The increasing competition in the American job market is not just a global phenomenon – it’s happening right here in Canada, largely due to lower overhead and less strict worker requirements.
A brief history of health care in America
In 1776, John Adams wrote in his diary that “the natural tendency of every government is to oppress its citizens.” Two hundred years later, Adams’ writings would be proven prescient as the American Revolution ushered in a new era of self-governance and democracy – one in which a growing number of citizens sought to improve their health care options. Prior to the American Revolution, many colonists lacked access to basic health care due to a lack of resources and medical practitioners. This situation changed after the Boston Tea Party and the Declaration of Independence, when colonials began to form grassroots organizations and demand universal healthcare. Colonies such as Boston and Philadelphia soon became hubs of medical knowledge and innovation. It was here that pioneers such as Dr. Benjamin Rush advanced public healthcare using methods such as inoculations against diseases such as smallpox. The Revolutionary War also led to the founding of America’s first hospital, The General Hospital in Philadelphia. Built on land donated by Philip Freneau, the hospital served as a main base for military surgeons during the war. After the war, the hospital became a permanent fixture of American medicine and cared for wounded soldiers returning from battle until it closed in
Benefits of Employee Health Insurance
Since 2007, weill Cornell has offered subsidized health insurance to employees. The benefits of this policy include coverage for preventive care, prescriptions, doctor visits and hospital charges. Employees can also use the insurance to cover abortion and mental health care. The program is one of the most generous employee health insurance policies in the country. In addition, it is provided through a company-sponsored plan and not through an insurance provider. This means that employees are completely responsible for any fees associated with the policy, such as premiums and co-pays. The benefits of having employee health insurance are clear. Not only does it provide financial security during times of need, but it also helps to reduce expenses associated with health care. By providing coverage for preventive care, for example, employees can avoid costly hospitalizations and doctor visits in the future. Weill Cornell’s policy offers a wide range of benefits, and it is easy to get started. Simply ask your HR representative if you would like to participate in the policy, and you will be enrolled without delay. If you have any questions about the program or your coverage, don’t hesitate to contact us.
How does a Health Care Exchange work?
When President Obama signed the Affordable Care Act in March of 2010, he made the promise that by 2014, all Americans would have access to quality, affordable health care. In order to make this happen, the president established a Health Care Exchange – or marketplace – where individuals and businesses can purchase health insurance. The Health Care Exchange is online and open to everyone in the U.S. regardless of their health status, income, or location. You can find out more about it by visiting healthcare.gov. The way the Health Care Exchange works is simple. You browse through a variety of plans and choose the one that best suits your needs and budget. Then, the Health Insurance company takes care of everything else – paying for your coverage, setting up your account, and sending you periodic billing statements. Of course, there are some things you need to know before you go shopping for health insurance on the Health Care Exchange. First and foremost, you need to understand what type of coverage is available to you and what prices vary among these plans. Second, be sure to compare apples-to-apples so you don’t end up spending more money on a plan that doesn’
Why does Healthcare Reform Hurt small business?
Healthcare reform is sweeping the country, and it’s happening in a big way. Businesses are scrambling to adapt as they learn about how much tax they need to pay, how new regulations will be implemented and what changes will impact their bottom line. But one group that is especially affected by healthcare reform is small businesses. Here’s why: Since healthcare reform was introduced, small businesses have been struggling with a new set of rules – ones that impact both their employees’ health insurance and the way their companies are taxed\. Small businesses have fewer resources to absorb these added costs, and this has had an immediate financial impact on them. In fact, according to the National Federation of Independent Business, small businesses have already seen their revenue shrink by an estimated 1.5%. Healthcare reform is likely to cause even more damage in the long run, as it has created a massive increase in compliance costs for small businesses. As we’ve seen, healthcare reform creates a lot of challenges for small businesses. But there are ways that they can overcome these challenges. One important step is understanding exactly how healthcare reform affects your business. Make sure you’re fully informed about all of the changes so you can make informed decisions about how to best
Weill Cornell’s health insurance premiums are based on a number of factors, includin…
What are the Tax Form 1093b and 4563?
The Tax Form 1093b is used to report employee health insurance payments. The form is sent to the IRS every year and requires information regarding the amount of premiums paid, the name and contact information for the insurer, as well as the date of payment. The Tax Form 4563 is used to report an employee’s share of premiums paid on Employee Health Insurance Benefits. The form is sent to both the employee and their employer, and requires information on benefit amount, whether tax was withheld from premiums, and name and contact information for the insurer.
Weill Cornell employees have access to a number of benefits, including health insurance. The coverage options available to employees range from traditional employer-sponsored plans to arrangements that are tailor-made for the individual employee. In addition, Weill Cornell offers a variety of discounts and special rates on health care products and services. Contact your Human Resources representative for more information about these and other benefits.