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R&R Insurance Blog

Release of exchange insurers intended for July

Posted by Jane Shevey

April 30th was the deadline for the Wisconsin health insurers to motion if they will join the exchange. While Gov. Scott Walker rejected a state run exchange, insurers still needed to file their plan designs for the federally run exchange. However, information on their plan designs and rates will not be released by the Office of Commissioner of Insurance until July. With enrollment for the exchange scheduled to start in October for January 1, 2014 renewals; this information is essential to companies considering whether to continue offering medical benefits or to send their employees to the exchange.

Companies with 50+ employees are those mainly looking toward the exchange. The penalty for not providing health insurance is $2000-$3000 per employee per year; much less than paying for health insurance with double-digit increases on the horizon.

Reasons for the high premiums may be because of the following inclusions:

  • High risk profiles for those in the exchange that other insurers won't cover.
    • Pre-existing conditions
    • Members in the Wisconsin Health Insurance Risk-Sharing Plan (HIRSP)
  • New limit on ratings based on age.

Wisconsin Business; for more information regarding R&R’s Play or Pay calculator; contact Jane Shevey.

Topics: Employee Benefits, Health Reform, Healthcare, Business Insurance

How do claims analytics reports lower health care costs?

Posted by the knowledge brokers

Claim analytics reports can target high risk claims and provide ideas to lower health care costs. The average employer will pay an additional $3000-$4000 annually per risk per employee, so it is important that a company works with an insurance agent to strategize on the following:

  • Isolate problem areas
  • Customize a wellness program to focus on prevention and high risk reduction
  • Educate employees on the effects of a negative lifestyle
  • Capture premium savings by making plan changes

WellCompForLife is R&R's stretigic method to controling health care costs. For more information, contact Knowledge Broker Laura Stehno today.

 

Topics: Employee Benefits, Wellness, Healthcare, Business Insurance, WellCompForLife

Gathering claims analytics reports

Posted by the knowledge brokers

Obtaining claims analytics reports and identifying areas of concern shown in the claims history can easily be done by your insurance angent. Insurance agents are the key to guiding large employers on the best approaches for their company and develop cost-savings options. Using analytical tools, such as a benchmark, will also help a company see how their plan matches up in their industry and size.

R&R's stretigic method to controling health care costs is WellCompForLife. Contact a R&R Knowledge Broker today to develop your cost-saving options.

Topics: Employee Benefits, Wellness, Healthcare, Business Insurance, WellCompForLife

Additional options to control rising health care costs

Posted by the knowledge brokers

Collecting claims analytics reports and finding trends are the first steps to keeping your health care costs under control. But what comes next?:

  • Engage employees to participate in a wellness program by offering incentives.
  • Participate in a health risk assessment and receive a reduction in your monthly premiums.
  • Provide educational programs on general nutrition, healthy eating and stress management.
  • Work with Managers/Supervisors to increase their support and change the culture to motivate employees to participate.

R&R's stretigic method for controling health care costs is WellCompForLife. Wisconsin Businesses, for more information regarding R&R's WellCompForLife, contact Laura Stehno.

Topics: Employee Benefits, Wellness, Healthcare, Business Insurance, WellCompForLife

Control rising health care costs by evaluating claims analytics reports

Posted by the knowledge brokers

Evaluating claims analytics reports have become the solution for employers who are seeking ways to regain control of their rising health care costs. Rapidly rising health care costs have consumed company’s profits and loss statements. So employers should identify problem areas, implement wellness programs and make necessary plan changes.

What medical claims impact rising insurance costs? The most commonly seen medical claims fall into six major categories:

  • Asthma
  • Coronary heart disease
  • Depression
  • Diabetes
  • High blood pressure
  • Obesity

Wisconsin Businesses, for more information on ways to regain control of your rising health care costs; contact a R&R Knowlege Broker today.

Topics: Employee Benefits, Healthcare, Business Insurance

Health Care Reform Will Nearly Triple Premiums for Young Adults

Posted by Pete Frittitta

healthcare dollarsA recent survey of insurers estimates that pemiums will almost triple for a 27 year-old man in 2014 as a result of the federal health reform law. Those in the health insurance industry would like to see those restrictions loosened making insurance more affordable for younger adults.

The facts: it costs six times as much to insure a 64 year-old than an 18 year-old. Simply tripling the insurance cost for an 18 year-old to help subsidize older individuals will be unaffordable and thus they will elect to be uninsured (not helping subsidize for the older age pool).

The Patient Protection and Affordable Care Act (PPACA) regulates the health insurance market in three ways:

  1. All Americans must secure health coverage.
  2. Because everyone must carry coverage, the law requires insurers to sell policies to whomever wants to buy them. There is also "guaranteed issue" meaning insurance carriers cannot deny coverage because of health status or history.
  3. In an attempt to control the cost of coverage, there is "community rating": the law prevents insurers from charging older individuals more than three times what they charge younger individuals.

Providing a perspective from health insurance underwriters, Janet Trautwein, CEO of the National Association of Health Underwriters, has outlined the affects of health care reform: How to Help with Healthcare "Sticker Shock".

For questions on how PPACA affects the State of Wisconsin, please contact knowledgebroker & WAHU President Pete Frittitta.

Topics: Employee Benefits, Health Reform, Healthcare

Advantages to Employer-Provided Insurance Coverage

Posted by Pete Frittitta

health benefits fileWhen shopping for health insurance, businesses receive more advantages. Companies typically purchase insurance for an entire group thus giving more room for negotiating to keep costs down. This is a direct correlation as to why 63% of Americans were satisfied with coverage provided by their employer - it is affordable.

Today, the money an employer spends on health insurance is untaxed. So every dollar an employer spends, the employee receives a dollar's worth of benefits. However, individuals buying their own health insurance do not receive such tax breaks. They are paying for their own insurance AFTER taxes and NOT receiving a dollar's worth of benefits.

The Patient Protection and Affordable Care Act (PPACA) is starting to change the employer-paid coverage landscape. Providing a perspective from health insurance underwriters, Janet Trautwein, CEO of the National Association of Health Underwriters, has outlined the affects of health care reform: Preserving What Works: The Perks of Employer-Provided Coverage.

For questions on how PPACA affects the State of Wisconsin, please contact knowledgebroker & WAHU President Pete Frittitta.

Topics: Employee Benefits, Health Reform, Healthcare

Patient Safety Awareness Week – March 3-9, 2013

Posted by Maureen Joy

ladywithwalkerSafely caring for others is a full-time commitment. R&R Insurance Services always recognizes the expertise and commitment of our health care customers and their employees, especially during Patient Safety Awareness WeekMarch 3-9, 2013.

Here are some ways to promote patient safety in your organization:

Information on Health Care Workers and Patient Safety

For any help with understanding Patient Transfer Safety, or the implementation of proven wellness and work comp techniques, please contact me, Maureen Joy, OTR, knowledgebroker, Occupational Therapist and Health Care Specialist at R&R Insurance Services.

Topics: Safety, Wellness, Practice Management, Healthcare, Business Insurance

Health Care Practices Should Have Disaster Plan in Place

Posted by the knowledge brokers

Tornado_Flood_PoweroutageI found a great article about disaster planning for physician practices, and an even better comment at the bottom of the article I felt worth sharing. It's from Bear Rock Electric located in Maryland. They sum up some concerns that practice managers should think about in a nice, concise way. I am also including a link to the whole article from MDNews.com about power outages and it's affect on practice management: Small practices and clinics have to prepare, too. This really applies to all health care facilities - not just small physician practices. Assisted Living, Nursing homes, Urgent Care Centers, CBRF.

Here's the comment from Bear Rock Electric:

Bear Rock Electric services the Maryland community for emergency preparedness and power outages and we thank you for such an insightful article. Medical processionals do face very unique situations during storms and power outages and we couldn't agree more that a plan should be in place. Not only do they have the same problems as anyone else, but they also face the tremendous disruptions caused by hours or even days of long nuisance outages.

We ask them to think about the following questions:
•What if you're in the middle of an office procedure?
•What happens to the day's schedule and the rest of the week?
•What about your refrigerated supplies?
•Where will your patients go? Does the ER have your specialty or dental facilities?

Standby power solves all these problems and if they own their building, it also protects that building from a devastating mold infection that could render it uninhabitable or require expensive remediation. It only takes 72 hours for black mold to get started behind sheet rock.

Topics: Practice Management, Business Interruption, Healthcare, Business Insurance

27% of Physicians Say Pricing Should Have No Influence On Their Care Plan

Posted by Riley Enright

StethescopeInteresting poll results from a recent MD News.com physician poll.

Q: Would knowing the cost of a diagnostic test to the insurance company and the patient affect your opinion about the need for the test?

40 % Yes. I would try to select the least expensive testing available without compromising patient care.

33 % Maybe. I would at least weigh the pros and cons associated with more expensive diagnostic methods.

27 % No. Pricing has absolutely no place in the practice of medicine. My role is to diagnose patients regardless of costs.

Obviously, there is still a long journey ahead when it comes to physician networks, partnering with care givers that provide health care for your employee base, and educating the impact not only to employers and their employees - looks like there is more need for education on the provider side as well.

For any help with understanding health care consumerism, lowering health care costs through the implementation of proven wellness and work comp techniques, please contact me, Riley Enright, knowledgebroker and health benefits specialist at R&R Insurance Services.

 

Topics: Employee Benefits, Wellness, Health Reform, Healthcare, Business Insurance, WellCompForLife