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Elevance Health, formerly Anthem, is showing positive signs in their core commercial insurance business. Let's break down the good news: - Renewal Rates Up: Elevance is renewing roughly 25% of their large group health plans this month, and they're happy with the results. - Retention on the Rise: "We're seeing persistency up a bit," indicating customers are sticking with Elevance. - Premiums on the Rise: Premium increases are helping to improve profit margins for the company. - New Business Strong: Sales to new large group clients are also performing well. - Employer Satisfaction: Existing clients are giving Elevance a bigger share of their benefit plan business. Learn more: https://hubs.ly/Q02HDgqR0

New data from the CDC shows a curious trend in health insurance coverage. While overall coverage is increasing, particularly among low- and moderate-income Americans, high earners seem to be losing coverage at an alarming rate. Here's the breakdown: - Employer-sponsored and private plans: These plans are covering more Americans, with coverage rising to 1.4% between Q4 2022 and Q4 2023. - The puzzling exception: High earners (over 400% of the federal poverty level) are seeing a decrease in private coverage - down to 89.9% from 90.8%. This translates to an increase in the uninsured rate for high-income individuals and families. - Possible culprit: The end of pandemic-related tax breaks and subsidies could be a contributing factor. Learn more: https://hubs.ly/Q02CJn-J0

States could potentially mandate dental benefits as part of essential health benefits packages for small-group and individual health insurance plans by 2027. This change would expand coverage for dental services, potentially eliminating annual spending caps for some services. The move would provide states more flexibility in designing their health insurance offerings, allowing more comprehensive dental coverage, which is currently optional in many plans. https://lnkd.in/gH6bfNfr #DentalCoverage #HealthInsurance #SmallGroupPlans #HealthcarePolicy #DentalBenefits

Voya wants to keep total ratio of insured losses to premiums for health-related insurance products, including stop-loss, between 77% and 80%. #innovation #management #creativity #future #futurism #motivation #personaldevelopment #sustainability #leadership #careers #insurance #insured #sales #business #rates #renewals #Q4 #fourthquarter #businessowner #advice #consulting #savings #cost #flexibility #ACA #reporting #reports #salary #mentalhealth

Insurance premiums, no matter what type of insurance, are a function of the cost of claims. This article explains the problem of dealing with these costs and the costs of prescriptions coming into the market.

New data suggests that employers offering self-funded health plans might have a significant advantage. A recent study found that these plans are more effective in controlling administrative costs compared to traditional insurance models. By managing their own health plans, employers are seeing a potential cost savings of nearly $18 per member per month. Learn more: https://hubs.ly/Q02J5lQ80

A potential turning point for the federal health insurance exchange? This year might see a significant shift for the federal marketplace for Affordable Care Act (ACA) health plans. With a surge in agent and broker registrations compared to previous years, the platform aims to become a more prominent player in employer-sponsored health benefits. Key Drivers: - Increased Agent and Broker Activity: Early registration numbers suggest a growing interest from agents and brokers in utilizing the federal exchange for their clients. This could significantly expand the platform's reach. - Focus on New HRAs: The federal exchange is promoting QSEHRAs (Qualified Small Employer Health Reimbursement Arrangements) and ICHRAs (Individual Coverage Health Reimbursement Arrangements) as options for employers. These programs allow businesses to provide employees with funds to purchase individual health plans on the insurance exchange.   - Potential for Growth in SHOP: While employers explore QSEHRAs and ICHRAs, the federal exchange's existing SHOP (Small Business Health Options Program) offers subsidized small-group health plans, which may also attract businesses. Learn more: https://hubs.ly/Q02K7zD50

"Cash for Coverage" Plans emerge for hard to place business segments. Read more. As an Employee Benefits Consultant with PrimeGroup Insurance, my primary focus is to position my clients, along with their employees, with valuable knowledge and education on ways to protect their greatest asset, their employees, and provide unique and creative ways to attract and retain talent. Please take a moment to read this 3 minute read on ICHRA (Individual Coverage Health Reimbursement Arrangement) plans or, "Cash for Coverage" plans. The Affordable Care Act rules are complex but do not have to be confusing. I offer continuous education, along with new technologies and superb services to my clients and get them back to what they are excellent at achieving. Running and growing their business. If you own a business that has been difficult to offer a group health insurance plan to your employees due to various reasons, give me, Ken Rose a call or connect with me here for a no obligation consult and allow me to help you navigate through solutions to this dilemma. PrimeGroup Insurance #notyouraverageinsuranceageny #ICHRA #Healthinsurance #employeebenefits #primegroupinsurance #yourbeardedbenefitsbroker

Consumers win as states crack down on hidden health care costs. #innovation #management #creativity #future #futurism #motivation #personaldevelopment #sustainability #leadership #careers #insurance #insured #sales #business #rates #renewals #Q4 #fourthquarter #businessowner #advice #consulting #savings #cost #flexibility #ACA #reporting #reports #salary #mentalhealth #win #consumer #health

Desert Living Now - NBC Palm Springs On today’s Desert Living, Matt Ungs, founder of Patient Fairness, introduces a platform designed to help patients lower or dispute unexpected medical bills. With nearly 30 years of experience in health insurance, Matt explains how users can upload bills, receive guidance, and resolve disputes—all through an easy-to-use online system. Host Brian Flath: So how can people get started with Patient Fairness today?   Matt Ungs: It’s really simple. Just go to patientfairnss.com…. Click on “Dispute a Medical Bill” or “Get Started” … and open an account. The customer will … tell us a little more about what is going on, and then we’ll give them …. what reasons we found … to dispute the medical bill, and they can decide whether they want to proceed with the case. If they do [proceed], we’ll produce a customized letter of dispute for them that we’ll mail on their behalf. That will get the dispute going, and then we’ll support them throughout the dispute. https://lnkd.in/gNqVK4Qv