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.
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.
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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2021. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.