The Associations realized that big changes were happening in the health care industry, specifically the cost to obtain health care insurance. As health care rates continue to rise and the financial exposure risk for our members and their employees continues to grow.

 

To help offset the exposure due to the rising costs for employers and employees, we evaluated the need for work-site sickness & accident products for its membership. To select the right partner for MBPA/MFBA and its members we hired a third party consultant to evaluate voluntary benefit companies and their products.

 

We are excited to share with you our new partnership with Colonial Life, a market leader in providing benefit solutions. We are providing personal insurance products through our program with Colonial Life including:

 

• Accident
• Cancer
• Critical Illness
• Medical Bridge – Hospital Indemnity Plan
•  

Please contact us for more information or to set up a meeting at info@michbusiness.org or by phone at 586.393.8800.
 

The Michigan Business and Professional Association (MBPA), along with its sister group, the Michigan Food and Beverage Association (MFBA), work diligently to keep you up to date on our new federal healthcare law and how it will affect you, your family, and your business.

 

Although our Associations did not support the passage of the Patient Protection and Affordable Care Act (PPACA), when given the option of allowing the federal government to control Michigan’s healthcare exchange, or having more state control, we opted for Michigan controlling its own healthcare exchange. We have had countless meetings with both key federal and state officials that are responsible for making critical decisions on how Michigan interacts in the federal healthcare exchange. Most recently in October we testified in front of the House Health Policy Committee on the need for a state run healthcare Exchange. Michigan must retain power over what happens with our healthcare. It is critical for us that the Michigan exchange allows for more options for the marketplace, is fair to small business, does not dictate carriers and coverage and allows for as much choice as possible with the least amount of negative impact on the economy. We were successful in these endeavors.

 

Update: Senate Bill 693 has passed the Senate, which creates the MIHealth Marketplace Act which will function as Michigan’s healthcare exchange that is required under the federal healthcare reform law passed last year. Highlights from the legislation include:

• Establishes a small business health options program (SHOP) through which employers could provide healthcare coverage for their employees

• IF PPACA is ruled unconstitutional or repealed, the SHOP would be suspended, thus no longer offering federal healthcare options to businesses

• This Act cannot use State funds

• Health insurance coverage costs will be the same on and off the exchange

• Insurance agents maintain their role and compensation, offering healthcare services

• Allows the Marketplace to charge assessments or user fees to participating health carriers to support its operations

• Maintains two separate risk pools

 

This bill now heads to the House Health Policy Committee for further deliberation. As always, we will keep you up to speed as this legislation continues to move through the legislative process. Please contact our Government Relations Team with questions/comments at: bbochniak@michbusiness.org or by phone at: 517-374-9128.

As a courtesy of the MBPA/MFBA and partner, United Networks of America, we’re pleased to offer you access to a FREE Prescription Drug Card program.

 

This card will allow you to receive savings up to 75% (average is around 25 – 30%) at more than 1,300 well known pharmacies throughout the state of Michigan.

 

Key elements to keep in mind are:

• This is a point of purchase discount card…not insurance.
• This card cannot be used in combination with any existing health insurance program (i.e. discounting of co-pays)
• Person pays the lower of a discount off the average wholesale price.
• The card can be used as a Primary RX Plan or used for prescriptions not covered by an insurance plan.
• It can be used for Medicare Part D Gap Plans.

 

The Associations are pleased to provide this card as one of our numerous efforts to help companies and individuals control escalating health care costs.
 

Remember that the MBPA and MFBA now offer outstanding Companion Life and Disability Products.

Companion Life continues to lead the industry in offering innovative benefit designs for group and voluntary life and disability products. More employers are adding life and disability products to their portfolio of available employee benefit plans.

Life and disability coverage options are an easy and cost-effective way of providing additional financial security for employees without adding to the employer benefit cost.

Companion’s Short Term Disability Buy-up Plan is an economical, simple solution that provides both employers and employees an array of options. By combining a core level of income protection, with the opportunity to purchase additional coverage, both employers and employees benefit.

Voluntary Program Highlights:

Voluntary Short Term Disability

• Rates are based on entry level age bands (enrollment age freeze).
• All SIC codes are eligible.
• Includes $10,000 of Accidental Death and Dismemberment (AD&D) at no additional cost.
• Eight different plans and 13 benefit levels to choose from.
• No evidence of insurability is required if the employee is at work on the effective date of coverage.
• Maximum weekly benefit not to exceed 66 2/3% of basic weekly earnings to a maximum of $750.00.
• Coverage includes a partial disability benefit to support a recovering employee’s return to full potential through part-time work

Voluntary Long Term Disability

• Non-contributory, premium is to be 100% Employer Paid
• 2 Year Rate Guarantees
• Attained Age Rating for groups of 1-9 lives (No Entry-Age Freeze)
• 2 Year “Own Occupation”, thereafter “Any Occupation”
• “Pre-X” for 1-9 Lives 12/6/24
• 2 Year Mental and Nervous Limitation (Unless Hospital Confined)

Voluntary Life

• Generous Voluntary Life Maximums and Guarantee Issue limits.  Employees are eligible for a maximum of $500,000 of Group Term Life Insurance and Spouses are eligible for $150,000.
• All SIC Codes are eligible.
• Dependent child benefit options range from $2,500 to $10,000.
• Accelerated benefit provision pays up to 75% of the benefit in the event of a terminal illness ($100,000 maximum).
• Waiver of premium if you become totally disabled.
• Portability and Conversion Privileges.

Group Program Highlights:

• Guarantee issue Life options for all size groups – Even One Subscriber Groups
• No Ineligible Industries for group Short and Long Term Disability.
• Group Short and Long Term Disability for groups as small as one.
• Online Administration guarantees no monthly billing fees.
• Easy online grid rates and calculator for groups less than 10 employees. No need to wait for a formal proposal.
• Entry Age Rating for employers with 1 to 9 enrollees ensures that as employees age, their rates do not.
• Generous guarantee issue and flexible benefit design for your clients with 10 or more employees.
• Higher Commissions – flat 15% for groups with 20 or less enrolled.

 Click Here to review Companion Products