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Are Level Funded Health Plans Your New Benefits Alternative?

PeopleStrategy

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. This amount is calculated based on the employees’ expected healthcare costs, administrative fees, and a stop-loss insurance component.

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Transparency: Machine-Readable File Requirement Goes Into Effect Today

AssuredPartners

Beginning July 1, 2022, the Consolidated Appropriations Act, 2021 (CAA) requires non-grandfathered major medical group health plans and insurance carriers to disclose detailed pricing information in two separate machine-readable files (MRFs). MRF files are not intended to be a member-utilized resource.

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Creating a Communication Strategy to Increase Benefits Literacy Among Your Employees

AssuredPartners

Most employers and their human resource departments are breathing a sigh of relief now that the 4 th quarter frenzy of January 1 renewals has passed. Employers continue to struggle with how to effectively communicate with their employees, and even more specifically around benefits. Keep the information educational and light.

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The Value of Modified Duty Programs – Ask #HR Bartender

HR Bartender

Fortunately, I worked for an employer that was open to modified duty. It sounds like this employer is as well. Spence] When an employee remains off work after an accident the employers cost of doing business rises. Unfortunately, employers are not in a win-win situation when it comes to workplace injuries.

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The Fair and Reasonable Renewal Rate: the Art of Carrier Negotiations

Corporate Synergies

Annual health insurance carrier negotiations doesn’t have to be a contact sport. During carrier negotiations, employers naturally seek the lowest rate increase, while carriers typically propose a high increase. On the other hand, a long-term carrier relationship yields benefits for you and your employees.

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Using Analytics to Achieve Better Claim Results

Assurance Agency

Knowing the barriers an employee may be facing, allows carriers and or employers to provide assistance in bridging the care gap. Insurance carriers have captured information on providers whose consistent outcomes are less likely to have or need subsequent repeat treatment.

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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.