ABO Developments - Spring 2014 - (Page 15)

The ABO-NYSBA Private Health Insurance and Employee Benefit Marketplace Is your Affordable Care Act-compliant employee benefits program all set up and ready to go? O f course it isn't. Saddled with 25,000 (and counting) pages of regulations written by three federal agencies, the 2,700-page Affordable Care Act is the biggest revamp of healthcare fi nance since Medicare in 1965. Its mandates for small businesses require virtually rebuilding their employee benefits programs from the bottom up. Now there is a better solution. ABO has teamed with the New York State Builders Association and the national employee benefit consulting firm GBAC Association Practice Group to launch a Private Health Insurance and Employee Benefit Marketplace. The Marketplace utilizes a comprehensive, powerful and user-friendly web-based platform that aggregates all employee benefits and the carriers that sell those benefits in one convenient, safe place for our members to use. The Marketplace's online portal allows the employer to select from the benefits, carriers and plans offered through ABONYSBA. Employees log on to the website to choose the plans that suit them, the level of deductible they want and their monthly contribution. While it employs a web-based interface, that is where the similarity with the Affordable Care Act marketplace ends. According to Eugene Guilford of GBAC, which created the technology and administers the ABO-NYSBA Marketplace, "First and foremost, the difference between our marketplace and the government exchange is that ours works." Leveraging the Power of the Trade Association "This type of health care exchange is something that is available now mostly to very large companies with tens of thousands of employees," says ABO executive director Dan Margulies." When it is launched in May, 2014, he adds, "the employee benefits Marketplace will bring the technology to make it affordable for someone with three or four or 10 employees." By combining the collective buying power of thousands of Association members, each purchasing their health insurance and other benefits for tens of thousands of their employees and dependents, the NYSBA Health and Employee Benefits Marketplace creates the kind of leverage and market competition among insurance carriers enjoyed until now solely by giant companies like Sears, Anheuser Busch or Walgreens. "This is why we exist as a trade association," says Guilford-"to use our collective strength to good purpose. Leveraging our buying power is what the Marketplace is all about." Change is Coming, Like it or Not "The employer mandate is coming into effect the end of this year," adds Margulies, "and with more t han 25,000 pages of regulations, it's going Spring 2014 | 15

Table of Contents for the Digital Edition of ABO Developments - Spring 2014

A Message from ABO Executive Director Dan Margulies
BuildingsNY 2014 Bigger Than Ever
Special Education Sessions
The ABO-NYSBA Private Health Insurance and Employee Benefit Marketplace
Succession Planning To Avoid Landmines, Seek Advice Outside t he Family
The de Blasio Administration
Index of Advertisers / Advertisers dot com

ABO Developments - Spring 2014