It can be difficult to navigate the world of healthcare. Healthcare cost and compliance may seem daunting to employers who are trying to figure it all out. Luckily, United Benefit Advisors (UBA) has created a number of cost and compliance resources to help employers through the tricky and tedious steps of the process. And the best part: all of these sources are free. Here are a few helpful resources provided by UBA, the nation’s leading independent employee benefits advisory organization.
It is highly important that employers evaluate their health plan design, prepare for the future of healthcare, and manage the rising costs. This tasks often seem difficult to manage, especially in today’s world. It is becoming increasingly difficult for employers to find accurate information regarding how to go about these processes. An employer can’t make the right strategic business decision without knowing all of the facts. This service will create a custom report of your health plan, thus giving you a leg up on the competition when it comes to recruiting and retention. Through this free service, you will be able to evaluate your health plan and compare it to those of other companies by industry, cost, region, state, size, and more.
Many employee benefit limits are “indexed” limits. This means that they are automatically adjusted each year to accommodate inflation. Luckily, United Benefit Advisors offers a very user-friendly reference chart in order to make these adjustments easier and more accurate. This chart shows the 2016 cost of living adjustments for health and Section 125 plans, as well as qualified plans and Social Security & Medicare withholding. This free resource is a must-use for HR practitioners and employers alike. Just take a quick look at this chart and you will be able to figure out which benefit limits are the most applicable to the current economy.
United Benefit Advisors has worked hard to survey and advise employers across the nation. Through this experience, UBA gains a wealth of information yearly regarding the healthcare policies of thousands of employers. This information includes their health plan offerings, as well as the decisions they are making in response to significant marketplace and legislative changes. UBA also asked about the effects of that these changes had on businesses and on employees. They then put this information, which was gathered from 10,804 employers sponsoring 18,186 health plans, into a convenient survey summary.
This information is instrumental in helping other people create competitive healthcare policies for their companies and learn how to manage cost and compliance in the best possible way. The UBA Health Plan Survey is the largest health plan benchmarking survey in the country and it is by far the most accurate source in terms of design data and plan cost.
For employers, writing a letter to your employees regarding policies can be a hassle. The UBA has a resource for that too. The template provided by the United Benefits Advisors is used by employers so that they can tell employees what to expect when it comes to IRS Forms 1095-B and 1095-C. The template also provides information about what employees should do with any forms that they receive. While this may seem like a small feature, formatting emails can be a very tedious task, and this format can save employers a lot a time and effort. Of course, the template is meant to be edited in order apply to the particular company, and employers are able to add any pertinent information.
United Benefit Advisors works hard to advise employers with regard to healthcare. These free services are a testament to the care that UBA takes to help people in any way possible. These services are extremely helpful in healthcare making cost and compliance a whole lot easier for employers.