At E Powered Benefits, Emma Fox is creating a new kind of healthcare plan
Employee Benefit News
SEPTEMBER 14, 2023
Emma Fox, managing partner at E Powered Benefits, is creating a healthcare plan that doesn't depend on insurance carriers.
6 tips to help employees manage out-of-pocket expenses
Benefit Resource Inc.
FEBRUARY 2, 2023
Employees have a better chance of managing out-of-pocket spending when they understand how their out of pocket expenses can be reduced and what type of savings will come along with that. To help you get started, here are 6 tips to help employees manage their out-of-pocket expenses. Healthy employees are productive employees.
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Creating a Company Culture of Care: Integrating Mental Health, Wellbeing, and DEI in Benefits
Trending Sources
State of the market: Rising home and auto insurance rates
Higginbotham
MAY 28, 2024
This can translate into more expensive home insurance claims for insurance carriers – and higher premiums for homeowners. With the recent steep drop in the housing supply and surge in home prices, the insurance industry has needed to adjust premiums upwards to cover the increased cost of home repairs, remodels and replacements.
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What is a loss run? Understanding your claims history
Higginbotham
APRIL 25, 2024
Request a loss run report by contacting your insurance broker so they can get in touch with your insurance carrier or ask your insurance company directly. You may even be able to request a loss run online if your insurance broker or company has an online portal. Refining risk management strategies.
Traditional Claims Management Is Not Always Enough
Assurance Agency
NOVEMBER 19, 2021
It’s time to let go of traditional claims management and replace it with an integrated and vigilant approach. Claims are typically handed off to your insurance carriers once they’re filed. A New Approach to Managing Claims. Minimizing the Impact of Claims on Your Loss History.
The Lost Receipt
Benefit Resource Inc.
JANUARY 11, 2023
Check with your Insurance Carrier. Your insurance carrier is generally able to provide you with an Explanation of Benefits (EOB) for any services that have run through your insurance. If you did not receive an EOB automatically by mail, you can also contact the carrier and request to have one sent to you.
Are Level Funded Health Plans Your New Benefits Alternative?
PeopleStrategy
OCTOBER 17, 2023
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.
Captives: Is Company Size a Factor?
AssuredPartners
AUGUST 15, 2022
Captives have been a financial strategy for managing risk for decades. Growth continued through the 1980s and 90s mostly due to the hard insurance market and increasing difficulty to find coverage for liability claims through traditional insurance. In the 1960s about 100 captives existed. What’s driving change?
Zenefits
HR Lineup
FEBRUARY 9, 2023
Zenefits is a cloud-based software platform designed to simplify the management of employee benefits for small and medium-sized businesses. It offers a comprehensive solution for businesses to manage their employee benefits program and streamline various HR processes such as onboarding, payroll, and compliance.
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Cybersecurity and the Construction Industry
AssuredPartners
JULY 10, 2022
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. Vendor Risk Management: Be sure to update contracts with third-party vendors to protect from data breaches. Employee Training.
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Adapting to Change: Mastering the Shifting Landscape of Casualty Insurance
AssuredPartners
JULY 16, 2023
Manage expectations to avoid surprises. Setting realistic expectations and discussing potential outcomes with your insurance advisor establishes trust and avoids misunderstandings. Actively manage your risks by implementing robust risk mitigation strategies. Build and maintain strong relationships with insurance carriers.
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Popular virtual care options for today’s workforce
Insperity
JANUARY 24, 2023
If employees can better manage their health and avoid using urgent care centers and ERs unless necessary, it can help businesses better control benefits costs. Wellness apps As part of your company’s wellness program , you can offer virtual resources for managing a healthy lifestyle proactively in a DIY, self-directed way.
Can you switch car insurance at any time?
Higginbotham
DECEMBER 22, 2022
There are many different reasons for switching car insurance companies: Reason #1: To save money on car insurance premiums. You might want to switch if you find a better deal with a different auto insurance company. Some people decide to bundle their homeowners and auto coverage to streamline account management.
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Workers’ compensation for remote employees: a guide
Insperity
SEPTEMBER 17, 2020
It’s best to collect the employee’s report about their injury as soon as possible after the incident and to pass it along to your insurance carrier promptly. That pace allows the insurance adjuster and the employee to have their follow-up discussions while the facts are still fresh.
Management of Resident Transportation Services
AssuredPartners
SEPTEMBER 16, 2019
Therefore, it is crucial to ensure the following:nEach employee who will be operating the transport vehicle is properly trained and has undergone a thorough motor vehicle record review by the community’s auto insurance carrier"},{"attributes":{"list":"bullet"},"insert":"n"},{"insert":"Other staff who will be present during the transport must be trained (..)
AssuredPartners Announces New Agency President
AssuredPartners
JANUARY 24, 2023
Derek specializes in Property & Casualty insurance with a focus on high-risk industries and complex worker’s compensation placements. He is active in several insurance carrier councils and regional industry associations/boards, including the National Utility Contractor Association (NUCA).
Hoops HR
HR Lineup
MARCH 10, 2023
Hoops HR is a cloud-based human resources management software designed to help small and mid-sized businesses streamline their HR processes. The software offers a range of features including applicant tracking, onboarding, time and attendance, benefits administration, performance management, and more.
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What is product liability insurance?
Higginbotham
JUNE 7, 2024
Risk levels for a business (and an insurance carrier) can vary depending on the type of product involved. Companies with a poor claims history or lack of risk management strategies may face higher insurance costs. As a result, larger companies will typically need higher limits and, consequently, pay more for coverage.
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Employer Reporting on Prescription Drug Pricing Due By 12/27
Griffin Benefits
OCTOBER 1, 2022
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.
PUNC - Pilots, Use, Named Insured, Contracts
AssuredPartners
DECEMBER 13, 2022
At AssuredPartners Aerospace, we also use an acronym as a risk management tool in insurance, much as it is in the cockpit. We coined the acronym PUNC to call attention to the four most important areas of the aviation insurance policy that result in the largest percentage of claim denials. Want to know more?
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PUNC - Pilots, Use, Name Insured, Contracts
AssuredPartners
DECEMBER 13, 2022
At AssuredPartners Aerospace, we also use an acronym as a risk management tool in insurance, much as it is in the cockpit. We coined the acronym PUNC to call attention to the four most important areas of the aviation insurance policy that result in the largest percentage of claim denials. Want to know more?
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Narrow Networks, Tiered Plans May Reduce Costs
InterWest Insurance Services
DECEMBER 2, 2022
The key for employers grappling with these higher costs is how they can reduce their impact by switching up plan offerings and choosing plans that do a good job of managing specialty drug costs, which have been spiraling over the last decade. Other cost-saving measures.
Is your insurance pricing formula working against you?
Assurance Agency
JULY 24, 2023
Why do we concern ourselves with prioritizing safety, claims management, mitigating risk and marketing insurance programs each renewal? Ultimately, the answer boils down to cost management and/or avoiding any negative financial impact on the company. It relies on how effectively you manage your insurance pricing formula.
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3 ways you benefit with a third-party COBRA administrator
WEX Inc.
JANUARY 11, 2023
And, if your business manages COBRA administration in-house, then your human resources team is carrying additional healthcare responsibilities and risk. Submit carrier eligibility to insurance carriers. Choosing a third party to manage your COBRA lets you provide the best experience. Collect premium payments.
Stop-loss Insurance Changes Create Hurdles for Employers
Corporate Synergies
MARCH 2, 2020
When catastrophic claims rise, stop-loss insurance carriers take notice. The post Stop-loss Insurance Changes Create Hurdles for Employers appeared first on Corporate Synergies. Here’s a game plan for plan sponsors.
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Vacant Buildings Pose Risks, Insurance Challenges
InterWest Insurance Services
NOVEMBER 8, 2022
If you are faced with the possibility that one of your properties is going to suddenly be vacant, you should take a look at your property insurance policy to see if it has a vacancy exclusion and if so, what it says. If the building will stay vacant or unoccupied, you should notify the insurance carrier.
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Illness or Injury: How Your Business Can Protect Your Employees
InterWest Insurance Services
JULY 26, 2022
The employer reports income information to the disability insurance carrier. Portability is an important feature, because disability insurance can be difficult to qualify for on the individual market. Portability is an important feature, because disability insurance can be difficult to qualify for on the individual market.
AssuredPartners Announces Acquisition of Sterling Insurance Group, Inc.
AssuredPartners
AUGUST 5, 2021
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. The agency currently reports $20 million in annualized revenues.
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Paycheck Protection Program Loans & Insurance Audits
AssuredPartners
OCTOBER 22, 2021
If you as a business owner utilized PPP money to pay employees to work from home, and you are able to show that delineation of payroll within your records, it should be addressed when conducting your annual policy audits with your respective insurance carrier(s).
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Benefits Administration Technology: What Is It and Why Do You Need It?
Assurance Agency
APRIL 12, 2023
Valuable Ben Admin Features Here are some things ben admin technologies can do and automate: Communication: Communicate employee benefit options to new hires – every employee gets exactly the same message and information Better communicate your benefits to candidates and increase employee engagement by providing more, better and on-time benefits (..)
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The Value of Modified Duty Programs – Ask #HR Bartender
HR Bartender
SEPTEMBER 1, 2016
She’s the author of two books: “ From Workers Comp Claimant to Valued Employee ” and “The Injury Management Challenge.”. I’ve had the opportunity to work with Margaret while serving on the Society for Human Resource Management (SHRM) special expertise panels and I’m grateful that she dropped everything to share her knowledge with us.
3 Critical Keys to Negotiating Benefit Renewals
Corporate Synergies
NOVEMBER 5, 2018
Knowing how to approach the annual renewal with health insurance carrier, pharmacy benefits manager (PBM) and other players can help the savvy employer save some money while maintaining the same level of benefits as before. A good carrier relationship can help you come to an agreement when negotiating benefit renewals.
Repetition is the Mother of All Skills
AssuredPartners
NOVEMBER 15, 2021
To that end, all insurance carriers require recurrent training for pilots annually in turbine and jet aircraft with rare exception. While an excellent risk management strategy, again 80%+ of aircraft accidents result from pilot error, not a mechanical failure. It is simply not left to the discretion of the aircraft owner.
Top 4 reasons why you should add a dependent eligibility audit to your benefits strategy
WEX Inc.
JANUARY 19, 2023
By confirming you’re only covering eligible expenses, you maintain compliance with insurance carrier eligibility requirements while minimizing litigation risks and reducing stop-loss exposure. Reduce HR team’s workload Dependent management can be a difficult and time-consuming task if you’re doing it all on your own.
Our Take on the CVS Health Hubs Concept
Corporate Synergies
JUNE 10, 2019
“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. RELATED TOPICS.
5 Steps To Take After Your Worker Got Injured On The Job
Hppy
APRIL 12, 2022
The HR (Human Resource) manager of a company is responsible for ensuring the employees’ engagement and productivity. This means that if you’re an HR manager in your company, you should ensure the safety of all the employees at work. Cooperate With The Insurance Carrier.
How would a government funded COBRA subsidy work?
Benefit Resource Inc.
MARCH 5, 2021
The employer would be responsible for working with insurance carriers to pay monthly invoices. One way employers can prepare is to ensure their current COBRA solution is flexible enough to manage more complicated elements of the process. How you can be proactive.
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Professional Liability Actuarial Analysis – Senior Living
AssuredPartners
NOVEMBER 19, 2019
With this knowledge, what can senior living management do to limit their claims? By quickly managing these events, communities are able to mitigate financial risk associated with surveys and liability insurance. Additionally, findings identified that claim severity, or average size of a claim, will increase by 3% annually.
Benefits Administration Technology: What Is It and Why Do You Need It?
Assurance Agency
APRIL 12, 2023
Valuable Ben Admin Features Here are some things ben admin technologies can do and automate: Communication: Communicate employee benefit options to new hires – every employee gets exactly the same message and information Better communicate your benefits to candidates and increase employee engagement by providing more, better and on-time benefits (..)
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AssuredPartners Announces Acquisition of Ballator Insurance Group, Inc.
AssuredPartners
JULY 9, 2021
Shane Caldwell stated, “At Ballator, we are a specialty focused insurance firm serving the needs of niche industry groups. We work with A-rated insurance carriers, agents and associations to create innovative insurance products that increase availability, improve pricing and provide superior coverage to the niche industries we service.
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January HR News Worth Review
Higginbotham
JANUARY 11, 2022
Plans and issuers must cover the costs of COVID-19 tests during the COVID-19 public health emergency without imposing any cost-sharing requirements, prior authorization, or other medical management requirements. Employers with fully-insured plans should expect their insurance carrier to handle these requirements.
How to design a return to work policy that doesn’t trigger a lawsuit
Business Management Daily
FEBRUARY 26, 2020
Include a supervisor and HR staff member as well as an insurance carrier representative. Check with your workers’ comp insurance carrier or manager if you are self-insured about how long light-duty positions last. Some carriers prefer an almost indefinite light-duty placement.
Your 5-Day Plan to Learning Facebook
HR Bartender
FEBRUARY 12, 2015
For example, I follow my insurance carrier. It can be a professional association like the Association for Training and Development (ATD), the Society for Human Resource Management (SHRM) , or the National Association of African American Human Resources (NAAAHR). I also follow HP for Business because I use their printers.
PUNC – Contracts
AssuredPartners
MARCH 16, 2023
Upon receiving the suit papers the lessee contacts you with a request to forward the lawsuit to your insurance carrier for defense under the additional insured provision. The details matter, and contract review is an integral part of a well-run flight department’s risk management strategy.
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