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Archive for June, 2011

Healthcare Reform and Businesses

Tuesday, June 14th, 2011

Current Healthcare Statistics:

•          Small businesses on average pay about 18% more than big businesses for the same health insurance policies

•          Small business health insurance premiums have risen 113% over nine years, a growth rate of nearly 9% annually

•          99% of large firms offer healthcare coverage, while 78% of firms with 10 to 24 workers offer coverage; that drops down to just 49% among firms with fewer than 10 workers

•          Of the 45 million uninsured Americans in 2007, 22.3 million (about half) were self-employed or worked for small businesses

Healthcare Reform Changes that Affect Your Business Right Now:

•          If you have 25 or fewer employees with annual wages of less than $50,000, you can get tax credits of up to 35% of the premiums paid under the new healthcare reform.

•          Catch: Employers need to cover at least 50% of the total premium cost for their employees

•          The credit will go up to 50% in 2014 and can be used for two consecutive years after that.

•          Businesses with 10 or fewer employees and annual wages of less than $25,000 will receive full access to the tax credit.

•          Small businesses that are tax-exempt are eligible for tax credits of up to 25% of the amount they contribute toward an employee’s health insurance premium.

•            4 million businesses are expected to be eligible for the credit this year

•          Holes: The IRS form that small business owners will fill out next year to claim the tax credit for 2010 is in draft form, and the IRS has not yet created instructions for how to use it

•          The Congressional Budget Office estimates that the credit could save small businesses $40 billion by 2019

What Can You Do to Trim Costs Right Now?

1.       Add a wellness or health management program

2.       Change plan design

3.       Perform a dependent eligibility audit

4.       Give incentives for employees to participate in wellness programs to improve the overall wellness of the group

Thanks for reading!

Your healthcare resource – Rebecca Busch

Pill Mills: New Laws, New Offenders, Same Old Scheming

Thursday, June 2nd, 2011

What is a Pill Mill?

A Pill Mill consists of a doctor, clinic or pharmacy that is prescribing or dispensing powerful narcotics inappropriately or for non-medical reasons.

How do pill mills work?

  • Only accepts cash
  • Pain is the only illness “treated”
  • No physical exam is needed
  • Pain is only treated will pills, no other methods are examined

New Laws

Rules in Pill Mill hotbeds of Florida and Ohio have recently been put into place to stop these schemes. In Ohio a bill passed that will enhance “reporting requirements for physicians who also furnish drugs, establish a clearer definition of “pain management clinic,” and require the state Medical Board to develop standards for operating such clinics.”

The bill also mandates that Medicare and Medicaid systems be better managed to weed out individuals who are getting the prescription medications and then selling them.

In Florida, lawmakers have made more requirements for doctors looking to operate pain management clinics. The law will also impose new administrative and criminal penalties for doctors who overprescribe narcotics.

Recent Crackdowns

A February raid of 11 pain clinics from Miami to West Palm Beach lead to the arrests of 23 people, including four physicians, and seized $2.5 million in cash and dozens of cars.

Something good to come from these recent raids – Oxycodone pills are harder to find in street deals nowadays, evidenced by the rise in prices from around $5 per pill to $20.

Cracking down on prescription drug abuse will hopefully lead to fewer prescription drug related deaths.

Thanks for reading!

Your healthcare resource – Rebecca Busch