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Where’s the Healthcare Money Made? Pharmacy

It’s no secret that pharmacy spend has exploded in the last several years. Prescription drug costs are approaching, or in some cases exceeding, 30% of their total claims spend – a dramatic increase from less than 10% two decades ago. The large health insurance carriers have all integrated with large pharmacy benefit managers (PBMs) and the major consulting firms have built out specialty pharmacy consulting practices or coalitions. Increasingly, most of the healthcare money is being made in pharmacy. This is a critical fact that each of our clients must understand or they risk overspending on their benefits plan. Viewpoints …

https://www.epicbrokers.com/insights/wheres-the-healthcare-money-made-pharmacy/

EPIC Pharmacy Team Delivers the State of Specialty Drug Spend

Specialty Spend Is on the Rise Again EPIC recently unpacked everything you need to know about the state of specialty, with a specific focus on biosimilar and specialty generics. We continue to see double-digit increases in per member per year cost for specialty drugs, and nearly 40% of that spend occurs in the medical benefit. Rigorous management across both benefits is critical to managing overall specialty spend. This webinar uncovered what is driving increased spend and what you can do about it.  Agenda: Deeper dive into specialty spend and what you can do about it Emerging trends in biosimilar …

https://www.epicbrokers.com/insights/epic-pharmacy-team-delivers-specialty-drug-trends/

Uncovering Barriers to Productivity in the Workplace

EPIC Employee Benefits Advisor John Court Partners with Mental Health America for Well2Work Webinar  Join EPIC and Mental Health America of Northeast Indiana June 17 to hear more about what your employees aren’t telling you.  Mental Health America has created an incredible education program that goes by Well2Work. It provides virtual and in-person training to employers seeking evidence-informed ways to increase their employees’ productivity, engagement, empathy, and resilience. EPIC is proud to have John Court present his first-hand experience leveraging Well2Work with his clients who have seen incredible results from the program. John has seen how …

https://www.epicbrokers.com/insights/uncovering-barriers-to-productivity-in-the-workplace/

IRS Releases Guidance on COBRA Subsidies and Tax Credits

On May 18, 2021, the Internal Revenue Service (IRS) issued Notice 2021-31 providing information about the Consolidated Omnibus Budget Reconciliation Act (COBRA) continuation coverage subsidies created by the American Rescue Plan Act (ARPA). Notice 2021-31 addresses a range of issues pertinent to assisting employers, plan administrators and insurers with understanding the COBRA subsidies and associated tax credits. The IRS notice consists of a background explanation of the ARPA COBRA subsidies and a series of 86 questions and answers (Q&As) with some examples. The notice explains and provides guidance on topics such as the calculation of the credit …

https://www.epicbrokers.com/insights/irs-releases-guidance-on-cobra-subsidies-and-tax-credits/

IRS Releases Additional COBRA Subsidy Guidance

Quick Facts The IRS issued Notice 2021-31, which includes significant guidance on the American Rescue Plan Act of 2021 (ARPA) Consolidated Omnibus Budget Reconciliation Act (COBRA) subsidy. The guidance is clear that reductions in force, terminations for cause, layoffs, and other related terminations are to be treated as an involuntary termination. The guidance clarifies that the subsidy is available for all types of COBRA coverage except for health flexible spending accounts (FSAs). The Notice provides detailed guidance on how employers will recover premium assistance payments against their payroll tax liability. The process is similar to the credit taken for …

https://www.epicbrokers.com/insights/irs-releases-additional-cobra-subsidy-guidance/

It’s Not the Insurance That’s Expensive – It’s the Cost of Healthcare

Healthcare is about to get more expensive. Cell and gene therapy is today’s hot topic as drugs such as Zolgensma, at $2.4 million per dose, strike fear in the eyes of stop-loss insurers and plan sponsors. But the conditions for which those drugs are prescribed are, so far, pretty rare. And the insurance industry is able to spread the risk over the larger population. Viewpoints from Craig Hasday But now there is a new scourge about to hit the market – genomics’ “killer app,” the liquid biopsy. This “killer app” of the genomics world, called MCED (Multi-Cancer …

https://www.epicbrokers.com/insights/its-not-insurance-thats-expensive-its-the-cost-of-healthcare/

2022 Notice of Benefit and Payment Parameters Part Two Has Been Released

The Department of Health and Human Services (HHS) released part two of the 2022 Notice of Benefit and Payment Parameters (NBPP) on April 30, 2021. The NBPP is the annual rule that governs the Affordable Care Act (ACA) marketplaces and insurance reforms. The update most pertinent to group health plans (GHPs) in the part two update of the NBPP is the revised maximum out-of-pocket costs to plan participants. HHS and Centers for Medicaid and Medicare Services (CMS) plan to issue additional rulemaking to finalize the remaining proposed provisions of the 2022 NBPP later this year. HHS Sets the …

https://www.epicbrokers.com/insights/2022-notice-of-benefit-and-payment-parameters-part-two-has-been-released/

Bite-Sized Insights Into a World of Risk Volume 2, Issue 9

Bite-Sized Insights Into a World of Risk  Volume 2, Issue 9 In this issue, we take a focused look at: Feature Focus Cyber Crime in the Crosshairs: How Companies Can Respond Supply Chain and Business Risks FMCSA Emergency Declaration Insurance Products and Coverage Information Presumptive Compensability News of Note Human Resources and Employee Benefits AIHA Seeks Mask Guidance for Employers Insights from Across the Firm The coronavirus crisis created the need to provide commentary on areas of concern. With the evolution of the pandemic, going forward, each issue will include a focus feature on a timely topic impacting the …

https://www.epicbrokers.com/insights/bite-sized-insights-into-a-world-of-risk-volume-2-issue-9/