Self-insurance

Introducing Scripta Insights, the Healthcare Tech Company Disrupting the $300B Pharmacy Benefits Industry

Retrieved on: 
Tuesday, January 21, 2020
Self insurance, Self-insurance, Health information technology, Pharmacy, Articles

Self-insured companies struggle to offer the level of benefits their employees need at a price they can afford.

Key Points: 
  • Self-insured companies struggle to offer the level of benefits their employees need at a price they can afford.
  • Meet Scripta Insights , a healthcare IT solution that's bringing transparency to the prescription drug market and finding 46% savings opportunities for payers.
  • Scripta Insights, a company founded by doctors, is using technology to create transparency, disrupt and improve the $300B self-funded pharmacy benefits marketplace.
  • Scripta is a healthcare IT solution that delivers immediate, real savings on pharmacy benefit costs for self-insured employers, payers and their members.

Unum Group declares quarterly dividend of $0.285 per share of its common stock

Retrieved on: 
Friday, January 17, 2020
Professional services, Insurance, Finance, Finance, Economy, Money, Unum, Colonial Life & Accident Insurance Company, Self insurance, UNM, Insurance, Self-insurance, Dividend

Effective January 17, 2020, the Unum Group (NYSE:UNM) Board of Directors declared a quarterly dividend of $0.285 per share on its common stock to be paid on February 21, 2020, to stockholders of record on January 31, 2020.

Key Points: 
  • Effective January 17, 2020, the Unum Group (NYSE:UNM) Board of Directors declared a quarterly dividend of $0.285 per share on its common stock to be paid on February 21, 2020, to stockholders of record on January 31, 2020.
  • Unum Group is a leading provider of financial protection benefits in the United States and the United Kingdom and the largest provider of disability income protection in the world.
  • Its businesses are Unum US, Colonial Life, Unum UK, and Unum Poland.
  • Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs.

Aspen Risk Management Group Acquired by TRISTAR Insurance Group

Retrieved on: 
Wednesday, January 15, 2020
Consulting, Other Professional Services, Professional services, Insurance, Economy, Finance, Money, Roaring Fork Valley, Insurance, Insurance industry, Risk pool, Risk management, Self-insurance, Aspen, Colorado, TRISTAR, Aspen Risk Management Group

TRISTAR Insurance Group, Inc. (TRISTAR), the largest privately owned, independent third party claims administrator in the United States, has agreed to acquire Aspen Risk Management Group (Aspen).

Key Points: 
  • TRISTAR Insurance Group, Inc. (TRISTAR), the largest privately owned, independent third party claims administrator in the United States, has agreed to acquire Aspen Risk Management Group (Aspen).
  • In addition to its risk control services, Aspen provides remote ergonomics, online service platforms, and specialty services for both commercial and government clients.
  • All Aspen employees will continue operating out of the existing locations under the name Aspen Risk Management Group, a TRISTAR Company.
  • Founded in 1987, TRISTAR provides excellent claims and risk management services to a variety of clients including self-insureds, insurance carriers, program underwriters, public entities and risk pools.

New White Paper Finds Greater Control and Financial Savings Make Self-Insurance Best Option for Workers' Compensation

Retrieved on: 
Tuesday, January 7, 2020
Economy, Service industries, Money, Self insurance, Healthcare reform in the United States, Insurance, Insurance industry, Self-insurance, Deductible, High-deductible health plan, Employee benefits

"The paper follows the December release of SISF's Bickmore Study Findings Letter that found self-insured employers save 14-28% over traditional insurance.

Key Points: 
  • "The paper follows the December release of SISF's Bickmore Study Findings Letter that found self-insured employers save 14-28% over traditional insurance.
  • This time SISF has turned to self-insurance expert Jon Wroten to examine the differences from an employer's perspective between self-insurance and high-deductible programs.
  • Wroten, past Chief of the Office of Self-Insurance Plans, lays out the business case for self-insurance versus high deductible policies.
  • Better control, cost savings, and financial benefits make self-insurance a superior solution over high-deductible or traditional workers' compensation policies," said SISF Board Chair and CEO Tim East.

Certificate in Employee Benefits Law Seminar (Las Vegas, NV, United States - October 5-9, 2020) - ResearchAndMarkets.com

Retrieved on: 
Wednesday, December 4, 2019
Professional services, Consulting, Employee benefits, Self-insurance

The "Certificate in Employee Benefits Law Seminar" conference has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Certificate in Employee Benefits Law Seminar" conference has been added to ResearchAndMarkets.com's offering.
  • The Certificate in Employee Benefits Law Seminar is a 4 day program that is designed to be the most comprehensive and practical seminar available in its field.
  • The seminar covers employee benefits issues that arise in the design and administration of employee benefit plans, the management of their assets, controversies between plan sponsors, trustees, participants and the numerous government agencies that regulate these plans.
  • The goal of this seminar is to improve the participant's ability to identify and limit risks to their organization in dealing with employee benefit plans and to provide "best practices" insights.

Bickmore Actuarial Study Finds Self-Insured Employers Save 14% - 28% Over Traditional Workers' Compensation Insurance

Retrieved on: 
Tuesday, December 3, 2019
Economy, Types of insurance, Finance, Labour law, Social programs, Workers' compensation, United States labor law, Insurance, Actuarial science, Self-insurance, Uninsured employer, Draft:Adam Friedlander

The study commissioned by SISF compares the overall cost of workers' compensation self-insurance with the cost of traditional workers' compensation insurance.

Key Points: 
  • The study commissioned by SISF compares the overall cost of workers' compensation self-insurance with the cost of traditional workers' compensation insurance.
  • The study examined workers' compensation costs for 14 California self-insured employers across a variety of industries and with different self-insured retentions.
  • Mark Priven, Vice President and Principal at Bickmore Actuarial, says his findings estimate the cost of self-insurance is 14% to 28% less than a traditional workers' compensation policy.Self-insured employers receive an average savings of 21%.
  • "The 14% - 28% savings is a tremendous opportunity for California employers who are currently in traditional workers' compensation insurance policies.

State of Maine Combats Rising Healthcare Costs with New Centers of Excellence Program from Carrum Health

Retrieved on: 
Tuesday, December 3, 2019
Self insurance, Carrum, Victoria, Self-insurance, Employee benefits

"We are pleased to partner with Carrum Health to bring additional value to the State and our health plan members," said Kurt Caswell, executive director, Employee Health & Benefits for the State of Maine.

Key Points: 
  • "We are pleased to partner with Carrum Health to bring additional value to the State and our health plan members," said Kurt Caswell, executive director, Employee Health & Benefits for the State of Maine.
  • "I couldn't be happier with the exceptional service, care and results I received through the Carrum Health program," said Stacey Thomas, Carrum Health patient.
  • "Carrum Health is excited to partner with the State of Maine to improve employee benefits while reducing the cost of care," said Sach Jain, CEO of Carrum Health.
  • Carrum's award-winning Centers of Excellence (COE) cloud platform connects self-insured employers with providers in regional COEs under payment arrangements to better manage healthcare costs.

Mutual of Omaha Offering a Private Plan Solution for Massachusetts Paid Family and Medical Leave

Retrieved on: 
Tuesday, November 19, 2019
Small business, Professional services, Insurance, Human resources, Articles, Economy, Leave, Contents, Self insurance, Self-insurance, Sick leave, Insurance, Omaha, Nebraska, Family and Medical Leave Act, Maternity leave in the United States

Mutual of Omaha Insurance Company is offering a private option for Massachusetts employers under the new Massachusetts Paid Family and Medical Leave law.

Key Points: 
  • Mutual of Omaha Insurance Company is offering a private option for Massachusetts employers under the new Massachusetts Paid Family and Medical Leave law.
  • Mutual of Omahas Paid Family and Medical Leave (PFML) plan is a private option for Massachusetts employers who would like to apply for an exemption from the state administered plan.
  • With the new Massachusetts law, employers must provide eligible employees with paid, job protected family and medical leave through the state-administered plan or through a private plan.
  • Mutual of Omaha is offering a fully-insured or self-insured paid family and medical leave plan or paid medical leave only plan.

Artemis Health Survey: Companies Struggle to Stay Ahead of the Curve in Benefits Design

Retrieved on: 
Tuesday, November 19, 2019
Professional services, Health, Insurance, Other Health, Human resources, Managed care, General Health, Self insurance, Health insurance, Self-insurance, Employee benefits, Social programs, Healthcare reform in the United States, Money, Finance

Just 18 percent of benefits leaders at companies nationwide believe their benefits programs are ahead of the curveand 19 percent fear their organization is falling behind industry standards in benefits design, an Artemis Health survey shows.

Key Points: 
  • Just 18 percent of benefits leaders at companies nationwide believe their benefits programs are ahead of the curveand 19 percent fear their organization is falling behind industry standards in benefits design, an Artemis Health survey shows.
  • Benefits leaders also rely on employee feedback (41 percent), industry best practices (37 percent), financial data (34 percent), and recruiting feedback (33 percent) to shape benefits design.
  • To design and deliver best-in-class healthcare programs, benefits leaders need to harness the power of technology-based healthcare analytics tools.
  • Artemis Health strives to help fix healthcare in America by making it easy for self-insured employers to use their own benefits data to offer better health benefits for fewer dollars for their employees.

NetClaim Report Shows Digital Transformation in Insurance Is Focused on Claims Intake

Retrieved on: 
Wednesday, November 6, 2019
Data management, Professional services, Technology, Insurance, Software, Economy, Insurance, Service industries, Insurance industry, Types of insurance, Institutional investors, Actuarial science, Third-party administrator, Self-insurance, Underwriting, Digital transformation, Vehicle insurance

NetClaim, a leading software and services solution for insurance claims intake, today announced the release of its 2019 Intake Innovation Report finding claims intake and management identified as the focus of digital transformation in 2020, more than underwriting and investing, or marketing and distribution.

Key Points: 
  • NetClaim, a leading software and services solution for insurance claims intake, today announced the release of its 2019 Intake Innovation Report finding claims intake and management identified as the focus of digital transformation in 2020, more than underwriting and investing, or marketing and distribution.
  • NetClaim conducted a survey of insurance carriers, third party administrators (TPAs) and self-insured business officers to determine how the immediate future of digital transformation in commercial insurance with be defined.
  • 42% respondents said that digital transformation will be focused most on claims intake and management in 2020, more than underwriting and investing (33%), or marketing and distribution (25%).
  • 62% respondents picked auto insurance as the top choice for the type of insurance most likely to see intense digital transformation first.