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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/

Americans Are Lonely

Viewpoints from Amanda LaPointe Let’s be honest – most of us have experienced the negative emotional consequences of the COVID-19 pandemic. Stress, anxiety, restlessness, the list goes on. But one experience that may not be as serious for some of us is loneliness. If you’re a parent with three kids, sure, your stress level is higher than it’s ever been, but you’re not isolated and alone at home – although you’re probably spending more time with your kids than you would prefer! My point is you have a social connection with your loved ones, and you …

https://www.epicbrokers.com/insights/americans-are-lonely/

It’s 2020 and Nothing About Healthcare Is Settled

So, you thought the presidential election would be over and the Supreme Court (SCOTUS) would settle the Affordable Care Act (ACA) once and for all and you could get on with planning. Guess again. It is 2020 and nothing is predictable. As we await the results of the presidential election to be certified, we are also looking at the Georgia runoff elections to determine control of the U.S. Senate. Without single-party control of both houses and the executive branch, healthcare change is going to be difficult to push through. Last week, SCOTUS indicated, as expected, that ACA would …

https://www.epicbrokers.com/insights/its-2020-and-nothing-about-healthcare-is-settled/

Transparency Rule Released Just Prior to 2020 Election

Following through on President Trump’s objective of increasing transparency in healthcare, the Departments of Health and Human Services (HHS), Labor and Treasury released a final rule, Transparency in Coverage (CMS-9915-F). It mandates disclosure of pricing information beginning January 1, 2022 – and starting January 1, 2023, it requires most group health plans and health insurance issuers in the individual and group markets to disclose cost-sharing information to individual and employer-sponsored plan enrollees upon request. These disclosures are separate from the hospital cost disclosures slated to take effect on January 1, 2021. The information includes cost-sharing …

https://www.epicbrokers.com/insights/transparency-rule-released-just-prior-to-2020-election/

Considering Aligned Success for Families and Business

… has been a recent flurry of paid family leave legislation passed in various states, and with it comes a significant amount of work from human resources teams to offer what is required and stay compliant. What if companies led the charge instead? What if companies looked at their policies and benefits from the lens of a parent – what could be done differently that encourages the aligned success of the individual, the family, and the business? Not having children, it’s hard for me to truly understand the challenges of parenthood that are magnified as a working parent. However, countless friends …

https://www.epicbrokers.com/insights/considering-aligned-success-for-families-and-business/

Newest 2020 Trend: Premium Holiday

… dislocation of businesses and homeowners from their natural community, and the general economic uncertainty continue to drive lower healthcare claims spend. It’s anybody’s guess when things will fully return to normal. Viewpoints from Adam Okun This begs the question for employers – what, if anything, should be done with employee contributions? In many instances, rates are not projected to increase in 2021, and given the current climate, many employers are opting not to increase employee contributions in the new year. However, some employers are going a step further… and giving employees money back! The concept of rebates to members …

https://www.epicbrokers.com/insights/newest-2020-trend-premium-holiday/

Set Your Employees up for Medicare Success

… conversation with your employees long before they become Medicare-eligible. Generally, they’ll be able to enroll during their seven-month Initial Enrollment Period, which includes the three months before and the three months after the month of their 65th birthday. What Should Your Medicare-Eligible Employees Know? Although an employee may become eligible for Medicare, they can opt to remain on their current health plans. But if an employee chooses to stay on their current employer-provided insurance while Medicare-eligible – particularly an employee considering a Health Savings Account (HSA) option – they must know the rules. It’s important …

https://www.epicbrokers.com/insights/set-your-employees-up-for-medicare-success/

The Employer Healthcare Market Appears to Be Stable – but for How Long?

… The concern is over a resurgence or a second wave, but this does not appear to be materializing. Viewpoints from Craig Hasday And the cost of care to employees and employers also seems to be relatively stable as compared to 2019. The just-released Kaiser Family Foundation 2020 Employer Health Benefits Survey indicates a 4% increase in medical insurance costs from last year, with family coverage at $21,342 and employees paying 26% of this total. The average employee contribution for single coverage was 17% in 2020 and 27% for families. This compares to wages which increased by 3.4 …

https://www.epicbrokers.com/insights/the-employer-healthcare-market-appears-to-be-stable-but-for-how-long/