"Your Health Insurance Specialists"
Benefits Provided by our Denver Insurance Brokers
Health Shop ® 7823 W 38th Ave, Wheat Ridge, CO 80033 Phone (303) 425-4466 Fax (303) 420-8988
Health Shop has partnered with HR 360, which provides employers access to premier online "Benefits and HR" information, forms and guidance. This online tool can help you stay abreast of new health care requirements, general business information and can assist in many aspects of the running your business.
Our Benefits and Human Resource Online Tool
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Employers with less than 50 full-time employees are not required to offer an employer sponsored health plan. However, businesses with 50 full-time (or) a combination of full and part time employees that equal 50 full-time equivalent employees are subject to the Shared Responsibility Provisions.
Large group employers will be subject to tax penalties:
Define your Status as Small or Large Group
Colorado's exchange, The SHOP, for the small group market offers online enrollment and administration.
- Health plans available on the SHOP exchange will also be available direct from the carrier and are required by law to be offered at the "same price"
- Employers must purchase a plan on the exchange, SHOP in order to be eligible for a business tax credit.
New Premium Rate Determination
July 2013-Department of Treasury has delayed portions of this provision of the ACA until 2015.
New Ways to Purchase Health Insurance
1. New ways to purchase group coverage
2. Premium rate determinations
3. Plan requirements, designs, metal levels
4. Large employer tax penalties
New Plan Designs, Metal Levels
Beginning January 1, 2014 medical premiums will be calculated for each person on the plan, member's age, tobacco use and service area, (zip code). For families, children age 0-20 (Up to 3 children) are rated individually under the child age band.
As an Independent Denver Insurance Agency with over 20 years of experience, we have the ability to shop hundreds of health plans from all major insurance carriers in Colorado, explain your options and offer progressive solutions so you get the most out of your coverage. The Affordable Care Act (Obamacare) has made drastic changes and new regulations to healthcare. We help you find the answers you need, find the plan(s) and prices that works for your business and are committed to providing exceptional customer service to each and every client.
Design tailor made solutions to lower costs or fill gaps of health policies.
In order to keep health insurance costs manageable, employers may want to consider choosing a high deductible health plan and purchase supplemental products to help cover costs and may even cover an employee's loss of income in case of injury or illness.
- Provide personal customer service and assistance with employer and employee questions and needs.
- Offer free access to HR 360 for employer support from employee handbooks, employee forms, and more.
- Have systems in place to help you stay compliant with ERISA, HIPAA, ACA and other notice requirements.
- Compare plans and prices at time of enrollment and each renewal.
- We are your advocate in dealing with the carrier, assist with employee enrollment/terminations, claims, billing issues.
- Offer options for dental, life, disability, critical illness and business portfolios.
- Provide on site employee enrollment meetings.
- Assist determining small business tax credit eligibility.
Health Care Reform has spurned a renewed enforcement of ERISA laws and increased Department of Labor audits. It's more important than ever for businesses to be aware of required ERISA and HIPAA notices. Health Shop has a system in place to help employers with access to these documents as well as how and when notices are to be delivered to employees.
How our Brokers Assist Employers
The Affordable Care Act
The Most Significant Changes to Health Care for Employers
Whether you are starting new coverage, are up for renewal or would simply like to look into lowering costs, our agents can be an invaluable tool. We have serviced group insurance in Arvada Co and surrounding areas for nearly 20 years. If you would like the assistance of an agent please contact us by using the contact form or call us direct at 303.425.4466.
New health plans will be offered in one of four basic levels called "metal levels," Bronze, Silver, Gold and Platinum, Plans will fall into one of the 4 levels by "Actuarial Value" in order to make plans easily comparable.
DORA (Department of Regulatory Agencies) has released "proposed" regulation to establish rules for the required inclusion to the the essential health benefits in small group health plans issued or renewing on or after January 1, 2017. (This does not apply to grandfathered health benefit plans.) We have highlighted a few of the key requirements below:
New Essential Health Benefits Proposed to be Included for Colorado Group Insurance in 2017
- Bariatric: Medically necessary Bariatric surgery services.
- Infertility Services including: X-ray and laboratory procedures, Services for diagnosis and treatment of involuntary infertility, Artificial insemination
- Chiropractic Care: Up to 20 visits per year, at a minimum.
Diagnosis and evaluation; Medically necessary lab and x-ray services required for chiropractic services and musculoskeletal disorders.
2017 Group Health - Moderate Rate Increases
Colorado Department of Insurance is currently reviewing 2017 rate filings provided by Colorado health carriers. Rate filings show group health plan increases modest compared to individual health plans. Below is a breakdown of some of the prominent carrier rate proposals in Colorado.
Rocky Mountain HMO
Individual Health Insurance Proposed Rate Increases
Group Health Insurance Proposed Rate Increases
+34.6% (Mesa County Only)
As rate increases are rising more sharply in the individual market, we would recommend small business owners, not currently offering group health insurance, to have our brokers run group health quotes and compare individual and group plan costs. Employers may also see a tax benefit incorporating a Premium Only Plan. A POP plan is a Section 125 Cafeteria Plan that allows the employer sponsored premium payments to be paid by the employee on a pre-tax basis. Employers will reduce their payroll tax liabilities and employees reduce their income tax, increasing take home pay.
Our Health Shop brokers work with group insurance in Wheat Ridge Co and throughout Colorado every day. We stay on top of current market trends and strive to provide the most value at the best possible price. There are no fees for our services and monthly premiums are not affected. Rates are regulated by the Colorado Department of Insurance, therefore premiums are required to be the same whether you purchase coverage through a licensed broker, through Colorado's health exchange or directly from the health insurance carrier. Receive the convenience, experience and personal service from one of our Health Shop brokers and rest assured you are getting the most value at the best possible price, guaranteed.
Your Group Insurance Broker in Wheat Ridge, CO
Serving Thornton, Westminster, Denver, Lakewood and Arvada, CO
thousands in premiums a year."
"We have saved business clients