Health Insurance Resource: Defined Contribution Health Plans

Eide Bailly Employee Benefits, an industry leader in defined contribution health plans, has announced its fully integrated online defined contribution solution. The Eide Bailly private exchange will provide a simple but complete exchange solution which includes a benefits enrollment system, integrated with pre-tax reimbursement accounts.

The Eide Bailly private exchange was designed through the partnership of Eide Bailly Employee Benefits and Evolution1, the nation’s largest cloud computing healthcare solution for employee benefits. As frontrunners to design a comprehensive exchange, Evolution1 and Eide Bailly Employee Benefits have created the Eide Bailly private exchange solution to provide innovative employee benefits solutions for both employers and employees.

With the Eide Bailly private exchange, human resources, benefits and payroll procedures are simplified making the enrollment and administration of multi-carrier plans stress-free. The private exchange solution is executed and maintained by Eide Bailly Employee Benefits. Clients gain high-quality technology, an efficient enrollment method, and exceptional service, with Eide Bailly’s private exchange.

To learn more visit our website.

Incarcerated Employees on Work Release

Specific and unique questions about Health Care Reform’s impact on businesses continue to come up. Today, our topic of conversation surrounds incarcerated individuals on work release from prison. Is the employer required to offer insurance to employees on work release and their dependents? The Kaiser Family Foundation published an article in April 2010 stating, “Qualified individuals include U.S. citizens and legal immigrants who are not incarcerated, and who do not have access to affordable employer coverage”. In short, the answer is no, an employer will not be subject to a penalty unless that individual gets a subsidy off of the exchange. Incarcerated individuals are not allowed to use the exchange.

What is an Exchange?

An Exchange is a marketplace for individuals and small businesses to shop for insurance. These exchanges will offer a choice of standardized health plans and allow consumers to compare plans based on price and needs. The Exchanges are intended to provide a more competitive health insurance marketplace and provide consumers with a neutral party to assist with plan enrollment, information, and eligibility determination for any subsidies.

Click the below link to view where States are at in the development of their Exchanges.