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Welcome! The Spindel Agency Lunch and Learn

Welcome! The Spindel Agency Lunch and Learn. Issues, Answers and Politics. “The” Issue. It Costs To Much. % Health Plan Cost Increases. 18.6%. 17.1%. 16.7%. 14.7%. 12.1%. 11.2%. 10.1%. 10.1%. 8.1%. 8.0%. 7.5%. 7.3%. 6.9%. 6.1%. 2.5%. 2.1%. 0.2%. -1.1%. 1987. 1988. 1989.

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Welcome! The Spindel Agency Lunch and Learn

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  1. Welcome! The Spindel Agency Lunch and Learn

  2. Issues, Answers and Politics

  3. “The” Issue It Costs To Much

  4. % Health Plan Cost Increases 18.6% 17.1% 16.7% 14.7% 12.1% 11.2% 10.1% 10.1% 8.1% 8.0% 7.5% 7.3% 6.9% 6.1% 2.5% 2.1% 0.2% -1.1% 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Source: Mercer’s 2004 National Survey of Employer-Sponsored Health Plans

  5. Add an average increase of 10% inflation since 2004 and the price of healthcare has increased over 480% Source: Kaiser Foundation and Health Research and Educational Trust The cumulative increases assume 1988 as the base.

  6. Health Care Facts • Total spending was $2 TRILLION or $6,700 per person • In 2006, employer health insurance premiums increased by 7.7 percent • Total health care spending represented 16 percent of the gross domestic product (GDP) • It is projected that it will reach 20% next decade

  7. Putting The Cost In Perspective It represents 20.6% of our personal expenditures 38% more than housing 87% more what we spend on food 4.3 times the amount spent on national defense Nearly 47 million Americans are uninsured

  8. Who Are The Uninsured in Virginia?

  9. 40% of the Uninsured Have Incomes Above 200 Percent of Federal Poverty Level 301+%FPL 201-300% FPL 100-200% FPL <100% FPL Source: Urban Institute Tabulations of the 2005 and 2006 Annual Social and Economic Supplement to the Current Population Survey

  10. Uninsured In Virginia

  11. Of Uninsured 19 to 34 Year Olds – 65% Are Above The Poverty Level 400+ %FPL 200-299% FPL 100-199% FPL <100% FPL Source: Urban Institute Tabulations of the 2005 and 2006 Annual Social and Economic Supplement to the Current Population Survey

  12. It’s Broken: The Government Can Fix It!

  13. No Shortage Of Plans!! Hillary Clinton Senator from New York • Require everyone to get health insurance, subsidized by employers and the government; pay for it by rolling back tax cuts for households earning over $250,000 and savings in the existing system. Barack ObamaSenator from Illinois • Require that all children have health insurance; pay for it by rolling back President Bush's tax cuts for households earning over $250,000; aims for universal coverage. John McCainSenator from Arizona • For free-market, consumer-based system; has pledged affordable health care for every American without a mandate; says universal health care is possible without a tax increase.

  14. State Universal Health Plans

  15. The Massachusetts Plan Massachusetts announced that the cost of its health care insurance plan will increase by 85 percent, amounting to a $400 million increase in 2009 This makes the saying prophetic: if you think health care is expensive now, just wait until it is "free“.

  16. Other State Plans Colorado - proposed a Massachusetts-style plan. It is a single-payer mandate plan that will cost the state, at a minimum, an additional $1.3 billion per year California - Gov. Schwarzenegger's plan met defeat in the Senate because of its costly $15 billion price tag

  17. Logic: Setbacks On The State Level Call For National Reform Many call the outcomes in Massachusetts, California and Colorado a "setback" and say this is reason for health-care reform at the national level “If you get hurt jumping off a single-story building, would you try to jump off a 50-story building and expect a better outcome?” Colorado Sen. Scott Renfroe

  18. What’s Driving The Cost

  19. Aging Populace Medical Technology Defensive Medicine Prescription Drug Costs Health Insurance Our Behavior

  20. Shields patients from much of the true cost of care What insurance should be: insuring against random/unexpected events What it’s become: a pre-payment of routine services What We’ve Come From: major med policies to comprehensive benefits with POS co-pays

  21. OUR BEHAVIOR The Number One Issue Driving The Cost Of Health Care

  22. Life Style Choices 60% 50% 40% 20% 20% 20% 10% 0% Access to Care Genetics Environment Behavior Source: IFTF, Center for Disease Control and Prevention (2005) Behavior – the Leading Determinant of Health Status

  23. What’s The Solution? The best current option for (future) lower premiums are Consumer Driven Healthcare Plans (CDHP)

  24. The Pairing Of: High Deductible Health Plan (HDHP) and A Tax-free Medical Account

  25. No minimum contribution Contributions to HSA account are 100% tax deductible Use it or keep it Whatever is left at the end of the year, you keep

  26. For 2008: Single – $2,900 Family – $5,800 Indexed annually Catch-up provision Over age 55 by 12/31/08 $900 for employee $1,000 in 2009

  27. Eligible medical expenses before insurance deductible Prescription drugs Drug cards are not allowed! Eyeglasses or contact lenses Dental expenses Qualified Long Term Care Insurance Premiums All medical expenses as defined by IRC 213(d)

  28. Multiple mutual funds options available depending on administrator Earnings on account funds are tax deferred No lifetime maximum

  29. The TFA Benefits How We Can Help Solutions Since 1928

  30. Who We Are Largest book of business in the region • 3000+ Group Clients • 4500+ Individual Clients

  31. Who We Are - Strength In Depth

  32. Who We Are • Commitment To • Value Added Services

  33. Our Services • Flexible Benefits Administration • Customized Employee Benefits Website • Total Compensation Statements • Regulatory Expertise & Service • On-Line Enrollment

  34. BeneFlex • Section 125 (Flexible Spending Accounts) • Pre-tax premium plans (POP) • COBRA Administration

  35. Compliance Issues HIPAA, COBRA, FMLA, ERISA, Section 125

  36. Total Compensation StatementsAdding Value for Your Employees

  37. Total Compensation Statements

  38. Technology

  39. Accessing Your BenefitsOn Demand Technology Password Protected Every Participating Organization Receives A Company SpecificLogin

  40. Personal Welcome Page All Benefits In One Place Benefit Plan Costs Medical Plans

  41. You Can Obtain Premium Information

  42. Comparison of Medical Plans Medical

  43. Benefit Comparison

  44. Online Enrollment Currently for large employers

  45. On-Line Enrollment On-Line Enrollment Button

  46. On-Line Enrollment Enter your username and password Username: First initial of your first and last name along with the last five digits of your social security number – sv22160 Password: First initial of first and last name along with the first three digits of your social security number – sv218

  47. Step 1 – Enter/Update Personal Information

  48. Step 2 - Health Plan Cost Calculator

  49. Health Plan Cost Calculator PPO HMO

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