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In December 2023, the National Association of Insurance Commissioners (NAIC) adopted a Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers. The model bulletin reminds insurancecarriers that they must comply with all applicable insurance laws and regulations (e.g.,
By confirming youre only covering eligible expenses, you maintain compliance with insurancecarrier eligibility requirements while minimizing litigation risks and reducing stop-loss exposure. The information in this blog post is for educational purposes only. Check out our benefits administration solutions here!
Maybe it’s a blog post about leadership, an update about the new Windows 10, or a law that’s going to impact your industry. For example, I follow my insurancecarrier. DAY 1 – Post one piece of business news that interests you. DAY 2 – Like a business brand page.
Dependent eligibility audits are essential for maintaining adherence to insurancecarrier requirements and minimizing potential litigation. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. It is not legal or tax advice.
Lately, we’ve seen an uptick in questions around the roles of responsibilities of your company’s broker, your TPA (that’s us), and your health insurance provider. And where does your health insurancecarrier play into this? What is a health insurancecarrier? –Check out this blog.
If we are not available and it’s an emergency, contact your insurancecarrier directly. The driver should follow the instructions on the form and fill it out thoroughly, including getting insurance information from a third party, if involved. Report all claims immediately to us, your broker.
Many group health insurance plan sponsors and administrators have the mistaken belief that the law allows employees enrolling in Section 125 cafeteria plans to change their elections, as long as they do so within 30 days of the plan becoming effective. This is not correct. And this misconception can have serious consequences.
Should post the machine-readable files on your public-facing website if the insurance company has decided to delegate this responsibility to the employer. Should post a link on your website to the insurancecarrier’s website if the insurance company plans to publish the machine-readable files on its site.
Employers sponsoring a group health plan will be responsible for paying health insurancecarriers for the premiums. See our blog on how Medicare and COBRA interact to learn more about this unique pair. Employers are responsible for paying premiums, but receive a tax credit. Individuals could elect to change coverage.
.” 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 insurancecarriers. These moves are trickling down into the primary insurance market in the form of further rate increases.
Increasing retirement plan-focused litigation has put insurancecarriers and fiduciary service providers in difficult positions. In this article published in PLANSPONSOR, McDermott Partner Erin Turley said such litigation continues to be a “major focus” in the fiduciary insurance marketplace.
The employer reports income information to the disability insurancecarrier. Portability is an important feature, because disability insurance can be difficult to qualify for on the individual market. Streamlined application process — no medical exam required. No prior year tax returns or income verification are required.
Insurancecarriers have been trying out new approaches to controlling costs, while improving health outcomes for their plan enrollees. That said, there’s been a trend towards so-called “high-performance,” narrow provider networks that aim to reduce costs while maintaining efficiencies and quality of care. Other cost-saving measures.
If you’re trying to decide if being full-time employee or freelancing is right for you, check out this post I wrote on Unum’s WorkWell blog with the six advantages to consider for each. An article in Forbes put the number of freelancers in the U.S. at 53 million and predicts that number will increase to about 50% of the workforce by 2020.
Report the errors to each provider, pharmacy and your insurancecarrier, with backup documentation that shows the incorrect information and an explanation of why it’s wrong — and ask that they remove the visits and services from your records. You may have to submit records requests and pay fees to get copies.
Here are the rules that will sunset at the end of 2021: Allowing employees who had declined group health insurance for the 2021 plan year to sign up for coverage.
NJ Transit’s workers’ compensation insurancecarrier notified Joseph of its legal right to recover all money paid on his workers’ compensation claim from the third-party potentially liable for his injuries. Joseph settled with his uninsured motorist (UM) insurancecarrier for $14,000 in the underlying action.
The issuepresented was whether employers and their insurancecarriers could be compelled to reimburse costs for medical marijuana in light of the Controlled Substances Act (CSA or Act), Pub. Preemption Issue The question presented is: “Whether the Controlled Substances Act, 21 U.S.C. 801 et seq., 91-513, Tit. II, 84 Stat.
The lawmakers also asked if the insurancecarriers would honor the ACA’s rules until all appeals are exhausted, including all the way to the U.S. Department of Health and Human Services has appealed the decision to the U.S. Supreme Court.
Submit carrier eligibility to insurancecarriers. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. Collect premium payments. Check out our COBRA page to learn more about the COBRA experience with WEX.
The issue is whether employers and their insurancecarriers could be compelled to reimburse costs for medical marijuana in light of the Controlled Substances Act (CSA or Act), Pub. Preemption Issue The question presented is: “Whether the Controlled Substances Act, 21 U.S.C. 801 et seq., 91-513, Tit. II, 84 Stat.
By confirming you’re only covering eligible expenses, you maintain compliance with insurancecarrier eligibility requirements while minimizing litigation risks and reducing stop-loss exposure. The information in this blog post is for educational purposes only. Check out our benefits administration solutions here!
The issue is whether employers and/or their insurancecarriers could be compelled to reimburse costs for medical marijuana in light of the Controlled Substances Act (CSA or Act), Pub. The question presented is: “Whether the Controlled Substances Act, 21 U.S.C. 801 et seq., 91-513, Tit. II, 84 Stat.
In addressing the public policy argument, the Court interpreted the insurance policy's language by the insurancecarrier, who asserted that it had no duty to defend under the employer's liability insurance policy with Hartford Underwriters Insurance Company.
Brokers should have established relationships with several different insurancecarriers and present multiple options to meet your goals and objectives. When it comes time to start looking at healthcare providers, your broker should be your trusted advisor and guide.
The legislation also permanently prohibits insurancecarriers from imposing geographic or technological restrictions on the provision of telehealth services, as long as the services being provided meet the same standard of care as if the services were delivered in person. Recommended Citation: Gelman, Jon L.,
Did you know that all you have to do to switch to a new benefits broker is submit a signed Broker of Record (BOR) form to each insurancecarriers you work with? The bottom line is, it’s time to make a change. Making the switch. The BOR simply states that you have officially entered into a partnership with a new broker.
Many of these services may be available through current insurancecarriers as value-add programs. Opportunities to participate in health and fitness challenges as a group and build camaraderie. Discounts or reimbursements on gym memberships and exercise programs.
If you are faced with the possibility that one of your properties is going to suddenly be vacant, you should take a look at your property insurance policy to see if it has a vacancy exclusion and if so, what it says. If the building will stay vacant or unoccupied, you should notify the insurancecarrier.
The NJ Supreme Court will now review whether the insurance policy's exclusion relieves an insurancecarrier of the duty to defend the employer against the employee's claims, which were characterized as intentional wrongs under the Laidlow standard.
With that in mind, you may want to disseminate information to them about how they can be reimbursed by their insurer for COVID-19 tests they purchase. Here’s what your employees need to know: Steps for reimbursement. This applies to any tests they purchased on or after Jan. 15, 2022.
For policymakers, this study suggests that there may be a need to reform the workers' compensation system to ensure that workers receive the benefits they are entitled to without insurancecarriers delaying and denying appropriate medical care.
Employers and insurancecarriers should actively encourage adopting and implementing new innovative testing and treatment avenues to limit their risk exposure. Innovation is Necessary to Meet the Challenge of COVID in 2022, Workers' Compensation Blog (Jan. Recommended Citation: Gelman, Jon L.,
A primary concern is the significant control employers and insurancecarriers exert over selecting medical providers. While the system aims to provide treatment for work-related injuries, bureaucratic obstacles and limitations frequently impede access.
Changes within the Department of Government Efficiency (DOGE) could have negative economic repercussions for states that rely on a loophole that allows workers' compensation insurancecarriers to benefit from Social Security Disability payments through reverse offsets.
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