PITTSBURGH – HM Insurance Group has created new tools to assist with calculating and understanding the impact of Affordable Care Act (ACA) taxes and fees on self-insured groups. The company’s fee calculator* and quick-reference sheet provide producers information to share with their clients to help them gauge the impact ACA taxes and fees have on their current coverage.
“As a stop loss carrier that provides protection to self-insured groups, we are pleased to be able to help our clients evaluate the financial impact of ACA reform measures,” Matt Rhenish, senior vice president, strategy and marketing, said. “The complexities of reform have producers and groups on edge, and HM has made it a priority to help provide some much needed clarity.”
HM’s ACA fee calculator is an illustrative tool that auto-calculates the major ACA fees to show the costs involved, as well as the fee differences between fully insured and self-funded plans based on group size, cost of coverage, etc. The tool also graphs the comparison. For access to the calculator, producers should contact their regional HM sales rep.
The HM ACA fees reference sheet helps explain the cost impact of taxes and fees relating to health care reform. The document is a good quick-reference guide to how each fee impacts a group’s coverage costs. Find the HM ACA fees reference sheet on hmig.com.
*This fee calculator is for general informational purposes only and is not intended to constitute legal advice or a recommended course of action in any given situation and should not be relied upon in making decisions of a legal nature. Please note that the information obtained from this tool is based on our understanding of the Patient Protection and Affordable Care Act of 2010, as amended, and guidance as of the date of this publication.