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Category: "Cost savings"

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12/21/15

  10:55:00 pm, by MedBen5   , 328 words,  
Categories: Announcements, News, Health Care Reform, Taxes, Cost savings, IRS

Cadillac Tax Delayed Until 2020

As was widely expected, on December 18 President Obama signed into law the Consolidated Appropriations Act of 2016 -- an omnibus spending and tax package that included in its amendments a two-year delay of the Affordable Care Act’s (ACA's) "Cadillac"… more »

12/17/15

  10:01:00 pm, by MedBen5   , 248 words,  
Categories: Wellness, Cost savings

Holiday Reminder: Wellness Compliance Knows No Season

As the year winds down, thoughts of personal wellness sometimes take a back seat to holiday parties and other seasonal indulgences. But wellness is important regardless of what the calendar says, and not only for health considerations... depending on… more »

12/15/15

  10:57:00 pm, by MedBen5   , 229 words,  
Categories: News, Prescription, Cost savings

Employers Take Measures to Reduce Specialty Drug Spending

Employer are increasingly looking to control pharmacy plan costs by limiting their responsibility for specialty drugs, finds a new Towers Watson survey. “Although pharmacy represents approximately 20% of employer-sponsored medical benefits costs, it is… more »

11/18/15

  11:04:00 pm, by MedBen5   , 404 words,  
Categories: News, Health Care Reform, Taxes, Cost savings

MedBen Offers In-depth ACA Reporting Guidance At Workshops

MedBen helped current and prospective clients gain a better understanding of how to comply with a critical health care reform mandate at two workshops on November 16 and 17. Mike Ankrum, Sr. Healthcare Reform Consultant for Five Points ICT. and… more »

11/12/15

  06:51:00 pm, by MedBen5   , 554 words,  
Categories: News, Cost savings

Investigation Of Improper ICD Use By Hospitals Results In $250 Million Settlement

Last month on this blog, we posted that the Department of Justice (DOJ) has been investigating the inappropriate placement of implantable cardiac devices (ICDs) in Medicare patients. The DOJ recently provided additional details about the results of its… more »

11/03/15

  10:47:00 pm, by MedBen5   , 209 words,  
Categories: News, Prescription, Cost savings

As Prescription Drug Use Grows, So Does Need To Control Costs

Pharmaceutical use shows no sign of slowing, with nearly 60% of Americans using prescription drugs in 2011, new research finds. According to Reuters Health, a multi-year study revealed that prescription drug users rose from 51% of U.S. adults in 1999… more »

10/26/15

  05:29:00 pm, by MedBen5   , 243 words,  
Categories: News, Health Plan Management, Cost savings

Initial ICD-10 Implementation Reports Find No Claim Processing Disruptions

In the months -- more precisely, years -- leading up to the October 1 implementation of the ICD-10 medical coding system, there was no small amount of concern as to whether the massive increase in codes would create claims inaccuracies and turnaround… more »

10/14/15

  08:08:00 pm, by MedBen5   , 308 words,  
Categories: Prescription, Cost savings

Pharmacy Costs Rising, But Smart Strategies Can Save Money

The rising price of prescription drugs is a frequently-covered topic in the media, but recent events have shown the spotlight that much brighter. Even so, comparatively little has been written about when patients can do to keep their medication costs in… more »

09/10/15

  11:08:00 pm, by MedBen5   , 303 words,  
Categories: Announcements, News, Prescription, Cost savings

Drug Costs On Pace For Major Increases In 2016

From BenefitsPro: “A survey of 60 leading health care vendors conducted by Aon, a major human resources consulting firm, shows that the cost of prescription drugs is on pace to increase by 10 percent in the next year, up from the estimated 6.3 increase… more »

08/28/15

  10:45:00 pm, by MedBen5   , 227 words,  
Categories: News, Health Plan Management, Cost savings

Employers Seeing Bigger Health Care Cost Increases, But MedBen Defies Trends

The state of health care costs in 2015, summed up in two new surveys (per Business Insurance): "Large employers are projecting health care costs before implementing plan design changes to increase an average of 6% in 2016, according to a National… more »

08/18/15

  05:19:00 pm, by MedBen5   , 335 words,  
Categories: Wellness, Health Plan Management, Cost savings

Despite Predictions, Employer-Sponsored Coverage Remains Strong -- And For Good Reason

"Reports Of The Death Of Employer Sponsored Health Insurance Are Greatly Exaggerated," reads the headline of a recent Forbes article. Blogger Todd Hixon cites a 2011 study that foretold a 30% drop in employer-sponsored health insurance (ESHI) would… more »

07/30/15

  06:25:00 pm, by MedBen5   , 277 words,  
Categories: News, Health Plan Management, Health Care Reform, Reporting, Cost savings

Health Care Spending Is Creeping Up; MedBen Can Help Employers Keep It Down

Health care spending rose 5.5% in 2014, according to a new report published on in the journal Health Affairs -- the first comparatively large increase following multiple years of more modest growth. Economists from the Centers for Medicare and Medicaid… more »

06/23/15

  10:48:00 pm, by MedBen5   , 281 words,  
Categories: Health Plan Management, Stop-loss, Cost savings

MedBen Captives Enable Smaller Employers To Take Advantage Of Reinsurance Opportunities

Midsize and smaller employers are increasingly making the switch to self-funded health care coverage due in part to greater reinsurance availability, says a leading stop-loss carrier... and at MedBen, we're helping these employers benefit from the… more »

06/19/15

  04:17:00 pm, by MedBen5   , 283 words,  
Categories: News, Health Plan Management, Consumer-driven Health Plans, Cost savings

FSA Carryover Rule Has Increased Participation, Employers Say

Since the IRS announced in 2013 that flexible spending account participants could carry over up to $500 of their unused funds to the following year, many employers have added the option to their FSA plan. (About half of MedBen clients that offer FSAs… more »

06/18/15

  04:00:00 pm, by MedBen5   , 250 words,  
Categories: News, Wellness, Cancer, Cost savings

Smoking Numbers Down, But Smoking-related Cancer Deaths Still High

Regardless of how much U.S. smoking rates have dropped in the last few years, one fact remains constant: Smokers still make up a disproportionate number of adults who die from cancer. According to Kaiser Health News, a study by the American Cancer… more »

06/16/15

  07:12:00 pm, by MedBen5   , 300 words,  
Categories: News, Prescription, Health Plan Management, Cost savings

Most Americans Say Drug Costs Too High, Drugmakers To Blame

Despite the fact that most people who take prescription drugs say can afford to purchase them, Americans overwhelmingly feel that the costs of such drugs are "unreasonable," a new poll finds. The survey by the Kaiser Family Foundation found that 74% of… more »

06/11/15

  04:06:00 pm, by MedBen5   , 379 words,  
Categories: News, Health Plan Management, Health Care Reform, Cost savings

Embedded Maximum Requirement May Necessitate Plan Changes

On May 26, the Departments of Health and Human Services, Labor and Treasury released a clarification as to whether or not self-funded health care plans are subject to a new Affordable Care Act regulation regarding family out-of-pocket costs. The short… more »

06/10/15

  05:27:00 pm, by MedBen5   , 222 words,  
Categories: Wellness, Health Plan Management, Cost savings

Research Doesn't Support Injections For Knee Pain

If you suffer from joint pain, it's understandable that you want a "quick fix" to the problem -- hence, the popularity of hyaluronic acid injections to soothe aching knees. But while some doctors and patients vouch for their effectiveness, there's… more »

05/15/15

  06:27:00 pm, by MedBen5   , 555 words,  
Categories: News, Wellness, Health Plan Management, Cost savings

MedBen Wellness Roundtable Offers Proven Success, Savings Strategies

MedBen University offered timely and practical worksite wellness advice at its First Annual Wellness Roundtable on May 14. Co-sponsored by MedBen and Sun Life Financial, the event explored wellness programs from multiple perspectives and provided a… more »

05/08/15

  03:58:00 pm, by MedBen5   , 211 words,  
Categories: News, Health Plan Management, Cost savings

"Considering" Self-funding? At MedBen, Employers Are Buying It

In a recent interview by Employee Benefit Advisor, a representative from a national employee business service company says that fully-insured employers with as few as 50 employees "are seriously considering self-funding." At MedBen, our experience is… more »

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