2020 has presented a dizzying array of challenges for nonprofit organizations. Human service organizations, shelter, and food programs have all seen greater demand. Outdoor recreational nonprofits have reported increased use of trails and parks that provide rejuvenation for our mental and physical wellbeing. Forced to adapt to near constant change and uncertainty, our local nonprofits have demonstrated commendable resilience. The Palmer Community Foundation wished to support their tireless work by hosting an event on a critical issue for many nonprofit employers- health insurance. The Healthcare Solutions for Nonprofit Employees online event took place on September 23rd and we were excited to host two incredible presenters, Becky Hallstrom of United Way and Tammy Gray of TGray & Company to share their knowledge and provide answers for the 36 attendees.
Becky laid a basic framework for understanding the Affordable Care Act, how to compare plans on the Health Insurance Marketplace, and enroll in a plan using HealthCare.gov. Those that benefit most from these policies include self-employed people, young families, anyone who is 26 and aging off their parent’s health plan, legal residents, retirees who need coverage until they turn 65, and those who are over income for Medicaid and are not offered coverage at their job and are within income eligibility for the Advanced Premium Tax Credits. It may not always be clear which policy provides the maximum benefit and that’s where Becky comes in to provide her expertise and make sure that your decision is fully informed. Nonprofits with fewer than 50 employees may benefit from a consultation with Becky to see what makes the most sense for their employees. In addition to open enrollment, people may also sign up within 60 days of a life event like losing work coverage, having a baby, or being over income for Medicaid. Remember, open enrollment runs from November 1st-Dec 15th, 2020 for coverage that begins in January 2021.
Tammy outlined options available for nonprofits of varying sizes. For smaller employers, the Health Insurance Marketplace and self-funded/self-insured options are available. Nonprofits with 10-49 employees can access another option called a C-PEO or a Certified Professional Employer Organization. Finally, those with 50+ employees can choose from the other options and access IRS Section 105 Plan/Medical Reimbursement Account plans which pair together with self-funded/self-insurance plans. Tammy skillfully walked through health insurance policy scenarios for nonprofits of varying sizes and how organizations can determine which options are best for them and their employees. Tammy is keenly aware that small nonprofits in Alaska compete for talented employees who may enjoy benefits in their current job and wants to help strengthen the ability of nonprofits to recruit and retain the employees that best fit the agency’s mission. Tammy is happy to help walk an employer through the organization’s current plans, review the other options listed above, and compare value.
Health Insurance is certainly not a light topic, but the thoughtful questions from the participants showed just how relevant this discussion is to the mission and vision of their organizations. Thank you to everyone who participated in this lively community conversation! The Palmer Community Foundation is inspired by the work that you do, and we are committed to coming alongside you in support of our community.
Interested in learning more? Watch the event here:
Would you like to reach out to one of the experts?
Business Consultant, TGray & Co., LLC
ACA Navigator, United Way of Anchorage