The Affordable Care Act (ACA), the health of the easier to obtain individual insurance and less expensive. This is good news for religious institutions that want to offer health benefits to their spiritual or religious leaders are. When it comes to health care to provide clergy, many religious institutions may feel like they have no options. While they want to take care of their religious leaders and members of the clergy, many are unable to afford health insurance able traditional group, or can not meet the minimum conditions.
Thanks to the changes to the individual health insurance market, religious institutions can afford to take care of their valued employees finally. Instead of expensive traditional group health insurance offers, many religious institutions are their employees help with their individual health insurance premiums to be reimbursed. Here is why employer-paid individual health insurance is a better option for religious institutions of all kinds.
employees are well maintained
Many religious institutions to express care a high moral obligation their leaders and other members of the clergy who are employed there. Healthcare benefits are offered an essential component of compensation packages for employees. Instead offer pricy group health insurance, many religious institutions offer tax-free health supplements as part of their compensation packages of their choice clerics to recruit.
In this type of arrangement, employees more choice of coverage and physicians are best suited to pay for their family. Individual health insurance offers more choice and control to employees by allowing them to choose a plan that meets their own needs, including coverage and network. Employees can decide their own plans to work with their budget. These plans can be adapted to individual circumstances and age.
For example, when a young employee is relatively healthy and on a tight budget, a plan with a lower premium and higher deductible may be the right choice. On the other hand, older workers or workers with more healthcare needs, a plan with a higher premium and lower deductible can better plan the.
The religious institution Controls the cost of health care services
By setting allowance has, the religious institution provide complete control over the cost of health services for workers. This is crucial, as most religious institutions nonprofit organizations that run on tight budgets. Create predictability in the health benefits budget remains more money for community outreach and help members of the institution. For example, by an employee to reimburse the individual health insurance premiums:
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There are no minimum or maximum contribution amounts. The religious institution determines the health allowance.
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There were no actual costs are borne, to the employees receive their reimbursement. The device does not have the institution directly reimburse the employee third bank to fund before accounts--.
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The device is not to keep agent used at the end of the plan year.
this worksheet Fill perform a cost analysis and to see the potential savings.
With premium refund software, health benefits are easy and inexpensive to administer minimal administration for religious institution for the institution. Some institutions consider the reimbursement of employees without a formal plan or compatible software. However, still expensive in accordance with regulations and healthcare reform, time consuming, and administrative expense for the employer.
Credible software vendors eliminates the time to offer cost and administrative burden health benefits. Religious institutions can choose a refund software vendors expect:
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Spend less than five minutes per month reimbursement plan administration
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Have they have access to their refund plan 24/7 online
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their existing payroll system and HR processes integrating refunds
premium refund software ensures compliance
the IRS allows this type of tax-free individual health insurance reimbursement only if statutory planning documents are available, and it is managed in accordance with federal guidelines and regulations. By refund software guarantees the religious institution compliance:
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ACA requirements
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ERISA
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COBRA
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HIPAA
questions such as better performance for your spiritual or religious leaders and their staff to provide? Leave a comment below.
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