Bernardini & Donovan Insurance Services

Blog & News

Affordable Care Act – Here to Stay?

When the Affordable Care Act was signed into law in 2010 there were so many predictions going on. This will never last…. How can we possibly sustain this… This will change everything… Whether you were for the Affordable Care Act or against it we have seen some drastic changes in our country because of it. We have seen people who were not insured be penalized on their federal income taxes for not signing up. We have seen families adjusting to different expenditures on their health care. We have seen many who never had health insurance now be covered. But one of the questions that you may be asking (along with many other Americans) is the Affordable Care Act here to stay? This is an excellent question and depending on who you ask you may receive two drastically different answers. The Los Angeles time recently reported on a study done by

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Mergers and Withdrawals

Last summer we saw a huge announcement within our health providers when the Big Five national health providers announced that they would become the Big Three with a merger between Anthem and Cigna and a merger between Aetna and Humana. However, as soon as the announcement was made there were outcries against these mergers. There has been concern that if these five large companies which provide much of the innovation within the health industry are not working to stand out or outperform their competitors then the innovations such as new programs for consumers, seniors, and formerly uninsured will stop as well as the possibility of insurance premiums going up. And just recently the US Attorney General Loretta E. Lynch, announced that they had filed lawsuits against these mergers with the purpose of blocking these deals. Their main concern is that these mergers “would leave much of the multitrillion-dollar health insurance

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Health and Wellness Benefits

There are so many benefits to having health insurance. From the simple fact that when you are feeling not at your best you have a place to go to get some care. Even having the peace of mind of knowing that when your baby won’t stop coughing you have an expert at hand who will give you everything you need to take care of your little one. But did you know that there are many additional benefits to your health insurance besides your basic doctor visits, prescription drugs and hospital care. Online access – How many times have you lost your ID card and need to call to get a new one mailed to you. With online access you can print out a new ID card immediately. You can also see your claims, changed doctors, and never be on hold for over an hour again. You can do all of

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Tax Benefits You Can Get By Offering A Small Employer Sponsored Health Plan

Health insurance can be a very complicated part of being a small business owner. Many small business owners struggle with what they should do when it comes to health insurance for their employees. Many times they want to offer health insurance as an option but they find it difficult to fund that as a business owner. It can be very expensive and prices are only rising due to the healthcare mandate. However, there are options for you as a business owner so you can save money as well as provide a health insurance plan that they can choose.Tax DeductionsAs a business owner, if you offer a qualifying group health insurance plan for your employees, you may be able to deduct 100% of the the premiums that the business pays for the employees. This is great news for all businesses but especially small business owners. While the cost may be high

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Why To Consider Offering An Employer Sponsored Health Plan Instead of Reimbursing Employees

In recent years, there have been small business employers who have opted to reimburse their employees for the cost of health insurance instead of offering health insurance. While you are not required to offer health insurance to employees if you have less than 50 full time employees, you may want to consider doing so. Reimbursement for Individual Health PlansIf you reimburse your employees currently, there is a huge reason to stop doing that immediately. With the Obamacare mandate, you may be fined up to $100 per day, up to $36,500 per year, if you reimburse employees for medical care and have more than 50 full time employees. As a small time business owner, this is not a fine you have to worry about with 2-50 full time employees but if your company is growing, you may want to stop offering this before you do run the risk of paying a

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A Buyer’s Guide: What to Look For in a Small Employer Sponsored Health Plan

As part of the Affordable Care Act, employers with 50 employees or more must provide or help subsidize health insurance for their employees. Rather than looking at this policy change as a potential cost, small and medium business owners should focus on the competitive advantage – and tax benefits – offering health coverage can provide. As the cost of healthcare continues to rise, good health insurance coverage is becoming more and more of a differentiator when top talent is choosing between companies. Especially as younger generations enter the workforce, they expect to receive coverage and may use these types of benefits to help decide what companies they want to apply and work for. To ensure your business stays competitive within the job market, here are three top considerations to guide your decision when choosing employer sponsored healthcare: Know What Coverage Matters: the top coverages employees look for are preventative care,

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