02 October 2017

Excess fat at waist & hips increase cancer rate

A 12 year study of 43,000 people concluded that excess fat around the waist and hips add a considerable risk for certain cancers. Four extra inches around the waist increased the risk for pancreatic and breast cancers to jump by +13% and an additional three inches around the hips increased the risk for bowel cancers by +15%. The increased risk appears to be caused by altered hormone levels leading to inflamation and thus the increase in risks. Heinz Freisling PhD Internatl. Agency for Research on Cancer

04 August 2017

Insurers Seek Rate Hike In ACA premiums

Across the country, insurance companies are filing requests asking for double digit rate increases for their ACA  plans. Surveys found that in a number of states the larger carriers are asking for as much as 30%  rate increases. This reflects the ongoing uncertainty surrounding the Affordable Care Act. The recent failure to repeal and replace coupled with Congressional inability to formulate a cohesive plan for the future fuels these rates hikes. Until there is a clearer picture look for these rate hikes to continue.

21 July 2017

Important Blue Cross Notice

Blue Cross is advising all groups with Blue Cross coverage that the IRS has found a number of people insured with Blue Cross have incorrect information on some of their identifying data such as Social Security numbers, dates of birth, addresses, etc. These people will shortly receive a postcard from Blue Cross requesting they either go online or call Blue Cross to correct their info. Failure to respond will result in a $50 fine from the IRS. Please advise all employees with coverage to neither ignore nor discard this postcard, but to respond by phone or online to the numbers contained on this card.

22 June 2017

Rate Increases

A recent Wall Street Journal article pointed out that almost half of the insurance carriers surveyed said they would be seeking rate increases of 20% or greater for plans sold under the Affordable Care Act. This reflects the growing concern for the viability of the ACA in light of increasing claims and slow pace of attracting healthy enrollees. Continued cost sharing from the Government is considered critical for the plans to have a chance for financial stability.

31 May 2017

Melanoma Danger

Recent research shows that nearly 20% of people who have had a previous melanoma, the deadliest form of skin cancer, have reported having a sunburn in the last year. Furthermore, only 62% said that they regularly wear sunblock, even though survivors have a ninefold risk for recurence. From: Rachel Issackson Vogel PhD, Minnesota Masonic Cancer Center, Minneapolis

25 January 2017

OBAMACARE NEWS FLASH

Just hours after being sworn into office, President Trump issued an Executive Order Minimizing the Economic Burden of the Patient Protection and Affordable Care Act Pending Repeal and Replace. This order does not yet repeal the ACA, only charges the agencies associated with the enforcement of it it to ease the burden during the transition towards repeal. As usual we will continue to monitor the situation and inform you as this transition moves forward.

 

08 December 2016

Dealing With Large Deductibles

A December 7th  Wall Street Journal article highlighted that American businesses and their employees are having to deal with skyrocketing deductibles in employee insurance benefit plans. With the allowable deductible reaching over $7,100 in 2017, the article points out the need for some type of relief for those people finding their medical expenses approaching these expensive heights. Such plans as gap or bridge plans are designed to help lower these costs. For more information on how we might assist you with such plans, please contact us so that we can help you with your employee benefit programs.

03 August 2016

New Small Group ACA Termination Policy Effective October 1

Effective October 1, Aetna must receive written confirmation of customer renewal acceptance in advance of the customer renewal date for all Aetna small groups.

This means that beginning with all October 1 renewal dates, Aetna must receive written confirmation in advance of the policy renewal date.  Written confirmation may include signed renewal acceptance from the customer delivered by mail, fax or email.  Note: premium payment received in advance of the renewal date will also be considered renewal acceptance.

If Aetna does not receive written acceptance of the renewal, or renewal alternates, from the customer in this time frame, they will initiate termination of the policy on the renewal date.

This change allows Aetna to provide new and renewing members with access to correct medical and pharmacy benefits in a timely manner. And  it helps to prevent paying claims incurred after the termination date.

22 June 2016

5500 Filing Reminder

Form 5500 filing season is around the corner.  It’s time to think about completing and filing Form 5500s.  Employers who had a Welfare Benefit Plan with 100 or more participants are required to file for the plan year.  The Deadline for Form 5500 is due on or before July 31, 2016.  Employers required to file a Form 5500 and fail to comply with its requirements are subject to enormous potential fines and other liabilities.  The Department of Labor (DOL) can impose fines as high as $1,000 per day for incompleted or deliquent filings.

11 May 2016

Long-Term Care Costs Continue to Increase – Orlando Sentinel, Weds, 5/11/2016

Long-term care grew more expensive again this year, with a private nursing home room edging closer to $100,000 annually, a new survey says.  Americans also are paying more for other care options such as home health aides and assisted living communities, while adult day care costs fell slightly compared to 2015,  Genworth Finanacial reported in a study released Tuesday.  Private nursing home rooms now come with a median annual bill of $92,378, an increase of 1.2 percent from last year and nearly 19 percent since 2011.  Genworth Financial sells long-term care coverage and didn’t address that cost in its study.

Associated Presss