A Catastrophic Risk Pool for Every American!
By Gary R. Goodhile, CLU
Co-Founder and Principal, Sullivan Benefits | |
The recently passed National Health Care Reform Legislation mandates unlimited lifetime maximum benefits be included in all health benefit plans (insured, as well as self-funded programs). This change has created significant financial exposure for insurers (it will not have much of an impact on insured plans headquartered in MA; these plans for the most part are unlimited already). Of far more significant consequence is the impact that it could have on an employer that self-funds its health benefit plan. The vast majority of self-funded benefit plans include a lifetime maximum benefit ($1 million being the most common). These lifetime limits are included in self funded plans largely due to the fact that specific stop loss coverage with an unlimited lifetime maximum benefit does not exist. In short, this new law now requires employers to amend their plans to provide for benefits that the plan sponsor (typically the employer) cannot insure. This just does not sit right with me and I have spent a great deal of time thinking about it.
First, it is important to understand that ongoing million dollar plus claims are far more common today than they were even just a few short years ago!
Second, I am going to let you in on "an ugly little secret". Nobody wants to accept financial responsibility for the very few within our population (roughly one in every 100,000) that incur claims greater than $1 million dollars. This is a real "problem". Not our government, the insurance industry, providers or READ MORE. |
MA Small Group Health Insurance Premium Update
The Massachusetts Health Care Showdown...
By Chrystine M. Heier, CEBS, LIA
Co-Founder and Principal, Sullivan Benefits | |
Four years following enactment of Massachusetts Health Care Reform, state regulators and insurers are fighting over premium rate increases for individuals and small businesses (employers with 50 or less full-time employees) that were to have gone into effect on the 1st of April, May and June 2010. The culprit: SKYROCKETING HEALTH CARE COSTS!
On February 10, 2010, Governor Deval Patrick issued an emergency order requiring insurers to submit extensive actuarial information in support of their proposed individual and small group rate increases at least 30 days prior to their effective dates. On April 1, 2010, following a review of the submitted requests and supporting information, Division of Insurance Commissioner Joseph G. Murphy rejected 235 of the 274 rate filings citing excessive increases (8% - 32%) and rates unreasonable relative to the benefits provided. This historic ruling marks the first time the state has used READ MORE. |
Get the Most Out of Your Annual Physical Exam
Steps to having a better interaction with your doctor
By Nan Maley, R.N.
Corporate Wellness Director, Sullivan Benefits | |
Getting regular physical exams is a great start to living a healthy life. To get the most benefit from your visits, you must communicate clearly with your physician, understand the exam's results, and know what actions you and your healthcare team need to take.
Before going for your physical exam, it's advisable to make lists of current medical complaints and all your medications to share with your doctor. If the doctor is new to you, get your medical records in order and include your family medical history.
Here are steps to help you make the most of your physical exam:
- Be honest with your physician about all your lifestyle behaviors and symptoms. Don't just tell the READ MORE.
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Needham Heights Office:
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Phone: 781.449.8323 · Fax: 781.449.5419
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Phone: 508.471.9017 · Fax: 508.797.3689 |
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