This article was published on March 18, 2020 on BenefitNews.com, written by Amanda Schiavo. Photo Source: BenefitsNews.com. The coronavirus is causing concern around the world, impacting the health and safety of millions and upending the global economy. As stock prices plunge and a possible recession looms, employers and self-insured organizations may react by cutting excess [...]
Coverage for COVID-19 Testing and Treatment Earlier this month, the administration announced that testing for COVID-19 was deemed an essential health benefit for coverage purposes. However, it is not considered preventive and is therefore subject to any deductible, copay or coinsurance applied to diagnostic testing under your plan. Testing and treatment provided at approved locations in accordance [...]
Wellness must be relevant and easily accessible to your employees. Studies have shown that worksite wellness programs generate anywhere from $1.50 to $6.00 in healthcare savings for every dollar spent. Our worksite wellness subsidiary, Corporate Fitness & Health (CF&H), confirms that the vast majority of clients agree that their program has lowered healthcare costs and [...]
The Kaiser Family Foundation employee health benefits survey for 2019 shows that the cost of annual premiums for employer-sponsored health insurance plans have reached $20,576. While there are differences between small and large employer groups, costs are rising faster than wages for both and average contributions by employees have reached $1,242 for single coverage and [...]
While the National Business Group on Health has forecasted a 5% increase in the cost of healthcare benefits, others are expecting employers to dedicate more resources to health and wellness. More emphasis will also be placed on the use of digital tools to identify lower cost providers and boost employee engagement. Experts say the trend [...]
From hospitals to insurers, you’ve probably heard many say that the goal is to provide the right healthcare, at the right time, in the right place. When it comes to the infusion of high-priced specialty drugs, location can make a huge difference. As an example, the variance in the cost of hospital-administered multiple sclerosis drugs [...]
Doctors representing several Physician associations recently appeared before the U.S. House of Representatives to encourage legislators to streamline the prior authorization process which they say is out of control. A spokesperson representing the American Academy of Family Physicians said that a process initially implemented to prevent unnecessary and extremely costly treatment has led to physician [...]
New Jersey: Health Insurance Mandate In 2018, New Jersey Governor, Phil Murphy, signed into law The New Jersey Health Insurance Market Preservation Act. This law requires all New Jersey residents to have health insurance or pay a penalty. Lawmakers in New Jersey drafted this legislation in response to the decision to eliminate the ACA individual mandate with the [...]
When Alexa Kasdan's sore throat lingered for more than a week, she went to her doctor. The doctor sent her throat swab and blood draw to an out-of-network lab for sophisticated DNA tests, resulting in a $28,395.50 bill. (Shelby Knowles for Kaiser Health News). This article was published on December 23, 2019 on NPR, written [...]
It’s doubtful that many technology companies are concerned about employees nearing age 65. Other employers, however, may want to brush up on Medicare eligibility in order to help older workers understand their options and avoid any potential gap in coverage. Here are just a few Medicare-related concerns: For employees who will lose access to employer-sponsored [...]
