Welcome to Our BlogStay up to date on the latest News on our industry.
Pharmacy represents 25%+ of employer’s healthcare spend annually, and the total health spend is expected to rise by 10% next year. Don’t let drug costs and coverage eat away your budget and take away from your profits. This session will help you learn ways to leverage your data and workforce needs, gain knowledge about pharmaceutical trends and alternate solutions and ways to drive your employees to other options when feasible.
A little-known requirement but most important under the Affordable Care Act (ACA) is for Health Insurers must waive their minimum employer-contribution and employee-participation rules once a year. ACA requires a one-month Special Open Enrollment Window for January 1st coverage. FEDERAL JAN 1st SMALL GROUP ANNUAL OPEN ENROLLMENT WAIVER. For more help w/Special Open Enrollment Window [email protected] or (855)667-4621
Don’t Be a Passenger: Leverage Data to Drive Better Plan Spend. During this session, we will look at leveraging your population health data to drive the best-suited plan design with the right incentives for your employees. Next, we will discuss how to provide them with the information they need, leverage incentives, make the service selections they need, and help drive down your costs.
To prepare for 2024 open enrollment, health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan.
Earlier today, the long-awaited NYS Dept of Financial Services approved 2024 health insurance rate requests. And it was worth it with small groups stabilized. Small group rates increased by 7.4% and 12.4% for individuals. Oxford/Unitedhealthcare, notably, got only a 4.7% rate increase approval for next year
Engaging your workforce and captivating them: How do you achieve this? During this session, we discuss how to deploy engaging tactics with the right balance of frequency and educational impacts across a multi-generational workforce to engage your employees when it matters most.
How to Decipher Your Medical Insurance Renewal So You Don’t Get Duped.Join us Aug 22, 2023 at 2PM for an in-depth webinar empowering Employers. Employers have become accustomed to just accepting carrier data, ludicrous assumptions, and flawed methodology in the underwriting process. This is understandable since the fully insured renewal proposal can be hard to decipher. We will help you decode what seems undecidable and give you the tools and knowledge to understand your renewal — sharing an actual case study. This will help put you in the driver’s seat to ask the right questions, challenge carrier assumptions that do not align with your plan analytics and give you more leverage for negotiating your renewal to save money
Webinar: The healthcare landscape continues to change quickly and significantly. Why, then, are many of the health plans being offered today designed years ago? Join our #webinar on July 25th at 2:00 PM ET with expert speakers Bradford Sherry, David Stoddard, and Lindsay Fuhrman!
Employee benefit marketplace trends can positively or negatively impact costs and member experience. We’ll take a deep dive into current healthcare utilization patterns, medical inflation drivers, and the medical insurer marketplace’s response. With a thorough understanding of the current state of the market, you will be able to see how the benefits program of the future can provide opportunities along with challenges — and help you plan now.
Meet, Eat, and Take a Seat
We are bringing industry experts and employers together for an in-person discussion on Charting the Employee Benefits Landscape in 2023 & Beyond. Join us for breakfast on June 14th at the Frost Science Museum in Miami.
Save your spot today!
Join us for our upcoming #webinar – “Take Home the Gold: Medical Funding Strategies in a World of Options,” on May 23, 2023, at 2 PM ET! 💼💰
2024 HSA contribution limits increase to $4,150, $8,300
how you can implement successful, flexible, and fluid solutions that work together to drive clinical performance and have positive outcomes on the health of your employee
COVID-19 End of Public Health Emergency Update By Carrier
Artificial intelligence can help spot early signs of cancer in chest x-rays. AI tool identified abnormal chest X-rays with a 99% sensitivity.
Why We Love PEO This Valentine’s Day. Today we’re counting down our top 5 reasons why we love PEO. National Capabilities, Liability Protections, Technologies, One Vendor and PEO saves you money on HR staff. Try Our PEO Quoting Tool today.
Effective May 1, 2023 All Commercial Pro and Pro Plus Plans will be discontinued (except the Platinum Pro Plus Plan)
Top Five Employee Wellness Program for 2023- Online Wellness/Health Screening, Gym, Reimbursements, Start a Walking Group etc Contact us 855-667-4621
To prepare for 2023 open enrollment, health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan.
2023 Innovations That Will Change Business.Adoption of Disruptive Technology.CyberSecurity.PEO.Remote Work.Going Virtual,AR, VR & Metaverse. PEOs for start-ups are considered to be one of the most important innovations for this year because it allows businesses to focus on marketing and strategizing their products or services. Removing the unnecessary burden that HR tasks and functions bring to employers and employees.
3 Ways to Reduce Holiday Stress. Set up a holiday budget. Create a plan. Take time for self-care. Many insurance plans offer affordable behavioral health benefits in person and through telehealth.
Many workers are paying more attention to their benefits and wondering how to stretch their dollars further. Employers are uniquely positioned to offer more than just a health care plan, including holistic benefits, resources and perks that today’s workers most need. This article highlights benefits that are likely to be popular in 2023.
New era, new values
Workers seek empathy and flexibility in a post-pandemic work world. Benefits, empathy, and workplace flexibility are close behind salary in terms of what matters most to workers when evaluating employment opportunities. It’s become apparent to employers that their old model of benefits is no longer sufficient. The dramatic impact of the events of the past two years has created a very different employee mindset. It has torn up the employer-employee contract that had, until now, endured.
Open Enrollment Participation Waiver. Having trouble maintaining minimum group health insurance participation? The annual Federal Employees Health Benefits (FEHB) Open Season is taking place from November 14, 2022 – December 12, 2022 this year. The annual open season provides federal employees, annuitants, and other eligible individuals the opportunity to review their plan options, make changes, and enroll for the upcoming benefit year that begins January 1, 2023.
Identifying & Easing Employee Burnout. Insurers’ policies provide mental health benefits that can help with burnout. Contact us (855)667-4621
The New York Department of Financial Services has released the 2023 PFL benefit and rates. The Statewide Average Annual Wage cap increases to $87,785.88 ($1688.19 per week).
Breaking: #NYS 2023 Final Rates Approved!
Small group rates increase 7.9% & 9.7% for individuals. Almost 850,000 New Yorkers are enrolled in small group plans, which cover employers with up to 100 employees.
#oxford notably, got only a 6% rate increase approved for next year.
Premium main drivers are increases in pricing by hospitals, consolidated IPA groups, and pharmaceuticals. Plus a spike in elective surgeries postponed due to COVID-19.
Learn about a PEO before you renew. Let’s review today (855)667-4621 or [email protected].
On Aug. 12, the Inflation Reduction Act of 2022 (IRA) passed the U.S. House by a vote of 220-207, and President Biden is expected to sign it into law today. First passed by the U.S. Senate on Aug. 7, the $740 billion budget reconciliation package includes policies on Medicare drug pricing, Affordable Care Act (ACA) subsidies, energy, climate, and taxes. This update provides high-level details on the notable health care-related provisions in the IRA.
Effective Sept 1, 2022 CareMount will now be part of Empire’s Blue Access and Connection Networks for all Large Group and Small Group members. This will mean greater access to more affordable care throughout Westchester and surrounding markets.
Last month NYS received the rate filing requests below as per annual Dept of Financial Services requirements. Your insurer has mailed notices about their rate filings (requested rates) to impacted New York small business certificates and policyholders with renewal dates in 2023.
For every dollar employers spent on health insurance-related costs, they get back $1.47 according to a new study. This figure in fact is expected to grow to 52% by 2026 from 47%. Employee productivity reflects the reductions in absenteeism and presenteeism after receiving employer-sponsored coverage. These productivity increases contributed an estimated $275.6 billion in employer benefits in 2022, or 53.3 percent of all benefits. By 2026, this is expected to rise to $346.6 billion or 55.9 percent of total ROI.