Jacob Spencer

Is this an example of wage creep? Employers and insurers in Florida saw a 7% increase in total cost per workers’ compensation claim in 2022 and 2023, to just over $30,000 on average, due largely to higher wages and longer temporary disability benefits duration. That was the finding of an analysis by the Workers Compensation Research Institute, which compared COVID-19 pandemic-era costs in Florida and 16 other states. The work echoed other studies that have found that as employers rebounded from the pandemic shutdowns, they were forced to pay higher wages to attract workers. That led to higher payrolls and higher weekly benefits for injured employees. Check out the full article and findings here: https://lnkd.in/gSd8J6hz #StormReport #workerscompensation

3

We’re nearing the end of the spring semester of my “Benefits 301” class for interested CBIZ colleagues. Topic discussions this semester included GLP-1 plan design and clinical considerations, Non-Quantitative and Quantitative Treatment Limitation (NQTL / QTL) design and compliance navigation, Wrap Document 301, Negotiation strategies, Section 125 – the finer points, and this afternoon is Out-of-network reimbursement methodology best practices. If you’re interested in any of the course material, let me know, and I’ll share. If you’re a CBIZer and would like to sign up for an upcoming semester, feel free – but, full disclosure – there are homework assignments… A special thanks to all of our guest co-professors this semester. One of the most valuable aspects of CBIZ, as you likely know, is that we have a resident expert on just about any business topic imaginable. And, our culture seems to make everyone always eager to share what they have learned. Cheers. 

24

6 Comments

The results are in! The USI Benefits Benchmarking Study, the largest survey of its kind, evaluates plan effectiveness based on hundreds of data points. These include plan design, contributions, employer industry and size, location, demographics, and benefits usage. USI offers custom plan assessments and tailored solutions for your organization's needs. Join us for a webinar to delve into plan trends and regional insights: - Role of Benchmarking - Plan Evaluation from the Employee's and Plan Sponsor's Perspectives - Employee Well-being Hope to see you there! #usioneadvantage

14

Who: Ben Krambeck Where: West Des Moines, IA What: A 60 Minutes-style Interview Why: To share the powerful story of ClaimDOC We hope you enjoy this journalistic look at how ClaimDOC came to be. #rbp #referencebased #medicalpricing #medicalbilling #healthinsurance #insurance #claimdoc #selffunded

56

9 Comments

We just published the 2024 Milliman Medical Index (MMI), our annual analysis of the cost of healthcare for folks with employer-sponsored coverage. The MMI is the estimate of the overall annual cost of healthcare, including both the employee and employer (i.e., total cost of care). The 2024 MMI estimates that -- Individual healthcare costs at $7,151 -- Our hypothetical family of four costs $32,066, gross of Rx rebate dollars -- The family MMI is $30,486 net of Rx rebates -- The largest contributor to year-over-year changes are trends in pharmacy costs, specifically the the surge in GLP-1 utilization/cost We also have a handy calculator that uses real data to estimate your family healthcare costs, including the amount for premium, costs by service type, and the employer share. My family MMI is $27,058 for the four of us. Full report and calculator: https://bit.ly/4dQL4yw

98

2 Comments

Will you be attending #MedicareCON? Don't miss the chance to visit the CSG Actuarial, LLC booth and learn about the industry's top source for Medicare Supplement Quoting and Market Intel. Our team can help you stay informed about rate adjustments, loss ratios, and key players in your state. Looking to expand your business? We have the Medicare population and T65 data broken down by state and zip code. Stop by and say hello! #MedicareSupplement #Medicareadvantage #Marketdata #Medicareagent #Medicare #Medicaretraining

58

6 Comments

Employee Benefits Compliance Question Am I subject to Federal COBRA or Cal-COBRA? Employers subject to Federal COBRA Employers that have employed at least 20 employees on 50% or more of the typical working days in the preceding calendar year. Employers subject to Mini COBRA Employers that have employed fewer than 20 employees on 50% or more of the typical working days in the preceding calendar year. Mini COBRA in California – Employers subject to Cal-COBRA Employers headquartered in California with fewer than 20 employees on 50% or more of the typical working days in the preceding calendar year are subject to California’s ‘mini COBRA’ law, known as Cal-COBRA. Similar to federal COBRA, eligible participants can continue their coverage under Cal-COBRA, but the administration and application of the law differ. Not all states have mini-COBRA laws; Nevada is one example. Mini COBRA in Nevada – Nevada State Continuation When do I make this employer size calculation? This calculation is made annually on January 1st. Other Information The employer remains in the Federal COBRA or Cal-COBRA category for entire calendar year, regardless of increases/decreases in size throughout the year. Both full-time (FT) & part-time (PT) employees are counted. Each PT employee counts as a fraction of a FT employee. Divide all the PT employees’ hours by the number of hours an employee must work to be considered FT to make this determination. Be sure to notify your carrier if your status changes. It is important for employers to make an accurate calculation because the law sets a very different admin fee for Federal COBRA & Cal-COBRA. Federal COBRA: 2% monthly admin fee Cal-COBRA: 10% monthly admin fee #cobra #hr #employeebenefits #compliance #everydayhrpodcast

5

Did you know that over half of all eligible Medicare beneficiaries are now enrolled in Medicare Advantage, and between 2018 and 2022 total MA-EGWP enrollment increased by nearly 27%? As health care costs continue to climb, public sector purchasers increasingly turn to MA-EGWPs to maintain or enhance coverage while reducing immediate costs and long term liabilities. Read more https://lnkd.in/dibKkCgA from the National Policy Institute for Public Employee Health Care Policy's Report underscoring the significant role MA-EGWPs play in retiree benefits.

30

Do you want to know where the future of health care is headed? 🙋‍♀️ We surveyed 388 employers across industries and business sizes for the best insights on the state of health care. Access the full CBIZ report here! https://okt.to/5zPy0h #healthcare #healthcareinnovation #FutureOfHealthcare

1

Quoting the December 8, 2023, HHS announcement on Medicaid and CHIP renewals, several states are failing disproportionately in comparison to other states: Barriers to coverage, such as a failure to expand Medicaid, are leading children and youth to fall through the cracks. For example, the 10 states that have not expanded Medicaid – Alabama, Florida, Georgia, Kansas, Mississippi, South Carolina, Tennessee, Texas, Wisconsin, and Wyoming – have disenrolled more children than those that have expanded combined. In non-expansion states, youth who turned 19 while the continuous enrollment condition was in place are at risk of falling in the coverage gap and becoming uninsured; these youth on average account for 27.6% of disenrollments among children in non-expansion states since March 2023, compared to 12.1% of disenrollments in states that have expanded.

2

#HR pros expect benefits firms to provide services that help them maximize the return on their benefits investment. They do not want to be sold products. They do not want vendors paying their benefits firm. SHRM NABIP Validation Institute Health Compass Consulting

6

2 Comments

39 of 52. That's how many state markets Aetna was top 3 for AEP enrollment growth. This week's Medicare Market Insights deep dive takes a closer look at Aetna's big '24 AEP enrollment "win". I break down: -Aetna's Growth by Geography -Aetna's Dominance in certain markets -Aetna's Growth by Plan -Plan Comparison in a few Markets + we take a look at Agent sentiment for why Aetna did so well. Check it out here -> https://lnkd.in/g-znFREM ___ P.S. -> Don't forget to subscribe!

143

16 Comments

Exciting news! Lockton’s 6th annual National Benefits Survey executive summary is now available. As the labor market cools and healthcare costs continue to rise, employers are making cost reduction a top priority when making benefit decisions. According to the survey, reducing costs is virtually on par with attracting and retaining talent as a priority. However, the strategies employers are using tend to be more conservative. Don’t forget, a conjoint analysis can help employers optimize their spend by understanding how employees value their total rewards offering. Let's discuss further. #NationalBenefitsSurvey #EmployeeBenefits #CostReduction #TalentRetention Reach out also if you want to join us next week at our next HR Executive Council!

24

The IRS released the updated 2025 inflation adjustments for employee benefit plans. Marsh McLennan Agency's latest alert covers the changes to ACA plan design limits, HDHPs, HSAs, EBHRAs, and more. #ACA #Benefits #MarshMMA

1

Research shows, more view Health Savings Accounts as investment accounts than actually use them this way https://ow.ly/K0uQ50RqKxm Employee Benefit Research Institute #employeebenefits #HSA #HR #employer #healthcare #healthinsurance

1

HR and benefits professionals are in full swing planning for the 2025 plan year, negotiating final proposals from payers or benefits consultants, considering direct contracts with providers and determining employee plan designs. Employers and advisors recognize how critically important this time of year is and the fiduciary responsibilities C-level executives are tasked with (or task their consulting partners with) in fully evaluating several coverage options.  The Payer MRFs made available via the Transparency in Coverage Rule now make it possible for internal and external employer teams to perform these types of evaluations across a broader range of payers and networks, very quickly and at a fraction of the cost.  Want to see how?  Today's Transparency Tuesday provides a quick overview of how through the use of a small claim file (no PHI needed), Deerhold quickly performs these types of evaluations for our customers. https://lnkd.in/eMdtgUCm If you're going through this evaluation process now and want to ensure you're assessing coverage options fully, contact Pete Titas or Scott MacEwen to provide an overview of our Contract Rate Explorer product and evaluation process. #MRFInsights #PriceTransparency #PayerMRF

18