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Now Is the Time to Make Incremental Changes to Healthcare

Viewpoints from Craig Hasday The Fortune 500 list is out, and I was slightly surprised to see that the big four health insurance companies: UnitedHealthcare, CVS-Aetna, Cigna and Anthem are all in the top 30 U.S. companies ranked by revenue. These companies represent nearly $757 billion in revenue and include the three largest pharmacy benefit managers (PBMs): Optum, Caremark, Express Scripts, and Anthem has now started Ingenio, a new, but certain to be powerful, PBM. They represent $437 billion in market value, $30 billion in profits, and have about 759,300 employees. The revenue results do not factor …

https://www.epicbrokers.com/insights/now-is-the-time-to-make-incremental-changes-to-healthcare/

Second-Order Effects of COVID-19

… seeking the safety of suburbia. We are likely still several months from seeing the real impact of this near-term deurbanization, but it’s hard not to see how that won’t vastly impact the economic reality and vibrancy of city life for years to come. On the health and benefits front, there are a variety of dramatic market changes – some of which are temporary, but many that feel may have a more lasting impact: The item getting the greatest focus is telemedicine. Early indications are that virtual visits are up 20 times from the same period one year ago …

https://www.epicbrokers.com/insights/second-order-effects-of-covid-19/

Determining Return-to-Work Protocols

… for COVID-19 symptoms and helps employers manage the return-to-work process safely. I have not previewed this version; however, I have seen several symptom checklists that result in a green-light email signifying it’s okay to return to work, or a red-light email, which refers the employee to a physician for further evaluation and potential virus testing. This week, we hosted a webinar with Piedmont Health Systems – a large hospital and healthcare system in the Southeast – and to me the content was fascinating. It highlighted return-to-work practices and important considerations. In addition to employee …

https://www.epicbrokers.com/insights/determining-return-to-work-protocols/

Multi-State Employers Face Complexity Surrounding COVID-19

… for more than two hours. In San Francisco, the law extends to employers who have temporarily closed or halted operations. While people can debate the appropriateness of such laws – typically based on political viewpoint – I want to explore the objective complexity for employers. One of the key reasons that the Employee Retirement Income Security Act (ERISA) was passed in 1974 was to create a single set of employee benefit rules for multi-state employers. The law protects employees from the loss of benefits which were promised and protects employers from having to manage a multitude of often competing regulations within …

https://www.epicbrokers.com/insights/multi-state-employers-face-complexity-surrounding-covid-19/

Your Insurance Advisor, Your Invaluable Partner

… finding creative avenues to deliver affordable care has been a priority at EPIC. We quickly embraced and advocated telemedicine and mail-order drugs. We offered benefit solutions to those losing employer-sponsored care, including suggesting urgent and routine care partnership products and voluntary plans to make up for lost employer benefits. Our compliance team delivered guidance on federal and state legislation as an urgent priority, ensuring that our clients had access to the rapid onslaught of laws and regulations which became the lifeblood of those needing medical care, income replacement and simply some order around how their lives would be …

https://www.epicbrokers.com/insights/your-insurance-advisor-your-invaluable-partner/

Coronavirus & Workplace Wellbeing: Supporting Emotional Health

Before the coronavirus (COVID-19) crisis hit, many Americans were in need of emotional support and experiencing loneliness. Now that we’re dealing with a global pandemic, those individuals are enduring more intensified stress. And new individuals have joined the ranks – many people are undergoing unprecedented emotional stress due to social isolation, remote working challenges, and financial uncertainty. For more of our coronavirus coverage, visit epicbrokers.com/coronavirus  Viewpoints from Amanda LaPointe Right now is the time to be there for your workforce, to help them manage their emotional wellness and successfully get through each day, one day at a …

https://www.epicbrokers.com/insights/coronavirus-workplace-well-being-supporting-emotional-health/

Government-Provided Healthcare Sounds Good – but Sometimes the Devil You Know Is Better

Viewpoints from Craig Hasday Politico reported today that states are facing difficult cuts to benefits and services as a result of the coronavirus. The biggest budget line item for states is, of course, Medicaid. With the dramatic drop in income and sales tax revenue and the surge in newly eligible citizens, states are facing tough decisions. In the last downturn, “non-essential services” like dental care and podiatric services were cut, and payments to doctors and hospitals were slashed in a desperate effort to contain costs. This crisis is sure to be worse… much worse. Remember that under the Affordable …

https://www.epicbrokers.com/insights/government-provided-healthcare-sounds-good-but-sometimes-the-devil-you-know-is-better/

If COBRA Wasn’t Confusing Enough, the White House Is Going to Mix It up for You

Viewpoints from Craig Hasday The federal government has been at it again with their point-and-shoot (whatever happened to aim?) rule writing. This time the Department of Labor (DOL) and the Department of Treasury, which directs the Internal Revenue Service (IRS), jointly issued a final rule extending notice and election times for Consolidated Omnibus Budget Reconciliation Act (COBRA) and Health Insurance Portability and Accountability Act (HIPAA) special elections, among other extensions. This whopper is retroactive to March 1, 2020 (really?) and applies to all plans subject to Employee Retirement Income Security Act (ERISA), which would include self-insured plans …

https://www.epicbrokers.com/insights/if-cobra-wasnt-confusing-enough-the-white-house-is-going-to-mix-it-up-for-you/