(303) 369-3200

Displaying items by tag: health insurance broker

Tuesday, 26 September 2017 18:41

Have you updated your CHIP notice?

The U.S. Department of Labor has released an updated Children's Health Insurance Program (CHIP) model notice.  When was the last time you updated your required Annual Notices? Why does this matter?
Published in Compliance
Tuesday, 29 August 2017 11:16

Making Wellness Wearables Work

Employers are constantly looking for ways to create effective, value-driven wellness programs for employees.  Wearables, such as various Fitbits (Charge 2, Blaze and Alta HR) and the Garmin Vivoactive, or watches from Apple or Samsung, have become a common motivational tool for employers who are implementing wellness programs. 

A recent survey conducted by Springbuk found that 35 percent of employers are currently using wearable devices. 
Published in Wellness
In a Twitter message on July 29th, U.S. President Donald Trump threatened to end government payments to health insurers if Congress did not pass a new healthcare bill. Trump tweeted "If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!"

The “BAILOUTS” that President Trump is referring to is the approximately $7 billion in cost-sharing reduction subsidies the federal government pays annually to reimburse insurers who are required under the ACA to reduce deductibles and out-of-pocket maximums for low-income Americans. Because of a pending lawsuit, the payments, which are determined by the Department of Health and Human Services, are currently being doled out on a month-to month basis. 
Published in Industry Trends
Tuesday, 08 August 2017 10:40

Common Misconceptions about Generic Drugs

Generic drugs are a cheaper option than brand-name drugs, and work just as well for the vast majority of people. According to the FDA, the savings reach as much as 90% when prescribing generic vs. brand-name, saving consumers up to $10 billion every year.

Despite this cost advantage, there are a lot of misconceptions that are keeping consumers at arm’s length. 
Published in Best Practices
Opiate addiction is a major issue in the U.S., most of which originates from prescription opiates, which are surprisingly easy to obtain. In fact, an estimated 207 million prescriptions for opiates were dispensed in 2013 alone. Prescription opiate abusers are far more likely to eventually develop an addiction to an illicit drug (such as heroin) addiction than a non-opiate abuser, as heroin will offer a similar high at a cheaper price. 
Published in Best Practices
Tuesday, 18 July 2017 11:23

Cybersecurity in a Post-HIPAA world

Cyber security is a topic we all see and hear about every day, whether from friends, colleagues or the news. The reality is, cybersecurity attacks are becoming more constant and aggressive with their techniques and targets, and it is our responsibility to learn how to protect our businesses from attacks.
 
Those who handle benefits have access to Protected Health Information (PHI), and thus must take particular precautions to protect this sensitive data.
Published in Best Practices
Tuesday, 11 July 2017 11:14

Is YOUR Wellness Program Making a Difference?

These days, most companies have some sort of worksite wellness program, whether it’s a monthly wellness newsletter, an annual health fair, or weekly exercise challenges.  At Fall River, for example, we participate in weekly Fitbit challenges, which definitely encourages us to log more steps every day!
 
When you think about your company’s wellness program, you may wonder how effective it is in actually improving the health of your employees.
Published in Wellness

The American Health Care Act (AHCA) bill was passed by the House of Representatives on May 4, 2017. (To catch up on the content of the House bill, click here).  Instead of agreeing with The House proposal, Senate Republicans instead drafted their own bill, released on June 22, called the Better Care Reconciliation Act (BCRA).

This BCRA bill includes features such as:

Published in Healthcare Legislation
Wednesday, 28 June 2017 14:11

Filing Deadline for PCORI Fees 7/31/2017

The Patient Centered Outcomes Research Institute (PCORI) fee is due July 31, 2017 for employers with any type of self-funded plan and/or a Health Reimbursement Arrangement. 

The fee helps fund unbiased research that evaluates the clinical effectiveness of medical treatments regardless of the profit potential. This fee is also known as the Comparative Effectiveness Research Fee, or CERF.

Published in Healthcare Legislation
Wednesday, 14 June 2017 14:02

Finally, a Little Relief on Drug Trends

According to an article released by Optum, recent data shows Hepatitis C medications are positively contributing to specialty drug trend reductions and achieving lasting clinical results.

FDA approved medications for Hepatitis C, such as Sovaldi and Harvoni, started entering the market in 2013, and with great controversy. These medications have been effective, but at a huge cost. The initial price (which has since moderated) of a single course of a typical drug could run $85,000 – 95,000 in just three months.
Published in Industry Trends
Page 2 of 9