Covid-19 Insurance Carrier FAQ

Total Employee Benefits

Ancillary Carriers – Rate Pass. The post Covid-19 Insurance Carrier FAQ appeared first on Total Employee Benefits Compliance Bulletin Corona Virus Benefits FAQ. Kaiser COVID-19_FAQ_for_business_customers 033020 GA.pdf. Anthem COVID19 Specialty FAQ.pdf.

3 Tips to Interpreting Your Health Insurance Carrier’s Language

Corporate Synergies

A former carrier underwriter gives 3 handy tips to help you interpret your health insurance carrier’s language. The post 3 Tips to Interpreting Your Health Insurance Carrier’s Language appeared first on Corporate Synergies.

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Health Insurance Carriers to Begin Mailing Out Rebate Checks

BerniePortal

In 2021, many health insurance plans may be eligible for a rebate. Your organization may qualify if you've sponsored a fully-insured health plan in the past three years. What other factors are impacting your chances of receiving a rebate in 2021? Find out more. Benefits & Healthcare

Biden Admin to Require Insurance Carriers to Cover At-Home COVID Tests

BerniePortal

Biden’s administration has officially announced that insurance carriers, beginning on Jan. 19, are required to provide reimbursement coverage for at-home COVID tests.

What is an EDI 834 File?

EverythingBenefits

Put as simply as possible, an Electronic Data Interchange (EDI) 834 file is the standard format in which employers can communicate their employees’ health insurance enrollment and maintenance data to insurance carriers. Carrier Connectivity Solution

How To Promote an Employee Assistance Program (EAP)

BerniePortal

Be sure to check with your insurance carrier to see what employee benefits may be offered under your policy, and whether an EAP is available to you.

Transparency Rules Deadline Approaching for Employers to Conform by July 1

Griffin Benefits

Most fully-funded employers are conforming to this rule by simply ensuring that their carrier partners are making this information publicly accessible. Note most large TPAs will require that the sponsor of the self-insured medical plan post the files on their public website.

Expect More Difficulty Obtaining Fiduciary Insurance

McDermott Will & Emery Employee Benefits

Increasing retirement plan-focused litigation has put insurance carriers and fiduciary service providers in difficult positions. The post Expect More Difficulty Obtaining Fiduciary Insurance appeared first on EMPLOYEE BENEFITS BLOG.

Adequately Insuring Commercial Saltwater Disposal Operations

AssuredPartners

{"ops":[{"insert":"Commercial Saltwater Disposal (SWD) operations open for third party disposal are quickly becoming the new taboo for insurance carriers.

Why your integrated HRA shouldn't be tied to one carrier

PeopleKeep

For many employers offering a group health insurance plan, adding a supplemental benefit in addition to the group plan can help offset your employees’ out-of-pocket costs. Group Health Insurance Group Coverage HRA

Costlier Reinsurance Is Feeding into Higher Commercial Policy Rates

InterWest Insurance Services

Commercial insurance companies are raising rates in most of their lines to account for increasing claims as well as the cost of claims, but another factor is forcing them to increase their rates further: reinsurance. Reinsurance is a vital part of the insurance industry.

5 Questions to Ask During Your Renewal

AssuredPartners

This creates an issue for truck insurance carriers, as the industry is not equipped to handle the rapid growth. With over 431,000 active trucking companies all renewing their insurance on an annual basis, it is more important now than ever to partner with the right insurance agency. Here are five simple questions you can ask as part of your renewal process: How many insurance carriers will they be checking with, and how much volume do they have with each carrier?

Indirect Costs

InterWest Insurance Services

This is your best estimate of what your insurance carrier paid in insurance claims last year, plus any deductibles and out-of-pocket expenses. How often do you find yourself wasting time dealing with unexpected emergencies that take you away from what you do best?

Dear Valued Participant, we’re here for you

Benefit Resource Inc.

Lately, we’ve seen an uptick in questions around the roles of responsibilities of your company’s broker, your TPA (that’s us), and your health insurance provider. And where does your health insurance carrier play into this? What is a health insurance carrier? A health insurance carrier administers your health insurance plan. An insurance carrier is a risk-bearing entity.

Employer Reporting on Prescription Drug Pricing Due By 12/27

Griffin Benefits

Finally, short-term limited duration insurance (which is typically an individual market product) is also exempt. Practical Challenges Fully-insured employers may contract with their insurance carriers to provide prescription drug reporting on their behalf.

Hospitals Are Hiding Prices from Patients, Advocacy Report Says

InterWest Insurance Services

The Centers for Medicare and Medicaid Services’ transparency rules were implemented to shine the light on what hospitals charge for their various medical services, the negotiated rates insurers have with health plans and the out-of-pocket costs enrollees can expect to pay for these services.

Ask an Expert: Is There a 30-Day Grace Period to Make Changes to Elections in Cafeteria Plans?

InterWest Insurance Services

Many group health insurance plan sponsors and administrators have the mistaken belief that the law allows employees enrolling in Section 125 cafeteria plans to change their elections, as long as they do so within 30 days of the plan becoming effective.

Is Your Water Damage Claim Now Subject to a Higher Deductible?

AssuredPartners

nProperty insurance carriers have seen an uptick in the number of water damage claims in recent years. In response to this, insurance carriers may choose to amend the definition of flood to include other types of water damage situations. Insurance carriers may also choose to include a separate water damage deductible that is higher than the property deductible.

Time to Comply with Health Plan Transparency Rules

InterWest Insurance Services

While health plans will be required to post this information, employers who sponsor their group health insurance for their employees will need to take steps to ensure that their plans comply with the law, if they have not already done so.

Broker Compensation Disclosure Rule: New Legislation for Brokers

Total Employee Benefits

Beginning December 27, 2021, as part of the Consolidated Appropriations Act, covered service providers – insurance providers, benefits brokers, agents, and consultants – are required to disclose any compensation they expect to receive over $1,000.

Does Your Insurance Program Cover All Insurance Requirements in the Contracts You’re Signing?

AssuredPartners

A great question to stop and ask yourself - how certain are you that in the event of a claim your insurance program will trigger coverage? But, if you aren’t checking your insurance program’s fine print ahead of signing a contract you may be signing something that could be the beginning of a major problem later on. Your insurance carrier could “deny” coverage to the parties you’re contracted with, which could result in a breach of contract suit/litigation.

The Ins and Outs of Contractors Professional & Pollution Liability Coverage

AssuredPartners

Does standard General Liability insurance provide coverage for design activities or modifications and. Additionally, more subcontract insurance agreements require Contractor’s. carrier change occurs it is important that the ‘retroactive date’ on the new policy goes back to the. In recent years, more insurance carriers have offered rectification. insurance carrier as soon as practical so the circumstances around the claim can be reviewed and.

Excess and surplus insurance

Higginbotham

Insurance helps business owners cover their risks – but what if the risk is so great or unique that traditional insurance companies don’t want to cover it? Admitted vs. Non-Admitted Carriers. The terms “admitted” and “non-admitted” describe two types of carriers.

Narrow Networks, Tiered Plans May Reduce Costs

InterWest Insurance Services

Compare insurance plans and providers. Also, plans can vary greatly among insurance plans and each insurer will have different deals to offer. Even your current slate of insurers may have plans that you are not offering.

Survey: Employers See Value In Integrated Employee Benefits

Wellable

The vast majority (71%) of these employers are integrating the health benefits with a single insurance carrier rather than using technologies to connect multiple carriers.

Cybersecurity and the Construction Industry

AssuredPartners

In fact, this internal control is so important and effective that some insurance carriers won’t provide cyber insurance coverage for companies that don’t have this in place. Cyber Insurance.

This Company Is Changing the Employee Benefits Game

CorpStrat

Are you an employer looking for a new and innovative health insurance plan to offer your employees? Wouldn’t it be amazing if there was a new company in the market that actually did something different from all the traditional insurance carriers?

How Your Employees Can Get Free COVID Test Kits

InterWest Insurance Services

With that in mind, you may want to disseminate information to them about how they can be reimbursed by their insurer for COVID-19 tests they purchase. In these cases, the employee will have to pay for the test upfront and then seek reimbursement from their health insurer.

Vacant Buildings Pose Risks, Insurance Challenges

InterWest Insurance Services

This can lead to costly problems and loss of insurance coverage. Insurance implications. If a building is actively occupied and someone conducts business there, the risks of vandalism and what insurers term “malicious mischief” against that property are relatively low.

Illness or Injury: How Your Business Can Protect Your Employees

InterWest Insurance Services

You as an employer can help by offering group disability insurance to your employees. This insurance helps replace a portion of a worker’s income if they lose their income due to an injury or illness. The employer reports income information to the disability insurance carrier.

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).

Best Practices for Risk Management

AssuredPartners

Share these results with your insurance carrier’s loss/risk control rep or consultant to demonstrate you’re doing everything possible to mitigate risk. First step is to meet with your insurance broker to review renewal updates (i.e.

Traditional Claims Management Is Not Always Enough

Assurance Agency

“I have insurance, so I’m covered, right?” Because your insurance costs are actually dictated in part by your loss history. Claims are typically handed off to your insurance carriers once they’re filed.

Our Take on the CVS Health Hubs Concept

Corporate Synergies

“Our Take” is Corporate Synergies commentary on employee benefits and insurance topics that are in the news. Since CVS announced its plans to buy insurance carrier Aetna in December 2017, many experts, including ours , speculated how the acquisition and other similar ones would change healthcare. Read: What PBM-Carrier Mergers Mean for Employers and Benefits Plans.

AssuredPartners Announces Acquisition of Sterling Insurance Group, Inc.

AssuredPartners

Michigan Insurance Company Joins National Broker LAKE MARY, FL – August 5, 2021 – AssuredPartners, Inc. is proud to announce that Sterling Insurance Group, Inc. Joe Haney said, “At Sterling Insurance Group, we have relationships with more than 100 national insurance carriers to provide clients instant access to the most competitive insurance markets in the business.