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July 2012

July 12, 2012 by  
Filed under Newsletter

News Bulletin For July 2012
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Supreme Outcome

After more than a year of uncertainty, we finally have closure with regards to the most significant constitutional challenge to Patient Protection and Affordable Care Act. Just in case you've been away from your television, radio and/or Internet source for the past few days, here is a quick recap of the ruling.


Healthy Kids

Healthy Kids provides no-cost, low-cost and full-cost health coverage options for uninsured Oregon children and teens up to 19 years of age.

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Don't Delay COBRA Notifications
Many clients choose to outsource COBRA and for good reason. It's a difficult law to completely comply with and most employers overlook important details.

A recent court case (Fama v. Design Assistance Corp.) shows why it's so important to stay compliant. In this case, an employee was terminated, but the employer didn't send a COBRA notice and mistakenly continued her coverage at no charge for 5 months. The employer retroactively canceled her coverage, but later reversed itself and reinstated the coverage at no cost to the employee. When the employee sued over the employer's mistake, the court awarded her nearly $3,000 in damages because the employer didn't provide her a COBRA election notice when it should have, despite the fact that she actually received 5 free months of coverage for which she wasn't entitled.

Larry Sherwood & Associates has several resources to help you comply with this complicated law.


Brand Name vs. Generic Prescriptions
If you have ever sat through an enrollment meeting from one of our agents you have undoubtedly heard us strongly recommend the use of generic medications. Not only will it help control rising medical premiums but it will also save employees money. Now one of Oregon's largest insurers has published an eye opening report about just how much difference there really is between generic and brand name medications. Think of the attached chart next time you visit your local pharmacy.


Alternative To Dependent Group Coverage

Maintaining coverage for dependents (spouses, children, domestic partners) can be cost-prohibitive for many employees on your group coverage. Oftentimes an individual plan for their dependents is cheaper than adding them to the group plan. Click the link below to begin research for lower cost dependent coverage. 



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