Since the passing of the Affordable Care Act back in 2010, self-funded health care plans have been increasing in popularity with small businesses. The requirements of the ACA led businesses to assess how they were funding their employee insurance and benefits plans. Ever-changing regulations are difficult to keep up with, and a self-funded healthcare plan…
Read moreAs healthcare premiums continue to increase, and employee needs increasingly diversify, the majority of employers seem to be searching for options. A self-funded or level-funded health plan can be attractive to employers in a variety of different reasons, the most of which is saving on claims and ensuring a higher level of financial security. What…
Read moreERISA is an acronym that stands for the Employee Retirement Income Security Act. The ERISA Plan is a federal law that was passed in 1974 with the intent of helping protect the funds and assets of retired people. ERISA also has protections for employers as well. The ERISA law does not impact all employers, and…
Read moreRisk Management in Healthcare is as crucial as it is unique. No matter what the industry, every business has a protocol in place to minimize risks. In addition, they help increase things like employee safety and morale. In healthcare, the field deals primarily with the lives, safety, and wellbeing of patients. This gives healthcare risk…
Read moreAs a self-insured employer, you know that self-funded healthcare plans come with benefits and risks. How can stop loss insurance protect your business, and do you really need it? What types of companies take out stop loss insurance? Is there contract terminology associated with medical stop loss? Read on if you’re still on the fence…
Read moreIf you’ve been thinking about adding stop loss coverage for your self-funded healthcare plan, you no doubt have some questions. You want to know if you really need stop loss coverage, which broker or managing general underwriter is right for your business, and so on. When doing your research and choosing which stop loss services…
Read moreIn the constantly changing world of healthcare, employers are seeing premium costs increase steadily, so many of these employers seek out options to cut insurance expenses. One of these options is to use a self-funded health insurance plan. Rather than purchasing a traditional fully insured healthcare plan from a large carrier, the employer covers employee…
Read moreIf you’re reading this blog, we hope you know by now that level funded healthcare can help protect your business from abnormally high costs. Now, maybe you want to dig a little bit deeper and start understanding more facts about your medical stop loss coverage and explore some more of the options you have to…
Read moreHealthcare risk management is a diverse field that is constantly evolving. A healthcare risk manager can mean something different, depending on which professional you ask about it. The risk management professional is one that has learned to become flexible and adapt to changes within healthcare and medical insurance. What Do Risk Managers Do? The answer…
Read moreThe future of many industries is fascinating and highly promising. Of course, health care is no different when it comes to cutting edge treatments and technologies. One of the most exciting emerging areas of healthcare is called precision medicine or personalized medicine. Precision Medicine Defined According to the Precision Medicine Initiative, precision medicine is “an…
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