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2022 Health Insurance Outlook, Changes

InterWest Insurance Services

As we enter 2022, there are a number of changes on the horizon that plan sponsors need to be aware of as they will affect group health plans as well as employees enrolled in those plans. Here’s a list of what to expect in 2022. For 2022, the affordability level will be 9.61% of their household income, down from 9.83% in 2021.

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Transparency Rules Deadline Approaching for Employers to Conform by July 1

Griffin Benefits

Other employers, especially those who are self-funded, are conforming to this rule by accessing and posting links on their websites, which are being provided by insurance carriers or third-party administrators (TPAs) who are hosting these rates and historical payments on their own websites.

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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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Time to Comply with Health Plan Transparency Rules

InterWest Insurance Services

The rules require that non-grandfathered insured and self-insured group health plans post machine-readable files on a public website no later than July 1, 2022. Should post the machine-readable files on your public-facing website if the insurance company has decided to delegate this responsibility to the employer.

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Most Employees Spend Little Time Choosing Their Health Plan

InterWest Insurance Services

In 2022, 32% were. Employee benefits online portal: 41% HDHP, 29% traditional plan Online research: 23% HDHP, 32% traditional plan. Another 39% reported being somewhat likely to select an HDHP if such care were covered pre-deductible. Despite these numbers, the percentage of workers enrolled in HDHPs has ebbed since 2020, when 34% of U.S.

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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

LEXIS 3292 (May 13, 2022). The appellate court added, however, that the trial court should also have required the carrier to pay its proportionate share of the non-attorney’s fee expenses associated with securing the malpractice settlement. Insurance Co. Appellate Court’s Opinion. 3d 650, 651 (Tex. 2019) (citing Tex.

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Employer Reporting on Prescription Drug Pricing Due By 12/27

Griffin Benefits

After this year, reporting will be due by June 1 for the prior calendar year (so reporting for 2022 will be due by June 1, 2023). Finally, short-term limited duration insurance (which is typically an individual market product) is also exempt. Excepted benefits (e.g.,