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Why Employers Should Map Their COVID-19 Strategies Now

… supply catches up to demand) on-site vaccine administration may become available to any employer, at the current time, it is only available to medical providers, nursing homes, and assisted living facilities – and only in some states. But at some point, like flu shots, you will likely be able to arrange COVID-19 vaccines at your location. It is important to stay close to health departments in the states in which you operate to understand specifically how vaccine supply will be released to your employees. It is extremely likely that certain groups of your employees will be eligible for the …

https://www.epicbrokers.com/insights/employers-should-map-their-covid-19-strategies-now/

The Rise of Telemedicine: Minimizing Malpractice and Patient Safety Risks for Hospitals and Health Systems

… Institutions should review medical staff by-laws and credentialing processes with medical staff leadership and consider revising by-laws and processes to incorporate the use of telemedicine care. Care should be taken to ensure that administration of medication and controlled substances maintains or improves upon in-person medication management. If evaluation of a patient through a telemedicine platform proves less effective than in-person care, mitigate the risk by arranging an in-person appointment. Conclusion The sudden and rapid adoption of telemedicine on a broad basis is a welcome event in the medical community, yet it is not without …

https://www.epicbrokers.com/insights/the-rise-of-telemedicine-minimizing-malpractice-and-patient-safety-risks-for-hospitals-and-health-systems/

The Rise of Telemedicine: Minimizing Malpractice and Patient Safety Risks for Physicians and Physician Practices

… and controlled substances maintains or improves upon in-person medication management. If evaluation of a patient through a telemedicine platform proves less effective than in-person care, mitigate the risk of providing the incorrect medication or dosages by arranging an in-person appointment. Conclusion The sudden and rapid adoption of telemedicine on a broad basis is a welcome event in the medical community, yet it is not without risks for medical providers. Vendor relationships, use of advanced practice providers, adherence to state licensure and regulations, reimbursement requirements, compliance with HIPAA regulation, and knowledge of standard of care and malpractice …

https://www.epicbrokers.com/insights/the-rise-of-telemedicine-minimizing-malpractice-and-patient-safety-risks-for-physicians-and-physician-practices/

Law Firm Benefits, Risk & Insurance: 21 Predictions for 2021

… in the state where they are licensed or admitted. 2. Evaluation of Geo-Based Salary Structure Does it make sense to still pay people differently based on their geographies? If employees are remote and choosing where to live, should firms pay more to those who voluntarily choose to live in higher-cost locations? 3. Assessment of Real Estate Strategies Some firms will consider moving to a more permanent virtual office arrangements, abandoning the traditional office space. This will create an opportunity to reduce real estate costs, but comes with even more pressure on IT infrastructure.  Firms are also considering a

https://www.epicbrokers.com/insights/law-firm-benefits-risk-insurance-21-predictions-for-2021/

Special Compliance Alert: Consolidated Appropriations Act, 2021 Expands Cafeteria Plan Flexibility

… that include health flexible spending arrangements (HFSA) and dependent care flexible spending arrangements (DCAP). Cafeteria Plan Provisions Generally HFSAs and DCAPs must operate under strict IRS rules that dictate that funds not used during a year must be forfeited – the so-called “use-or-lose” rule. The IRS several years ago did begin to permit HFSAs to allow up to $500 (recently increased to $550) to be carried over to the subsequent plan year. No similar carryovers have been permitted under DCAPs. Congress recognized that many individuals are facing vastly different health care and dependent care circumstances due to …

https://www.epicbrokers.com/insights/special-compliance-alert-consolidated-appropriations-act-2021/

Covering Coronavirus: Risk Considerations Volume 1, Issue 28

… then reimbursed by employers for the cost of their coverage. While the move may help insulate employers from annual cost spikes, it is a change for workers used to selecting benefits from only the choices offered by their employers. The new approach, which is known as Individual Coverage Health Reimbursement Arrangement (ICHRA), began with coverage plans for this year. More workers may see ICHRAs offered during their open enrollment period for 2021 coverage. However, since ICHRAs were made possible through an executive order issued by President Trump, it is possible that they could be repealed through an executive order issued …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-28/

Covering Coronavirus: Risk Considerations Volume 1, Issue 27

… contact an EPIC broker. EPL Market Spotlight Immediately after the onset of the coronavirus pandemic, the Employment Practices Liability (EPL) market made swift adjustments in light of an environment rife with layoffs, furloughs, pay reduction and remote work arrangements. Anticipating a significant increase in employment litigation as a result of such measures, insurers increased rates and retentions, reduced capacity, tightened coverage terms and implemented an enhanced underwriting process. On the heels of the aforementioned activity, a movement for racial justice impacted the market, pushing diversity and inclusion to the forefront of legislative discussions that could further affect the EPL …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-27/

The Hardening Stop Loss Market

While the year 2020 has softened the medical and dental insurance markets, with COVID-19 suppressing claim costs and continuing to place downward pressure on the entire healthcare economy, stop loss has been a very different story. Over the last 12 to 18 months, the reinsurance market continues to harden, and there seems to be a wide variety of reasons, none of which appear to be slowing down. Viewpoints from Adam Okun For those who are unfamiliar, most employer-sponsored healthcare costs in this country are not paid by insurance carriers, but by the employers directly. This arrangement, known as …

https://www.epicbrokers.com/insights/the-hardening-stop-loss-market/