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Costlier Reinsurance Is Feeding into Higher Commercial Policy Rates

InterWest Insurance Services

.” These global reinsurance giants have seen their profits erode substantially in the last few years due to the rising cost of natural catastrophes around the world, forcing them to increase what they charge insurance carriers. These moves are trickling down into the primary insurance market in the form of further rate increases.

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Texas Court Stresses Comp Carrier is Entitled to Full “First Money” in Worker’s Third-Party Tort Settlement

The Workcomp Writer

For example, a letter sent January 22, 2018 indicated that Texas Mutual had paid $318,551.33 Stevenson settled his medical negligence case on January 25, 2018, for $270,000. On February 1, 2018, Texas Mutual sent another letter to Stevenson’s counsel indicating that as of that date, it had paid a total of $318,551.33

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PA Employer’s Right to Subrogation is “Absolute”

The Workcomp Writer

In June 2018, a WCJ approved a compromise and release (C&R) agreement between Claimant and his employer, under which Claimant received a lump sum payment of $80,000 in exchange for waiving any future right to specific loss benefits for disfigurement under Section 306(c)(22) of the Act. Background. Claimant’s Proposed Distribution.

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Pharmacy Benefit Costs Untenable? Choosing the Right PBM

Corporate Synergies

There are typically three ways employers work with PBMs: A PBM bundled with the insurance carrier. A “third party carve-out,” in other words, a PBM that is separate from the insurance carrier. PBM Bundled with Carrier. © 2018 Corporate Synergies Group, LLC. Download PDF Subscribe to the Knowledge Center.

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Creating the “Urgent Care First” Mindset for Employee Benefits

Corporate Synergies

From 2009 to 2016 (the most recent data available), the average amount that hospitals billed insurance carriers for an emergency room visit more than doubled, from $600 to $1,322. 2 Urgent Care Association , “Urgent Care Industry Whitepaper 2018: The Essential Role of the Urgent Care Center in Population Health”.

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Understanding the cost of employee benefits & what it means for your company

Genesis HR Solutions

per hour worked in March 2018. Deductions must be set up in payroll and carrier invoices must be paid each month. Sometimes changes made online don’t get through to the payroll processor or insurance carrier in time, so the employee or their dependents aren’t added to coverage until next month.

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AMERICAN RESCUE PLAN ACT CONTAINS MANY EMPLOYEE BENEFITS RELATED PROVISIONS

Benefits Notes

While employers (for self-insured plans and multi-employer plans) or insurance carriers (for fully insured plans) are responsible for the COBRA subsidy, the paying entity is entitled to take a federal tax credit against payroll taxes. Tax Credit.