Of the 14 states with state-based marketplace healthcare plans, eight have defined contributions options at present or being planned in the near future. These states include California, Colorado, Connecticut, District of Columbia, Kentucky, Massachusetts, Minnesota, Rhode Island and Vermont. Other states have no defined contribution plans and these states include Hawaii, Idaho, Maryland, and New York.
A. STATES WITH DEFINED CONTRIBUTION
California allows employers to offer defined contribution health plans to their employees. The use by employers of such type of plan requires compliance with ERISA and HIPAA guidelines. This means giving employees the freedom to choose their respective health insurance plans on Continue reading...