When we think of healthcare in the United States, we typically think of employer-sponsored health insurance plans. This is because roughly 54% of all Americans receive healthcare via private insurance through their employers, according to Statista. Although this level of access and overall performance places U.S. healthcare well behind most other high-income nations, it’s what […]
In 2021, most Americans received healthcare benefits from their employers, as they’ve done for the last three decades. According to Statista, over half of the United States population—54.3%—has relied on employer-based insurance plans since 1987. Traditionally, employers contract with insurance companies to provide healthcare for employees via different plan options. To cover healthcare costs, employers […]
The majority of employers in the United States offer health insurance as an employee benefit for a variety of reasons. It helps businesses attract new talent, retain current employees, and keeps employees healthy so that they remain happy and productive. For decades, the most common method of providing healthcare benefits for employees has been via contracts with […]
Countless technological advances have enhanced our individual quality of life, enriched human society, and strengthened its foundational systems. The elevated level of care providers can offer their patients parallels this ongoing evolution in technology. From the smallpox vaccine to penicillin, to stem cell guns that grow new skin for severe burns, various technological innovations have furthered human medical capabilities beyond […]
It’s not just you: everything is getting more expensive. And that includes healthcare. When you consider the astronomical amounts of money the United States spends for healthcare, you’d expect to see more accessibility to top-of-the-line facilities and cutting-edge services. And yet, despite the trillions of dollars spent annually on U.S. healthcare and healthcare-related services, the prices continue […]
You’ve probably overheard employees or employers complaining about out-of-pocket healthcare costs and how these expenses keep growing. It seems such grievances are well-founded, as medical costs in 2022 rose by 4.4% per employee, and are expected to rise another 5.6% in 2023, according to global professional services firm AON. That means the average employer can expect to spend about […]
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Brokers and TPAs Need to be Aware: The December 31, 2024 Gag Clause Attestation Submission Deadline Nears
Cost ContainmentBrokers and TPAs may have the obligation to complete the Gag Clause Prohibition Compliance Attestation Submission (“Attestation”) on behalf of their self-funded group health plan clients, pursuant to an agreement with their clients. Although plans are responsible for filing the Attestation, TPAs and brokers may file on behalf of their clients. What is a Gag […]