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Benefits Lead

    SELF-FUNDED HEALTH PLANS PUT EMPLOYER IN CONTROL

SELF-FUNDED HEALTH PLANS PUT EMPLOYER IN CONTROL

Stop-loss insurer Sun Life provides a wide range of backup services Healthcare costs continue their relentless climb. A recent report from PwC’s Health Research Institute forecasts 6.5% growth in overall U.S. medical costs in 2018, which it says would be the largest increase since 2015. The Center for Medicare and Medicaid Services projects that, by 2025, healthcare spending will reach 20% of GDP, but then who can really project all

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    GALLAGHER’S DATA-DRIVEN STRATEGY

GALLAGHER’S DATA-DRIVEN STRATEGY

Benefits Products & Services Benchmarking survey supports holistic consulting “Employers ask us all the time, ‘What else should we be thinking about?’” says William F. Ziebell, president of Gallagher Employee Benefits Consulting and Brokerage. That’s because employers have come to think of Gallagher as doing more than placing benefits business, he says. Gallagher’s holistic approach to benefits consulting includes advice on a wide range of operational and HR practices. “The

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    CRITICAL ILLNESS: NEW COVERAGE OPTIONS MEET EVOLVING NEEDS

CRITICAL ILLNESS: NEW COVERAGE OPTIONS MEET EVOLVING NEEDS

Sales of the product are rising, with opportunities for agents and brokers Everyone fears the big three: heart attack, stroke and cancer—and those serious medical conditions account for 70% to 90% of claims filed under critical illness insurance products, underwriters say. But critical illness insurance, sold primarily as a supplemental voluntary benefit, is evolving rapidly, covering more illnesses to fill the expanding gaps in employer-paid medical benefits. “Employee deductibles have

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    VOLUNTARY ACCIDENT INSURANCE

VOLUNTARY ACCIDENT INSURANCE

Product and tech enhancements bring employer and employee value High-deductible health plans help employers contain employee benefit costs. They also help motivate employees to be better consumers of healthcare. But when a medical emergency hits, the consumer-driven coverage can leave employees and their families with thousands of dollars in uncovered expenses. Concerned for the long-term financial well-being of their employees and interested in offering more flexible benefit choices, many employers

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    STOP LOSS: NEW OPTIONS FOR SMALLER EMPLOYERS

STOP LOSS: NEW OPTIONS FOR SMALLER EMPLOYERS

Stop-loss insurers help small to medium-sized companies self-fund their benefits A generation ago, large corporations realized that they could reduce their health benefits costs by paying their own medical claims—usually with the help of a third-party administrator or administrative services provided by experienced health insurers. Self-funding became one of the most common cost containment tools for companies with good cash flow and a consistent claims history. Stop-loss insurance, coverage for

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