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Healthcare Costs Are Rising – How Will You Prepare?

Viewpoints from Craig Hasday COVID-19 surely did one thing – it caused dramatic suppression of medical claim costs and for at least two years, medical “trend” disappeared. In 2023, we got a taste of trend bounceback. Inflation, new technologies, and new medications created a triple whammy, which may even have been triggered by the deferral of care during the pandemic. My advice is to strap in – a firestorm is coming. No doubt there has been growing concern about the emergence of significant, potential large claim liability driving up healthcare costs for all sizes of employers. According to the Centers for …

https://www.epicbrokers.com/insights/rising-healthcare-costs-prep/

Compliance Matters Newsletter | June 2023

Let our team help you navigate the ever-changing benefits compliance landscape each month. Check out this month’s latest alerts, additional updates, and resources – hot off the press: Employee Benefits Compliance Alerts DOL Life Insurance Settlement Is a Warning to Plans and Issuers A recent settlement requires Prudential to revise certain practices after an investigation found that the company collected life insurance premiums through employer payroll deductions from participants but denied claims for lack of participant evidence of insurance. As part of the settlement Prudential must notify plan sponsors of these new corrective actions and requirements moving forward. Multiple …

https://www.epicbrokers.com/insights/compliance-matters-newsletter-june-2023/

EPIC Bolsters Private Client Leadership Team on West Coast

Kevin Daley Joins the EPIC Team Adds over 25 years of experience in commercial and personal lines in both the insurance carrier and broker spaces. EPIC has added Kevin Daley as President, Western Region Private Client Leader. The addition of Daley, who has more than 25 years of experience in the insurance industry, underscores the brokerage’s commitment to the private client segment and growth in the Western region. “We are excited to welcome Kevin to our national private client management team,” said Tim Brenneman, President and Private Client Practice Leader. “We have already made great strides with our client …

https://www.epicbrokers.com/insights/kevin-daley-joins-epic/

Way to Wellness Newsletter | June 2023

Tech Neck – and How to Avoid It! “Tech neck” or “text neck” has become an increasingly common condition. It’s triggered by keeping the neck flexed forward for hours, typically while texting or scrolling on a mobile phone or tablet, or after prolonged computer use. Encourage your employees to adopt healthy sitting positions and desk stretch breaks to help cut back on neck and shoulder pain: Copy the Employee-Facing Email Do You Have Tech Neck? Download the Word file, then copy and paste the graphic and text into a fresh email to deploy to your workforce. Post the Monthly …

https://www.epicbrokers.com/insights/way-to-wellness-newsletter-june-2023/

Large Claims Alarms Are Signaling Healthcare Cost Spikes

Viewpoints from Craig Hasday Regardless of your plan’s size or funding arrangement, prepare yourself. Large claims are coming. According to a QBE report, claims over $200,000 increased by 17% from 2020 to 2021. While it was harder to see through the crystal ball during the COVID-19 years, it is starting to get clearer again. This trend will continue. There are several factors in play. COVID-19 claims are expected to diminish, however, the cost of deferred care is emerging. Circulatory claims are on the rise, but more acutely, the cost of high-cost therapies is expected to …

https://www.epicbrokers.com/insights/large-claims-signaling-healthcare-cost-spikes/

EPIC Welcomes Faby Jauregui

… firm as a Principal within our Employee Benefits team in San Ramon, CA. In her new role, Jauregui will focus on cultivating new client relationships and market solutions through her creative and strong consultative skills. She joins EPIC with 20 years of experience, including most recently as a health and benefits sales professional for Mercer. “We are thrilled to add Faby as the newest member to our growing Northern CA Employee Benefits team,” said Robyn Pawlo, Executive Managing Principal for EPIC’s Northern California Employee Benefits practice. “Faby is well-respected in our industry with a diverse background of employee …

https://www.epicbrokers.com/insights/epic-welcomes-faby-jauregui/

All-Payer Claims Databases: Should Self-Funded Employers Participate?

By now, several self-funded employers have received communications from their third-party administrator (TPA) asking whether they would like to opt-in to participate in a state data collection database, commonly referred to as “All-Payer Claims Databases” (APCD). In some states, laws mandate certain entities submit claims and health plan information to a central state-run database; because of the Employee Retirement Income Security Act (ERISA) preemption, participation is optional for self-funded employers. Below we will explain what an APCD is and if self-funded employers should consider participating. What Is an All-Payer Claims Database? APCDs …

https://www.epicbrokers.com/insights/all-payer-claims-databases/

EPIC Aligns New Leadership for Professional Services Division

The insurance consulting and brokerage firm positions itself for continued success and growth with the next generation of leaders. We’re excited to announce that Kelly Geary has been elevated to Division Leader of Lemme, a professional services Division within EPIC. The promotion aligns with the firm’s long-standing vision and dedication to serving professional services firms. John Wynn, who joined Lemme in 2007 and has successfully led the team for the past three years, will shift his focus to the continued development of the Lemme group’s professional service offerings. The Lemme team will join EPIC’s Financial …

https://www.epicbrokers.com/insights/new-professional-services-division-leadership/