Construction Today - July 2016 - 17

insurance to ensure no employees spend more than 9.5 percent
of their annual income on healthcare. This is one way to satisfy
the MVP requirement, but it's also the most expensive.
Construction companies can tackle ACA and WC challenges easily
and affordably through self-insurance.
Large companies have been self-insuring for a long time, but it's a
newer trend with smaller companies. A broker who builds self-insured plans can help you maintain cost control with this guideline:
1. Offer healthcare most employees need. This coverage goes
beyond MEC and includes routine services most people use,
most of the time - primary care and injury care, rehabilitation
(including chiropractic), labs, immunizations, generic medications and preventive services - and don't make your employees
pay copays and deductibles for these types of doctors' visits.
2. Purchase stop-loss insurance: This will cover expensive healthcare - hospitalization and specialist care - and ensure you
meet MVP requirements if you believe the risk of government
exchange subsidies is too great.
3. Stop overpaying: Hire an organization to manage the care delivery and logistics process, and eliminate the waste, administration and overpricing rampant in health insurance.

David Berg is a
physician entrepreneur
and co-founder of
Redirect Health. For
more information, www.
redirecthealth.com.

Self-insurance plans can help
contractors tackle healthcare
cost challenges.

HEALTHCARE

As a ballpark, a plan like this should cost
around $100 a month, and you should
have the option to pass that cost to your
employees and still avoid the most
expensive ACA penalty. However, many
employers cover this cost for retention
and recruiting purposes.
If you don't offer at least MEC, you'll pay a
non tax-deductible fine of $2,000 per employee (excluding the first 30 employees).
* Minimum Value Plan (MVP): MVP is
difficult to define, but in short, it states
the plan must cover at least 60 percent of
employees' bills after monthly premiums. Companies with 50 or more FTE
employees that don't offer MVP face a
$3,000 fine for each employee who receives a government exchange subsidy.
Employees with the $100 plan described
above will rarely want a subsidized plan.
And if no subsidy, then no $3,000 penalty.
Many brokers say you need expensive

«

17

JULY 2016 CONSTRUCTION-TODAY.COM


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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
Construction Today - July 2016 - 7
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Construction Today - July 2016 - 133
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Construction Today - July 2016 - Cover3
Construction Today - July 2016 - Cover4
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