October 16, 2020
Stop-loss insurance is a key part of the self-funded group’s risk management program. While self-funding health benefits has its advantages, these plans do carry greater financial risk than purchasing traditional, fully-insured health plans from major carriers. It’s important to understand both how stop-loss insurance works and how much it costs. Costs for Groups with Self-Funded …
October 14, 2020
Small employers across the country consider self-funded health insurance as a way to provide affordable health benefits for their employees. Statistically, a large or mid-sized group is more likely to self-fund their medical benefits than a small employer because of the financial risks involved. This makes sense given that one large claim could represent a …
October 9, 2020
With the United States spending nearly 18% of it’s GDP on health care, which works out to $3.6 trillion or $11,172 per person, pressure for reducing costs is growing. U.S. health care spending grew 4.6% in 2018. If that continues, our system will eventually be forced to change. To make change today, many organizations are …
October 6, 2020
Most large employers self-fund their health insurance and medical benefits rather than using traditional health insurance. This gives them opportunity for savings but does expose them to large and catastrophic claims. While an employer can realize the benefits from exercising more control over their healthcare savings, they could find themselves in the red due to …
October 2, 2020
Health care is becoming increasingly expensive for Americans. This isn’t news and recent data backs it up. Health insurance premium contributions and deductibles combined are a good measure of total health care costs for Americans. Recent Findings Suggest American Workers are Spending More on Health Care According to this measure, the Commonwealth Fund of NYU …
October 1, 2020
The U.S. healthcare system has two categories of payers, pubic and private. And according to a new RAND study that looked at 2018 data, prices paid to hospitals by privately covered patients averaged 247% of what Medicare would have paid. The exact figure for a given state varied widely. The authors of the study analyzed …
