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AN EASY-TO-USE TOOL TO MODEL THE FINANCIAL IMPACT OF PPACA

As a result of The Patient Protection and Affordable Care Act (PPACA), employers with more than 50 employees will be required to provide minimum essential health coverage effective January 1, 2015 or pay certain penalties. PPACA also imposes an excise tax on high cost plans starting in 2018.

Verisight’s easy-to-use web-based application is the right solution. Enter the demographic and plan data and “PPACAcalc” delivers a simple, yet powerful analysis of enrollment and financial projections necessary to make informed decisions. Verisight’s credentialed health actuaries developed PPACAcalc, a technically rigorous, user-friendly, cost-effective modeling tool. Whether you are creating models for one company or many companies, PPACAcalc is the right tool to model a customized PPACA financial impact study.

PPACAcalc reports may be co-branded with your company name so as you are creating models, your name is clearly displayed on every document.

PPACAcalc assesses the financial impact of “Play or Pay” requirements on medical plans under the following scenarios: 

  • Employer maintains their current plan design offerings and employee contribution strategy
    • Compares projected 2014 baseline costs without PPACA to projected employer cost under PPACA
    • Estimates the number of employees migrating to a state exchange and the number of employees currently waiving coverage who will migrate to the employer plan
    • Quantifies the dollar amount of employer penalties, with an adjustment to reflect the lack of tax deductibility of the penalties
  • Employer stops offering group medical insurance coverage in 2014
    • Estimates the financial impact on the employer’s expense as a result of dropping medical plan
    • Estimates the financial impact on employee’s expense who will purchase health insurance coverage on a state exchange
  • Employer offers a 60% actuarial value plan in 2014
    • Compares projected 2014 baseline costs without PPACA to projected employer cost under PPACA
    • Estimates the number of employees migrating to a state exchange and the number of employees currently waiving coverage who will migrate to the employer plan
    • Quantifies the dollar amount of employer penalties, with an adjustment to reflect the lack of tax deductibility of the penalties

PPACAcalc provides an actuarial estimate of the employer’s excise tax liability in 2018 based on its current level of per capita cost:

  • Excise tax estimates are made separately for each plan design
  • PPACAcalc incorporates the current level of FSA or HSA contributions made under the medical plan
  • PPACAcalc allocates the tax between the employer and an insurance carrier when applicable

Click to view the PPACAcalc sample reports.

Verisight Sample 2014 Report Verisight Sample 2018 Report

2014                                  2018

Contact us to learn more about PPACAcalc including fees, volume pricing, and how to start modeling today.

Verisight Sample 2014 Report Verisight Sample 2018 Report
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WHAT'S NEW?

October 23, 2014
Verisight will be hosting a series of 401(k) Boot Camps in November for our 401(k) plan sponsor clients.  Invitations to this 3 part series can be downloaded here.

This program will provide tools to help in-house plan sponsor staff operate their retirement plan correctly. Over the course of 3 webcasts, Verisight will cover basic in-house 401(k) operations from the employer’s perspective to give your team information to help avoid common operational errors.

October 15, 2014
The Newport Group, Inc. and Verisight, Inc. today announced they will be joining forces to increase the size, scale and reach of their respective businesses. Under the terms of the agreement, the holding company of Verisight. Read the full release.

March 18, 2014
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Verisight, Inc., a privately-held, national corporation that offers comprehensive retirement plan services and consulting solutions announced the hire of Ross Brown as Senior Vice President of Institutional Sales. Read the press release.

January 28, 2014
Adviser Relationships Key in Acquisition. Last week, Verisight, Inc. announced it is acquiring retirement and benefit plan service provider DailyAccess Corporation and its subsidiaries. Read the full article.