human-resources

What is QSEHRA

Employee Benefits, Health Care, HR, Human Resources, Insurance, Health Care Cost

With the anticipation of the January 2020 launch of the new Health Reimbursement Arrangement (HRA) option, called the Individual Coverage Health Reimbursement Arrangement (ICHRA), it is important to take a look at its precursor — the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA).

In February 2019, the Society for Human Resource Management (SHRM) shared data from 2018, which disclosed information from the National Business Group on Health. Statistics showed the average annual health plan premium for employer-based family coverage had risen 5% to $19,616 and 3% for single coverage, for a total amount of $6,896.

Such dramatic increases in healthcare costs make it challenging for employers and employees to manage, but it is vital that both do so to maintain good health for each individual and for the business itself.

Since the challenge has become so great over the past few decades, HRA plans offer dutiful employers new ways to provide health insurance benefits to their employees.

by Chris Freitas

A Guide to HRA Rules with a Focus on the HRA Final Rule and ICHRA

Employee Benefits, Health Care, HR, Human Resources, Insurance, Health Care Cost

Providing quality health insurance at an affordable price remains a vital concern for employers, employees, and providers. Leaders continue to search for options to fit the broad variety of needs and specific circumstances of involved parties.

Health Reimbursement Arrangement (HRA) options have become increasingly popular over the past decade. Perhaps one reason why business leaders appreciate this flexible option is that it helps save money while offering an increasing number of expansions.

These expansions address the issues challenging modern employers who want to help employees maintain good health and well-being while still maintaining their own budget and making sure it’s affordable for all employees. With varied HRA rules and extensions, it isn’t too surprising that HRAs are set to increase more than 50% from 2017 to 2020.

With new HRA options come new HRA account rules. The new HRA rules, coming in 2020, have created the Individual Coverage Health Reimbursement Arrangement (ICHRA) and the Excepted Benefit HRA.

Let’s take a closer look at the Final Rule, ICHRA, and some HRA essentials.

by Chris Freitas

What Is ICHRA and What Does This HRA Expansion Plan Mean?

Employee Benefits, Health Care, HR, Human Resources, Insurance, Health Care Cost

Employers continue facing challenges in providing quality healthcare options for valued employees. Between out-of-control health insurance costs, reduced employee retention, and ACA non-compliance, employers need meaningful alternative options in healthcare.

Dutiful employers have sought solutions in traditional and non-traditional healthcare options with varying degrees of success, but a potential game-changer lies on the horizon.

The Individual Coverage Health Reimbursement Arrangement (ICHRA) becomes available in January 2020 to businesses of all types and sizes, offering new hope to employers in providing high-quality, affordable healthcare to employees.

by Chris Freitas

What is a Captive?

Employee Benefits, Health Care, HR, Human Resources, Insurance, Health Care Cost

Has your organization brought up the possibility of joining a captive insurance company? Perhaps your executive team wants to hear about options from you and your HR staff, but you need more information. Read below to get your most pertinent questions answered.

by Chris Freitas

What is a MERP?

Employee Benefits, Health Care, HR, Human Resources, Insurance, Health Care Cost

Smart business leaders and diligent human resource teams stay alert to alternative health plans to better serve their employees’ healthcare interests and their own organizations’ budgets. Employers continue to search for comprehensive yet affordable ways to provide health insurance for their valued employees.  

Employers are increasingly considering options, such as a medical expense reimbursement plan (MERP), which offers businesses a tax-free benefit, rather than the traditional benefits route, such as group health insurance. 

by Chris Freitas

When is a Good Time to Self Fund My Plan?

Employee Benefits, Health Care, HR, Human Resources, Insurance, Health Care Cost

The ongoing state of health insurance plans has organizational executive teams and their HR program leaders searching for new solutions. They want to see end results that promise financial savings for everyone while also offering better healthcare value for employees.

by Chris Freitas

When and How Should I Exit My PEO?

Employee Benefits, Health Care, HR, Human Resources, Insurance, Health Care Cost

Engaging a professional employer organization (PEO) — sometimes known as an employee leasing service — has become an important strategy for small and mid-sized businesses (SMBs) across the United States over the past three decades. With 907 PEOs in the U.S. employing 3.7 million people, PEOs have become a reliable staple in the business world, helping more than 175,000 SMBs enjoy impressive rates of growth in brief time frames.  

by Chris Freitas

AI in HR

Human Resources, Technology

Artificial intelligence is pushing humans and machines closer together.  It’s exciting!  AI’s influences are being felt across the HR space… being used to automate business processes, enhance efficiency, and reduce bias among other things.  In fact, McKinsey’s latest forecast of AI’s impact on the global economy is that it will generate $13 trillion in economic activity across the globe by 2030.

by Mike Radakovich

KBI + Rippling vs Gusto

Human Resources, Information Technology

You invest your time and energy into building your company and when success takes off for you, you need to align yourself with partners who can and will grow with you. We are proud to say that KBI has recently joined forces with Rippling, a full-service HR and IT company that can serve you as you grow from 1 to 1,000 employees.

by Chris Freitas

Top 5 Learning Metrics to Watch

Employee Training, HR, Human Resources, KBI Blog, Education

How much job training equates to time wasted:  About 20%, according to one LinkedIn study.  That’s the percentage of learners who never apply their training to their job.  That same study says 67% of learners apply the lessons learned, but in the end, revert to previous habits.  Another study found 45% of training content is never applied.

by Mike Radakovich