments.

Read full article

Health Care Reform Issues to Watch in 2012

penny — Thu, 05 Jan 2012 19:18:01 +0000

ACO’s (Accountable Care Organizations): Paying for health care based on outcomes rather than fee-for-service is one way that health care reform is attempting to cut health care costs.

Supreme Court Oral Arguments: Debate on the constitutionality of the individual mandate to buy health insurance begin in March, and a decision is expected by summer.

Medicare Payment Reform: Like ACO’s, this is an attempt to cut costs by tying patient outcomes to provider payments.

2012 Election: If Republicans win the presidency and a majority in Congress, it could affect attempts to repeal health care reform.

Health Insurance Exchanges: States have until the end of 2012 to certify that they are ready for the 2014 implementation of exchanges.

Read full article

Health Plan Spending Ratio Rules Set

penny — Tue, 13 Dec 2011 13:53:49 +0000

The final rules have been published determining the percentage of your insurance premium that insurance companies must spend on health costs. This percentage, called a Medical Loss Ratio (MLR), is 80% for medical plans sold to employers with fewer than 50 employees and 85% for companies with 50 or more employees.

If insurance companies do not meet this minimum, they must rebate a portion of insurance premiums to employers and employees.

Read full article

Supreme Court Agrees to Hear Arguments On Health Care Reform Law

penny — Wed, 16 Nov 2011 14:38:10 +0000

The Supreme Court has set aside five and a half hours for oral arguments challenging the constitutionality of PPACA (Patient Protection and Affordable Care Act). Arguments are scheduled for March and will focus on the constitutionality of the individual mandate that most Americans purchase health insurance beginning in 2014. The justices must also decide whether the rest of the law can stand or whether the entire law must be struck down. Their decision will likely be made in June.

CLASS Act Implementation in Doubt

penny — Mon, 26 Sep 2011 17:36:09 +0000

The CLASS (Community Living Assistance Services and Supports) Act, a part of the last years health care reform bill, may not be implemented after questions were raised about its sustainability. Designed to keep people with impairments out of nursing homes, the program would pay for services received at home. One estimate says that the program would cost the Federal government more than the premiums collected would cover by 2025.

The number of HHS staff working on the CLASS Act has been reduced, but there has been no official word on its future. At the Senate Finance Committee hearing in February, Kathleen Sebelius said “The program will not start unless we can be certain it will be solvent and self-sustaining into the future.”

Additional Women’s Preventive Services in 2012

penny — Fri, 12 Aug 2011 17:47:52 +0000

The Department of Health and Human Services announced additional mandated preventive services for women for health plans with plan years beginning on or after 8-1-2012.