Healthcare plans

Although concerned about challenges in the business environment, brokers and consultants are confident they will find a variety of ways to prosper, according to MetLife’s Broker and Consultant Study released last week.

One of the primary features of the Affordable Care Act is the establishment of state-based health insurance exchanges.

The U.S. IDI market saw a significant drop in premiums between 2008 and 2009, and while that drop continued between 2009 and 2010, it was far less severe, according to global consulting and actuarial firm Milliman Inc. Even with the premium drop, there is an underlying strength in claim experience and overall profitability, Milliman concludes in its annual IDI market survey.

Senator Mike Enzi (R-Wyo.), ranking member on the senate health, education, labor and pensions (HELP) committee, released a report Tuesday showing access to child-only health insurance plans has declined significantly since passage of the new health care law. Enzi says the Department of Health and Human Services has failed to take action to address problems created by the new regulations.

Despite a down economy, customers are willing to pay for more quality from their health insurance providers, according to a recent survey. In fact, close to 50% of those queried say they are willing to pay more for quality customer service.

Almost half of employers surveyed in July by Colonial Life & Accident Insurance Company say they plan to add voluntary benefits to their plans within the next year.

CHICAGO — There is a need for an “extreme makeover” in the house of benefits with a delivery system built on partnership, collaboration, accountability and engagement — rather than competitiveness, says Larry Boress of the Midwest Business Group on Health. Read more from Associate Editor Brian Kalish as he reports from Employee Benefit Adviser’s Workplace Benefits Mania Conference at the Fairmont Chicago Millennium Park.

Unum has partnered with United Concordia and will soon offer dental benefits.

It was about seven years ago that a client of Matt McQuide approached the vice president at Benefit Controls Companies with a serious, if not uncommon, problem. The 1,000-employee textile firm was experiencing unsustainable rate increases of at least 9% to 11% a year. "They looked at us and said, 'If this continues, we won't have a business,'" McQuide recalls.

Each year, benefits professionals around the country spend months determining the plan of action for the next year's health care. Numbers are crunched. Alternatives are explored. Numbers are crunched again. Finally, all of the information is compiled and presented to the executive team. While we don't think of it as presenting a business case, that is essentially what we do each year - and we can learn a lot from our peers in marketing, product development and finance about building an effective business case.

Hundreds of National Association of Health Underwriters members attending the organization's 81st annual convention June 26-29 were treated to a round of "Don't Stop Believing" by Journey as the convention kicked off in San Antonio - setting the stage for the positive outlook promoted by NAHU throughout the event.

Due to the economic recession and the potential for increased health insurance costs brought about by health care reform, many employers are beginning to view self-funded health care plans as a more attractive option than fully insured plans.

Rural Americans are more likely to suffer from chronic health conditions such as diabetes, heart problems and cancer, and face greater difficulty getting quality health care than their urban counterparts, according to a report released Wednesday.

The Centers for Medicare and Medicaid Services is nearly ready to issue a proposed rule requiring health insurers to develop standardized, consumer-friendly summaries of benefits and coverage under their health plan packages.

A new bill introduced in the Senate last week could help consumers keep their employer-sponsored flexible spending account funds at the end of the year.

Nationwide Better Health, part of Nationwide Mutual Insurance Company, will close its doors in September after five years in the wellness and productivity business.

Health insurer Aetna will double the size of its business of administering consumer health care accounts with a $202 million acquisition of PayFlex Holdings, which does business as PayFlex Systems.

While recent legislation has sparked debate about suitability versus fiduciary standards, a majority of investors do not understand the difference between the two, a survey by J.D. Power and Associates finds.

As major market changes loom, one report says health insurance providers that wish to access this giant pool of potential customers will need to shift toward a consumer-focused model.

U.S. deficit-reduction negotiators are looking at imposing new limits on existing tax breaks for employer-provided health insurance, a senior Democrat in the U.S. House of Representatives said Friday.