Providing Employee Incentives to Waive Coverage
Last summer the federal government funded a new, temporary high-risk insurance pool with $5 billion to cover individuals who cannot obtain private coverage prior to 2014.
A new employer compliance obligation now exists, that is designed to protect those federal funds: The federal government will seek reimbursement to their high risk pool when a claim is incurred by someone who waived employer-sponsored health coverage in exchange for an incentive.
Based on the sparse guidance currently available from the federal government, HUB recommends that employers dismantle incentives.
Download HUB Client Bulletin to learn more.