Franklin

The End of Employer-Provided Health Insurance : Why It's Good for You and Your Company.

Author/Creator:
Pilzer, Paul Zane.
Publication:
Somerset : John Wiley & Sons, Incorporated, 2014.
Format/Description:
Book
1 online resource (287 pages)
Edition:
1st ed.
Status/Location:
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Subjects:
Health insurance -- Self-insurance -- United States.
Health care reform -- United States.
Form/Genre:
Electronic books.
Summary:
How to save 20 to 60 percent on health insurance! The End of Employer-Provided Health Insurance is a comprehensive guide to utilizing new individual health plans to save 20 to 60 percent on health insurance. This book is written to ensure that you, your family, and your company get your fair share of the trillions of dollars the U.S. government will spend subsidizing individual health insurance plans between now and 2025. You will learn how to navigate the Affordable Care Act to save money without sacrificing coverage, and how to choose the plan that offers exactly what you, your family and your company need. Over the next 10 years, 100 million Americans will move from employer-provided to individually purchased health insurance. The purpose of The End of Employer-Provided Health Insurance is to show you how to profit from this paradigm shift while helping you, your family, and your employees get better and safer health insurance at lower cost. It will help you save thousands of dollars per person each year and protect you from the greatest threat to your financial future-our nation's broken employer-provided health insurance system. We are at the beginning of a paradigm shift in the way businesses offer employee health benefits and the way Americans get health insurance-a shift from an employer-driven defined benefit model to an individual-driven defined contribution model. This parallels a similar shift in employer-provided retirement benefits that took place two to three decades ago from defined benefit to defined contribution retirement plans. Written by a world-renowned economist and New York Times best-selling author, this insightful guide explains how individual health insurance offers more to employees than employer-provided plans. Using the techniques outlined in this book, you and your employer will save money on health insurance by
migrating from employer-provided health insurance coverage to employer-funded individual plans at a total cost that is 20 percent to 60 percent lower for the same coverage. That's 4,000 to 12,000 in savings per year for a family of four for the same hospitals, same doctors, and same prescriptions.
Contents:
Cover
Title Page
Copyright
Contents
Preface
Executive Summary-Why You Should Read This Book
Introduction-The End of Employer-Provided Health Insurance
Part I The Problem and the Solution
Chapter 1 The Disadvantages of Employer-Provided Health Insurance
What Happens After You Lose Your Job with Employer-Provided Health Insurance
10 Reasons Employer-Provided Health Insurance Is Bad for You, Your Family, and Your Company
Chapter 2 The Advantages of Individual Health Insurance
10 Reasons Individual Health Insurance Is Good for You, Your Family, and Your Company
The Obvious Solution-Employer-Funded Individual Health Insurance
Chapter 3 The Solution-Employer-Funded Individual Health Insurance
The Coming Revolution-Defined Contribution Health Benefits
Tax-Free versus Taxable Defined Contribution Programs
The Regulatory Crisis of 2013 over Reimbursement Plans for Individual Health Insurance
What Should Employers Do Now to Reimburse Employees Tax-Free for Individual Health Insurance?
Conclusion
Part II How to Make Individual Health Insurance Work for You and Your Family
Chapter 4 What Is Individual Health Insurance?
The Advantages of Individual Health Insurance
What Is Health Insurance?
What You Learned
Chapter 5 How Much Does Individual Health Insurance Cost?
How Individual Health Insurance Premiums Are Determined
Personal Factors Influence Your Individual Health Insurance Premium
Sample Individual Health Insurance Rates
What You Learned
Chapter 6 Premium Tax Credits: Are You Eligible for the Subsidy?
Are You Eligible for Premium Tax Credits?
Determining the Amount of Your Premium Tax Credit
Using Your Premium Tax Credit
Receiving Your Premium Tax Credit
What You Learned
Chapter 7 When Can You Buy Individual Health Insurance?.
Annual Enrollment Period
Special Enrollment Periods
Special Enrollment Periods-Act Fast or Pay
You Must Buy Health Insurance-Or Pay a Tax Penalty
What to Do If You Miss Your Enrollment Period
What You Learned
Chapter 8 Where Can You Buy Individual Health Insurance?
On-Marketplace or Off-Marketplace-Which Is Better?
What Is a Health Insurance Marketplace?
How to Use Your State's Health Insurance Marketplace Website
Working with Health Insurance Brokers
Buying Directly from the Health Insurance Company
What You Learned
Chapter 9 How to Choose Your Coverage-Bronze, Silver, Gold, or Platinum
Choosing a Plan Category
Picking the Right Out-of-Pocket Exposure
Understanding the Benefits Covered
What You Learned
Chapter 10 Networks-Choosing Your Doctors and Medical Providers
How Provider Networks Started
Different Types of Health Plans
Choosing between a PPO and an HMO
How to Choose a Medical Provider Network
Beware of Products That Are Not Health Insurance
What You Learned
Chapter 11 How to Select the Right Plan for You and Your Family
Estimating Your Future Healthcare Spending
Comparing Policy Features
Selecting the Plan and Buying
What You Learned
Chapter 12 How to Reduce Your Individual Healthcare Costs
1. Ask Your Employer to Reimburse Your Individual Premium
2. Shop for a New Health Insurance Plan Annually
3. Open a Health Savings Account (HSA)
4. Speak to Your Doctor about Spending Your Money as if It Were His or Her Own Money
5. How to Save 10 to 75 Percent on Your Prescription Drugs
6. Change Your Lifestyle (Diet and Exercise)
What You Learned
Part III How to Switch to Defined Contribution Healthcare
Chapter 13 What Is Defined Contribution Healthcare?
The Problem-Employer-Provided Health Insurance Costs Are Unsustainable.
The Solution-Reimburse Employees for Individual Health Insurance
Three Reasons Individual Health Insurance Is Better for Your Company
How Defined Contribution Works
Three Ways to Offer Defined Contribution Healthcare
How Much Will Your Company Save with a Defined Contribution Program?
What You Learned
Chapter 14 How to Conduct a Defined Contribution Financial Analysis
Conducting a Financial Analysis-Six Steps
What You Learned
Chapter 15 How to Implement a Defined Contribution Solution
Is Your Company Ready for Defined Contribution?
Implementing a Defined Contribution Solution in Six Steps
1. Pick a Start Date
2. Set a Cancelation Date
3. Decide Who Is Eligible
4. Allocate Allowances
5. Communicate Your New Program to Employees
6. Help Employees Buy Individual Health Insurance
What You Learned
Chapter 16 How to Choose a Defined Contribution Solution Provider
Best Practices for Defined Contribution Healthcare
Features to Look for in a Defined Contribution Solution Provider
10 Questions to Ask Defined Contribution Solution Providers
What You Learned
Chapter 17 How to Communicate Defined Contribution to Employees
Communicate Early and Frequently
Announcing Your Defined Contribution Program
Custom Employee Welcome Packets
How to Help Employees Purchase Individual Health Insurance Plans
Using Your Defined Contribution Program to Recruit New Employees
What You Learned
Appendix A State-by-State Guide to Individual/Family Health Insurance Costs
Methodology
Individual Single Health Insurance
United States
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland.
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Appendix B Is Your Company Required to Offer Employer-Provided Health Insurance?
Is Your Company Subject to the Employer Mandate?
What Is the Amount of Your Shared Responsibility Payment?
References
Acknowledgments
About the Authors
Rick Lindquist
Paul Zane Pilzer
Index
EULA.
Notes:
Description based on publisher supplied metadata and other sources.
Local notes:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2021. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Contributor:
Lindquist, Rick.
Lindquist, Rick.
Other format:
Print version: Pilzer, Paul Zane The End of Employer-Provided Health Insurance
ISBN:
9781119012122
9781119012115
OCLC:
891186058