May 31, 2022
According to research from RAND Corporation, employer-sponsored health plans paid over twice as much as Medicare to hospitals for the same services at the same sites. This is an annual study performed by RAND, in which the 2018 study found that employers paid 247 percent of Medicare. Don’t pop the champagne to celebrate that reduction …
May 24, 2022
PBMs, or Pharmacy Benefit Managers, get a lot of attention in employee benefits plans, and for good reason. Prescription drugs account for 30, 40, or even 50% or more of a group’s medical claims, and are a huge driver of rising healthcare costs for employers and employees. If you aren’t paying attention to your prescription drug …
May 23, 2022
Competitive wages are no longer enough to satisfy and support valued employees. Today, a variety of benefits and perks play an essential role in attracting and retaining talent. Lifestyle benefits, sometimes referred to as employee perks, are non-salary benefits given to employees to improve their overall lifestyle that go above and beyond standard medical, dental and …
May 16, 2022
A MERP or Medical Expense Reimbursement Plan is a type of HRA (Health Reimbursement Account) where employers can pay for a portion of employees’ healthcare costs on a tax-free basis. They’re most frequently utilized with high deductible health plans so that employers have the flexibility to tailor a plan to their needs and the needs of their employees. …
May 16, 2022
“Suck it up,” “cheer up,” “snap out of it,” “but you don’t look sick”- these are just some of the phrases that well-meaning friends and family tell loved ones struggling with mental health issues. Research shows that one in five adults struggle with mental health conditions. Mental health struggles include depression, bipolar disorder, anxiety, schizophrenia, …
May 13, 2022
Health plan price transparency helps consumers know the cost of a covered item or service before receiving care. Beginning July 1, 2022, most group health plans and issuers of group or individual health insurance will begin posting pricing information for covered items and services. This pricing information can be used by third parties, such as …
May 9, 2022
May is Mental Health Awareness Month and we must give special attention to those who die by suicide in this country. The annual rate of suicide continues to rise, despite greater mental health awareness across the country. Sadly, suicide was the leading cause of death among individuals between the ages of 10 and 34 in …
