Provide brief education for business owners and HR professionals on the current market conditions that favor adding Voluntary Benefits to their benefits portfolio.
Provide brief education for business owners and HR professionals on the current market conditions that favor adding Voluntary Benefits to their benefits portfolio.
This session focuses on Ed Health, a medical stop loss group captive consisting of 11 Boston-area colleges that Spring assisted in the development of. It details Ed Health’s success to date and lessons learned through the development and ongoing management of a medical stop loss group captive.
ISCEBS 2014 Presentation: Health Care Reform’s Impact on Disability ManagementSpring Consulting Group
Recently, Spring Consultants Karen English and Kimberly Mashburn presented at the annual ISCEBS conference. They explore how Disability Management has been impacted by recent US health care changes brought on by the implementation of the Affordable Care Act (ACA)
Beneplan is an employee benefits co-operative representing tens of thousands of Canadians. Members receive premium refunds when their claims are low. To learn more, visit beneplan.ca.
Discussion Question (250-300 words long) Describe the princip.docxelinoraudley582231
Discussion Question: (250-300 words long)
Describe the principles of fee-for-service plans and managed care plans. What are the similarities and differences?
I want you to discuss and answer this question and to help you to do so I will upload a PowerPoint file helping you to answer this question.
Here are two of the classmates responses to this question read it and try to connect their responses to your answer and discussion.
Gabrielle
Fee-for-service plans (FSS) and managed care plans are both classes of insurance programs. In fee-for-service plans, the doctors and hospitals get paid for the service that they perform and test that they order. This plan provides protection against health care expenses in the form of a cash benefit that is paid to the insurer or directly to the health care provider after the employee has received health care services. However under this plan, the insurance company determines a deductible for the patient to pay and then they are responsible for the remainder of the amount. Under managed care plans, the plans emphasize cost control by limiting the patient’s choice of doctors and hospitals that they can use. The plan provides a list of physicians and hospitals that the plan holder can use at a reduced price.
These plans are both similar because they offer a reduced price for medical and health coverage. Some differences between the two include how a patient can choose a physician or hospital. Under FSS, you can see a physician whenever you want or feel necessary. However, under managed care, when you see only the physicians that are affiliated with the plan, they then receive a strong financial incentive.
Trevor
The principles of a fee-for-service plan include a health insurance programs that that use cash benefits in order to help protect employees of an organization from expense that come from health care. Some things that are covered by this are physician charges, hospital expenses, and surgical expenses. One type of these service plans are indemnity plans. These plans are when the insurance company and the employer have a contract that specifically covers certain expenses. The next type of these plans are self-funded plans. These plans are when a company pays benefits from their own assets. Managed care plans control costs by limiting employee's decisions on doctors and hospitals. Fee-for-service plans and managed care plans are similar because they both provide health insurance for employees. Managed health care plans are more confusing because they have so many specifications, meanwhile fee-for-service plans is more basic that offers cash benefit for expenses.
until after a probationary period of at least three months so that they can prove that they are going to be great asset to the company.
Instructions:
1. Login to our database using the phpmyadmin.soe.ucsc.edu interface.
2. Develop SQL query to answer each question.
3. In a WORD compatible document and for each question:
· State .
This session focuses on Ed Health, a medical stop loss group captive consisting of 11 Boston-area colleges that Spring assisted in the development of. It details Ed Health’s success to date and lessons learned through the development and ongoing management of a medical stop loss group captive.
ISCEBS 2014 Presentation: Health Care Reform’s Impact on Disability ManagementSpring Consulting Group
Recently, Spring Consultants Karen English and Kimberly Mashburn presented at the annual ISCEBS conference. They explore how Disability Management has been impacted by recent US health care changes brought on by the implementation of the Affordable Care Act (ACA)
Beneplan is an employee benefits co-operative representing tens of thousands of Canadians. Members receive premium refunds when their claims are low. To learn more, visit beneplan.ca.
Discussion Question (250-300 words long) Describe the princip.docxelinoraudley582231
Discussion Question: (250-300 words long)
Describe the principles of fee-for-service plans and managed care plans. What are the similarities and differences?
I want you to discuss and answer this question and to help you to do so I will upload a PowerPoint file helping you to answer this question.
Here are two of the classmates responses to this question read it and try to connect their responses to your answer and discussion.
Gabrielle
Fee-for-service plans (FSS) and managed care plans are both classes of insurance programs. In fee-for-service plans, the doctors and hospitals get paid for the service that they perform and test that they order. This plan provides protection against health care expenses in the form of a cash benefit that is paid to the insurer or directly to the health care provider after the employee has received health care services. However under this plan, the insurance company determines a deductible for the patient to pay and then they are responsible for the remainder of the amount. Under managed care plans, the plans emphasize cost control by limiting the patient’s choice of doctors and hospitals that they can use. The plan provides a list of physicians and hospitals that the plan holder can use at a reduced price.
These plans are both similar because they offer a reduced price for medical and health coverage. Some differences between the two include how a patient can choose a physician or hospital. Under FSS, you can see a physician whenever you want or feel necessary. However, under managed care, when you see only the physicians that are affiliated with the plan, they then receive a strong financial incentive.
Trevor
The principles of a fee-for-service plan include a health insurance programs that that use cash benefits in order to help protect employees of an organization from expense that come from health care. Some things that are covered by this are physician charges, hospital expenses, and surgical expenses. One type of these service plans are indemnity plans. These plans are when the insurance company and the employer have a contract that specifically covers certain expenses. The next type of these plans are self-funded plans. These plans are when a company pays benefits from their own assets. Managed care plans control costs by limiting employee's decisions on doctors and hospitals. Fee-for-service plans and managed care plans are similar because they both provide health insurance for employees. Managed health care plans are more confusing because they have so many specifications, meanwhile fee-for-service plans is more basic that offers cash benefit for expenses.
until after a probationary period of at least three months so that they can prove that they are going to be great asset to the company.
Instructions:
1. Login to our database using the phpmyadmin.soe.ucsc.edu interface.
2. Develop SQL query to answer each question.
3. In a WORD compatible document and for each question:
· State .
2016 Presentation to the Benefits Committee of the TSA Texas Sign Association on the concept of self-insured group medical stop loss captive for employee health insurance.
Chapter 6Alternative Responses and Initiatives of Institutions aJinElias52
Chapter 6
Alternative Responses and Initiatives of Institutions and Professions
Nongovernmental health care organizations provide most medical services and handle the financing of much of the system. For-profit and nonprofit institutions operate side by side, often competing directly for the same business.
This chapter identifies a number of strategies that individuals and organizations adopt in response to governmental programs or initiate on their own to influence health policy. We start with Table 6-1, which outlines the actors and the alternatives for responding to government actions and the marketplace. Where alternatives have been addressed and terms defined in earlier chapters, we try not to repeat that information.
6.1 COMMON RESPONSES
All of the players listed in Table 6-1 employ strategies to influence the marketplace and its regulators. These can be classified into three main types of interventions:
• Public relations
• Marketing and education
• Lobbying
Table 6-1 Responses and Initiatives of Institutions and Professions
Common Approaches
• Public relations
• Marketing and education
• Lobbying
Payers
• Employers
• Eligibility
• Subsidy offered
• Plans offered
• Relationship with insurers/self-insurance
• Worker education and training
• Insurers
• Method of organization
• Method of payment
• Plans offered
• Case management/carve-outs
• Utilization constraints
• Consumer education
Providers
• Professionals
• Organization of practice
• Services offered
• Incentives
• Pricing
• Patient relationships
• Primary versus specialty care
• Efficiency
• Institutions
• Organizational structure
• Scope and scale of services
• Pricing/discounts
• Efficiency
• Quality improvement
• Consumer information
• Credentialing decisions
• Involving payers in change processes
• Professions
• Quality improvement
• Provider education
• Consumer education
Consumers
• Plan selection
• Provider selection
• Self-help
Each player manages its relationships with the media and with politicians and regulators directly, and each acts indirectly through trade associations and professional groups. You will see illustrations of this throughout the cases included in this text and in subsequent chapters dealing with political feasibility and values. The focus of each intervention changes depending on the nature of the specific market. Lobbying is particularly intense in administered markets such as Medicare and Medicaid, especially when new legislation is under consideration. Lobbying also goes on continuously with the relevant executive branch agencies. Public relations and education are used more assertively when regulators are considering changes, and marketing, especially advertising, is most intense where the market is less regulated. The term education can apply to the many different types of efforts to influence behavior. Government antismoking campaigns can be characterized as education, for example, but the term can also ...
Compensation plans usually include a variety of benefits. Name the t.pdfaishwaryaequipment
Compensation plans usually include a variety of benefits. Name the three benefits that would be
most important to you as part of your personal compensation package.
Solution
three benefits that would be most important to you as part of your personal compensation
package.
are
Retirement Benefits
Retirement benefits are funds set aside to provide people with an income or pension when they
end their careers. Retirement plans fit into two general categories:
In defined benefit plans (sometimes called pension plans), the benefit amount is pre-determined
based on salary and the years of service. In these plans, the employer bears the risk of the
investment.
In defined contribution plans (such as a 401k plan), employer or employee contributions are
specified, but the benefit amount is usually tied to investment returns, which are not guaranteed.
Minnesota Facts:
Most full-time workers in Minnesota are offered access to retirement benefits. Sixty-four
percent are offered a defined contribution. Only 15.6 percent are offered a defined benefit
program.
Defined benefit plans are offered most frequently in those sectors with the highest levels of
unionization. These include public administration, construction, manufacturing, and trade,
transportation, and utilities.
Life and AD&D
Most employers design their plans with a provision to protect the employee and/or their family
in the event of Accidental Death or Dismemberment (AD&D). Employers often provide basic
coverage as a factor of the employee.
finance in dentistry is based on soben peter article said about the varies methods of financing in the world for dentistry and which i included some indian methods in financing as well as kerala.
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What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
1. Prepared by: 915357702, 915467490
TRINSEO 1000 Chesterbrook Blvd. Suite 300Berwyn, PA 19312
TRINSEO BENEFIT PLAN
ANALYSIS
2. 1
Table of Contents
Section I: Firm Background p.2
Section II: Benefits Inventory Summary p.4
Section II: Inventory of Health and Welfare Benefits p.5
Section III: Analysis of Decision Making and Plan Design p.6
Section IV: Healthcare Plan Design and Impact of the ACA p.9
Thank You Email p.11
3. 2
Section I:
Trinseo is both a global solutions provider and a manufacturer of plastics, synthetic
rubber, and latex binders. They did $4.4 billion in revenue worldwide in 2017, and have
approximately 2,200 employees worldwide in their sixteen manufacturing sites and ten research
and development facilities. The six business segments Trinseo specializes in are latex binders,
synthetic rubber, performance plastics, polystyrene, feedstocks, and americas styrenics. Their
business segments are the solutions utilized by companies who manufacture products ranging
from LED lighting to tires.
The headquarters of Trinseo is located in Berwyn, Pennsylvania. The benefit plan for
employees and their dependents in the United States has ninety percent participation and covers
761 lives; 324 employees and 437 dependents. These dependents are made up of employee
spouses and children.
Prior to June 2010, Trinseo was known as Styron. Styron became in an independent
company in June 2010, splitting from three independent companies they had been grouped
together with under the Dow. From the moment that split occurred, Styron began to self-insure
their health and wellness employee risk. In June 2014, Styron changed its name to Trinseo and
became “TSE” on the NYSE. Trinseo’s competition includes companies such as DowDuPont
Inc., Eastman Chemical Company, and Westlake Chemical Corporation.
At Trinseo, there are three people who have a hand in total compensation plan design:
Dina Conkright, Director of HR-Americas; Ed Markowski, Global Director-Total Rewards; and
Sally Waters, Benefits Manager-Americas. Ms. Waters has the largest role in plan design,
dealing directly with the brokers and consultants. Mr. Markowski has little contact with the
4. 3
brokers and consultants but has the largest role in implementing, communicating, and overseeing
the benefits plan.
Trinseo contracts with Trion and PwC for employee benefits management and their
brokering services, and statistical analyses, respectively. Trinseo relies heavily on these services
because they self-fund for their medical expenses, short-term disability, and dental coverage.
6. 5
Trinseo has a different definition of “full time” than the Affordable Care Act (ACA)
does, an employee who meets either definition of “full time” is able to receive almost every
benefit Trinseo offers. A majority of Trinseo’s benefits are also offered to many other employee
segments, which are referred to as "less than full-time employees." These benefits are also
offered to dependents of these employees, which includes children, spouses, and domestic
partners. Per the ACA, dependent children are eligible for benefits until the age of twenty-six.
All of the benefits listed can be accessed by employees on the date of hire, except for retirement
benefits and life and accidental death and dismemberment (Life and AD&D). Retirement
benefits are available after employment ends, and life and AD&D benefits are available the first
day of the month following their completion of thirty days of service.
Trinseo helps manage exposures associated with medical expenses by offering two
medical coverage options to employees. Both of these options are self-funded, Preferred Provider
Organizations (PPOs) sponsored by Blue Cross. The first PPO option has a lower deductible and
cost-sharing responsibility compared to the second, "catastrophic" plan. These PPOs are both
offered on a contributory basis and are coupled with a prescription drugs plan. In addition to the
health plans themselves, Trinseo offers employees access to two employee-funded Flexible
Spending Accounts (FSA) that employees can contribute to for medical and dependent coverage.
Employees can also manage dental and vision exposures through the coverage Trinseo offers
through Delta Dental and Vision Service Plan, respectively, and these coverages are offered on a
contributory basis as well. Dental coverage is self-insured and offered similarly to the PPOs in
that employees have a choice of a more comprehensive, more expensive plan. Vision is fully
insured, and there is only one option for employees to choose from.
7. 6
In order to protect employees from loss of income, Trinseo offers life and AD&D, short-
term disability, long-term disability, and business travel accident coverage to employees. All of
these base plans are offered on a non-contributory basis, with the option for “buy-up” plans for
life and AD&D and long-term disability. These “buy-up” plans are offered on a contributory
basis, where the employee can purchase extra coverage above the maximum of what Trinseo
provides. All of these benefits are fully insured, except for short-term disability.
Trinseo assists employees who are saving for retirement in a 401(k) plan by offering
matches on employee contributions. They match 100% of the first 2% and 50% of the next 4% of
employee contributions to their 401(k) plan. Employees can also take advantage of the Employee
Assistance Program which gives employees access to consultants in order to make better
decisions in regard to their health, free of charge.
Section III
Trinseo offers two PPO plans which are funded and provided through Blue Cross
nationally, on a contributory basis, they offer because of their networks. Given Trinseo’s diverse
employee base, other types of closed network plans would not be able to provide the in-network
coverage that a PPO offers. The ease of access to a network of quality doctors keeps the
incentives to stay in network stronger with a PPO, as opposed to other types of managed care
organizations. Trinseo participates in cost sharing through coinsurance. They cover 80% of the
cost and employees pay the remaining 20%. Both plans are PPOs but offer slightly different
benefits.
The decision to offer two plans allows for separation of employees with higher cost or
more diverse health needs. The ability to have more coverage, though, is more expensive due to
8. 7
increased deductibles and cost-sharing of the "catastrophic" PPO. This decision making process
is the same for their dental plan options, which similarly have a base option and a “catastrophic”
option, as described by Conkright. The reason for offering only one vision plan is because the
vision plan acts as a discount plan rather than a true insurance plan; giving employees discounts
dependent on product and location of purchase. Employees are able to switch plans should they
experience a qualifying life event: marriage, divorce, or birth were examples provided.
One of the PPOs offered has dental and vision bundled with it, and the other does not.
According to Trinseo figures, the bundled dental and vision, lower cost PPO has about a 90%
participation rate. This allows the more expensive health and dental plans to act as true
catastrophic, high-risk plans. With lower participation, these plans create a separated group of
higher risk employees who are paying appropriate prices for their coverage. The PPOs biggest
differentiators are amounts of cost-sharing, deductibles, and coinsurance, with coverage
extended to dependents on both plans. Trinseo offers prescription drug coverage through a
program designed by Express Scripts. Trinseo does this for the cost advantage: their employees
are too diverse to manage a custom plan.
Trinseo self-funds their healthcare cost, though have an ASO contract with Blue Cross.
On its face, the plan comes from Blue Cross and Blue Cross manages the claims. This contract,
and decision, mainly serves a geographic purpose. Trinseo has been self-funding their healthcare
benefits since the day they split from the Dow. The company had been self-funding already, as a
piece of the larger business, and was simply comfortable in their funding stance. Trinseo’s
employees are spread all across America, covering 45 states, and their plants are stationed
around the globe as well. Management is mostly headquartered in Berwyn, Pennsylvania.
9. 8
Additionally, about fifty employees work from home around the globe. Trinseo uses Blue Cross
coverage because of their international coverage and relative ease of administration.
Trinseo’s decision to create the FSA the FSA, disability, and life and AD&D plans as
Section 125 comes from their history as a former Dow employer. These benefits are ones the
company has determined “optional” relative to their benchmarking analysis of competitors.
Conkright, Director of HR - Americas, was quick to respond some veteran employees’ distaste at
the new benefits, versus what they had before, as a part of a much larger organization.
Specifically, perhaps the largest change was the adjustment in employer-employee premium
contribution: from a 90/10 contribution split to now 80/20. The distaste was so strong, Trinseo
went as far as to send out Conkright and Markowski on “road shows” to educate employees on
healthcare cost and reduction measures.
Trinseo’s strategy when performing benchmarking analyses is to “meet the benchmark,”
according to Conkright and Waters. This means they want to be at industry standards for total
compensation and benefit plans. This is evident in their voluntary benefit participation. Despite
low enrollment, Trinseo’s voluntary benefits enrollment is standard across the industry, via their
benchmarking analysis.
As for voluntary benefits, Trinseo offers two FSAs, and buy up plans for long-term
disability (LTD), life insurance and AD&D. One of the FSAs offered is for medical expenses,
and the other is for dependent care. Each FSA adheres to two and one-half month carry forward
provision, as outlined by the ACA. Trinseo did not always have FSAs, and the decision to
implement them was facilitated by the change in the employee health cost structure.
In the case of the “buy-up” options for life insurance and AD&D, the “buy-up” is an
additional benefit since employees receive base versions of these benefits. Trinseo’s logic for
10. 9
offering these benefits are the same as the vast employer populations’. Utilizing short-term
disability (STD), LTD, and life and AD&D allows for employees to receive the proper care,
time, and support needed for rehabilitation, therefore, allowing for a faster and smoother return
to the workforce. Additionally, Trinseo bundling their life and AD&D coverage allows for
negotiated discounts, that can then be passed on to their employees.
Trinseo also offers an Employee Assistance Program (EAP). The program essentially
operates with two core functions: the first service is proactive in nature, operating as a referral
service for self-or manager-referral for help from counselors/consultants. This service is to allow
proactive identification for common issues, such as: eating healthy foods, staying healthy over
holidays, and family trauma. The second provides reactive resources and access for information
on services such as natural disaster relief/shelter, child care, elder care, and various home
services.
Section IV
The most substantial part of Trinseo’s benefit plan options impacted by the ACA is their
cost. In preparation for the ACA, Trinseo made the strategic decision to minimize changes to
their benefits offered. With this decision comes an increased cost of administering compliance.
In order to accomplish this, Trinseo hired and continues to hire third parties to help with ACA
compliance. Waters was placed in charge of ACA administration within the company. She works
side by side with PricewaterhouseCoopers (PwC) and Trion to ensure Trinseo’s compliance.
PwC provides all of Trinseo’s actuarial analyses and actuarial consulting, and Trion provides
their benefits consulting. These increased costs of hiring outside firms, along with the increased
administrative costs involved with ACA documentation, are costs Trinseo is willing to pay in
order to achieve minimal changes to their benefit plans while remaining compliant.
11. 10
In regard to specific ACA requirements, PwC’s actuarial data helps provide Trinseo the
actuarial values needed to make sure their health plans are of minimum value. Trinseo was
within applicable large employer requirements before 2015 and remained within those
requirements during 2016. This meant that they were able to prepare and maintain their
compliance with the employer shared responsibility provision. The broad definition of minimum
essential coverage is congruent with Trienseo’s plan, which contributed in them not having to
substantially change their plan design.
While Trinseo and the ACA have conflicting definitions of full-time employment,
Trinseo offers a comprehensive benefits plan to all four of the employee categories mentioned in
Section II. This helps mitigate any potential issues with the conflicting definitions and allows
Trinseo to save on what would be increased costs that could come with offering more benefits to
a larger group of employees.
According to Waters, Trinseo is not overly concerned about the Cadillac tax. The
company runs cost numbers semi-annually to monitor how close they are approaching the limits
set forth by the proposed tax. They have not yet come close. As stated in Section III, Trinseo has
a high deductible health plan attached to one of their two PPO options. Markowski expressed the
firm’s consideration of adding a health savings account in order to make the high deductible plan
qualify as a consumer-driven health plan. This decision would take place in order to help lower
premiums and avoid the "Cadillac Tax danger zone."
Trinseo’s main focus is on remaining ahead of the curve. Conkright and Waters both
stated repeatedly that compliance is not overly difficult if a firm stays on top of the laws and
allocates the right resources. They are a large firm with sufficient capital and access to the right
consultants. Trinseo has never paid any ACA fines for being non-compliant because they have
12. 11
made being fully compliant a pervasive company goal. Trinseo knows that the ability to avoid
fines is fully within the employer’s control.