Every year we see firms scrambling at the last minute to review benefits, weigh options, and make critical decisions under pressure to meet open enrollment deadlines.

What is open enrollment? It is the annual period when you have the opportunity to review your health insurance options and make changes for the upcoming year. For most employers, solo practitioners, and employees, open enrollment occurs in the fourth quarter, with new benefits commencing January 1st. This is the time you can align your coverage with your needs (firm, family, personal, and financial) and start the new year feeling confident that you made the best choices.

Get ahead of open enrollment by adding these items to your “to-do” list now:

1) Evaluate your current coverage

2) Understand what your employees (or you) really need

3) Explore cost-effective benefit strategies

4) Learn how HSAs work and the pre-tax savings they provide

5) Compare PPO, HSA, EPO, and HMO plans

6) Review deductibles, co-payments, and coinsurance

7) Check out “You Can’t Use What You Don’t Understand” from our July newsletter for some insurance basics

8) ASK QUESTIONS – the most important thing to do! CalCPA members can reach out with questions about health and benefit plans – whether they are enrolled with us or not – by filling out the “questions” box to the right or they can email us.

Why CalCPA Health

CalCPA Health was established in 1959 by CalCPA, so that member firms could have exclusive access to employee healthcare and benefit plans.

Member firms, solo practitioners, and financial professionals – here are just a few things CalCPA Health has to offer:

• Over 40 benefit plans available: Medical (PPO, HSA, EPO & HMO), Dental, Vision, LTD, and Life
• One bill for all plans provides streamlined administration
• Access to California’s largest provider networks: Anthem Blue Cross, Delta Dental, and Vision Service Plan (VSP)
• Complimentary COBRA administration
• Life and Long-Term Disability coverage through Lincoln Financial (2+ employees)
• Fully integrated Health Savings Account (HSA) administration through HealthEquity
• Dedicated call center (Banyan Administrators) for enrollment, benefits and claims help

CalCPA Health is regulated as a Multiple Employer Welfare Arrangement (MEWA) by the U.S. department of labor and the California Department of Insurance.  As a MEWA, there are certain regulatory and financial advantages over the for-profit insurance providers, resulting in good value to members. CalCPA Health is A.M. Best rated and has maintained its stable outlook and its B++ rating, and typically outperforms the insurance marketplace.

Eligibility requirements (in-part): CalCPA Health is available to CalCPA member firms (or solo practitioners – no W-2 employees) in public practice or offering general financial services. To obtain or retain eligibility, at least 50% of all the Employer’s owners (i.e. principals, proprietors, partners, shareholders or other owners) must be active members of CalCPA and remain in good standing. CalCPA Health does not offer Medicare or retiree plans.