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Employers Mandating the COVID-19 Vaccine

One of the tangential effects of being in the healthcare brokerage business is that on the occasion there’s a global pandemic, employers turn to you for answers. And I’ll let you in on a dirty little secret – we are learning on the fly as well! Initially, there were many questions about how to effectively disinfect the work environment, what reasonable return-to-work standards are, how to gain access to personal protective equipment (PPE), and what specific services and communications target work-from-home employees. But now all the rage is vaccinations – questions such as “can we access …

https://www.epicbrokers.com/insights/employers-mandating-the-covid-19-vaccine/

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

… another massive stimulus package to help American families cope with the crippling economic effects of the virus. The COVID-Related Tax Relief Act of 2020 (COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR), which are included in the Continuing Appropriations Act, 2021 (CAA), include continued funding under the Paycheck Protection Program and Health Care Enhancement Act, further enhanced unemployment benefits, more loans to small businesses and another round of stimulus checks to be issued to most individuals earning under $87,000. In addition, the bill contains provisions that will impact employers who sponsor cafeteria plans

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

Know, Feel, Do: Helping Employees Make the Decision That’s Right for Them

As we approach the end of a tumultuous year, our clients and their employees are facing additional changes and critical decisions that may (at least temporarily) add disruption and stress. Questions around the COVID-19 vaccine and how the company will “return to work” once the pandemic has subsided are just two issues keeping HR folks awake these days. Viewpoints from Bob Simpson Businesses often try to inundate their employees with as much information as possible, assuming this will help everyone reach the same conclusion. The reality, particularly in today’s environment, is that employees can easily be overwhelmed – and …

https://www.epicbrokers.com/insights/know-feel-do-helping-employees-make-decisions/

“Mental Health” Focus – Trend or Here to Stay?

… asked him how he was doing, he said, “my cats are literally my lifeline.” While his coping mechanism seems to be working for him, an increasing number of people are experiencing difficult times – and they’re not sure where to turn. Now that employers are seeing the impact on productivity, employee satisfaction, and employee health from the anxiety and depression brought on by side effects of COVID (social isolation, fear, lack of exercise, exhaustion) we were curious what steps our clients were taking to address them. Our recent Mental Health and Wellbeing Pulse Survey had some fascinating results. What we …

https://www.epicbrokers.com/insights/mental-health-focus-trend-or-here-to-stay/

Vaccine Costs Aren’t Likely to Break the Banks of Corporate Health Plan Sponsors

The New York Times (NYT) reported that 13 vaccines are currently in the final stages of testing. Phase 1 testing involves a small sample of people to test safety, dosage, and confirm that the immune system is stimulated by the drug. Phase 2 increases the sample to hundreds of people, testing further for safety/efficacy, and segments the test group to see if different populations experience different outcomes. Phase 3 involves thousands of patients, some of whom receive a placebo. Along the path toward approval, testing may be halted in the event adverse or unexpected outcomes are noted. This has …

https://www.epicbrokers.com/insights/vaccine-costs-arent-likely-to-break-the-banks-of-corporate-health-plan-sponsors/

Will Amazon Pharmacy Change Healthcare?

Viewpoints from Craig Hasday The market shuddered at the announcement of Haven Healthcare – the partnership between Amazon, JPMorgan Chase and Berkshire Hathaway. This powerful trio combined financial savvy with insurance and distribution expertise. Surely, they would meaningfully move the market. Well, so far – not so much. Healthcare indeed represents almost 20% of Gross Domestic Product (GDP), but it’s also true that the status quo is a powerful force, especially when combined with significant political lobbying clout adding to federal and state governmental pressure. It’s no wonder change is difficult to enact. When Amazon bought PillPack in June 2018 …

https://www.epicbrokers.com/insights/will-amazon-pharmacy-change-healthcare/

Pharmacy Update Nov 2020

Amazon Announces Two New Entities in the Pharmacy Channel Recently, Amazon announced its launch of two new entities in the pharmacy channel, Amazon Pharmacy and Amazon Prime Prescription Savings Benefit. Amazon has been slowly entering into pharmacy over the last couple of years after its acquisition of Pill Pack. Amazon Pharmacy is the company’s newly minted online pharmacy business built on the backbone of PillPack. Amazon is finding ways to work with retail channels via its exclusive relationship with InsideRx powered by Express Scripts. The new entity enables customers to upload their insurance information onto the online platform, have …

https://www.epicbrokers.com/insights/pharmacy-update-nov-2020/

BCBS Antitrust Settlement Could Be a Game Changer – Especially in Smaller Markets

In September, a tentative $2.7 billion settlement was reached with BlueCross BlueShield (BCBS) in an antitrust action brought on behalf of over one million individual and corporate policyholders. BCBS plans cover 109 million, or almost one-third of Americans. Under long-standing rules governing BCBS Association members, insurance purchasers could only transact insurance business with the plan located in the state where their headquarters were based – unless the home-state plan granted permission to obtain a proposal from a BCBS plan based in another state. This was true even if the employer had offices or employees in multiple states …

https://www.epicbrokers.com/insights/bcbs-antitrust-settlement-could-be-a-game-changer/