2021-22 Employer Compliance Playbook
Benefits compliance in 2021 has never been more challenging; the implications of the Affordable Care Act pale in comparison to 2021. Employers are required to know all of their obligations. We understand the intensity of compliance and have created a 2021-22 Compliance Playbook to help you. This playbook summarizes the vexing challenges Employers are facing and gives you practical, real world advice on how to understand these obligations.
Topics covered:
• Cafeteria plan & flexible spending account accommodations
• Change tax treatment of dependent care benefits (qualifying children)
• Outbreak period guidance (suspension of COBRA and HIPAA special deadlines)
• American Rescue Plan Act COBRA subsidies & their interplay the outbreak
• Mental health parity
• Healthcare plan cost reporting
• Prohibition on price and quality data gag clauses
• Healthcare plan online price comparison tool
• Healthcare plan “advance explanations of benefits”
• In-network, out-of-network and prescription drug costs
• Surprise billing requirements and protocols
• New ID cards
• New network accuracy requirements
• New “continuity of care” disclosures
• New broker/consultant/vendor compensation disclosure requirements
For more information on these topics and more, please contact me
Topics covered:
• Cafeteria plan & flexible spending account accommodations
• Change tax treatment of dependent care benefits (qualifying children)
• Outbreak period guidance (suspension of COBRA and HIPAA special deadlines)
• American Rescue Plan Act COBRA subsidies & their interplay the outbreak
• Mental health parity
• Healthcare plan cost reporting
• Prohibition on price and quality data gag clauses
• Healthcare plan online price comparison tool
• Healthcare plan “advance explanations of benefits”
• In-network, out-of-network and prescription drug costs
• Surprise billing requirements and protocols
• New ID cards
• New network accuracy requirements
• New “continuity of care” disclosures
• New broker/consultant/vendor compensation disclosure requirements
For more information on these topics and more, please contact me
Modern Tools to Better Manage Self-Funding
2021 Complex Claims Market Update
Clinical Team Overview
2020 Clinical Claim Case Studies
Impact of COVID-19 is expected to drive higher catastrophic claims in 2021 and 2022. Self-funded employers like {{company}} can use modern, cloud tools and services to enhance health care delivery, quality, patient satisfaction AND reduce costs.
"The overall experience has been nothing short of amazing, and once again I want to thank all involved for giving me a chance to be part of this program." Patient who received treatment at Mayo Clinic through Lockton coordination.
Lockton's clinical team uses a diverse set of skills to target the small subset of members that drive costs and collaborate with providers such as Mayo Clinic as well as local providers to better serve member and client plan needs.
In 2020, Lockton's Clinical team achieved savings on 307 cases with $56M+ in savings with a per case average savings of $181,678.
Vaccine Information
Employers have been asking Lockton for a vaccine communication resource. Here is a COVID-19 Vaccine Communication Resource an overview about vaccine safety, efficacy, how the vaccine works, and commonly asked questions to help navigate information available.
Employers can take many steps to prepare. The experts at Lockton Companies have put together an Employer Checklist for COVID-19 Vaccines of items and issues to consider as employers determine the best course of action for their workforce.
The Checklist Addresses:
Employers can take many steps to prepare. The experts at Lockton Companies have put together an Employer Checklist for COVID-19 Vaccines of items and issues to consider as employers determine the best course of action for their workforce.
The Checklist Addresses:
- Covering the cost of vaccine
- Developing a vaccine policy
- Developing a communication plan
- Navigating where your workforce can get a vaccine
Pharmacy Perspectives
In light of ever-increasing pharmaceutical costs and the growing use of specialty medications, understanding prescription-drug trends is in every company’s best interest. Like all components of the recent health reform legislation, the prescription-benefits industry is in a state of flux. Our Pharmacists not only evaluate the financial aspects of plan performance whether through a self-insured arrangement with an insurance carrier or an independent PBM: they have great perspectives on prescription drug trends. Their thoughts are contained in our Quarterly Newsletters.
First Quarter 2021
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2nd Quarter 2020 |
Turning Lockton into Our Virtual Best
The pandemic caught us all unaware and posed may immediate challenges. Ken Ralff and the whole Boston Benefits team has done a fabulous job supporting our clients and each other as well as leading in these new ways of work. Proud to be his colleague and friend. Check out the article describing how he and team did it here
Special shout out to Rob Mattson of ITM Speakers for his help in boosting our video conferencing experience.
Special shout out to Rob Mattson of ITM Speakers for his help in boosting our video conferencing experience.
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"Employers have significant pressure on their healthcare costs. While many look for new solutions, there are also considerable savings in their current spend,” says Rebecca Lich, PharmD, MBA Pharmacy Practice Leader in Lockton’s Denver office. “Twenty two cents of every healthcare dollar is used for prescription drugs. Employers must have best-in-class agreements in place, but we also need to ensure those agreements are met. Every employer should take a ‘trust but verify’ approach through a pricing reconciliation audit. There is money to be found."
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Benefits of a Multi-Generational Workforce
The health and medical needs of a working population vary based on any number of demographics. The workforce today is comprised of three major generations, each of which has a unique set of health risks and medical costs. As the needs of generations vary, so do the offerings that benefit them most.
A strong benefits package not only attracts and retains good employees, it keeps them healthy and can maximize productivity. The role of benefits for financial security and work-life balance also varies in significant ways from generation to generation.
This whitepaper is part two of a three-part series where Lockton experts share how companies can design risk management and employee benefits programs with their multi-generational workforce in mind.
According to the Bureau of Labor Statistics in June 2018, the U.S. unemployment rate fell to 3.8%. The U.S. economy hasn’t seen that level of employment since April 2000, and prior to that, 1969. Although unemployment increased slightly in July, economists report that there are more open positions in the United States than there are qualified workers to fill them. With a strong economy, the pressures on Human Resources to find and keep qualified talent while managing compensation, benefits and employee engagement are at an all-time high.