In this two-part series, we will examine a few of the top categories of claims payment errors. Missing these common errors means that self-insured employers are leaving possibly hundreds of thousands of dollars on the table every year.Rather than asking your employees to contribute more in terms of higher premiums or reducing their benefits, self-insured … Read more
What if you were sitting on a potential pile of cash at work, and you didn’t know you were about to lose it? (Ever heard of the two-year no-recovery trap?) Would you want to be caught flat-footed by your boss? According to an article in Forbes, “The Most Important Question a CEO Should Ask their … Read more
BenefitsPro reported in May that Americans’ healthcare costs rose again by 4.5 percent, bringing them to about $28,000 per family. According to 2018 Milliman Medical Index, employers are paying more (3.5 percent), but employees are paying a lot more (5.9 percent). This trend shows a shifting of the healthcare cost burden to employees. As self-insured … Read more
As we approach the end of 2017, what do you have planned to close the year out strong? Have you decided how you can best evaluate your medical spend of 2017? Have you considered ways to lower your costs in 2018? One unintended consequence of self-insuring is that claims payers have no financial incentive to … Read more
Each year, self-insured employers pour a great deal of time and energy into creating the best benefit plan for their employees. They carefully review and compare benefit packages, consider costs and expectations, enroll employees, and communicate changes. If you have been part of the process, you may feel like it is time to put it … Read more
Labor Day has come to symbolize the official end of summer, with family gatherings, final trips to the beach, and the wafting aroma of BBQ on the grill. It’s also a time to start thinking about fiscal planning for the next year. Labor Day began as a yearly, national tribute to the contributions workers had … Read more
Interviewer: Randy King is the president of Healthcare Horizons Consulting Group. Randy, what is Healthcare Horizons and why do organizations choose your firm to help them? Randy King: At Healthcare Horizons, we focus exclusively on providing healthcare claim audits for self-insured employers. Self-insured employers are directly at risk for their medical dollars. For example, when … Read more
Healthcare Horizons’ President Randy King offered Employee Benefit News his thoughts on how to control the out-of-control costs associated with air ambulances and planes. Four cost-saving suggestions are provided in the February article, including tips on how to negotiate better rates for emergency air travel support. Click here to read the full article on Employee … Read more
Some Fortune 500 companies – adept at tracking the costs and location of every product they make – are surprisingly lax when it comes to double-checking healthcare costs. See Employee Benefit News for the full article. Randy King is president of Healthcare Horizons Consulting Group, Inc. Healthcare Horizons has performed healthcare claims audits for over … Read more
Pace of U.S. Healthcare Spending Increased in 2015 http://www.wsj.com/articles/pace-of-u-s-health-spending-increased-in-2015-with-further-rise-expected-1468440002 Health insurance mega-deals aren’t winning over large employers http://www.modernhealthcare.com/article/20160601/NEWS/160609999