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Five Employee Benefits Trends for 2021

March 1, 2021

 Today, we’re sharing with you five employee benefits trends for employers in 2021! The general theme for employee benefits in 2021 is the increasing interplay between technology and data. This interplay impacts everything in healthcare and employee benefits, such as utilization, spending, behavioral health, and beyond. Telehealth With the disruption caused by the COVID …

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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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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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What Does It Mean For a Group To Be Self-Insured?

September 24, 2020

A majority of U.S. employees are covered by self-funded healthcare plans. What does that mean for those companies who self-fund their medical benefits? Self-Funding vs. Fully Insured Traditional health insurance, known as fully-insured, is purchased from a health insurance carrier, who sets a certain premium for the plans made available to employees. The carrier administers …

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