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What to Know About the Second Round of the Paycheck Protection Program (PPP)

January 14, 2021

In a time with so much instability, uncertainty, and economic duress, some good news comes out of Washington D.C. for small businesses. The Paycheck Protection Program is a government response to the economic disruption caused by the COVID-19 pandemic. The first round provided critically needed funds to companies to stay afloat, meet payroll, and survive …

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What does Stop-Loss Insurance Cost?

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 …

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Types of Value Based Care Models

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 …

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Statistics about Stop-Loss Insurance and Claims

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 …

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RAND Study Finds That Private Health Plans Pay 247% of Medicare

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 …

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How Common Are Medical Billing Errors?

September 25, 2020

Medical bills in the U.S. can run 5, 6, and even 7-figures in certain instances. With that much money on the line, medical bills generated by providers and hospitals should be fairly accurate, right? Think again. Upwards of 80% of Medical Bills Contain Errors According to Pat Palmer, CEO and founder of Medical Billing Advocates …

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Pros and Cons of Self-Funded Health Insurance

September 25, 2020

With a majority of U.S workers receiving their medical benefits from self-funded healthcare plans and a significant portion of U.S. employers self-funding, groups may be wondering if self-funding is right for them. There’s no solid yes or no answer to this question, as the answer depends on each company’s unique situation and characteristics. Let’s look …

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