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Understanding Actual Cash Value vs Replacement Cost

AssuredPartners

It is the cost that you paid for the item minus any depreciation. 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.

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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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New Health Plan Prescription Drug Reporting Mandate

AssuredPartners

For fully insured plans, health insurance carriers will be responsible for making the necessary reporting from a legal standpoint. Finally, plan sponsors and insurers must report any reduction in premiums and out-of-pocket costs associated with these rebates, fees, or other remuneration.