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Employers are naturally concerned about their rising healthcare costs, and are always looking for ways to cope with this ongoing situation.  While Fall River helps its clients create year-round strategies to address costs over the long term, some employers need some short term or one-time savings. 
Published in Industry Trends
After weeks of intense ACA repeal and replacement efforts, House Republicans withdrew the American Health Care Act (AHCA) bill on Friday, March 24th, when it was clear they lacked the votes for it to pass. 
 
The AHCA would have kept a few key components of the Affordable Care Act, such as the protection for people with pre-existing conditions as well as allowing dependent children to remain on their parent’s plan until age of 26.  The bill would have eliminated many of the taxes and the individual / employer mandates, as well as significantly defunded Medicaid. 
Published in Healthcare Reform
At Fall River, we pride ourselves on bringing our clients valuable information pertaining to their benefits package and other aspects of their jobs.  We are exploring options that will provide our clients with useful Human Resources information and assistance.  To this end, we’d like your feedback on what HR topics you would like to either know more about or get help with. Please answer our 3-question survey at the following link:


Thank you very much for your participation!
Published in Industry Trends
Wednesday, 29 March 2017 08:27

Benchmarking your Benefits

Evaluating your current benefit plan with the intent to attract and retain top talent is more crucial than ever. Benchmarking gives employers a chance to compare their current plan and contribution strategy to that elusive “standard practice.” Fall River helps its clients understand how they stack up, and we will soon be sharing a new benchmarking document with all our clients. 
 
When was the last time you measured your benefits package against other employers?
Published in Best Practices
 
 Guest Article by Kristen Deevy, Managing Director of Strategic Retirement Partners
 
On Feb. 3, 2017, President Trump drafted a memorandum to the DOL, directing that they delay implementation of the Conflict of Interest Rule (The Rule) for at least 180 days. The Rule, which was set to take effect on April 10, 2017, expands ERISA’s definition of “fiduciary” under retirement plans by identifying additional forms of communication that would constitute investment advice and would deem the giver of such advice a fiduciary under ERISA. 
Published in Healthcare Reform
Tuesday, 14 February 2017 13:22

Ready for your ACA Reporting due March 2nd?

Although there is much speculation about the future of The Affordable Care Act (ACA), it’s still the law of the land for now. For all large employers and small employers that are self-funded, the deadline of March 2nd to distribute 1095-Bs and 1095-Cs to employees is fast approaching. If your organization does not have all the necessary information to complete these forms, it’s time to act fast!
Published in Healthcare Reform
One of the most difficult times for any business is following the death of an employee. Thinking ahead and being prepared for this unfortunate circumstance will help ease the burden.
Published in Best Practices

The 21st Century Cures Act was signed into law on December 13, 2016 by then President Obama. The bulk of the Cures Act covers areas such as medical research and drug and device approvals. This new law also revokes a ban in effect since 2014 on small employer pre-tax funding of individual health insurance premiums. Beginning in 2017, this new act will allow small employers to create “Qualified Small Employer Health Reimbursement Arrangements” or “QSEHRAs.” 

Published in Healthcare Reform
Monday, 26 September 2016 20:35

Ready for Amendment 69?

Amendment 69: Know Before you Vote

 

By now you’ve most likely heard of Amendment 69, but maybe don’t know much about it.  Amendment 69 will be the first option on the November ballot, so now’s the time to educate yourself and your employees about this important healthcare bill!

The Amendment proposes that Colorado implement the first single-payer healthcare system in the nation, called ColoradoCare.  This universal healthcare system would cover all Colorado residents and provide the same benefit level to everyone, regardless of taxpayer or citizenship status.  To finance the plan, a new 10% payroll tax would be created, with employers paying 6.7% and employees paying 3.3%.  Self-employed persons would pay

Published in Healthcare Reform

Employers spend approximately 18-20% of their healthcare costs on prescription drugs, and the rapidly increasing cost of specialty drugs is causing this to inch ever up.  To offset these cost hikes, we’re always keeping our eyes on expensive drugs that are coming off patent and facing cost-slashing competitors soon. There are eight blockbuster drugs (those with a billion dollars or more in sales) coming off patent in 2016.  

Published in Industry Trends
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