Look before you leap: 4 steps before dropping your insurance plan

Published on August 7, 2014

In human resources, autumn leaves signal one thing: health insurance open enrollment periods.

This annual event is particularly acute in 2014 for healthcare decision makers navigating the post-Affordable Care Act landscape. Ahead of Obamacare’s Nov. 15 open enrollment start, many small- to mid-sized employers are reassessing whether to discontinue their company-sponsored healthcare coverage altogether in favor of employee participation in state-based ACA marketplaces.

Under federal law, companies with fewer than 50 employees are not required to offer health insurance to their employees. Larger companies may face potential penalties in the coming years if they fail to offer a specified level of health insurance to their employees, but it remains to be seen whether that provision currently set to start next year will ever go into effect.

To be certain, it’s a complicated issue to address. On one hand, Obamacare creates an opportunity for smaller companies to shed a costly, unpredictable line item on their balance sheets. On the other hand, a competitive benefits package can be a great recruiting tool for luring the best talent. For these reasons, we recommend that ambulatory surgery centers complete the following four steps before dropping a health insurance plan:

Don’t panic: Cancelling a health insurance plan can have long-term implications for a company, so it’s best to approach it with a clear head. Meet with your insurance broker to ensure you’re making an informed decision and then consider all of the options available. You may be surprised what you learn.
Evaluate your current plan: Take a full inventory of what your plan offers, its advantages and disadvantages and what your workforce may be willing to live without. Conducting a survey of your employees about the current offering, too, can provide valuable insights and help your decision-making process. Again, you may be surprised what you learn.
Assess alternatives: Benefits providers have developed a variety of innovative, non-traditional insurance offerings in recent years that meet new ACA requirements, while limiting your risk and improving coverage for your employees. For example, defined contribution health insurance products that cap companies’ costs at set annual limits have proliferated since the ACA was enacted.
Keep your ear to the ground: By some estimates, Obamacare has undergone 42 changes since it went into law in 2010. And there’s likely more to come, which is why it’s important for ASC administrators to continually monitor updates to the new law, as well as the latest benefits, products and services that may help you manage your risks.

Please contact (708) 492-0519 for more information on managing your health care costs.

Eletter: MedHQ Survey Shows Mentoring, Performance Measurement Most Critical to ASC HR Leaders

Healthcare decisions aren’t made in a vacuum.

Providers, payers and other healthcare stakeholders all regularly use data to help make the best decisions for their organizations and improve patient outcomes. As the leading HR and accounting solutions provider for surgical centers nationwide, MedHQ also uses data to drive ASC staffing, benchmarking, performance management and workflow decisions with our partners.

MedHQ took a similar approach in launching this eletter. We recently commissioned a survey of top healthcare leaders to determine its focus and find out what’s keeping administrators, physicians partners, and other key financial and HR managers up at night – all with the goal of delivering the most relevant, timely content to you every two weeks.

In deploying the survey, we also promised to share our findings, which suggest the following operational and HR trends today in ASCs and other healthcare facilities:

  • Mentoring managers, measuring performance are the biggest priority. More than 80 percent of the healthcare leaders who participated in our survey selected “performance review systems” and “management/supervisor coaching and mentoring” as the areas that are most critical to their businesses.
  • Training, onboarding issues not far behind. About three-quarters of the survey’sparticipants selected “new hires and onboarding processes” and “professional learning solutions” as the most important operational areas of their businesses.
  • Traditional HR functions remain important. Core HR responsibilities such as benefits, compensation, leave policies, handbooks and interviewing are still top of mind for the operations professionals who participated in our survey. At least two-thirds of thehealthcare leaders who took part in our survey indicated that salary/wage benchmarking, employee handbooks, performance management, interviewing, time and attendance systems, disciplining, and employee benefit maintenance and process automation all were areas “most critical” to their businesses.
  • Workforce reduction functions not critical. Thirty-six percent or less of the survey’sparticipants indicated that “exit interviews” and “termination and off-boarding processes” are an important part of their day-to-day operations.
  • Managers mixed on recruiting efforts. Roughly half of the HR leaders who participated in the survey indicated that working through resumes, background and reference checking, and drug screening were a critical part of their day-to-day operations.

In the coming months, our new eletter will feature MedHQ thought leaders exploring these trends and other important issue areas for ASC administrators and healthcare operations managers. But we’d like this to be an ongoing discussion, so we always welcome feedback and encourage readers to suggest topic areas that we should cover in the future.

Let the conversation begin.

MedHQ at ASCA 2014

MedHQ staff will be exhibiting at ASCA 2014 at the Opryland Resort in Nashville, Tennessee. Stop by our booth to chat with MedHQ CEO Tom Jacobs about your ASC’s accounting and human resources needs.

In addition to exhibiting, Tom and other MedHQ staff will be attending the Surgery Center Professionals Linkedin group meet-up. The event will be an informal opportunity for peers in the ASC industry to have a drink and get to know each other. See below for the details.

What: Surgery Center Professionals Linkedin Group Meet-Up at ASCA 2014

When: Wednesday, May 14, 2014 at 7:15p.m. (Immediately following the welcome reception).

Where: Findley’s Irish Pub in the Opryland Resort.

ASCA 2014, May 14-17

MedHQ will be exhibiting at ASCA 2014 in Nashville, Tennessee, from May 14-17. Stop by the MedHQ booth and say hello to CEO Tom Jacobs, who will be available to discuss your health care human resources and accounting needs.

Tom and other members of the MedHQ staff will also be attending the Surgery Center Professionals Linkedin group meet-up, an informal social event the first night of the conference. Please see below for the meet-up details.

What: Surgery Center Professionals Linkedin Group Meet-Up at the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee.
When: Wednesday, May 14, 2014 at 7:15p.m. (Immediately following the welcome reception).
Where: Findley’s Irish Pub in the Opryland Resort.

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