HM Insurance Group Offers Stop Loss Clients Tools To Help Clarify The Impact Of ACA Taxes And Fees On Self-Insured Groups

PITTSBURGH, May 29, 2013 /PRNewswire/ -- HM Insurance Group has created new tools to assist with calculating and understanding the impact of Affordable Care Act (ACA) taxes and fees on self-insured groups. The company's fee calculator* and quick-reference sheet provide producers information to share with their clients to help them gauge the impact ACA taxes and fees have on their current coverage.

"As a stop loss carrier that provides protection to self-insured groups, we are pleased to be able to help our clients evaluate the financial impact of ACA reform measures," Matt Rhenish, senior vice president, strategy and marketing, said. "The complexities of reform have producers and groups on edge, and HM has made it a priority to help provide some much needed clarity."

HM's ACA fee calculator is an illustrative tool that auto-calculates the major ACA fees to show the costs involved, as well as the fee differences between fully insured and self-funded plans based on group size, cost of coverage, etc. The tool also graphs the comparison. For access to the calculator, producers should contact their regional HM sales rep.

The HM ACA fees reference sheet helps explain the cost impact of taxes and fees relating to health care reform. The document is a good quick-reference guide to how each fee impacts a group's coverage costs. Find the HM ACA fees reference sheet on hmig.com.

*This fee calculator is for general informational purposes only and is not intended to constitute legal advice or a recommended course of action in any given situation and should not be relied upon in making decisions of a legal nature. Please note that the information obtained from this tool is based on our understanding of the Patient Protection and Affordable Care Act of 2010, as amended, and guidance as of the date of this publication.

About HM Insurance Group
HM Insurance Group (HM) works to protect businesses and their employees from the potential financial risks associated with health costs. Our product portfolio provides producers with health risk solutions that address a range of risk situations confronting employers, employees, health care providers and individuals. A recognized leader in employer stop loss, HM also offers HMO reinsurance and provider excess.

In addition to the reinsurance products, HM provides workers' compensation in Pennsylvania only, and the company is recognized as being among the fastest growing workers' compensation carriers in the state.¹ HM also offers group supplemental insurance – critical illness, accident, disability income and term life – nationally through strategic distribution partners and individual critical illness and accident insurance plans in Pennsylvania and West Virginia.

HM Life Insurance Company, HM Life Insurance Company of New York, Highmark Casualty Insurance Company and HM Casualty Insurance Company are rated "A-" (Excellent) by A. M. Best Company, one of the country's oldest and most respected rating agencies. HM also has been named to Ward's 50 top life and health carriers based on financial performance.² Through its insurance companies, HM Insurance Group holds insurance licenses in 50 states and the District of Columbia and maintains sales offices across the country.

¹A.M.Best. Best's Market Share Reports (5-year trend study), April 2013.
²Ward Group, Top 50 Life and Health Companies, July 2012

SOURCE HM Insurance Group