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COBRA Qualifying Event Quandary

COBRA Qualifying Event Quandary

Medcom took some time this week to ask these five individuals the following question:

What is a COBRA Qualifying Event?

This is the picture of their answer…

That isn’t true, we didn’t ask the above stock photo individuals about COBRA qualifying events, but if we had it is very likely this would have been their answer.  In order to clear up any confusion, we would like to dig a bit deeper into COBRA: what does it mean, why do we have it, when and...

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The Dreaded 226J Letter

The Dreaded 226J Letter

Think back to when you were in college.  Did you have that one class that didn’t seem important?  Maybe it was a requirement for freshmen. Maybe it was a general education course that just couldn’t hold your interest.  Yet, when you turned in the final exam you had a feeling your lack of effort and interest would come back to haunt you.  Then, your grade posted and it haunted your GPA for the next four years!

Meet the 226J letter from the IRS.  It is the threat that...

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Declining Marketplace Numbers

Declining Marketplace Numbers

At first glance the chart below seems pretty straightforward.  The Affordable Care Act enrollment numbers began increasing in 2014 due to numerous factors and changes to the law, including, but not limited to, health insurance exchanges opening, federal subsidies were offered, small business tax credits were awarded, and restrictions on pre-existing conditions were lifted. Numbers increased greatly in 2015, slightly in 2016 and 2017, then began to decline in 2018, with a steep decline in 2019.

Yes, that is clear! ACA came into law, numbers increased.  President Trump was elected and promised to dismantle ACA in 2018, therefore the numbers decreased. The...

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All About HIPAA Privacy and Security

All About HIPAA Privacy and Security

Did you know that your self-funded health plan has to be HIPAA compliant??? First thing is first, let’s cover the basics:

HIPAA stands for Health Insurance Portability and Accountability Act.  HIPAA reduces health care fraud and abuse, mandates industry-wide standards for health care information on electronic billing and other processes, and requires the protection and confidential handling of protected health information. Stipulated privacy regulations require health care providers, organizations, and their business associates to develop and follow strict procedures that guarantee the security of protected health information (PHI). Confidentiality must be ensured when transferring, receiving, sharing,...

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