Wooster Community Hospital reviews health insurance policies
Several issues were reviewed by the human resources committee, which apprised the full board of where things stand.
First, as reported by
This is the first year the employer mandate has been in effect and per the ACA regulations, the hospital is required to provide coverage for employees who work more than 30 hours per week. If it does not, it would be subject to a penalty.
Even though WCH provides coverage to people who work more than 24 hours, Capek said the hospital has engaged an outside company to audit its data to maintain compliance and file required documentation for the
As the hospital begins to prepare its 2016 budget, Capek added, the committee discussed staff wages, employee portions of health coverage and is considering offering a flexible spending account to staff in order to offset taxes for co-pays and deductibles.
And lastly, Capek apprised the board of a new tax called a "transitional re-insurance fee" under the ACA.
This year, the hospital will pay about
The law requires all health insurance issuers and third-party administrators on behalf of self-insured group health plans to pay the transitional re-insurance fee to support payments to individual market issuers, which cover high-cost individuals, per the
Capek also noted from the
The hospital decided not to offer open enrollment, a decision it needed to make by
When asked what went into that decision,
The hospital is only two months away from its regular open enrollment period, Taylor added, and that qualifying events -- such as getting married -- would be eligible for coverage under the hospital's insurance regardless.
Reporter
Richard E. Fuhrer / Insurance exec's other passion was golf
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News