As you may recall, with the introduction of Medicare Part D prescription drug benefits, the Centers for Medicare and Medicaid Services (CMS) imposed specific notice requirements on employers. Each year, employers whose healthcare plans include prescription drug benefits are required to notify all Medicare beneficiaries and the CMS of the “creditable” or “non-creditable” coverage status [...]
Article as seen in Employee Benefit Adviser on October 11, 2016, written by Stephany Verstraete Today widespread confusion persists regarding what is required to unleash the powerful cost savings potential of a robust telehealth benefit. Articles whitewash the landscape with talk of “average utilization rates,” and “check-the-box” options promising to do it all. The reality [...]
Article as seen in HHC Group Newsletter distributed from HHC Group. A new study by Johns Hopkins University concludes that hospitals are taking exorbitant markups, mostly in markets in which they face little or no competition. The researchers found no correlation between price and care quality. Published in the journal “Health”, the study quantifies the [...]
If your health plan is like most, finding ways to help members manage healthcare expenses is a top priority. Offering one or more tax advantaged healthcare spending account can help. Health Savings Accounts (HSAs) – Employers and employees can contribute to an HSA tax free and funds can roll over from year to year. To [...]
In a handful of years, we’ve seen a resurgence in hospital consolidation, which is the merger or acquisition of two or more hospitals with the goal of combining assets and maximizing efficiencies1. PricewaterhouseCoopers deemed 2016 “the year of merger mania” for hospitals, physician practices and healthcare systems2, and so far, it’s living up to their [...]
With research showing that the average cost of healthcare surpassed $11,000 per employee in 2015, stretching every healthcare dollar is a must. Since self-funding is the foundation from which so many cost control strategies emerge, we encourage you to take this step if you haven’t already done so. Understand the Needs of Your Group Since [...]
If you’re in an industry with significant turnover and varied work schedules, a Minimum Value Plan may be an affordable way to meet the requirements of the Affordable Care Act. A Minimum Value Plan is one that pays at least 60% of the total allowed cost of benefits expected under the plan. And while a [...]
Article written by Austin Frakt as seen in The New York Times on August 8, 2016 At a time when health care spending seems only to go up, an initiative in California has slashed the prices of many common procedures. The California Public Employees’ Retirement System (Calpers) started paying hospitals differently for 450,000 of its [...]
While all treatment costs have risen consistently in the past 2 decades, the pharmaceutical sector has put up some amazing numbers. In 2011 alone, Americans spent an average of $985 per person, approximately twice the amount spent in other developed countries for the same benefit. In 2015, aggregate prescription drug sales in the U.S. totaled [...]
By implementing RealTimeHealth, a product of American Health Data Institute, Diversified Group is helping health plans make it easier for diabetics to manage their condition. RealTimeHealth includes a state of the art glucometer and a 24/7 care support system designed to encourage and motivate members to do what’s needed to control their condition. A cellular [...]
