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Industry Trends

Industry Trends (44)

When an employee’s Group Life insurance plan ends, due to termination from the company or for other reasons, they don’t have to be left unprotected. Ex-employees are usually able to convert and/or port their coverage with the same Life carrier, but employers often are unaware of their obligations to the…
Monday, 28 January 2019 12:14

Compete for Talent with Unique Benefits

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Today’s job market is extremely competitive, and it can be difficult for employers to find the most talented workers. A company’s benefit package can make one employer stand out over another, and offering additional fringe benefits could be the crucial difference in attracting and retaining top talent.
The Trump Administration recently proposed a plan that could potentially cut pricing for pharmaceuticals through Medicare Part B. Attempts to lower these costs is nothing new, and the Obama administration had proposed something similar before he left office, with little success.
When the Obama administration issued guidance defining discrimination under the ACA to include denying certain benefits to transgender individuals, many employers began including new protocols for approving and covering certain benefits. Those requirements appear to be shifting in the face of recent court cases as well as an expected new…
Monday, 13 August 2018 09:25

The Battle to Cut Pharmacy Costs

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This past May, the Trump administration released its plans to reduce pharmaceutical prices on four fronts. The policy was laid out in a blueprint which describes the various fronts the Center for Medicare and Medicaid Services (CMS) and the department of Health and Human Services (HHS) propose to take to…
Friday, 06 July 2018 12:32

Be Aware of the New York Hospital Surcharge

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If you have a self-funded or partially self-funded plan (including all “Level Funding” plans), you need to know about New York State’s Health Care Reform Act (HCRA) of 1996, even if you don’t have employees in New York. The HCRA, which still applies today, was created to generate funding for…
When consumers need to access emergency health care services, they usually do not have the time nor presence of mind to determine whether a provider treating them is in-network or not. When those emergencies expose them to out-of-network providers, the provider or facility may “balance bill” the consumer for amounts…
Reference Based Pricing (RBP) is a cost containment strategy that some larger employers have implemented to help place a cap on the cost of larger medical services. It’s a savvy strategy that, in the past, has worked best with self-funded large employers but is gaining steam across employers of all…
Monday, 09 April 2018 14:44

Paying Hospitals to Keep People Out?

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For years, hospitals have made money by admitting (and readmitting) people. But what if it were more profitable to reduce readmissions? Both the Medicare Modernization Act and the Affordable Care Act increased the incentives hospitals have to reduce readmissions. But the state of Maryland is taking it even further and…
We all know that attracting and keeping the superior employees in your field is a constant challenge. Employers must stay ahead of the curve and anticipate the needs of the future. We all wish we could predict the future, but until that time comes, here’s a nice summary from Paylocity…
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