Best Practices (81)
Read about leading practices in employee benefits.
Friday, 23 October 2020 10:28
Fall River Client Saves $200,000 with Health Reimbursement Arrangement
Written by Adam Wright
Fall River has written in past articles about how Health Reimbursement Arrangements (HRAs) can be a valuable cost-containment strategy while effectively rendering employees’ benefits unchanged. We recently completed an internal analysis of one client who was able to slash their effective renewal increase down from 15% to 5% by adjusting…
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Best Practices
Thursday, 24 September 2020 22:33
Taking Virtual Open Enrollment to the Next Level
Written by Amy De Lorenzo
It’s clear that virtual open enrollment meetings are part of our new normal. Whether you’ve been doing them for years or for the first time this year, there’s a lot to consider if you want to make them as successful as possible. Fall River has been assisting our clients with…
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Thursday, 23 July 2020 09:40
Slash Healthcare Costs Without Slashing Benefits
Written by Kristen Russell
Healthcare costs have increased faster than inflation almost every year for at least the last 30 years. Switching carriers, raising out-of-pocket costs, and asking employees to pay more out of their paychecks should be your last resort.
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Best Practices
At Fall River we understand that during the past few months, everyone has been focused on the Coronavirus. As employers start to come up for air and tally up the financial hits from the pandemic, it’s more crucial than ever to find ways to save money and still be able…
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Best Practices
At Fall River we receive many questions regarding disability policies, and COVID-19 has introduced a plethora of new inquiries. Since disability provisions can be confusing and can vary between carriers, we’ve gathered a list of the most common questions our clients have posed to us.
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Friday, 03 April 2020 13:52
Standalone Telemedicine Offers Savings Opportunities
Written by Adam Wright
Telemedicine has been a solution for employers and employees seeking more convenient round-the-clock care for years. Since the COVID-19 pandemic began and traditional in-person doctor’s offices have closed or moved to restricted visits, telehealth is no longer a novel benefit, but a vital part of any benefits package.
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Best Practices
Another year and renewal season have zoomed by, and while it’s tempting to sit back and relax until the next renewal period, there are several benefit-related projects that you should tackle before then.
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The Kaiser Family Foundation has released their 2019 Annual National Employer Benefits Survey. The survey has been tracking benefit statistics from private and non-federal public employers in the United States for the last 21 years.
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Most HR professionals have heard of a Health Reimbursement Arrangement (HRA), but may be unsure about the different types and how they can help both employers and employees save significantly on healthcare costs. There are now several types of ACA-compliant HRAs, but this month we’re focusing on Group Coverage HRAs.
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Direct Primary Care (DPC), aka “concierge medicine,” is an alternative provider payment model gaining traction with employers who are tired of high health insurance rates and their employees not receiving the care they need. Instead of billing the insurance carrier for routine care, DPC providers usually charge a monthly flat…
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Friday, 21 June 2019 14:13
Selecting the Right HRIS Technology for Your Organization
Written by Tonya Young
There’s no question that great technology can propel an organization forward, and we’ve worked with many companies that are either looking to implement new HRIS software or change to a platform that better suits their business needs. The rewards of improving your technology are high, but the challenges can be…
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Best Practices
As most employers know, employees who have a traditional copay-style plan can be eligible for a Flexible Spending Account (FSA) plan to cover medical expenses pre-tax. But, If the employer instead offers a High-Deductible Health Plan or HDHP, employees can contribute into a Health Savings Account (HSA) on a pre-tax…
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As you know, Fall River specializes in brokering group healthcare policies for our valued clients. However, we realize that benefits are just one component of your Human Resources obligations. We have spent many years cultivating solid relationships with trusted strategic partners in other areas of your business operations.
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Best Practices
Auditing your monthly insurance carrier invoices may not be the most exciting task on the HR to-do list, but it’s absolutely necessary to ensure correct employee enrollments and premiums. In our experience, carriers are much more likely to work with employers on correcting errors caught in the first few months,…
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Best Practices