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July 13, 2020July 29, 2020

What You Need to Know About Group Health Insurance for Small Businesses (Part II)

Group-Health-Insurance In part one of this blog, we discussed the difference between a small-group and a large-group when it comes to determining what health insurance plan is right for your business and employees. We also discussed the importance of group health plans along with some of the different types of health insurance plans that could be offered by small businesses.

Now, in part II of this blog, Bernardini & Donovan will discuss employer-sponsored health plans (and things to consider) in addition to how to find an appropriate health insurance agent for you and your small business.

Employer-Sponsored Health Plans for Small Businesses

According to health insurance laws, small group health insurance must be made available to be sold to any small business that qualifies for group insurance.

As a small business, your group must be able to prove that you are a viable business by providing some basic business documentation. All insurers generally have the same requirements, but occasionally they will relax the qualifying guidelines in an effort to acquire new business.

Once a group is deemed qualified, they have hundreds of health insurance plan options from which to choose. It is important to have a knowledgeable broker like Bernardini & Donovan Insurance Services, Inc. at your side to help you determine qualification and assist in selecting a plan that meets your coverage needs and budget.

The insurance companies generally require that a certain percentage of employees participate in the employer plan and this percentage varies based on group size and the insurance company selected. Now, to ensure your business stays competitive within the job market, here are three things to take into consideration to guide your decision when choosing employer-sponsored healthcare:

Preventative care coverage: Most health plans must cover a set of preventive services like shots and screening tests at no cost to you. 10 essential health benefits required by the Affordable Care Act (ACA) for small businesses (1-100 employees) and individual health insurance plans.

Know what coverage matters. First, the top coverages employees look for are preventative care, hospitalization, and copays. Understanding these coverages is your first step to choosing policies that keep your workforce healthy and happy. Talk to our team of specialists to help you balance the cost against these critical needs.

○ Ambulatory patient services (outpatient services)

○ Emergency services

○ Hospitalization

○ Maternity and newborn care

○ Mental Health and substance use disorders, including behavioral health treatment

○ Prescription drug coverage

○ Rehabilitative and habilitative services (those that help patients acquire, maintain, or improve skills necessary for daily functioning) and related devices

○ Laboratory services

○ Preventive and wellness services and chronic disease management

○ Pediatric services, including oral and vision care

Large and small group health insurance policies are designed to provide the best possible coverage for individuals who are part of a specific group.

Hospitalization coverage: The cost of medical care, especially hospital stays, can quickly add up. This plan can either a) help you prepare your budget for unexpected medical costs resulting from a hospital stay or b) pay your benefits for other medical services depending on the policy when you are confined to a hospital, whether the reasons are planned or unplanned, and can cover short or long term stays.
Copay coverage: A copayment or copay is a fixed amount for a covered service, paid by a patient to the provider of service before receiving the service. Copayments can vary for different services within the same plan, like drugs, lab tests, and visits to specialists.
Generally, plans with lower monthly premiums have higher copayments. Plans with higher monthly premiums usually have lower copayments.

Choose who gets covered. Second, you need to decide if everyone will qualify for the same policy. Will you offer coverage to part-time employees? How will you treat their dependents? The amazing thing is that you do not need to choose a “one size fits all” policy. Your insurance agent will help you understand your workforce and choose policies that comply with the ACA while meeting your needs and those of your employees.

Decide how much you will contribute. Third, you will decide how much of these policies you choose to subsidize. Some employers opt to pay for the entire policy, others offer a sliding cost scale based on coverage, and some only cover a flat percentage of the employee’s total health care costs. It’s important that you offer “affordable” coverage to avoid any fines associated with the ACA, so work with your provider to understand median policy costs in your region and how these costs stack up against your employees’ wages and cost of living.

Things to Consider with an Employer Health Plan

When you own a small business with less than 50 total employees, you are not required by law to offer a health plan for your employees; however, you may still want to. Before choosing a group health plan for your employees, there are a few things to consider.

First, you need to keep both your business goals as well as the benefit of your employees in mind. This is a careful balance, but it can be done with the right considerations along the way. Use this list as your guide through the process:

❏ How much can your business pay and how much can your employees pay? In general terms, plans come in terms of premiums. The higher the premium, the lower the costs out of pocket and vice-versa. Something to consider is how much both your business and your employees can afford in terms of premiums and out of pocket costs when they use the insurance. You will want to find a happy medium that makes both you and your employees happy.

❏ Will you offer one plan or a choice of plans? There are many plans for you to choose from and your biggest decision will be whether you want to offer one or a choice of a few for your employees. You will want to explore all of the options available for your area. One main reason employers offer more than one plan is because some employees want a better plan than the most basic plan and others just want something to meet legal requirements.

❏ Will you offer other plans, like dental and vision? You are not just limited to medical plan offerings. If you want, you can offer your employees both vision and dental offering as well.

❏ How much will you pay for? As a business, you MUST pay a portion of the premiums on behalf of your employees, but are not required to pay for dependent cost. You will want to determine what you will pay for before as a company.

When it comes to evaluating group health plans, health plans vary tremendously. The basic comparison factors are relatively simple, though: analyze benefits, price, and providers of any plan.

Providers – This is an important area you should investigate. Traditional insurance plans allow you to choose your own doctor but managed care plans include preferred provider organizations (PPOs), health maintenance organizations (HMOs), and point of service (POS) plans. These plans often restrict your choices of medical services providers to an approved list. The list could prove crucial in deciding whether to enroll in a given plan.

Price – Compare plans with similar benefits to determine which plan offers the best value for your money. Your employer might offer several options from which you could choose. Keep in mind that a) some companies offer a choice between two insurance plans b) some employers can also provide a basic insurance plan, but they allow employees to purchase more comprehensive insurance as a personal option c) and some companies offer multiple insurance plans.

Benefits – You should research the benefits of various plans to find what each cover. Assessing the following benefits will provide practical help in evaluating policies: find out what co-payments are required for outpatient care and inpatient treatment; find out what kind of copayments are required for generic or name brand prescriptions; understand what your deductible options are and how they will affect the insurance premium.

If you live or operate a small business in Redlands or the Inland Empire and want to learn more about health insurance options, contact the health insurance specialists at Bernardini & Donovan Insurance.

Finding an Agent for Small Business Health Insurance Plans

The value of an agent is not an easy thing to summarize. For starters, an agent sells insurance plans for multiple insurance companies, which means they have a variety of options at their disposal. Agents can help ensure that you pick the right small group health insurance in regards to cost, the plan itself, and more.

The value of an agent is likewise apparent when you need answers to questions concerning group health insurance plans and policies. A reputable agent doesn’t just sell you a policy; they explain it in the finest detail so you understand exactly what you are getting for your money. Your agent is the one you contact when you have to file a claim or if you need to update your policy. When the insurance company has questions concerning an accident or health claim, your agent is the one who acts on your behalf to make sure all of your insurance needs are meant.

If you have any questions concerning insurance coverage for a small group of individuals, we at Bernardini & Donovan can answer your questions and help you get the coverage you need.

June 29, 2020June 26, 2020

FINDING A MEDICARE DOCTOR NEAR YOU

MEDICARE DOCTOR

If you’re looking to find a doctor that accepts Medicare near you, you’re not alone. One of the most significant challenges for anyone seeking healthcare is finding a great doctor who is within the confinements of Medicare.

Some great resources exist that might help in this endeavor. If you’re looking for quality advice for your particular health circumstances, Bernardini and Donovan can show you the tools to find the right doctor and the right insurance plan. We offer insurance services in the Inland Empire, including information on Medicare coverage in the Inland Empire.

Today, the B&D team will clarify the differences between Medicare and Medicaid. We’ll also highlight some questions to consider as a precursor to finding the ideal Medicare doctors that suit your needs along with additional resources that might help.

Medicare vs. Medicaid

Medicare is a program aimed to help adults over the age of 65 to receive Medicare Health Insurance. It also provides health insurance for disabled adults under 65 and anyone who has been diagnosed with End-Stage Renal Disease (permanent kidney failure). Medicare is a federal taxpayer-funded program run by the Centers for Medicare and Medicaid Services, a federal government agency, and generally remains the same across the US states.

Medicaid is an assistance program for low-income people of every age. With this program, patients typically do not pay any amount for their covered medical expenses. In some cases, a small copayment is required. This, unlike Medicare, is a federal-state program and varies across the US states as state and local governments run it within federal guidelines.

What Doctor Accepts Medicare

When you hear someone say a provider is a “Medicare doctor,” or that doctor “accepts Medicare,” that generally means that there’s a Medicare-approved doctor available who can agree to accept Medicare Assignment. The doctor (or another provider) agrees to accept what Medicare pays for that service and won’t charge you more than the standard Medicare deductible or coinsurance/copayment. The Medicare doctor also can’t charge you for sending a claim to Medicare.

Many people have health and medical questions and might feel overwhelmed because these are complex topics. Sometimes, you might not even know what questions to ask. At Bernardini and Donovan, we specialize in health and medical insurance services.

If you have questions about Medicare coverage, or you want to know if there’s a doctor who accepts Medicare near you, our team can help! Let’s start by addressing a few things that can hopefully ease the process of finding suitable Medicare coverage near you.

Do All Doctors Accept Medicare

Before jumping into finding a suitable doctor, it’s important to know the following information in advance:

Is the doctor “in-network”?

If you have Original Medicare, you can visit any doctor that accepts Medicare assignments. However, if you have Medicare Advantage (such as an HMO or PPO), you may be required to see in-network doctors in order to be covered.

Out-of-network or non-contracted clinicians are under no obligation to treat Medicare members, except in emergency situations. This means that Medicare coverage near you might be limited. You also may pay more for doctors who are out-of-network, or you might not be covered at all. Also, the costs that you experience for out-of-network doctors may not count towards your out-of-pocket maximum.

Do you have medical conditions you need the doctor to be familiar with?

If you have a rare or life-threatening condition, you may want a doctor who is familiar with it. For example, if you think you may need hospice care in the near future, a doctor with training in hospice care might be a good fit for you.

What plan do you have/How much are you willing to spend?

This is a matter of what you want vs. what you have or can afford. Do you have basic Medicare, Medicare Supplement together with basic Medicare, or a Medicare Advantage plan?

If you don’t know what all of these options mean to you, our Medicare page can help explain these options in more detail.

Finding Suitable Medicare Coverage

Your satisfaction with Medicare may depend upon finding a plan that will help you access convenient and capable doctors. Many of you will also hope to choose coverage that will allow you to keep the primary care doctor that you may already know and trust. Below are some brief rundowns of what each plan consists of.

When a primary care doctor accepts Medicare Assignment, that means he or she agrees to bill Medicare-approved amounts for various healthcare services. You can keep your costs as low as possible by seeking out a primary care doctor who accepts Medicare Assignment. Medicare offers a handy search tool that you can use to find nearby doctors who agree to accept Medicare Assignment and bill Medicare for their share of the bill.

If you’d rather not have to limit your choice of doctors to those who will agree to charge only what Medicare allows, you can consider buying Medicare Plan F or Plan G to supplement Original Medicare. These two supplements will typically cover excess charges, or bills in excess of Medicare’s limits. This benefit can help broaden your choice of caregivers. It doesn’t just apply to first-line primary care doctors but also to specialists. Still have questions regarding different Medicare plans? Our health and medical insurance services in the Inland Empire are designed to help Inland Empire residents clarify health and medical questions so you’re not in this alone.

Finding A Medicare Doctor Near You

Like most people, you probably want to find a likable, qualified, and conveniently-located doctor. This doctor might be the one you see most often, so the best strategy for finding your doctor will depend upon the kind of Medicare insurance you have. We’ve already touched base on the different Medicare plans available, so make sure to take that into consideration, as that might affect your choices.

If you are enrolled in a Medicare Advantage plan, your plan will also provide a directory of Medicare doctors in its provider network, if applicable. If you aren’t sure, call your Medicare doctor’s office and ask whether your plan is accepted before you make an appointment.

If you have Original Medicare, you don’t need to use doctors in a plan network. You can see any doctor you choose. But you can typically save money if you find a Medicare doctor who accepts Medicare payment terms (assignment). You may want to ask the doctor before you make an appointment.

Finding a suitable Medicare doctor is as simple as asking for referrals from friends, relatives, coworkers, and/or neighbors. You can also check with your insurance plan, medical societies, hospitals, and accreditation organizations. Just keep in mind that these resources cannot ensure that a particular doctor is the best one for you, but they do provide information on a doctor’s knowledge and skills.

Medicare Coverage in the Inland Empir

You might still find yourself having questions or concerns regarding your healthcare needs. Understanding Medicare and how to get the best care possible can pose a significant challenge. That’s why we at Bernardini and Donovan strive to help you understand the process, answer your questions, and help you find medicare doctors in your area!

At Bernardini & Donovan, we provide health and medical insurance services in the Inland Empire, so residents in or around the area who have questions can reach out to us for more information!

Don’t hesitate to contact us. There is no additional cost to you, so make sure to utilize our resource of expertise!

June 19, 2020June 9, 2020

What You Need to Know About Group Health Insurance for Small Businesses (Part I)

Purchasing group health insurance as a small business owner can be a rather intimidating task. This is especially true when you try to do it all on your own without any help. However, the process can be made a lot easier and less daunting if you let a professional agent assist you in choosing the right group health insurance plan for your small business.

In this two-part article, Bernardini & Donovan Insurance Services will break down what you need to know about group health insurance for small businesses. We’ll discuss what a small business is considered, why group health plans are important, some of the types of health insurance plans offered by small businesses, employer-sponsored health plans and things to consider, and finding an appropriate health insurance agent for you and your business.

There are a number of variables to consider when purchasing group health insurance. While there are many business insurance options available, your selection will be determined by your needs. That’s why we’re going to discuss important variables such as: determining whether your business is considered a small business or a large business; the health insurance plans available for small businesses; ideal plans based on your business; and more.

In this first part, we’ll be focusing on small businesses versus large businesses, why group health plans are important, and the types of health insurance plans offered to small businesses. In the next article, we’ll address employer-sponsored health plans (and things to consider) and how to find an appropriate health insurance agent for you and your small business.

Small-Group Employer vs. Large-Group Employer

As a small business owner, one of the most important considerations that you have to make will deal with the type of insurance that you offer to your employees. But, how do you know if your business is considered a small group employer or a large group employer?

The Affordable Care Act divided employers into two categories: small group and large group. There is a general dividing line at 50 full-time employees or equivalents, although there are some benefits specifically aimed at businesses with 25 or fewer full-time employees. A business that employs 50 or less full-time employees falls under the small group category. However, the full-time employee doesn’t necessarily have to be one individual.

A business can have as many part-time employees as it wants as long as the equivalent number does not exceed 50. In other words, an employer can have four part-time employees working ten hours a week for a total of 40 hours worked. These four people working a total of 40 hours collectively, is calculated as one employee. There can be any variation on this theme to qualify for the small group coverage as long as the sum total is no more than 50 full-time employees.

A full-time employee or equivalent is an employee who averages at least 30 hours per week or 130 hours in a calendar month. You must calculate your hourly worker’s service hours based on hours worked and hours of earned paid leave.

If you run a small business with two to 20 employees and are looking for guidance for your small business’ group health insurance, Bernardini & Donovan Insurance Services can offer the best and most cost-effective business insurance plans around. We’ll help cut through all of the confusion and unnecessary information so that you can have the peace of mind that comes with knowing that your employees are well protected in the event that something unfortunate should unexpectedly happen.

The Importance of Group Health Plans

In our healthcare perks article, the B&D team talked about how small businesses can attract talented employees through better healthcare perks. It’s no surprise that modern employees are extremely savvy about the bonuses that come with a job. Gone are the days when salary used to be the major competing factor in attracting new talent! Today, it’s as if everything is about healthcare, child care, continued education, retirement accounts, and other related perks.

This is great for both employees and employers. For employees, they can acquire more value than they could in a straight cash salary. For employers, companies can take advantage of a variety of tax incentives and breaks to provide these bonuses and remain competitive.

When it comes to establishing the ideal health insurance plan for your small business, consider how your plans benefit your employees.

Vision, Dental and Prescription Services. Though they may be optional, offering vision, dental and prescription services is not expensive and will go a long way towards showing employees that your business is concerned about their health. There’s also another benefit — providing vision, dental and prescription service makes it less likely that employees will go without care, damaging both their own health and their productivity. Mental health services and substance abuse services offer similar benefits.

Flexible Spending Accounts. Both health care flexible spending accounts and dependent care flexible spending accounts are extremely important perks for modern businesses. Employees will be able to set aside money in a tax-advantaged account, much like an IRA, to be used on both their own medical expenses and their child’s or other dependents. Many executive employees and other financially savvy employees specifically look for the flexible spending account option, as it makes more sense to them and will result in more money being acquired by them overall, as they can put tax-advantaged funds towards their medical costs.

Employee Health Programs. In addition to health insurance, employers can create health programs that promote good health to their employees. Many employees specifically look for these programs when they are learning about a job opportunity. Employee health programs can include everything from healthy provided snacks to an on-site gym, depending on your company’s budget.

Employers can look to their health insurance agency to find out more about what they can do to attract the best up-and-coming talent to their business.

Types of Health Insurance Plans for Small Businesses

Business Health Insurance Don’t: The “One Size Fits All” Plan. No two employees are the same, this has never been more true than when you begin to take their health into consideration.

Each employee (and their respective family members) will have their own unique considerations, which is why it is important to not opt for a “one size fits all” plan. Instead, engage your employees and take their feedback into consideration.

Try to find a plan that you can customize to fit the needs of the group instead of trying to force the needs of the group to work within the confines of the plan that you’ve selected after the fact.

Health Savings Accounts. One type of business insurance that has become increasingly popular over the last two decades is the health savings account (or HSA).

For individuals who are enrolled in an HDHP (or “high deductible health plan”) they can open a medical savings account with a number of tax advantages that they wouldn’t get from other types of plans.

Deposits into the account can be made by either the employee in question or by the employer and can be made on a pre-tax basis. The money in the account is then to be used to pay for things like medical bills and other unforeseen expenses related to their health.

One of the primary advantages is that the money continues to roll over each year and does not “expire” in the event that it goes unused for any specific period of time.

Finding Affordable Health Plans for Small Businesses: Bernardini & Donovan

When it comes to educating one’s self on group health insurance for small businesses, there’s a lot of information to consider. Remember that this is the first of a two-part article geared towards group health insurance plans. The goal is for small businesses to feel more confident when it comes to finding a service that suits them and their employees.

Just because you own a business doesn’t mean you should lose money trying to pay group health insurance for your employees. You can find the insurance coverage that works for your company’s budget while letting your employees have the health insurance program they need to stay healthy. If you want to jumpstart the process, feel free to browse the insurance products offered through Bernardini & Donovan Insurance Services.

The B&D team is here to help you find a suitable and affordable healthcare plan as a small business owner. We believe that you should find a healthcare plan that suits you and your budget, and we want to help.

Contact Bernardini & Donovan Insurance Services if you’d like guidance through the process of selecting the appropriate group health insurance for your business. We can help you make the right decision, and we have the right tools to help you find the perfect plan(s) for your employees as well as for your business.

We discussed the difference between a small-group and a large-group, the importance of group health plans, and some of the different types of health insurance plans that could be offered by small businesses. On the next blog, we’ll consider employer-sponsored health plans and how to find an appropriate health insurance agent.

May 6, 2020July 29, 2020

Do You Need Your Own Health Insurance After 26?

Many have wondered what to do about health insurance after they turn 26. For many young adults, you might also wonder: Can you stay on your parent’s health insurance after 26?

With the spread of COVID-19, health care is more critical now more than ever. One shouldn’t skip health insurance to save money simply because they think that they’re young and healthy…that mindset could be misleading and ultimately dangerous. The fact of the matter is: Sooner or later, everyone needs health insurance. So, what options are available when it comes to finding health insurance for 26-year-olds?

If you’re 26 and need health insurance coverage, we at Bernardini & Donovan can help. We offer health and medical insurance services in the Inland Empire and are happy to assist individuals who have questions about health insurance for 26-year-olds.

Being properly informed about health insurance might not be the first thing on the minds of young adults. And it could be easy to overlook those conversations if someone is on their parents’ health insurance plan. But, once adulting kicks in, graduating, moving out, getting a job, and turning 26–it’s important to consider what health insurance options exist for you.

Can You Stay on Your Parents Health Insurance After 26

If you’re under 26, you may be able to get covered on a parent’s health insurance plan. This applies to you even if you are at school, not living at home, eligible for an employer’s plan, or not financially dependent on your parents. It even applies to you if you are married. However, after you turn 26, things change.

The Affordable Care Act, also known as Obamacare or the ACA, opened the door for many people to get health insurance who previously didn’t have access. A provision of the law allows young adults to stay on their parents’ health insurance until age 26. As a result, millions of young adults became eligible to have health insurance on their parents’ plans who wouldn’t have qualified otherwise.

This, however, this means you need to start considering options for health insurance before your 26th birthday because your coverage on your parent’s plan ends, and eventually you do need your own coverage.

If your 26th birthday is right around the corner, you might have a lot of questions to consider, especially if you’ve never had to purchase your own insurance and if you’re struggling financially.

The marketplace. Bernardini & Donovan is a Certified Agent of the Health Insurance Marketplace. We can help you independently compare health insurance plans based on what’s important to you. We are a storefront for the Marketplace and that means we offer capabilities beyond ordinary agents. Our experts will explore if you can get lower costs on your monthly premium and if you qualify for lower out-of-pocket costs. For those who are on a budget, you’ll also find out if you qualify for free or low-cost coverage available through different sources.

Applying for coverage. After you select the plan that is right for you, our team will guide you through the application process. You’ll need your income information, ID, proof of citizenship or lawful presence, social security information, and ZIP code.

Regardless of when your parents’ plan ends your coverage, if you’re 26 and need health insurance, you’ll have a 120-day special enrollment window in which to buy a new health insurance policy on the marketplace for ACA plans. During this time, which begins 60 days before you turn 26 and ends 60 days after, you can purchase a new medical plan. If you are buying an individual plan that is not on the ACA marketplace, you have 30 days after you turn 26.

While talking about health insurance could be intimidating, there are also practical resources available for assistance. If you’re in the Riverside area or surrounding areas, the Bernardini & Donovan team can offer health insurance guidance. Receiving assistance on these matters might benefit you especially during the recent pandemic where there are heightened concerns surrounding people’s health.

What to do About Health Insurance After 26

Now that it’s established whether or not you can stay on your parent’s health insurance plan after turning 26, what are your options? When you’re ready to purchase your own health insurance, you have several options. You can enroll in a health insurance plan offered by your school or you can speak to someone in Human Resources about enrolling in a healthcare plan provided by your employer.

Student health insurance: If you’re attending a college or university, you may be able to enroll in that school’s student health insurance plan. These plans tend to be relatively inexpensive and are a good option if your parents don’t have health insurance, you don’t want to stay enrolled under their plan, you’re 26 and need health insurance or other reasons.

You can find out if your school offers health insurance options by poking around your school’s website or calling the financial aid office.

Employer health plan: If your employer offers coverage, it’s a good idea to look at what they offer.

Keep in mind that you don’t have to wait until you’re 26 to enroll in one of the health insurance plans offered by your employer. Depending on where you live and what you can afford, the coverage your employer offers may suit your situation better than your parents’ insurance plan.

Short-term health plans: Health plans that last less than a year can help you bridge the gap until you enroll in a regular health plan. Just keep in mind that short-term plans won’t provide the same comprehensive coverage as a traditional insurance plan and are best only in case of a major medical event.

Nonetheless, this option might be the most feasible for those who don’t know what to do about personal health insurance, aren’t sure about their finances, but still need coverage.

26 and Need Health Insurance? You’re Covered

At Bernardini & Donovan, our job is to simplify your health insurance needs. With our health insurance services, you can enjoy the peace of mind knowing that you have health insurance.

Now more than ever before, the issue of healthcare has been thrust into our everyday lives. For a lot of people, the more you hear about the issue of healthcare, the more complicated it appears to be.

With more than 30 years of experience in the health insurance field, the Bernardini & Donovan team is proud to have established long-lasting and trusted relationships with all of the major carriers throughout California and Colorado.

If you’re 26 and need health insurance coverage, or you’re no longer on your parent’s coverage and have questions on what to do, Bernardini & Donovan Insurance Services has the answers to any questions you may have.

March 17, 2020March 12, 2020

Employee Life Insurance

Life insurance serves as a safety net to the dependents of an employee in the case of their death. This is especially necessary for those who have families that rely on their income for support. And most often, such assurance is built through one’s employer. That’s why, for most job seekers, they require that their future employer offers life insurance .In this article, we will discuss the different types of employee life insurance and ways that it can be purchased.

Many employers offer basic life insurance to their employees as part of their benefits package either for free or at a very low cost. This is typically a predetermined, fixed amount that usually equates to the employee’s salary. For most people, if they are single and have no dependents, this initial amount is plenty, and they are unlikely to purchase more coverage. However, most companies provide the option to buy supplemental life insurance for whoever requires it– typically those with children.

The benefit of offering employee life insurance:

Providing life insurance to potential employees will attract talented professionals and make your business stand out as a preferred employer. That’s because job seekers everywhere hope to have peace of mind in the case of their death and assurance that their loved ones will be financially cared for. This financial cushion for the employee’s survivors is an essential aspect of their benefits package. So, keep in mind as an employer, that not only will providing life insurance be attractive to potential employees, but it may be expected as well. Life insurance, however, is not offered in one fixed way. There are a variety of means for providing life insurance to employees.

Ways to purchase employee life insurance:

Term Life Insurance– This is the simplest way to buy life insurance as it does not involve an investment component. Most financial advisors will recommend opting for this variety as it is uncomplicated and sufficient for the needs of most employees. Term life insurance suggests that the employer of the insured pays a monthly, quarterly, or annual fee for the agreed-upon amount of coverage. While no investment or cash value will accumulate or build in this type of insurance policy, the account is paid in full back to the survivors upon the death of the employer.

Short Term Life Insurance– These policies work like term life insurance, with the exception that they have a time limit of some sort. In some facets, the premium fee increases gradually with the age of the employee. In others, there is an expiration date, typically at the age of 70.

Permanent Life Insurance– These types of policies build gain value over time and tend to be more expensive. And especially older patients will need to pay a significant premium fee for their benefits. There are various types of permanent life insurance plans. The most common, however, are whole life, variable life, and universal life.

Types of Permanent Life Insurance:

Whole Life Insurance– This type of insurance is considered an investment because it will accumulate money that can be withdrawn in the case of an emergency. As long as you pay the premium, it will cover you for your entire life. However, you can initiate the end of the policy if you choose to cash in on it before you die. Despite this potential perk, most experts would not consider this a particularly good investment as the rate of return is typically pretty small.

Variable Life Insurance– This, like any policy, will provide money to an employee’s beneficiaries when they die. It is referred to as variable because it allows the insured to distribute the premium paid to a separate account, which could be composed of multiple investment funds. These could be a stock fund, money market account, or a bond fund. The value of this policy will depend on one’s investments, in addition to the minimum required by the insurance company.

Universal Life Insurance– This facet comes with a savings component that builds on a tax-deferred basis. So, a part of the employee’s premium will be invested by the insurance company in bonds, mortgages, and money market funds. And this return rate from these investments will be awarded to the policyholder on a tax-deferred basis. But, despite the performance of the company’s investments, the employee will still receive a minimum return of 4 percent.

Employee life insurance, among all company-provided health benefits, is appreciated and sought after by job seekers everywhere. In fact, in most cases, it is expected and necessary, especially among those with several dependents. So, as an employer, be sure that you can offer your employees and future team members the peace of mind that life insurance brings. If you have any concerns or questions regarding this subject, please do not hesitate to reach out to us at Bernardini and Donovan. Our team of experts is prepared to assist you as you prepare to offer your employees life insurance!

March 5, 2020March 5, 2020

Covered California Deadline Extended

Covered California Deadline Extended In a meeting just recently, Covered California has elected to extend the open enrollment period, which ended on January 31, 2020. This new special enrollment period will allow anyone, not just those who would generally qualify for special enrollment, to enroll in health insurance plans until the end of April. Policies will be effective April 1, if you enroll on or before March 15. Or, the policy will be effective May 1, if you enroll between March 16 and April 30. This means that instead of waiting until the new enrollment period of October 2020, anyone in California who does not currently have health insurance can sign up through the healthcare system.

Why This is Important to You

If you do not have health insurance coverage right now, you could be at risk for a fine on your taxes for the 2020 year. California has elected to enact a penalty for all of those who do not have health care coverage during the 2020 year. When you file your taxes in 2021, you will be required to pay a total of $695 per adult or 2.5% of your annual income, whichever is higher, in fees for not having the required health insurance coverage (separate fees apply for families and children).

If you do not currently have health insurance, you should consider applying for a policy during this new enrollment period. No one will be exempt from the fee if a policy is not selected and paid for by the new April deadline. This means that you could be paying a large amount of money for not having the required coverage, or you can get help to sign up now and get the coverage that you need to protect yourself and your family.

It is important that you reach out to an insurance rep if you do not currently have a health insurance plan to take advantage of this new period and take up the opportunity to sign up for a new plan in order to avoid the penalties that will otherwise be imposed.

Who is Eligible?

All those who did not know about the fee/penalty for not having healthcare coverage over the 2020 year (known as the Individual Shared Responsibility Penalty) are eligible for this enrollment period. Likewise, anyone who previously purchased an off-exchange plan but has now determined that they would like to buy an on-exchange plan will be eligible to do so during this enrollment period. Effectively, everyone in California is eligible and may choose to purchase a plan through the exchange without a penalty or any of the named exemptions that would typically allow for a Special Enrollment Period.

Why This Period is Available

Covered California has chosen to reopen the enrollment period for California residents because of the new fees that are being imposed. Information about the new fees that will be levied against residents on your 2020 taxes were explained, however, they feel that the explanation was not sufficient and too many people within the region do not realize that they could be at risk of being charged these fees on their taxes in the coming year. As a result, Covered California has decided to give all residents another chance to get enrolled and avoid paying fees.

Also, Covered California felt that the enrollment numbers were far lower than what was expected for this year, especially with the implementation of the enrollment requirement and the penalty for lack of 2020 coverage. As a result, and because of the penalty to be imposed, they have decided to allow more people the opportunity to enroll in the plan. If you have not yet enrolled you should seek out help to take advantage of this period to make sure that your family has coverage for the 2020 year and that you will not be required to pay the penalty. If you do not select coverage, there is no exemption for this penalty for 2020

What You Need to Do

You should contact your current insurance agent (or, if you don’t have one, reach out to us) and work with them to enroll in healthcare coverage as soon as possible. This enrollment period is set to last only until April 30, 2020. If, however, you choose not to take advantage of this special enrollment period, you will likely be charged fees of $695 per adult or 2.5% of your annual income for not being enrolled in a required healthcare plan.

Make sure that you are looking into a healthcare plan as soon as possible that will provide you with the type of coverage that you and your family needs for the 2020 year. These plans can be purchased through Covered California. They will provide you with at least the level of coverage required to avoid a penalty under the new individual mandate enacted by California for the 2020 tax year. If you do not purchase a plan through Covered California, you may be held liable for the penalty

How This Enrollment Period is Different

This Special Enrollment Period is different from a standard one because it is available to all residents of California. A normal Special Enrollment Period is available only to those who meet specific guidelines. Those who have lost their group coverage moved to a new state, lost coverage because they no longer qualify for Medi-Cal, and other similar situations are eligible to enroll in health insurance at any time under a Special Enrollment Period. This one, however, has been enacted by Covered California.

Covered California has determined that every resident of California who does not currently have a health insurance plan and health insurance coverage for the 2020 year is eligible to enroll right now. Please note that this is only available until April 30, 2020. Those who do not enroll during this period will be charged the penalty when you file your 2020 taxes in the coming year.

Feel free to reach out to us to get a healthcare plan that works for you. We can help you find out more about the different insurance options and which plan will be best for you and your family. Even more importantly, you will be able to avoid any penalties on your 2020 taxes while keeping your family protected.

For all of your health insurance inquiries and concerns, do not hesitate to contact us at Bernardini and Donovan. We are here to advise the health insurance requirements of yourself, your family, and your small business. Contact us today for expert counsel!

February 14, 2020February 26, 2020

How Presidents Have Changed Health Care Over the Years

With ever-increasing health care costs, insurance is a popular topic for discussion among today’s political leaders. And as the 2020 presidential election quickly approaches, we can anticipate heated debate over the subject in this upcoming year. That’s because, since 1853, presidents have had a significant stake in the matter of health care and insurance. Despite the subject’s complexity, leaders of the 20th and 21st century have fought for reform, new and old ideas, and continue to strive for improving the healthcare system for the American people. So, as we look toward the near future and the potential changes to come, let’s take a look back in history. How has health care and its surrounding policies changed over the years? In this article, we’ll take a look at how past presidents have made changes to our health care and insurance systems over the years.

Meaningful ways past presidents have impacted health care:

Franklin Pierce, who became president of the United States in 1853, was the first to take action on a healthcare issue when he vetoed Congress’s “Bill for the Benefit of the Indigent Insane.” The bill called for land and resources to be set aside for those in poverty and who were mentally ill. It also covered individuals who were blind and deaf. However, Pierce opposed the bill, arguing that the government should not be involved in social welfare issues.
In 1901, Theodore Roosevelt became the 26th president and the first to attempt healthcare reform. He proposed the idea for a national healthcare system. However, it was during his failed 1912 reelection.
The next Roosevelt to take office in 1933 also proved enthusiastic in establishing national health care, though he too was unsuccessful. Franklin Roosevelt, the 32nd US president, fought to include mandatory health insurance in the Social Security Act of 1935. However, with the strong opposition of the American Medical Association, he stopped fighting for the issue for fear that the entire bill would not be passed if this issue was not dropped. Roosevelt also supported the Wagner National Health Act of 1939, which included a national health insurance mandate. This, too, failed to pass, however, without the support of conservative members of Congress.
The 33rd president, Harry Truman, was in support of national health insurance. However, the Cold War, which spanned his presidency, hindered his efforts for reform. That’s because his proposition of national healthcare was equated with and publicized as soviet-style communism by its opponents.
Lyndon Johnson took office in 1963 and, during his presidency, made significant changes to the Medicare and Medicaid programs passed in 1965.
Richard Nixon became the nation’s 36th president in 1969. His presidency extended Medicare when he signed the Social Security Amendments of 1972. This benefited those over 65 years old who were severely disabled or who suffered end-stage disease, making them eligible for Medicare.
Jimmy Carter, inaugurated in 1977, supported mandatory and universal health insurance that could be issued through the existing system of private insurance. He also proposed the ultimately rejected Hospital Cost Containment Act of 1977 and the Child Health Care Assessment Program.
Bill Clinton, who took office in 1993, strove to understand the reason for the nation’s rising health care costs and how to solve the growing issue. The result of his ambitions was the Health Security Act. This required employers to provide health insurance to all employees. However, it was not passed by Congress.
Barack Obama. In our most recent memory is the 44th president’s Patient Protection and Affordable Care Act. This plan aims to cover all Americans with affordable health insurance.

Health care reform is a complicated subject, and making significant changes often spans decades and presidencies. The process is slow, repetitive, and takes no simple solution. So, in this upcoming presidential election season, be sure to know where you stand on this complicated subject.

If you require counsel on the subject of your own health care insurance, do not hesitate to reach out to us at Bernardini and Donovan. We are here to address your questions and concerns as you choose the plan that’s best for you! Call on us today for a healthier 2020.

January 29, 2020February 14, 2020

7 Important Women’s Health Screenings You Should Prioritize

Maintaining one’s good health takes commitment to a few critical habits.

While you may be well aware of the benefits of eating nutritious foods, getting regular exercise, and making time for rest, be sure not to overlook regular visits to your doctor as well. With routine screenings and checkups, you can detect problems early on to receive proper treatment. In this article, we’ll discuss seven critical health screenings that women should prioritize for the benefit of their good health.

Seven health screenings to prioritize:

Blood pressure screening. According to the American Heart Association, the ideal blood pressure measuring is 120/80 or below. So, if you maintain this healthy blood pressure, it is recommended that you have it checked at least once every two years, beginning at the age of 20. However, if you are at a higher risk of hypertension, you are 40 or older, African American, or suffer from a chronic condition like obesity, then an annual screening is encouraged.
Cholesterol check. A cholesterol check is an assessment of your risk for heart disease or stroke. It is recommended that adults older than 20 to have this measured at least once every five years. However, if you pose a higher risk for these conditions, be sure to ask your doctor about the frequency at which you should have this checked.
Pap smears. This critical exam takes cells from your cervix to check for cervical cancer. It is recommended that women get a pap smear exam every three years after the age of 21. And after 30 years of age, you can get this done just once every five years if it’s combined with a screening for HPV– an STD that can lead to cervical cancer.
Mammograms. These take an x-ray image of the breast to screen for cancer. And while these are exceptionally important, there is debate over the frequency at which a woman should undergo a mammogram. That’s because while the risk for breast cancer increases with age, false positives are common with frequent screenings. However, the most recent guidelines suggest women begin at 50 years old to have a mammogram screening every two years. If you have a family history of breast cancer, though, talk to your physician about more frequent screenings.
Bone density screenings. Women are especially prone to suffering from osteoporosis. And so, they should receive a bone density test at age 65. If you display risk factors, including fractures and low body weight, then you might consider getting screened earlier. The frequency of tests should be determined by your doctor, depending on your bone density and risk factors.
Blood glucose test. After age 45, women should receive a blood glucose test every three years. This checks for diabetes and prediabetes. You might consider getting these tests done at an earlier age if you are at a particular risk for these diseases. If you are obese, have a family history of diabetes, or are a race or ethnicity that is at higher risk, you may need to have more concern for your blood glucose level. Speak with your doctor to help you plan.
Skin examination. No matter your age, the American Cancer Society recommends that women should examine their skin every month at home. Each month, be sure to check for moles or changes to existing moles. These could be early signs of skin cancer. If you have a family history of skin cancer or you are at an increased risk, it may be necessary to talk with a dermatologist about routine office visits.

We at Bernardini and Donovan aim to help you and your family members stay healthy. That’s why we encourage your routine doctor’s visits and physical exams. These will help you stay healthy and promptly get the medical attention you require. And in the instance that you need more than routine checkups, make sure that you’re adequately insured. Reach out today for assistance with your health insurance needs.

December 10, 2019January 27, 2020

Small Business Healthcare Tax Credit

Health Tax Credit

Itâ€™s been said once or twice before, sometimes, great things come in small packages. And in recognition of the value of your small business, we have a word of good news for you. In the upcoming tax season, you may receive some tax alleviation for merely being small. As an owner, you can count your healthcare expenses as a business expense. So, while there are a few requirements and some restrictions, you might be looking forward to a tax break next spring, thanks to the Small Business Healthcare Tax Credit.

What is the Small Business Healthcare Tax Credit?

The Small Business Healthcare Tax Credit, included in the Affordable Care Act, benefits small employers who provide health coverage to their employees. This could be worth up to 50 percent of costs paid in employeesâ€™ premiums, or 35 percent for non-profits. With this new addition, it pays to be small and to care for your employees.

Requirements to qualify:Â

Generally, the only way a small business or non-profit can claim the Small Business Healthcare Tax Credit is by enrolling in theÂ Small Business Health Options Program (SHOP). And to qualify for this program, a business must: a

Have fewer than 25 full-time employees
Pay an average salary to the employees that is less than $51,600 per year. This does not apply to the ownerâ€™s salary.
Pay at least 50 percent of their employeesâ€™ health insurance premiums
SHOP coverage is offered to all full-time employees
- As an employer, offering this coverage to employees who are considered part-time, is optional and not required as it is for those working full-time.

The smaller your company, the bigger the credit. And the benefit is highest for companies with fewer than ten employees paid under $25,000. There are some restrictions, however.

Limitations:Â

The 50 percent tax credit represents the maximum credit available to a business. However, this credit will be reduced under certain circumstances as some small employers might not qualify for the full amount. These circumstances are listed below:

The employer has more than ten full-time equivalent employees
The annual wages of the businessâ€™s full-time employees exceeds $25,800 in the years 2015 or later
The companyâ€™s health insurance premiums are higher than the average amount paid in premiums in their geographical area

It is also important to note that there are no tax credits for the owners of the business. This means that small businesses can not receive credit for insurance premiums paid on the ownerâ€™s behalf. â€œOwnersâ€ include owners of corporations, partners in partnerships, and sole proprietors. Additionally, there is no tax credit available to employees who own more than five percent of a C corporation and those who own more than two percent of an S corporation.

Flexible Credit:Â

The tax credit can be applied forward or back to other tax years. So, letâ€™s say a small business didnâ€™t owe any money in taxes one year but did a year prior. That company would be able to apply their credit to their balance and still receive the benefits. Similarly, an employer could carry their credit forward in expectation of tax liabilities in the coming year.

While there are manyÂ incentives to offer health insuranceÂ to your employees, as a small business owner, you may feel financially unable to do so. Thatâ€™s why this tax credit aims to assist small businesses like yours to ease such steep healthcare costs. If you are interested in offering health insurance to your employees but donâ€™t know where to begin, reach out to an experienced health insurance professional. We at Bernardini and Donovan are here to advise each of your questions and concerns for this endeavor.Â Call on usÂ today!

December 5, 2019December 5, 2019

What Are Your Options During Open Enrollment:

Insurance Enrollment Tis the season for giving thanks, festive gatherings, and open enrollment! This is the time in which you have the option to either make changes to your health insurance plan or to switch it out with a new one. So, as we approach 2020, be sure to evaluate your healthcare needs, your coverage plan, and your available options.

When is Open Enrollment?

The period in which open enrollment takes place depends on how you get your insurance. For Medicare recipients, open enrollment spans October 15th to December 7th. Individual plan enrollment extends between November 1st to January 31st. However, if you’d like for you plan to be effective on January 1st, you must enroll by December 15th. Medicare begins from October 15th until December 7th. And if your employer covers you, this period varies and depends on your company.

If you are covered by the Affordable Care Act (ACA), open enrollment is dependent on your state. So if you live in California, this period spans from November 1st until January 31st. Finally, if you are eligible and would like to opt for Medicare or the Children’s Health Insurance Program, you can enroll at any time of the year. See if you qualify for either of these programs here.

Your Health Insurance Options During Open Enrollment:

Renew your current policy if needed. You have the option to keep your current health insurance if you are satisfied with your coverage. In this case, you may not need to do anything during open enrollment. However, be sure to look out for any changes to your policy. In the case of modifications, consider how they might affect your particular coverage needs. And if you find that you do require change, open enrollment is the ideal time to do so.
Buy an individual plan. You can do this through a marketplace or via an individual policy provider. If you decide to sign up on the marketplace exchange in California, you must qualify for the tax subsidies that will assist in paying for your premiums. Your family size and income determine your eligibility for this.
Make changes to an employer-based group plan. Most people are insured through their employers. In this case, open enrollment will not affect you. That’s because this season will only pertain to the government-run marketplaces and the Affordable Care Act plans. However, you will need to sign up or renew your coverage during the particular time in which your company has its own open enrollment. Each company will have its own specified renewal dates. Your responsibility at this time is dependent on the policies of your employer. Some will automatically renew your coverage every year, while others will ask you to sign up each time. Also, keep in mind that employer health care providers change with some consistency, so make sure you know what you’ll receive with each change.
Change your medicare plan. If you’d like to opt for different coverage within your medicare plan, do so during open enrollment (from October 15th to December 7th for medicare.) The open enrollment period that is specific to government-run marketplaces will not affect you.
If you are not satisfied with the health coverage plan you initially selected, there is one more opportunity for you to make changes to your plan. This comes during the year’s final open enrollment, happening January 1st until March 31st.

Open enrollment and all things insurance are a common source of holiday headaches. But don’t let the complicated slew of options get you down this season. For all of your insurance inquiries and needs, do not hesitate to call on us at Bernardini and Donovan. We are experts in health care coverage and are here to care for you and your family. Reach out today!