Why Work With Millcreek Insurance Advisor

A: Medicare is a federal health insurance program for people 65 or older and some younger people with disabilities. It helps cover hospital care, doctor visits, and prescription drugs.

A: We help you understand your Medicare options, including Medicare Advantage, Medigap supplements, and drug plans. Our local advisors make choosing the right plan easy.

A: A deductible is the amount you pay out of pocket before your insurance starts to cover costs. For example, if your deductible is $1,000, you pay the first $1,000 of eligible medical bills.

A: We provide help with health insurance, life insurance, Medicare plans, supplemental insurance, group, employee benefits and disability. We guide you through choosing coverage that fits your needs and budget.

A: Yes, we assist with enrollment, plan comparisons, and questions about benefits. We make sure you understand your options before you decide.

A: Yes, working with Millcreek Insurance Advisors costs you nothing. We are paid by the insurance companies, so there is no extra fee for our help.

A: Most people qualify for Medicare when they turn 65. Some younger people qualify if they have certain disabilities or health conditions. We can review your situation to help you understand your eligibility.

Answer: A "small group" is typically defined as a business with 2 to 50 employees. To qualify for group health insurance, you generally need at least two full-time equivalent employees, excluding the owner and their spouse if they are the only two. The owner usually counts towards the employee count if they are on payroll. We'll help you confirm your eligibility based on your specific situation.

Answer: Group health insurance costs primarily include monthly premiums, which vary based on the chosen plan, carrier, employee demographics (age, location, tobacco use), and the employer's contribution strategy. Employers typically contribute a percentage of the employee's premium (e.g., 50% to 100%) and may also contribute to dependent coverage. Employees cover the remaining portion through payroll deductions, along with out-of-pocket expenses like deductibles, co-pays, and co-insurance when they receive care.

Answer: Under the Affordable Care Act (ACA), only "Applicable Large Employers" (ALEs) – those with 50 or more full-time equivalent employees – are federally mandated to offer affordable, minimum value health insurance or face potential penalties. For smaller businesses (under 50 employees), offering health insurance is not legally required, but it's a powerful tool for attracting and retaining top talent in Utah's competitive market.

Answer: Selecting the right plan involves considering your budget, desired employer contribution, and your employees' healthcare needs. We help you compare options from prominent Utah carriers such as SelectHealth (Intermountain Health Care), PEHP (Public Employees Health Program), Regence BlueCross BlueShield of Utah, UnitedHealthcare, and University of Utah Health Plans. We'll analyze network access (HMO, PPO, EPO options), plan benefits (deductibles, co-pays, prescription coverage, mental health), and ancillary benefits (dental, vision, life) to find the best fit.

Answer:

• HMO (Health Maintenance Organization): Typically requires you to choose a Primary Care Provider (PCP) and get referrals to see specialists. Generally has lower premiums but less flexibility outside the network.
• PPO (Preferred Provider Organization): Offers more flexibility, allowing you to see specialists without a referral and often providing some coverage for out-of-network care (though at a higher cost). Generally has higher premiums.
• EPO (Exclusive Provider Organization): Similar to an HMO in that it usually doesn't cover out-of-network care (except emergencies), but may not require a PCP referral for specialists within the network. We'll help you understand which network structure best suits your employees' preferences and your budget.

Answer:

• HSAs: Individual, tax-advantaged savings accounts that pair with high-deductible health plans (HDHPs). Both employers and employees can contribute, funds roll over year to year, and employees own the account.
• HRAs: Employer-funded accounts used to reimburse employees for qualified medical expenses. The employer owns the funds, and they typically don't roll over if an employee leaves. Both can be excellent tools for managing healthcare costs and offering flexibility. We'll help you determine which option aligns best with your company's financial strategy and employee benefits goals.

Answer: For group plans, Open Enrollment is an annual period (the timing is set by your specific plan and employer) during which employees can enroll in or make changes to their health benefits. This is your opportunity to review your plan's performance, consider new options, and allow employees to adjust their coverage. We manage the annual renewal process and assist with employee communications.

Answer: A "qualifying life event" (QLE) allows employees to make changes to their group health coverage outside of the standard Open Enrollment period. Common QLEs include marriage, divorce, birth or adoption of a child, loss of other health coverage (e.g., spouse's job loss), or a change in employment status. Employees typically have a limited window (e.g., 30 or 60 days) from the QLE date to make these changes, and supporting documentation is required.

Answer: Yes! Offering ancillary benefits like group dental and vision insurance is highly recommended and can significantly enhance your overall employee benefits package. These are often offered as separate plans, which can be employer-contributory (employer pays a portion of the premium) or employee-paid (employees cover the full premium). We can help you integrate these valuable benefits.

Answer: Key employer responsibilities include:

• Enrollment & Termination: Managing employee enrollment and terminations, and notifying the carrier promptly.
• Premium Collection: Collecting employee contributions (if applicable) and remitting total premiums to the carrier.
• ACA Reporting: If you are an ALE (50+ employees), you have specific annual reporting requirements to the IRS (Forms 1094-C and 1095-C).
• COBRA/Utah Mini-COBRA: You must offer federal COBRA (for groups with 20+ employees) or Utah's state-specific Mini-COBRA (for smaller groups, typically offering 12 months of continuation coverage) to employees who lose coverage due to certain events.
• Notices: Providing various notices to employees as required by state and federal law (e.g., Summary of Benefits and Coverage). We provide guidance and support to help you navigate these administrative duties efficiently.