Insights from Our Integrated ERM and Claims Settlement Solutions Practices
Obamacare Delay Due To Lack Of Final insurance Plan Agreements
The U.S. Department of Health and Human Services (HHS) notified insurance companies on Tuesday, August 27, 2013, that it would not sign final agreements with the plans between September 5th and 9th, as originally anticipated, but would wait until mid-September instead. Joanne Peters, a spokeswoman for HHS, said the department remains "on track to open" the marketplaces on time on October 1. The reason for the hold-up was unclear. Sources attributed it to technology problems involving the display of insurance products within the federal information technology system. With implications for all Casualty, Health and Disability insurance programs, read a full report witional links.
California Workers Compensation Institute Publishes Claim Study
On August 26, 2013, the California Workers Compensation Instate (CWCI) published their Workers Compensation Claim Cost Study. Some of the highlights of the report include: Average medical payments for California workers compensation claims increased over 60% between 2005 and 2011; Average medical payments for indemnity claims rose to $6,845 in 2011, up 60.2% from $4,273 in 2005; Average medical payments for all California workers compensation claims climbed to $2,543 in 2011, up 51.7% from $1,677 in 2005 and more. Read a full summary of the report with CWCI links.
The Kaiser Family Foundation and National Business Group on Health Publish Annual Benefits Surveys
The Kaiser Family Foundation and the Health Research & Educational Trust (HRET) published their annual survey of employer-sponsored health benefits. From January to May 2013, National Research completed full interviews with 2,067 firms. Additionally, the National Business Group on Health surveyed their members about healthcare plans for 2014. Read summaries of the surveys with other links.