Like basketball players who are sick of losing a game, many health insurers who ventured into the new marketplaces are sending a clear message: We’re taking our ball and going home. Continue reading
With the fourth open enrollment season for the Affordable Care Act (ACA) coming up, marketplace insurers are doing their best to estimate health insurance costs for 2017. While some projections were more accurate than others, most insurance companies have experienced losses on a large scale since entering the marketplace, leading to discussions of how to raise revenue. Continue reading
The U.S. Department of Health and Human Services (HHS) has released a sample employer notice that the federally-facilitated Marketplace and some state-based Health Insurance Marketplaces (Exchanges) will be using as part of the employer notice program. This program requires the Marketplaces to notify employers that one of their employees has been determined eligible to receive advance payments of the Premium Tax Credit, and/or cost-sharing reductions by enrolling in a Marketplace plan. Because these actions may trigger employer penalties under the Affordable Care Act’s (ACA) “pay or play” provisions, an employer appeal request form has been provided by HHS. Continue reading
Advisers are finding more and more employers interested in cost saving options for medical plan offerings with the new ACA mandates. Many brokers are advising high deductible health plans because of the lower monthly cost. Is there a gap in coverage from offering these seemingly inexpensive options? Many employees are satisfied with the monthly savings at first until they have a trip to the emergency room or find out they need surgery. Continue reading
There are a range of illnesses that can prompt a self-funded employer to make a claim on their stop-loss insurance policy, but a new study by Sun Life Financial Inc. finds that a majority (53 percent) of the $5.3 billion in such claims paid by insurers from 2012 to 2015 came from 10 ailments. Continue reading
(Reuters) – UnitedHealth Group Inc is still losing money on the individual insurance business created under U.S. President Barack Obama’s national healthcare reform law due to customers’ high medical costs, the company said on Tuesday. Continue reading
Story indicated that some small businesses hesitate to offer stronger benefits packages due to several common concerns: “…from the time it takes to administer them, to the lack of perceived value, to the return on investment Continue reading
As smartphones become more entrenched in our daily lives, the wellness technology industry has exploded to more than $8 billion, driven largely by wearable devices and more than 160,000 wellness-related mobile apps.
Employers are capitalizing on the tech advances, making workplace wellness programs more digital, social, and connected. Continue reading
