Self-insurance

CASISF Alternative Security Program Frees $6.5 Billion in Working Capital for California Businesses

Retrieved on: 
Tuesday, July 7, 2020
Economy, Finance, Types of insurance, Social programs, Workers' compensation, Actuarial science, Insurance, Self-insurance

OAKLAND,Calif., July 7, 2020 /PRNewswire/ -- The California Self-Insurers' Security Fund's Board of Trustees has approved and implemented the 2020/21 Alternative Security Program (ASP), which frees $6.5 billion in working capital and provides California self-insured businesses greater financial flexibility.

Key Points: 
  • OAKLAND,Calif., July 7, 2020 /PRNewswire/ -- The California Self-Insurers' Security Fund's Board of Trustees has approved and implemented the 2020/21 Alternative Security Program (ASP), which frees $6.5 billion in working capital and provides California self-insured businesses greater financial flexibility.
  • "Self-insurance and the ASP provide a one-of-a-kind innovative program by the California Self-Insurers' Security Fund.It supports businesses by helping lower their workers' compensation costs and freeing up their working capital," said Board Chair & CEO Tim East.
  • "Workers' compensation represents a considerable expense for businesses, and this program benefits both the businesses and the larger California economy."
  • Moreover, there has been no increase in theSecurity Fund's general assessmentfromlast year.Thesecontinuingsavings make the program and costs even more competitive for California self-insured businesses.

Pharmacy Benefits Optimizer RxBenefits Appoints Kelly Chillingworth, RPh, as Northeast Business Development Director

Retrieved on: 
Tuesday, June 30, 2020
Economy, Money, Finance, Self insurance, Pharmacist, Pharmacy, Employee benefits, Insurance, Chillingworth, CGP, Self-insurance

BIRMINGHAM, Ala., June 30, 2020 /PRNewswire-PRWeb/ -- RxBenefits , the industry's first and only technology-enabled pharmacy benefits optimizer (PBO), has named Kelly Chillingworth, RPh, MHA-Ed, CGP, director of business development for the company's northeast region.

Key Points: 
  • BIRMINGHAM, Ala., June 30, 2020 /PRNewswire-PRWeb/ -- RxBenefits , the industry's first and only technology-enabled pharmacy benefits optimizer (PBO), has named Kelly Chillingworth, RPh, MHA-Ed, CGP, director of business development for the company's northeast region.
  • RxBenefits serves as a trusted pharmacy adviser to employee benefits consultants, enabling them to offer self-insured employers and their members a highly competitive, cost-effective pharmacy benefits solution, irrespective of company size.
  • Chillingworth will lead RxBenefits' northeast sales team in business development planning and activities.
  • "It is more critical now than ever for businesses to be able to provide best-in-class pharmacy benefits at affordable rates.

WatchTower Adds Medical Stop-Loss Coverage to Cloud-Based Distribution Platform

Retrieved on: 
Wednesday, April 22, 2020
Insurance, Economy, Finance, Types of insurance, Self insurance, Insurance industry, Stop-loss insurance, Self-insurance

CHICAGO, April 22, 2020 /PRNewswire-PRWeb/ --WatchTower, a cloud-based platform that simplifies the process of buying and selling employer-sponsored insurance, announced today it has started supporting distribution of medical stop-loss coverage.

Key Points: 
  • CHICAGO, April 22, 2020 /PRNewswire-PRWeb/ --WatchTower, a cloud-based platform that simplifies the process of buying and selling employer-sponsored insurance, announced today it has started supporting distribution of medical stop-loss coverage.
  • "Medical stop-loss coverage is an essential deliverable for brokers who serve mid-to-large employers.
  • By simplifying that analysis, the platform allows brokers to quickly provide employers with high-quality, cost-efficient benefits and data-informed advice.
  • WatchTower's platform solves several prevalent problems specific to transactions of medical stop-loss insurance, a product which protects self-insured companies against catastrophic employee healthcare claims.

New Option From Priority Health Helps Those Losing Employer Health Benefits Avoid a Gap in Coverage, Get Credit for Deductible Balance

Retrieved on: 
Tuesday, April 14, 2020
Infectious diseases, Health, Professional services, Insurance, Managed care, Health insurance, Employee benefits, 111th United States Congress, Self insurance, Healthcare reform in the United States, Internal Revenue Service, Health insurance in the United States, Money, Self-insurance

Priority Health has created a unique, affordable new option to help those who have lost their employer-based health benefits due to COVID-19.

Key Points: 
  • Priority Health has created a unique, affordable new option to help those who have lost their employer-based health benefits due to COVID-19.
  • Priority Health is the only health coverage carrier in Michigan who can offer this unique combination that provides gap-free, same day coverage.
  • Priority Health is also offering a deductible credit to all new individual members transitioning from an employer group plan.
  • At this time, more than ever, it is crucial that every person in this country has health insurance, said Joan Budden, President & CEO, Priority Health.

Captivated Health Continues Growth – Enters Florida Market

Retrieved on: 
Wednesday, March 25, 2020
Self insurance, Self-insurance

BOSTON, March 25, 2020 (GLOBE NEWSWIRE) -- Captivated Health is pleased to announce that it has established offices in Tampa, Florida and is now offering its proven healthcare financing solution to Florida Independent Private and Public Charter schools.

Key Points: 
  • BOSTON, March 25, 2020 (GLOBE NEWSWIRE) -- Captivated Health is pleased to announce that it has established offices in Tampa, Florida and is now offering its proven healthcare financing solution to Florida Independent Private and Public Charter schools.
  • Captivated Health helps schools control costs with insightful, actionable data and improves the member experience through a 24/7/365 concierge service passionately committed to making healthcare easier and more affordable.
  • Captivated Health Founder & CEO Mark Gaunya said, Health insurance is the 2nd largest expense in a schools budget and it grows 4-5 times faster than any other.
  • Captivated Health is a nationwide partially self-insured healthcare captive arrangement founded in New England in 2014.

Carrum Health Presses Pause on All Elective Procedures Effective Immediately

Retrieved on: 
Monday, March 16, 2020
Surgery, Self insurance, Elective surgery, Medical terminology, Self-insurance, Carrum, Victoria

Surgeon General by stopping all elective procedures to help slow the spread of COVID-19 and free up hospital resources.

Key Points: 
  • Surgeon General by stopping all elective procedures to help slow the spread of COVID-19 and free up hospital resources.
  • Surgeon General Jerome Adams tweeted to America: "Hospital & healthcare systems, PLEASE CONSIDER STOPPING ELECTIVE PROCEDURES until we can #FlattenTheCurve!"
  • "We all have a social responsibility to do what's bestfor public health and to take a stand for what's right," said Carrum Health Co-founder and CEO Sach Jain.
  • More than 100 self-insured employers, ranging in size from 2,000 employees and dependents to more than 180,000, currently use the Carrum Health platform.

PreferredOne Coverage for COVID-19 Testing

Retrieved on: 
Tuesday, March 10, 2020
Insurance, Infectious diseases, Hospitals, Finance, Professional services, Other Health, Family, General Health, Consumer, Health, Economy, Finance, Money, Self insurance, Insurance, Self-insurance, Deductible, High-deductible health plan, Health insurance

We are committed to help prevent the spread of COVID-19 by ensuring PreferredOne members have access to the testing and care they need during this public health crisis.

Key Points: 
  • We are committed to help prevent the spread of COVID-19 by ensuring PreferredOne members have access to the testing and care they need during this public health crisis.
  • In addition to regular member benefits, PreferredOne will cover medically necessary COVID-19 laboratory testing that is ordered by our network providers without member cost sharing for fully-insured employer group and individual plan members.
  • Members will not have any co-pay, co-insurance or deductible costs for testing.
  • * PreferredOne will work with our self-insured employer group customers to consider the same flexibility regarding their benefits.

Medica Waives All Cost Sharing for COVID-19 Testing

Retrieved on: 
Monday, March 9, 2020
Professional services, Health, Infectious diseases, Hospitals, Insurance, Other Health, General Health, Economy, Service industries, Finance, Insurance, Healthcare reform in the United States, Health Economics, Federal assistance in the United States, Medicare, Co-insurance, Deductible, Self-insurance

Medica today announced a coverage change related to the diagnostic testing for COVID-19 that follow guidelines issued through the U.S. Centers for Disease Control and state health departments.

Key Points: 
  • Medica today announced a coverage change related to the diagnostic testing for COVID-19 that follow guidelines issued through the U.S. Centers for Disease Control and state health departments.
  • Medica will waive co-pays, co-insurance and deductibles related to COVID-19 testing for all fully insured group, individual and Medicare members.
  • Self-insured employers will have an opportunity to also waive fees related to the testing of COVID-19.
  • This change applies to all members throughout the Medica service area and is effective immediately.

FullscopeRMS enhances employer stop-loss offering for health plan administrators

Retrieved on: 
Monday, March 9, 2020
Economy, Finance, Money, Insurance, Insurance industry, Health insurance, Annuity, Ullico, Self-insurance

FullscopeRMS is now offering its health insurance partners the option to distribute stop-loss coverage issued by its highly rated insurer, Independence Life and Annuity Company, which now has filed and approved stop-loss policies in several states.

Key Points: 
  • FullscopeRMS is now offering its health insurance partners the option to distribute stop-loss coverage issued by its highly rated insurer, Independence Life and Annuity Company, which now has filed and approved stop-loss policies in several states.
  • "This allows our partners to expand their health plan portfolios and grow their client base."
  • The employer stop-loss offering is supported by decades of experience in both the traditional and level-funded stop-loss businesses.
  • FullscopeRMS provides its clients including 25+ insurance carriers and health plans with the deepknowledge, expert talent and the specialized systems required to offer full disability, absence management, life, stop-loss, and supplemental health to employers.

AMPS Expands Leadership Team With Industry Experts In Healthcare Cost Containment

Retrieved on: 
Thursday, February 13, 2020
Economy, Service industries, Health Economics, Finance, Self insurance, Self-insurance, Health care prices in the United States, Insurance, Health insurance

ATLANTA, Feb. 13, 2020 /PRNewswire/ -- Advanced Medical Pricing Solutions (AMPS) , the pioneer in cost containment for the self-insurance industry, today announced the addition of six healthcare and health insurance industry veterans to its executive leadership team.

Key Points: 
  • ATLANTA, Feb. 13, 2020 /PRNewswire/ -- Advanced Medical Pricing Solutions (AMPS) , the pioneer in cost containment for the self-insurance industry, today announced the addition of six healthcare and health insurance industry veterans to its executive leadership team.
  • The addition of these new experts, who together bring decades of experience in bending the cost curve to control the skyrocketing cost of healthcare, will help AMPS greatly enhance its ability to serve the self-funded industry.
  • Advanced Medical Pricing Solutions (AMPS) provides market leading healthcare cost containment services for self-funded employers, public entities, brokers, TPAs, and reinsurers.
  • AMPS mission is to help clients attain their goals of reducing healthcare costs while keeping members satisfied with quality healthcare benefits.