Ushur’s Post

Foundry’s CIO has named Aflac a 2024 CIO 100 award winner for the 3rd year in a row. For more than 25 years, the CIO 100 Awards have recognized innovative organizations around the world that exemplify the highest level of strategic and operational excellence in IT. Our commitment to leveraging technology to drive value for our agents, brokers, employees, and customers has been recognized once again. At Aflac, we don't just sell a product, we sell a promise. We promise to be there for our customers in their time of need. It's this promise that has made us the No.1 provider of supplemental health insurance products in the U.S. and helps us make a difference in the lives of our customers every day. To better fulfill our promise, we've focused on Claims Automation and Digital Processing of Life Events through our MyAflac system. By enhancing Claims Automation and delivering digital capabilities for policyholders, we've significantly improved the policyholder experience while also driving down the unit cost per claim. At Aflac, we're committed to using Digital Solutions to make it easier to service our customers, our agents to sell, and our employees to work. Our goal is to ensure that we always fulfill our promise to be there for our customers in their time of need. #cio100 #aflac #innovation #teamwork https://lnkd.in/gSCEivvP

Demystifying Stop-Loss Insurance and Claims Funding in Level Funded Plans As a health insurance broker, understanding the mechanics of level funded plans is crucial. Two key components that raise questions are stop-loss insurance and claims funding. Let's break it down: 1. Claims Funding: This is the portion of the monthly payment that goes towards covering expected healthcare costs. It's calculated based on the group's historical claims data and demographic information. Think of it as a self-funded pool for routine claims. 2. Stop-Loss Insurance: This is the safety net. It protects your client from unexpectedly high claims that could otherwise be financially devastating. There are two types: - Specific Stop-Loss: Covers excessive claims for any individual - Aggregate Stop-Loss: Protects against unexpectedly high claims for the entire group Here's how they work together: Your client pays a set monthly amount. Part of this goes to claims funding, part to stop-loss premiums, and part to administration. If claims are lower than the funded amount, your client may receive a refund. If they're higher, stop-loss kicks in to cover the excess. This structure allows for the potential savings of self-funding with the security of insurance backing. It's a powerful tool in your arsenal, allowing you to offer clients both cost-saving potential and peace of mind. Want to dive deeper? Comment "Send It" for a link to join our webinar on mastering level funded plans. We'll explore real-world scenarios and best practices for implementation. #NavigationHealth #LevelFunded #StopLossInsurance

Underwriting —> Accuracy Accuracy —> Sustainability There is a reason why life insurance companies have been around for over a hundred years and can provide efficient rates. There are also reasons why the group health insurance industry has a lot of challenges. One thing most people would agree with is that the current trend for group health insurance is not sustainable. It’s not sustainable for small businesses. And it’s not sustainable for their employees. While a PEO may not solve for every problem within the group health insurance industry, it does help to address pricing accuracy and sustainability because of the underwriting process that is involved. 📌 Wondering what a PEO is? It's the best kept secret in the group health insurance industry. I've linked to a video with additional details in the comments section. #peo #CFO #grouphealthinsurance

Putting lipstick on a pig? While a PEO provides economies of scale and buying power for group health insurance, it doesn’t always solve for a group with a bad risk profile. You can put lipstick on a pig, but at the end of the day, it’s still a pig. The real value proposition of a PEO is having access to proper underwriting. Underwriting -> Accuracy -> Efficiency ✅ The groups that can benefit the most from a PEO group health plan are usually the groups that don’t think they need a PEO plan. 📌 I’ve included a link in the comments section below 👇 to another video that discusses what’s involved with a PEO underwriting process. 📌 Is your low group health insurance renewal a sign that you’re leaving money on the table? Video below 👇. #PEO #CFO #grouphealthinsurance

Calling all #payers! This article references that a survey found that health insurance is behind property and casualty coverage when it comes to customers' satisfaction with their platforms. Commercial plans earned an average score of 646 on a 1,000 point scale for satisfaction, and MA plans earned a 629. Let our team help you in creating an intuitive, customer-friendly experience for your members!

Healthcare brokers--you often hear and commiserate about how healthcare is broken. Here is a chance to fix it. You have an opportunity to help your clients know where the best care is at in your city. Our new nurse-feedback studies interview frontline nurses to find the hospitals, departments and physicians they trust the most. See Kansas City: https://lnkd.in/g-AdFMeN. We want to make these studies available to everyone in every city. We invite every large insurance broker to bring a study to a US city. The best part--it is at no cost to you as a brokerage. How? Let us help your self funded clients stop bad hospital bills (claims integrity). We can save your clients 30-40% on large hospital bills (over 10K) by catching waste, fraud and abuse. No upfront costs, no impact on members. We will use our portion of the shared savings to complete these critical studies, allowing front-line caregivers to speak out about the care they see around them. We have had some amazing and horrible interactions with brokers over the past several months. We are expecting soon to be able to announce some partnerships in communities to improve care. We are so grateful for the brokerages that are moving forward to create transparency for care in their communities! So we invite the following brokers to lead, at no cost, a single US city study. Beyond just helping healthcare, you will have distribution rights for this study and it can be a huge competitive advantage! Marsh McLennan, Aon, Gallagher, WTW, Brown & Brown Insurance, Acrisure, Alliant Insurance Services, HUB International, USI Insurance Services, AssuredPartners, Lockton, NFP, BroadStreet Partners, KRA/RSC Insurance Brokerage, Inc., Alera Group, Inc., EPIC Insurance Brokers & Consultants, Higgenbotham Consulting Firm, IMA Financial Group, Inc., CBIZ, Holmes Murphy, Insurance Office of America, The Mahoney Group We will be reaching out to the leadership of each of these brokerages, but please forward this post onto them (which is why we called them out here). This is your formal invitation to take a powerful step to fix the healthcare system that you sell. #employeebenefits #fixinghealthcare #healthcaretransparency

The life insurance industry is evolving, and the adoption of electronic health records (EHRs) is crucial for its future. According to LexisNexis Risk Solutions' latest whitepaper, a hybrid strategy for obtaining health records is the fastest and most viable path to broader EHR adoption. Want to learn more about the industry's future and the importance of EHR adoption? Check out the whitepaper now. https://lnkd.in/eEwvmb_9 #EHR #LifeInsurance #ConsumerMediated #MedicalUnderwriting #LifeUnderwriting Daniel Parow Jena Kennedy, FLMI, ALHC, ACS, CLU Debbie Smith Scott Rhinehart Kristen Dent Eleanor Brooks Allison Hunt Adam Pichon LexisNexis Risk Solutions

Insightful article about medical stop-loss captive insurance solutions. If you would like to learn more about a captive medical stop-loss model that aligns with a faith based values, please reach out to me. #covenantchoice #captiveinsurance #faithbasedmedicalstoploss

We work on building relationships with all of our insurance clients so that we can truly educate them on scams that are happening regarding health insurance. Free money always sounds amazing, but when tax implications are involved, it's not very fun anymore. When in doubt, always call your broker before clicking on anything or providing your information over the phone. Remember....if it's too good to be true, it probably is. ;-) #healthinsurance #ACAmarketplace #subsidyeducation https://lnkd.in/d9WVmvdj

When it comes to captive health insurance, it's easy to get caught up in assumptions and outdated notions. However, the reality is that captives have evolved to become a viable and beneficial option for businesses of various sizes and industries. By letting go of misconceptions, you open the door to a world of possibilities for your company's risk management and employee benefits strategies. Take the first step toward exploring captives by connecting with our knowledgeable team on LinkedIn. We're here to dispel any myths, answer your questions, and help you determine if a captive solution is right for your organization. #captiveinsurance #riskmanagement #employeebenefits #businessstrategy