Group health plan insurers are paying out $689 million in rebates to plan sponsors this year, as required by the Affordable Care Act's "medical loss ratio" provision. The provision requires insurance companies that cover individuals and small businesses to spend at...
insurance
Helping Your Older Workers Transition to Medicare
As health insurance costs rise and our workforce ages, fewer employers are providing retiree health insurance benefits to their older workers, and are instead asking them to sign up for Medicare. It's a delicate situation as some older workers may resent being pushed...
Final Rule Paves Way for Drug Imports to Reduce Patient Costs
The Department of Health and Human Services and the Food and Drug Administration have issued a final rule and guidance that paves the way for states to allow pharmacists and wholesalers to import prescription drugs in order to reduce costs for...
Getting a Head Start on Open Enrollment
With open enrollment right around the corner, it's time to review the health plan options available to you for the next year and prepare your workplace for signing up for the 2021 policy year. The big decision for employers is finding a plan that fits not only their...
How to Distribute Group Health Plan Rebates to your Staff
Group health plan insurers are paying out $689 million in rebates to plan sponsors this year, as required by the Affordable Care Act’s “medical loss ratio” provision. The provision requires insurance companies that cover individuals and small businesses to spend at...
Employees Pick Perks and Benefits Over Pay Raises
Great perks and incentives packages can help attract top-notch talent, maintain employee morale and improve overall engagement and satisfaction with a company. The coronavirus pandemic has made perks and benefits even more important, particularly in light of so many...
Group Plan Affordability Levels Set for 2021
The IRS has announced the new affordability requirement test percentage that group health plans must comply with to conform to the Affordable Care Act. Starting in 2021, the cost of self-only group plans offered to workers by employers that are required to comply with...
More Employers Ask Workers to Sign COVID-19 Waivers, But They May Not Be Legal
As lawsuits against employers continue rising amid the coronavirus pandemic, some businesses are requiring workers to sign waivers absolving them of liability and responsibility should they contract the virus. Eight percent of executives surveyed by law firm Blank...
Pandemic Clouds Health Insurance Cost Predictions
With large employers expecting health insurance rates to climb 5.3% in 2021, they are concerned about how the COVID-19 pandemic will affect overall health care costs in the coming years, a new survey has found. Those expectations gleaned from the survey by the...
Trump Issues Executive Orders to Reduce Drug Costs
President Trump has issued executive orders aimed at reducing the cost of medications by tying Medicare payment for outpatient drugs to international prices, passing drug-maker rebates to patients and not middlemen, and allowing individuals to import prescription...