The new organisation will serve close to 2.4 m members in Massachusetts, Maine, Connecticut, New Hampshire and Rhode Island, offering employer-sponsored plans
; Medicare and Medicaid plans; Qualified Health Plans; and plans for those who are dually eligible for Medicare and Medicaid.
allow participants to take advantage of an employer match, tax-deferred growth, and a dollar-cost averaging all in one."
Those include an aging baby boomer population that has not saved enough for retirement, lack of access to employer-sponsored plans
in smaller businesses, too many low-income Americans without retirement savings, and inadequate lifetime savings.
OptumRx and UnitedHealthcare are expanding their consumer point-of-sale prescription drug discount programs to apply to all new employer-sponsored plans
, making medications more affordable and improving health outcomes.
RPS has been helping boost retirement readiness through employer-sponsored plans
for over five decades.
Lincoln Financial Group's Retirement Plan Services (RPS) business has been helping savers boost their retirement readiness through employer-sponsored plans
. The RPS business helps people understand how steps they take today can help them get to and through retirement tomorrow.
Enrollment in self-insured employer-sponsored plans
fell to 445,700, from 570,300.
Average employee premiums for all employer-sponsored plans
rose from USD 509 in 2016 for single coverage to USD 532 in 2017 and from USD 1,236 to USD 1,272 for family coverage (a 4.5% and 3% increase respectively).
"The bottom line is that employer-sponsored plans
are providing less income today than in the past," the report states.
Other sections of the new regulation package, Minimum Value of Eligible Employer-Sponsored Plans
and Other Rules Regarding the Health Insurance Premium Tax Credit (RIN 1545-BL43), deal with matters such as how families should count their children's income when trying to qualify for PPACA premium tax credit subsidies, and how the premium tax credit program should treat babies born in the middle of a month.
The number of employers affected would be relatively small at the start but would grow over time as more employer-sponsored plans
exceed the premium threshold that triggers the tax.
Without transparent accounting and recordkeeping and clear and enforceable "rules of the road." Imagine a world without employer-sponsored plans
or a robust annuity industry.