In late June, President Trump signed an executive order directing HHS to develop rules requiring hospitals to publish clear and understandable pricing that reflects what people will actually pay for services. HHS Secretary Alex Azar added that the order should also make certain that providers and insurers provide patients with information about potential out-of-pocket costs [...]
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For Members of a Local Association, the Answer Is YES! Every time we talk with fully-insured employer groups about the advantages of Self-Funding, we emphasize that unlike fixed monthly premiums, Self-Funding offers the potential for savings. When claims are at or below anticipated levels, the savings remains with the plan rather than an insurance company. [...]
A recent article described a high school student who was inspired to attend a local community college for two years before transferring to a 4-year state university rather than attending the state university immediately after graduation. His decision resulted from taking a financial literacy class at his high school, which made him realize that his [...]
The IRS recently published finalized rules easing restrictions on health reimbursement arrangements (HRAs) to allow employers to provide their workers with tax-preferred funds to pay for the cost of health insurance coverage they buy in the individual market. The regulation is part of the Trump Administration’s commitment to deliver more health coverage choices to Americans. [...]
Another major insurance carrier has cooperated with selected healthcare providers in two states to introduce a bundled payment program for maternity care. Like bundled payment programs used by Medicare and commercial carriers for total joint replacement, the bundled maternity program reimburses the care provider for an entire episode of care, including prenatal, delivery and postpartum [...]
This article was published on October 15, 2019 on MarketScreener.com written by Melanie Evans. Employers are increasingly going the distance to control health spending, paying to send workers across the country to get medical care and bypassing local health-care providers. One of the latest is Amazon.com Inc., which will pay travel costs for workers diagnosed [...]
Employees will be able to save some additional healthcare dollars in 2020 as the IRS will increase the limit on deductible contributions to an HSA by $50 for individuals and $100 for families. The limits will be $3,550 for individuals with self-only coverage and $7,100 for family coverage. The minimum deductible for a qualifying high [...]
With the Centers for Disease Control and Prevention projecting that 83 million people will soon have three or more chronic diseases, the number of employers working to manage chronic conditions like diabetes, high blood pressure and coronary artery disease is staggering. Not only do the average medical costs for a diabetic exceed $16,000 per year, [...]