GULFPORT — BancorpSouth Insurance Services Inc., a subsidiary of Tupelo-based BancorpSouth Bank, has released a health care reform calculator to help clients and partners quantify the financial impact of the Patient Protection and Affordable Care Act (PPACA) on their health plans.
With this new tool, BancorpSouth Insurance Services consultants will be able to provide financial modeling and project medical plan cost through 2018. This tool, originally developed by California-based insurance broker Barney & Barney LLC, will also allow users to predict the financial impact of various scenarios, such as whether the employer continues offering health care coverage, modifies or increases coverage or drops coverage altogether.
The calculator takes into account mandates, penalties, taxes and other considerations in the legislation that can prove costly for employers. The tool also has expansive capabilities around the pay-or-play provision, helping employers understand their exposure to employee eligibility issues related to state exchanges.
To learn more about the calculator, contact BancorpSouth Insurance Services at firstname.lastname@example.org or visit www.bxsi.com.