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Novus’ Actuarial Arsenal Benefits From the Feds “Health Reimbursement Arrangements”
Novus’ Actuarial Arsenal Benefits From the Feds “Health Reimbursement Arrangements”.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":"\n\n American Workers Can Choose Their Own Health Coverage and Add Cannabis to Their Health Insurance   MIAMI, FL, July 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, annuity and accident, and, the nation’s first carrier/aggregator offering a cannabis health plan, announced today that the White House’s newly adopted Health Reimbursement Arrangement (HRA) gives the American worker a choice to add cannabis to their health plans along with privacy from employers.  An HRA is an employer-financed health plan used to reimburse employees tax-free for out-of-pocket medical expenses and individual health insurance premiums. How this works is the employerfurnishes a defined contribution on behalf of the employee, and the employee can choose the type of insurance coverage and apply unused funds to be rolled over from year to year. For example, an employer could fund an HRA for each worker and their family, which they could then use to shop for a plan that best suits their needs. The White House estimates that as many as 800,000 employers, mostly smaller businesses, will choose this option, expanding healthcare choices for 11 million workers. These changes give employees more control over their healthcare dollars of which they were denied a choice in the past. This strategy is a win-win situation for employers, allowing them to concentrate on what they do efficiently, that is operating their business models and not managing ever-changing health benefit designs. For workers, it puts them on the forefront of choosing Novus Cannabis MedPlan and/or Novus traditional related insurance coverages autonomously and inclusive to preexisting conditions. The challenge will be guidingconsumers who lack the knowledge they need to shop for low-cost, high-quality healthcare services. The past 10 years the American consumer has seen from the larger health carriers’ deductibles and healthcare cost accelerating at three times inflation since 2008. So, the communication strategy will be an educational message offering reimbursement-based health benefitsthat is easy to understand. We wil...