Construction Today - July 2016 - 16

HEALTHCARE
workers' compensation
ยป Using
for minor injuries is highly
expensive for companies.

CHANGE THE GAME
I
Overcoming insurance cost challenges requires an entrepreneurial approach. BY DR. DAVID BERG

t's not an unusual situation. Your
employee is injured on the jobsite and
seeks treatment at his doctor's office
or the emergency room. Or, maybe
you have an arrangement with a workers'
compensation clinic promising to save
you money. You and the doctor both file a
workers' compensation claim to cover the
cost. And that's it - right?
Actually, using workers' compensation
(WC) for minor injuries is one of the most
expensive ways to take care of your employee, especially if the injury only needs first
aid and doesn't require a claim. When you
consider how it impacts your experience
modification (eMOD) score, raises your premiums and prevents you from bidding on
bigger jobs, WC takes too big a toll on your
bottom line.
If managing WC and eMODs weren't
complex and costly enough, now your
broker says you must pay 20 percent more
for health insurance because of the Afford-

16

CONSTRUCTION-TODAY.COM JULY 2016

able Care Act (ACA), commonly known as
Obamacare. Or, maybe he's saying you need
to provide insurance for all of your full-time
employees - not just your managers and
foremen. If that's true, companies like yours
could go broke.
But did you know there is a simple
strategy that could totally change the game?
It starts with applying the same kind of
entrepreneurial thinking you already apply
in your business every day. This strategy
covers the ACA and your WC problems at
the same time, knocking out two birds with
one stone.
First, let's clarify what the ACA really requires. Nowhere does the law say employers
must provide traditional insurance - or
even cost your business a penny. Here are
three things it does require:
* IRS Forms 1094 and 1095: Employers
of all sizes are required to file Forms
1094 and 1095 at tax time with details
on each employee's health coverage -

or face a fine of up to $2,400 per year,
per employee, with a maximum of $3
million. This requirement is easy; filling
out the forms costs nothing.
* Minimum Essential Coverage
(MEC): Companies with 50 or more
full-time-equivalents (FTE) must
provide MEC. For businesses that
self-insure, MEC includes 71 specific
services - screenings, limited primary
care, preventive services, some medications and COBRA. It's not expensive,
but it's terrible healthcare, as it doesn't
include treatment for most common
health problems.
A better option is a plan that includes
the care most of your employees need,
most of the time, without limits or copays, and service in English/Spanish. For
example, when a worker needs a couple
stitches for a minor cut or chiropractic
care for a tweaked back, treatment won't
require a copay or hit your eMOD.


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Table of Contents for the Digital Edition of Construction Today - July 2016

Contents
Construction Today - July 2016 - Cover1
Construction Today - July 2016 - Cover2
Construction Today - July 2016 - 1
Construction Today - July 2016 - Contents
Construction Today - July 2016 - 3
Construction Today - July 2016 - 4
Construction Today - July 2016 - 5
Construction Today - July 2016 - 6
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Construction Today - July 2016 - 128
Construction Today - July 2016 - 129
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Construction Today - July 2016 - 131
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Construction Today - July 2016 - 133
Construction Today - July 2016 - 134
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Construction Today - July 2016 - 137
Construction Today - July 2016 - 138
Construction Today - July 2016 - 139
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Construction Today - July 2016 - 141
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Construction Today - July 2016 - 150
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Construction Today - July 2016 - Cover3
Construction Today - July 2016 - Cover4
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