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Significant and Fast-Paced Market Changes Are Upon Us

Viewpoints from Craig Hasday This year brings significant changes to the health insurance marketplace. Amazon completed its acquisition of One Medical. The retail pharmacy capabilities gained via Amazon’s Pill Pack acquisition have bolstered Amazon’s mission to make it easier for people to find, choose, afford, and engage with virtual and traditional primary care services. In … Continued

https://www.epicbrokers.com/insights/significant-market-changes-follow/

Who Is Watching Health Insurance Disruption for You?

Viewpoints from Craig Hasday Change in the healthcare provider marketplace is rapid, and agility will be essential to manage the gyrations. This past week saw several significant announcements impacting healthcare. Elevance, the parent company of Anthem, announced the acquisition of the Blue Cross health insurance company in Louisiana, its 15th Blue Cross franchise acquisition. There … Continued

https://www.epicbrokers.com/insights/health-insurance-disruption/

Stay Close to Your Self-Insurance Advisor

Viewpoints from Craig Hasday In 2019, about 61% of workers with employer-sponsored insurance were enrolled in a self-insured or partially self-insured plan.* As healthcare costs rise, employers – guided by advisors like EPIC – seek cost savings by negotiating the components of health insurance premiums rather than leaving this to the opaque, and highly profitable, … Continued

https://www.epicbrokers.com/insights/stay-close-to-your-self-insurance-advisor/

Is the Mark Cuban Cost Plus Drug Company the Answer to Rising Drug Costs?

Mark Cuban, of Shark Tank and Dallas Mavericks ownership fame, is the most recent entry into the “squeeze-the-margin-out-of-pharmacy” game. In October he launched The Mark Cuban Cost Plus Drug Company (MCCPDC), a pharmacy benefit manager. This month the online pharmacy launched with a promise of only a 15% flat margin and pharmacist fee on 100 … Continued

https://www.epicbrokers.com/insights/mark-cuban-cost-plus-drug-company-rising-drug-costs/

Are You Ready for Healthcare Disruption? It’s Coming

Anthem, the nation’s largest health insurance carrier, warned of higher medical costs to come in their recent earnings forecast – due in part to more rapid than expected vaccine administration and bounceback of medical expenses as non-COVID 19 expenses are in greater demand. This sentiment was also shared by UnitedHealthcare in their earning report. There … Continued

https://www.epicbrokers.com/insights/are-you-ready-for-healthcare-disruption-its-coming/

Vaccine Costs Aren’t Likely to Break the Banks of Corporate Health Plan Sponsors

The New York Times (NYT) reported that 13 vaccines are currently in the final stages of testing. Phase 1 testing involves a small sample of people to test safety, dosage, and confirm that the immune system is stimulated by the drug. Phase 2 increases the sample to hundreds of people, testing further for safety/efficacy, and … Continued

https://www.epicbrokers.com/insights/vaccine-costs-arent-likely-to-break-the-banks-of-corporate-health-plan-sponsors/

Transparency Rule Released Just Prior to 2020 Election

Following through on President Trump’s objective of increasing transparency in healthcare, the Departments of Health and Human Services (HHS), Labor and Treasury released a final rule, Transparency in Coverage (CMS-9915-F). It mandates disclosure of pricing information beginning January 1, 2022 – and starting January 1, 2023, it requires most group health plans and health insurance … Continued

https://www.epicbrokers.com/insights/transparency-rule-released-just-prior-to-2020-election/

COVID-19 Makes 2021 Medical Cost Predictions Far More Challenging

Self-insured employers typically establish “premium equivalent rates” in the third quarter of the prior year. These are an estimation of claims based upon the most recent claim data available. While these rates are used to set healthcare cost budgets, the costs that hit an organization’s income statement are based upon actual claim costs paid during … Continued

https://www.epicbrokers.com/insights/covid-19-makes-2021-medical-cost-predictions-far-more-challenging/