BENEFITS

Employee Benefits

we've got you covered. When it comes to human resources and outsourcing companies there are many questions to ask when deciding on which place has your best interests in mind. ModernHR provides many benefits for their employees while also providing services from the employers to protect the staff under their hire. We can help companies by effectively and efficiently managing the entire benefits process – from enrollment to COBRA. We have a team of seasoned benefits specialists who are dedicated to providing and administering the most robust health care options available on the market.

Affordable Care Act (ACA)

Today we are in one of the most complex times in the history of health care. Since it was first brought into existence, ACA has been a huge topic of debate. Regardless of opinions, however, it is something that all Americans must adhere to. ModernHR can help with bringing you up to date so that you can get the most benefit from ACA and its requirements. Here are just a few tidbits below:

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Did You Know?

Pre-Existing Conditions

One of the most significant changes that ACA brought about was the change to pre-existing conditions. Before, those with these types of conditions may find themselves not covered if they changed jobs or insurance companies. However, with ACA, all insurance companies are required to offer insurance, even for those with these types of conditions.

Rescission.

Another issue that some people had to endure before ACA was when they would be dropped by their insurance providers after they became ill. Now, this is no longer allowed. Also, there is no longer an allowed cap on lifetime coverage costs.

Future of ACA

In order to help insurance companies, businesses and individuals become accustomed to the many changes being delivered by ACA, the law was actually implemented in stages. For the most part, many of these provisions have already been past and are now fully in place. However, there are still a couple of items left to consider.

By the year 2019, what is known as the “donut hole” gap that is currently a part of Medicare Part D will be phased out. This is a portion of the plan that will attempt to make it much more cost-effective for those who are on Medicare. With this portion of ACA, the out-of-pocket costs that these individuals pay should be expected to decrease.

ACA is an important law that everyone should be familiar with. Whether you are an individual or a business, you are impacted by this law. In order to avoid paying hefty penalties, ModernHR will make sure you are covered appropriately and that you are managing your health care coverage efficiently.

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