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“Our Take” is Corporate Synergies commentary on employee benefits and insurance topics that are in the news. Since CVS announced its plans to buy insurancecarrier Aetna in December 2017, many experts, including ours , speculated how the acquisition and other similar ones would change healthcare. But let’s not be naive.
Patient financial responsibility is on the rise—average out-of-pocket costs rose 11% in 2017 alone. Employers can help make the process a little easier with the right communication tools. But increasingly, doctors offer additional genetic screening and diagnostic tests that may not be covered under insurance.
What is a Professional Employer Organization (PEO)? According to the National Association of Professional Employer Organizations ( NAPEO ), “A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. We’ve been a PEO since 1991, and an IRS Certified PEO since 2017. (We
Like almost every other industry, professional employer organizations (PEOs) have been forced by the global pandemic to ask themselves this question. Get an in-depth look at professional employer organizations and why you should consider partnering with one. “What is our industry’s new normal?” Click To Tweet. million to 3.7
Here’s why… Insurance industry consolidation is occurring at an unprecedented rate. Merger and acquisition activity in the brokerage and consulting space was at a feverish pitch in 2017 and through the first part of 2018, fueled in large part by the private equity industry’s continued love affair with the insurance distribution sector.
When it comes to commercial vehicle insurance, it’s a rocky road. Many companies felt the shock of rising insurance rates in 2015, 2016 and 2017. Insurancecarriers look at their profit margins each year and must maintain required ratios so that future claims can be paid and the company can remain profitable.
Adopting an urgent care first mentality can help employees and employers control healthcare costs. But these centers could also help employers minimize expensive emergency room (ER) claims. 1 In fact, from 2014 through June of 2017, the number of urgent care centers rose by nearly 20%. As Seen In. over the last decade.
Many of the provisions in this sweeping legislation bring changes to the employee benefits world of which employers should take note and which are summarized below. The ARPA also allows the employer, insurer, or multiemployer plan sponsor who subsided the premiums to offset the cost by claiming a new federal tax credit.
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