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Are Level Funded Health Plans Your New Benefits Alternative?

PeopleStrategy

They are a hybrid approach to providing healthcare coverage that combines elements of traditional fully-insured plans with those of self-funded plans. With a level funded plan, your business pays a fixed monthly amount (a level fee, similar to a premium) to an insurance carrier or third-party administrator.

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Service Line Coverage – What Is It and Why Do You Need It?

AssuredPartners

{"ops":[{"insert":"Did you know that you are responsible for the maintenance of utility or service lines that extend from your home to your property line? Recently, some insurance carriers have begun to offer Service Line Coverage Endorsements to their Homeowners policies to address this potential gap in protection.

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Understanding Actual Cash Value vs Replacement Cost

AssuredPartners

This means at the time of a claim, the settlement from an insurance carrier traditionally will payout less than what it costs to replace the current item. The most comprehensive way to replace an item or rebuild a home is utilizing a Replacement Cost Value. It is the cost that you paid for the item minus any depreciation.

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New Proposed Rules Take Great Strides to Further Mental Health Parity

AssuredPartners

On July 25, 2023, the Departments of Labor, Treasury, and Health and Human Services (collectively, “the Departments”) released guidance in an effort to clarify existing guidelines under the Mental Health Parity and Addiction Equity Act (MHPAEA) and to help group health plans and insurers with compliance.

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Benefits Advocate: The Secret to Healthcare Literacy and Cost Control

Corporate Synergies

Rather than reaching out to an insurance carrier first, whose issue resolution success is measured based on the call time, employees contact their benefits advocate. This expert is trained to answer questions, deal with insurance claims and support employees on their medical journey. RELATED TOPICS.

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Pharmacy Benefit Costs Untenable? Choosing the Right PBM

Corporate Synergies

Choosing the right PBM help manages drug utilization. PBMs are now charged with helping employers manage utilization. There are typically three ways employers work with PBMs: A PBM bundled with the insurance carrier. A “third party carve-out,” in other words, a PBM that is separate from the insurance carrier.