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  • If you’ve noticed that your family health insurance prices are on the rise, you’re not alone. In fact, the cost of family premiums for employer-sponsored coverage has jumped 47% in the last decade – which outpaces wage growth at 31% and inflation by 23% over the same period. In the last year alone, premiums for family coverage reached an average of $22,221, a 4% increase.

    Roughly 155 million people rely on employer-sponsored coverage, with 59% of employers offering health benefits. It’s no secret that the larger the company, the more likely they are to offer a health plan. That said, the looming crisis of affordability continues to be an ongoing issue throughout the country. This proves especially true for small businesses with tighter budgets and fewer management resources at their disposal. On average, small businesses pay 8-18% more than large firms for the same insurance plans. Furthermore, location and industry type can make your organization’s premiums even (you guessed it) higher. Northeast and Midwest regions of the United States typically see more expensive premiums – as do those in the transportation, utility, and construction industries.

    Outside of the cost to implement a group health plan, many small business owners are often spread too thin – thus making the cost of time to actually administer the plan yet another hurdle to overcome. Managing a group health plan can be labor-intensive because of the ongoing regulatory changes, complicated communication processes, and the dreadful renewal process.

    Still, not offering health benefits is a recruiting and retention risk that you do not want to take. “Offering a healthcare plan is one of the most effective steps you can take as we continue to witness a workforce shortage,” shared GMS VP of Benefits, Beth Kohmann. “In today’s turbulent times, people throughout the country are looking for a solid, affordable healthcare plan to give them peace of mind. As an employer, providing that to your employees is one of the most vital things you can do.”

    Given the difficulty of offering an affordable, comprehensive plan, it’s easy to see why many business owners turn to a Professional Employer Organization like GMS. When you partner with GMS, you’ll take advantage of our consultative approach, giving you plan options and savings that will benefit your organization. In fact, last year GMS family premiums were 34% lower than the U.S. average.

    Contact us today to discuss a health plan tailored to your organization’s needs.

  • The controversial COVID-19 vaccine mandate had countless private-sector workplaces with 100 or more employees concerned over the testing and vaccine mandate. After a lawsuit was filed Friday by a group of plaintiffs, including Louisiana Attorney General Jeff Landry, the order has been suspended by the court. The court ordered that OSHA, ”take no steps to implement or enforce” the ETS “until further court order.”  OSHA has suspended activities accordingly. 

    A three-judge panel of the Fifth Circuit Court of Appeals slammed Biden’s end-justifies-the-means approach. The constitution limits what the federal government can make people do, even in emergencies.   

    Because similar challenges to the emergency temporary standard (ETS) have been brought in all but one of the 11 federal circuit courts of appeals, the U.S. Judicial Panel on Multidistrict Litigation will conduct a lottery as required by statute, pursuant to 28 U.S.C.A. §2112 (a)(3), likely this week, to select which federal circuit will hear appeals in the numerous challenges, including with respect to the Fifth Circuit’s order. Any outcome from the circuit selected in the lottery process may and likely will be appealed to the U.S. Supreme Court.  

    There are many other details that the public deems unconstitutional, which the NY Post covers in detail. For example, companies right under the 100-employee mark do not apply for this new order along with people who do not work or work at home. This case is headed for the US Supreme Court where this is unlikely to pass.   

    GMS will continue updating you on all the details to come regarding this new mandate. Be sure to stay in the know by subscribing to our email list.  

  • Washington has officially announced that under government ruling, starting on January 4th, all companies with 100 or more employees will need to be vaccinated or produce a verified negative COVID test weekly.  If one should not fully comply, there will be a nearly $14,000 fine per violation – up to $136,532 for a willful violation of rules. Unvaccinated employees must also wear masks. This new ruling will affect more than 84 million workers at medium and large companies.  

    Stricter rules will apply to 17 million people who work in nursing homes, hospitals, and other facilities that receive Medicare and Medicaid. They all must be vaccinated and will have no option to be tested.  

    Along with vaccine mandates and testing, OSHA requires that businesses provide paid time off for employees to get vaccines and sick leave to those who have gotten sick from the virus, which will go into effect on December 5th.  

    OSHA also states that because vaccines are free of cost, the companies do not need to pay for the tests for employees who do not wish to receive the vaccine.  

    Administration officials say efforts to get people vaccinated are paying off with about 70% of the nation’s adults now fully vaccinated. Although some companies fear that vaccine-hesitant people might quit which leaves an already-struggling small workforce even thinner.  

    This situation remains fluid and it is expected more changes and announcements are forthcoming. 

    Partnering with GMS can help business owners navigate legislative updates during these unprecedented times. To learn more about our services, contact us today. 

  • Recently, I turned 48. Forty years ago, the age of 48 looked and sounded ancient. When I hit my 30s, it no longer seemed so old. I’ve been seeing a lot of stories recently about people I know or know of who are dying in their 50s and 60s. As I look at my two daughters, I grow more concerned about the prospect of only being on this planet for another 10-15 years.

    Every morning I curse my 4:55 a.m. alarm when it wakes me so I can meet my buddy Kurt for our 6 a.m. workout. Having a workout partner helps on those cold Cleveland mornings — and there are many! However, as I was making that trek in to work out, I thought how lucky I was to be working for a company that values employee wellness the way GMS does.

    Healthy Employees are Productive Employees

    There definitely is a financial component to this value. Small businesses and large companies alike can see a $3 reduction in their health insurance premiums for every $1 that they spend on employee wellness.

    In addition, healthier, fitter employees tend to be more productive employees. In a recent article, Lee Dukes, president of Principal Wellness Company says “It’s in every employer’s interest to have healthier, happier, more productive employees.” To that end, “Employers have to do more than offer wellness programs; in order to see the benefits, they have to incent participation.”

    Incentivizing Wellness

    In my travels as a sales rep, I talk to business owners across a wide range of industries. I have yet to meet anyone who dismisses wellness as a fad, but most only pay lip service to it. Most are not willing to offer employees incentives to stay healthy.

    Should we as employees be interested in our own health? Absolutely! Can we be more interested if there’s an incentive? Yes.

    I have seen firsthand at GMS an uptick in physical activities among employees every year in the third quarter when we have our annual wellness contest. I have also seen many of those habits in my fellow employees carry on throughout the year.

    Many of these same Ohio small business owners I talk to don’t think about healthier employees being more productive employees. They buy into the idea that it’s none of their business what the employees do with their personal time and habits. However, healthier employees are not just more productive, they also tend to work more injury-free, greatly helping small businesses in their risk management and lowered worker’s compensation claims.

    Long and Healthy Lives

    When I go home at night and I’m too physically tired to do everything my daughters want me to do, I do take some comfort in knowing that I’m doing what I can to make sure that I’ll be around for another 30-40 years.

    Have you thought about these issues? I’d love to hear what others are doing to help ensure they lead long and health lives. What are some ways employers can incentivize wellness?

  • Since the Affordable Care Act (ACA) passed in 2010, many business people and consumers have felt that their insurance costs were going to be going up. I’m sure they have never regretted being so right.

    The deadline looms for Ohio to submit insurance plan options to the federal government for the healthcare exchanges. As the deadline approaches, there have been more and more articles both locally and nationally that talk about projected increases in healthcare premiums.

    ACA Impact in Ohio

    In Ohio, Lt. Governor and Director of Insurance Mary Taylor has talked about small businesses seeing an increase between 50-85%. Some companies may even see an increase as large as 150%, she says. Granted, under the ACA, companies with older or sicker populations may see their premiums shrink by as much as 40%. However, those with populations which were once more desirable will see a huge increase. This is due to the law’s provision that rates must be based on a large community (community rating) with premiums being more equally spread over that community.

    Many news stories are being written about the “unintended consequences” of this law. Some of the ACA’s biggest supporters, like unions and members of President Obama’s party, are beginning to voice serious concerns about the law.

    Understanding the ACA

    Of course, the ACA is now the law of the land thanks to the Supreme Court’s ruling in June of 2012. That means that employers will have to make pretty tough decisions in the next few months as more of the law’s features begin taking effect. Many employers have been taking advantage of what has become a cottage industry of late, the Obamacare seminars. However, those have left many employers even more confused.

    Large companies are also confused, but have more resources to guide them through these waters. Small business owners must learn to navigate them alone, or do what others have done and begin conversations with a Professional Employer Organization (PEO) like GMS. A PEO can provide small businesses the same resources and infrastructure that a large company has without all of the associated costs.

    PEOs Can Help

    For further information on how a PEO can help you deal with the ACA, contact Tim Austin at taustin@groupmgmt.com or 330-659-0101.

    “Stethoscope and Piggy Bank,” ©401(K) 2012, used under Creative Commons Attribution-ShareAlike 2.0 Generic license.

  • In 2014, small group health insurance premiums in Ohio are expected to increase by 71%. As a business owner, you know that healthcare is already a significant expense, and increases like this are likely keeping you awake at night, wondering how you can keep employees insured AND pay the bills.

    Fortunately, you can start sleeping better again, because Group Management Services has a completely unique and customizable solution that enables you to provide the coverage your group needs while limiting your expenses and business risks associated with healthcare coverage.

    To give you an idea about how GMS can do this, let’s first take a look at how small and medium-sized businesses are covered today: fully insured plans.

    Fully Insured Healthcare Plans

    Under fully insured healthcare plans, the insurance company will determine your business’s premiums based on projected claims, which are determined by the Experience Rating (soon to be Community Rating). In essence,  groups are rated on a scale. The closer to 1 the  group is, the healthier. The healthier the  group, the lower the premium.

    The problem with this scenario is that the insurance company determines how healthy a person is AND how much that person’s premium is going to be. As a business owner, they don’t provide any solutions or alternatives.  Self funding with GMS provides options.  

    A Healthcare Solution For Business Owners

    As a business owner, this can be pretty daunting.

    Enter our two-step solution, which not only limits your healthcare expenses, but keeps the quality of those benefits at the level your employees deserve.

    Step 1: Self-Insured Healthcare

    GMS is proud to announce the launch of Group Captive Management (GCM), a self-insured captive insurance company that benefits your business in many ways:

    1. Save money: We will underwrite a custom policy for your group so you won’t have to pay for insurance that your group doesn’t need.
    2. Increase cash flow
    3. Limit your risk: Stop-loss insurance will minimize your exposure
    4. Spend time growing the business: GMS covers everything, from  eligibility to claims to customer service. Don’t spend time buried in the details. Leave that to us.
    5. Keep employees happy: Instead of dropping insurance altogether, reducing employees’ to part-time hours, laying employees off, or going out of business, you can offer great health benefits  while competitors are struggling to cope with the healthcare changes.

    Step 2: Third-Party Administration

    We are also proud to announce today the acquisition of third-party administrators: Ogden Benefits Administration, Employee Benefit Concepts, and Variable Protection Administrators.

    This acquisition, in conjunction with our self-insured plans, provides even more benefits to small and medium-sized business owners:

    1. Further earn your trust: With our TPA services, we hold ourselves accountable for the policies we underwrite for your group. You will know that your employees are getting all the healthcare benefits promised.
    2. Lower your premiums: GMS now has access to tools that can keep your healthcare claims low, which keeps your premiums lower and your cash flow higher.
    3. Centralize points of contact: You no longer have to hire and pay a separate TPA. Now, you can work directly with GMS for all of your healthcare benefits needs.  

    Let’s Get in Touch

    Sure, there are a lot of healthcare changes coming your way. But you don’t have to navigate them on your own.

    Regardless of whether you’re a client or a prospect, the time is now to make your business simpler, safer and stronger. Give us a call at 330-659-0100 or contact us for more information about our self-insured and TPA services today.  

  • The news channels are flooded with updates on the trials and tribulations of the Affordable Care Act’s website and accompanying registration process. Politics aside, the implementation of this piece of legislation could mean big changes and larger financial challenges for your health benefits plan.

    Most small business owners today are able to provide some form of health insurance coverage for their employees through large commercial healthcare plans. However, with the Affordable Care Act, these plans will come at a cost for business owners. In fact, Ohio businesses are expected to see a 71% increase in these premiums. 

    These high increases may force you to reduce or eliminate the health benefits you are able to extend to your employees, forcing them to buy insurance from the government’s healthcare marketplace.

    An Alternative to Government Healthcare

    The appeal that the Affordable Care Act has for many Americans is also one of its biggest challenges for those looking to enroll. Long wait times, sparse customer service and other registration obstacles will make it difficult, not to mention aggravating, for your employees to secure health benefits which match their needs.  

    Fortunately, you have another option for your company’s health benefits. You can implement a self-insured plan. Self-insured companies are responsible for their own medical costs, eliminating the need to subsidize the healthcare expenses of other insurance groups.  

    How Self-Insured Policies Work

    Self-insured healthcare provides plan flexibility, control and the potential for premium reductions for your business. Companies are responsible for contributing to a claims fund each month and that money is used to cover all employee medical expenses beyond their out-of-pocket costs. With a self-insured plan, you can still provide quality care to your employees and protect them from having to navigate through miles of government red tape.

    An essential component for any self-insured policy is known as the TPA, or third-party administrator. TPAs ensure that your employees are getting all the benefits promised to them in their insurance policy.  

    Who Has the Time?

    Of course, if you’re a small-to-medium sized company, you are probably thinking “Sounds great, but we don’t have the time or resources to manage self-insured policies ourselves.” 

    That’s where GMS comes in. Our services:

    • Let you focus on growing your business. We cover everything from eligibility to claims management and even customer service.
    • We’ll worry about the policy details. You worry about growing your business.
    • Save you money. We underwrite a custom policy for your group so you won’t pay for extra insurance that you don’t really need.
    • Limit your risk. We offer stop-loss insurance, which minimizes your exposure in the event of an unforeseen and major health claim.

    Learn more on how a self-insured plan administered by GMS can drastically reduce your health care costs, increase the cash flow of your business and ultimately provide better coverage for your employees and their dependents. Contact us today. 

    Image credit: 

    Creative Commons Image: Images_of_Money

     

  • How healthy are your employees? If you are a small business owner looking to save money on your healthcare, let’s hope they are all vegetarian non-smokers training for a marathon, right? 

    While that would be great, for your small business what matters more for your bottom line is the type of healthcare plan you provide. You have two choices: a fully insured plan or a self-insured plan. 

    TPAs and self-insurd plans can save your small business money. Image is a piggy bank with a $100 bill. “Health Care Cost” by Tax Credits licensed by CC BY 2.0

    Type of health insurance coverage matters

    Many small business owners today provide some form of health coverage through fully insured healthcare plans. However, with the Affordable Care Act, the prices on those premiums are on the rise. 

    In the face of these increases, you might want to consider a self-funded group plan, which can:

    1. Increase cash flow
    2. Limit your risk
    3. Keep employees happy

    How it works: With a self-insured policy from GMS you pay a specific amount into a claims fund each month. This contribution is what covers your employees under your plan. With a self-insured plan from GMS you only pay for what you need, and you can further protect yourself with stop-loss insurance so you won’t have unexpected expenses in the event of a major claim. 

    “When companies are self-insured, they assume most of the financial risk of providing health benefits to employees. Instead of paying premiums to insurers, they pay claims filed by employees and health care providers. To avoid huge losses, they often sign up for a special kind of “stop loss” insurance that protects them against very large or unexpected claims, say $50,000 or $100,000 a person.”

    Step 2: Third Party Administration

    Further earn your trust
    With our TPA services, we hold ourselves accountable for the policies we underwrite for your group. You will know that your employees are getting all the healthcare benefits promised.

    Lower your premiums
    Proper management of healthcare can lead to lower claims, lower claims leads to lower premiums which will make your cash flow higher.

    Centralize points of contact
    You no longer have to hire and pay a separate TPA. Now, you can work directly with GMS for all of your healthcare benefit needs.

    What is the benefit of having a third-party administrator manage my plan?

    When you have a third-party administrator, like Group Management Services, manage your self-insured plan you ensure your employees receive everything promised to them, and limit you from spending more money than anticipated. Plus, you have the choice to pick coverage that your group actually needs.

    More Related Links:

    Learn more about TPAs and self-funded plans by reading our previous posts below:

     

    What do you think about the health insurance plan options for small businesses? Would you make any changes or suggestions? Let us know your thoughts in the comments below.

  • Imagine you’re the CEO of a company with 49 employees. You’re currently covered through a fully insured health plan, but are considering switching to a self-insured group plan due to the potential premium increases resulting from the Affordable Care Act.  

    All of the companies you know with self-funded plans are larger companies (250+employees), so you aren’t sure if this is the right solution for you. You’re also concerned that since you would pay self-insurance claims directly, your company could be liable for a major claim if an employee has a serious health issue. 

    What do you think – what would you do in this situation? Before you make a decision, consider the following key points. 

    What happens when you have a major claim on a self-insured policy?

    The answer depends on the stop-loss insurance coverage.

    How Stop-Loss Protects you From Major Unforeseen Claims 

    • Stop-loss insurance protects you from higher-than expected claim totals. If your group’s claim amount exceeds the self-funded limit, the stop-loss insurance provider will  pays the difference.

    How Third Party Administrators (TPAs) Can Help

    • Reduce administrative tasks – TPAs administer the health plan by processing the claims, issuing ID cards,  and dealing with customer questions
    • Offer stop-loss with self-funded plans

    Benefits of TPA Self-Funded Health Plans with GMS 

    Creative, custom-tailored solutions for your employees 

    • Only pay for what you need – pay a specific amount into a claims fund each month
    • Stop-loss insurance included – you won’t have unexpected expenses in the event of a major claim 
    • One bill – streamline billing makes payments easy
    Ok, so go back to the beginning and imagine you are that business owner again. 
     
    Would you feel more comfortable making a decision with this information on TPAs and self-funded plans? Hopefully you’ll see that this option is not just for large companies—that this could be a time and money saving option for your company, too. 
     
    If you’re interested in learning more about how GMS can help save your real company time and money with TPA services, let us know. We’re always here!

  • In the event of a fire, we have all been taught STOP, DROP, and ROLL. But do we know what to do in the event of an unconscious, choking, or injured employee? According the Bureau of Labor Statistics, more than 211,000 workplace injuries occur each year. In an emergency, seconds count. Is your staff ready? 

    Image of CPR training. GMS is a certified training provider through the Red Cross.

    Training Your Staff for Medical Emergencies

    GMS is now a licensed training provider through the Red Cross. We can provide your entire staff with the training and skills they need to prevent, prepare for, and respond to emergencies at a significantly reduced cost.  

    We will be offering trainings in:

    • First Aid
    • CPR
    • AED
    • Bloodborne Pathogens

    Preparing Your Staff Through Licensed Emergency Training

    “Prompt, properly administered first aid care can mean the difference between life and death, rapid vs. prolonged recovery, and temporary vs. permanent disability.” – OSHA. 

    As a licensed training provider through the Red Cross, we can help your company be prepared in case of emergency. Contact GMS today for more information or to schedule your training today!