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WE GO BEYOND
THE NUMBERS
FOR YOU.
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the Affordable Care Act (ACA) has been a
struggle, company owners are not excused
from their obligations under the law, and
many are already being forced into the mar-
ketplace as some carriers cancel existing
healthcare plans for individuals and small
businesses.
Connecticut energy marketers can
turn to a familiar source for new benefit
programs,
because the Connecticut
Energy Marketers Association (CEMA) has
launched the CEMA Health & Employee
Benefits Marketplace in partnership with
gbac inc.
The New England Fuel Institute (NEFI)
is also seriously considering launching a
private benefits marketplace in conjunction
with the Massachusetts Energy Marketers
Association for industry participants in
Massachusetts. ANEFI health and employee
benefits marketplace could also serve mar-
keters across the region, according to NEFI
President and CEO Michael Trunzo.
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Regardless of where companies turn for
help, many will be forced to rework their
healthcare programs to comply with the
ACA, according to Joseph A. Bucci Jr., Chief
Financial Officer for gbac. Carriers have
been notifying companies that their existing
healthcare plans are no longer available.
“For company owners nothing has
really changed in terms of how the ACA
affects them or their employees,” Bucci said.
“The major change is with the health plans,
as current health plan offerings are being
discontinued as of January 1, 2014 – and
being replaced by ACA-compliant health
plans – coupled with premium increases
in most markets. Employers are scratching
their heads trying to determine where the
better, more affordable health coverage is.”
Health insurance carriers are not leaving
the marketplace but rather are meeting their
obligations under the ACA, also known as
Obamacare, by offering new plans that con-
form with the ACA’s requirements. Bucci
told
Oil & Energy
that many companies are
waking up to the need to address offering
healthcare insurance and employee ben-
efits in general. “The talent pool for many
business sectors is shrinking, and business
owners are being forced to decide how to
attract and retain good talent.”
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CEMA just completed a series of
regional meetings, where Bucci spoke about
the new CEMA Health & Employee Benefits
Marketplace. During his presentations, he
would ask how many in attendance had
thought about dropping health insurance,
and some hands would go up. He would
explain that they were never required to r offe
healthcare in the first place. “Obamacare just
made it apparent that now there are more
options,” he said. “That is a good dialog.
It makes them think differently. Employers
are also realizing that the law was created
for the uninsured. It’s not really a place
for companies to go out and get something
better or cheaper or more effective. Business
owners are starting to think about why and
how they offer benefits.”
Employee Benefits
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