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Monday, September 9, 2019
Healthcare costs continue to increase, prompting some employers to adopt strategies to help mitigate the impact. But not many have done so. One of those strategies is implementing a reference-based pricing (RBP) model…
Thursday, September 5, 2019
After years of a soft insurance market characterized by low rates, relaxed underwriting standards, and ample carrier and reinsurance capacity across all lines of coverage, the pendulum has started to swing in the opposite direction. A hard insurance market is coming…
Wednesday, September 4, 2019
Employers with group health plans that provide prescription drug coverage to individuals who are eligible for Medicare Part D must comply with certain disclosure requirements.
Thursday, August 22, 2019
As technology advances, patients are becoming increasingly active partners in their care. The boost in sales of personal mobile health devices that deliver instant results, such as Apple watches and Fit Bits…
Tuesday, August 20, 2019
A healthcare facility is a place that most of us think of as safe when we are sick or injured. However, recent news of a local hospital shutting down all of its operating rooms due to mold contamination is a reminder that there are contamination and pollution risks associated with healthcare establishments.
Tuesday, August 13, 2019
When we make changes in our busy lives, it’s easy to forget how they may affect our personal insurance. As a result, people often have important coverage gaps or pay more premium than they should.
Tuesday, August 6, 2019
Today’s employers are faced with the monumental task of offering competitive benefits to a very diverse workforce in an extremely tight labor market (while keeping costs in check), promoting wellness and consumerism to its participants, and helping employees balance their needs for health and wealth management now and in the future.
Thursday, August 1, 2019
Make no mistake, automobile insurance rates have been increasing over the past few years and seem to be picking up steam. Average rate increases, even for policyholders with relatively good loss histories, have been around 5%-7%. For those with greater loss activity, the increases have been in the double digits.
Friday, July 26, 2019
In Washington State, workers’ compensation insurance is provided through the state (i.e. a monopolistic state fund). This is a relatively rare structure in the United States; Washington is one of only four states that pay workers’ compensation premiums to the state’s department of labor and industries (L&I), and not to a private insurance carrier.
Thursday, July 25, 2019
In Revenue Procedure 2019-29, the IRS decreased the affordability percentage from 9.86% to 9.78% for 2020. This percentage determines which applicable large employers may face penalties under §4980H(b) for failure to offer affordable coverage as well as which individuals may qualify for subsidized coverage through a public Exchange.
Monday, July 22, 2019
In IRS Notice 2019-45, the IRS expanded upon what is considered to be preventive coverage for purposes of determining eligibility to contribute to a health savings account (HSA). The guidance comes shortly after the issuance of President Trump’s executive order requesting that the agency provide further flexibility for those with chronic conditions to receive coverage for such conditions while maintaining HSA eligibility.
Monday, July 22, 2019
Washington employers have already begun paying premiums to the state under the new Paid Family Medical Leave law, but there is still more work to be done before benefits start paying out in 2020. Organizations should take the time to review their existing benefits plans and how PFML fits into that structure.