How Benefits Might Change in July 27, 2016

Transcription

1 How Benefits Might Change in 2017 July 27, 2016

2 Your speakers Dennis Triplett Chairman, UMB Healthcare Services Roy Ramthun President and Founder, HSA Consulting Services 2

3 Poll question # 1 How would you describe your role? A. Health plan B. Broker, agent, or consultant C. TPA D. Other 3

4 4

5 Will we feel the Bern of free healthcare? More Government Free Market Sanders Clinton Trump Single-payer healthcare system Expand/improve ACA Repeal/replace ACA 5

6 Healthcare must be recognized as a right, not a privilege. Every man, woman, and child in our country should be able to access the healthcare they need, regardless of their income. The only long-term solution to America s healthcare crisis is a single-payer national healthcare program. Bernie Sanders 6

7 Leave no one behind Legal Medicare & legislative for all. flurry of Separate health insurance from employment activity Employees can change jobs without fear of losing health insurance. Employers can focus on running their businesses not administering benefit plans. 7

8 Pros Coverage for all Americans Relieves employers of a huge expense 8

9 Cons No out-of-pocket maximums on Medicare and other coverage gaps Without health care, employers must find other benefits and perks to differentiate themselves to employees. 9

10 How might Hillary Clinton s policy ideas play out? I have been talking about healthcare my entire career. As president, I ll defend the Affordable Care Act, build on its successes, and even go further to reduce costs. My plan will crack down on drug companies charging excessive prices, slow the growth of out-of-pocket costs, and provide a new credit to those facing high health expenses. Hillary Clinton 10

11 Making the ACA work Stay the course and make incremental changes. 11

12 Making the ACA work Make premiums more affordable and less out-of-pocket expenses. $5,000 tax credit for families with out-of-pocket costs over 5% of their income. Enhance premium tax credits. Block or modify unreasonable health insurance premium rate increases. 12

13 Making the ACA work Support new incentives to encourage all states to expand Medicaid in every state. Expand Medicaid in every state. 13

14 Making the ACA work Invest in navigators, advertising and other consumer outreach. 14

15 Making the ACA work Expand access to ACA exchange to families, regardless of immigration status. 15

16 Making the ACA work Reduce consumer costs of prescription drugs. 16

17 Making the ACA work Continues to support a public option to reduce costs and broaden the coverage choices. Establish a federally run public option Allow people to enroll in Medicare at age 55 Increase federal funding for community-based health centers by $40 billion over the next decade 17

18 Making the ACA work Proposed a package of additional reforms. Lower out-of-pocket costs, such as copays and deductibles Reduce the cost of prescription drugs Reward value and quality Expand access to rural Americans Provide women access to reproductive healthcare 18

19 Can Trump really repeal the ACA? 19

20 Replace ACA with free market reforms to the healthcare industry that will broaden access and improve affordability and the quality of care. 20

21 No person should be required to buy insurance unless he or she wants to. Donald Trump 21

22 Allow the sale of health insurance across state lines. 22

23 Tax credit for families that don t have employer coverage. Make health insurance premium payments tax deductible. 23

24 Establish high-risk insurance pools. 24

25 Work with states to review Medicaid options. Provide block grants to states. Incentivize states to remove fraud and waste from the system. Raise the Medicare eligibility from 65 to

26 Price transparency and consumer tools. Consumers could shop for healthcare like they do other products. 26

27 Allow cross-border prescription drug purchases. 27

28 Health savings accounts for all. Tax-free contributions Appealing to younger people Account balance can be used by any family member without penalty Inheritable without penalty 28

29 ACA: THE PATH What effect will House and Senate FORWARD elections have on the ACA?

30 Poll question # 2 How many Senate seats are Republicans defending? A. 10 B. 14 C

31 Will the Trump Train provide traction for other Republicans? Republicans are defending 24 Senate seats to the Democrats 10 7 Republican incumbents are in states carried by President Obama in 2008 and 2012: New Hampshire, Iowa, Wisconsin, Illinois, Ohio, Florida, and Pennsylvania 31

32 How HSAs might be affected Clinton Trump Keep HSAs 32

33 ACA: THE PATH UMB Commentary FORWARD

34 Future of ACA Unlikely to be replaced because of political obstacles and devastating effect on covered individuals but 34

35 ACA: THE PATH The Cadillac Tax is (probably) coming FORWARD

36 Poll question # 3 The Cadillac Tax taxes health coverage that exceeds a certain threshold. How much is the tax? A. 25% of the cost that exceeds the threshold B. 40% of the cost that exceeds the amount C. 60% of the cost that exceeds the amount 36

37 Cadillac Tax Kicks in in % of the cost of health coverage that exceeds predetermined 2018 amounts: $10,200 for individual coverage $27,500 for family coverage Projected 2020 threshold amounts: $10,900 individual, $29,200 family Indexed for inflation after

38 Cadillac Tax Who pays? Insured plans: Employers calculate and insurers pay Self-funded plans: Employers calculate and the person who administers the plan benefits pays HSAs and Archer Medical Savings Accounts (MSAs): Contributions by employers and employees are included 38

39 Public Exchange standard plans are not HSA-compatible. To be eligible for an HSA, the plan must: Have a minimum deductible of $1,300 for individuals and $2,600 for families Limit out-of-pocket costs (deductibles and copayments, not premiums) to $6,550 for individuals and $13,100 for families In most public exchanges, the bronze plans are most often eligible, though some silver plans may qualify. Shoppers should look for a designation that the account is HSA-compatible before enrolling. 39

40 DOL fiduciary ruling HSA custodians should clearly operate in the client s best interests. Fee transparency Financial security Support employer goals Hassle-free administration Actionable analytics Straightforward pricing Consumer-friendly features 40

41 Q & A Type in your question at any time for the presenters 41

42 Thank you for participating! Thank you for participating! Dennis Triplett Roy Ramthun Chairman, UMB Healthcare Services President and Founder, HSA Consulting Services hsa.umb.com askmrhsa.com