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Category: Health Insurance

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New Over the Counter Rules Can Be Confusing

Effective January 1, 2011, employees must have a "prescription" to purchase over-the-counter medicines and drugs if they are to be categorized as "medical care" for purposes of the employer health plan and health savings accounts. Click here to read this concise summary from Alston & Bird and published in Employee Benefit News of the recently released IRS notice which provides clarifications around: What is a medication or drug? When is a medicine or drug considered prescribed?... Read More
Posted by Cristie Travis at Friday, October 1, 2010

Evidence Mounting: 2011 Will be a Messy Year for Both Employers & Employees

Survey results released over the past 2 weeks clearly indicate that employers of all sizes will be asking their employees to share in healthcare cost increases expected in 2011.For example: Large Employers: The National Business Group on Health 's survey of 72 large employers found employers expect an average trend increase of 8.9% in 2011. 63% will increase employee percentage contribution to premium cost, 46% will increase out-of-pocket max, and 44% will increase in-network... Read More
Posted by Cristie Travis at Tuesday, August 24, 2010

Health Care Reform Costs to Insurers May Exceed Forecasts

Compliance with the new medical loss ratios by health plans could cost health insurance companies much more than originally predicted according to a recent study conducted by Weiss Ratings. Margins for health insurance companies already complying with medical loss ratio and other health reform requirements in 2009 had margins (on average) of only 0.7% while companies not yet complying had margins (on average) of 6.3%. Complying companies actually had negative margins from premiums with... Read More
Posted by Cristie Travis at Friday, August 13, 2010

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