Scott Dillabaugh

This is something that cou;d mean some significant effect in the market all over the country, however the reinsurance progream in the state of Minnespta also puts another wrinkle in this! Stay tuned! #thinkingdifferently #cfoinsights #ceoinsights #hr #hrbenefits #employee experience #ESOPCG

3

Very much of a changing landscape for GLP-1 insurance coverage for obesity. Employers need to have a completely separate carved out wholistic program addressing mental health, nutrition, exercise, with medications used as a tool when members get stuck in their health journey with their disease of obesity. #GLP1 #obesitycoverage #wegovy #zepbound #healthinsurance #employeebenefits #PBMs #weightlossmeds #burnhambenefits #theBaldwinGroup

37

3 Comments

Thanks Ron for promoting Atidot in this interview. This is a great read about using #AI and #GenAI to improve #LifeInsurance. Sherry, JobsOhio, Insurance Thought Leadership

3

From Star Trek to streamlining our agency—AI can be your secret weapon! 🚀 My dad, Brian Bartosh's journey with technology began at a young age. He convinced my Grandpa in the early 80's that Top O'​ Michigan Insurance Solutions - TOMIA247 could use automation as a way to support the efforts of the agency. "Even before PCs became ubiquitous, he recognized that there were functions that a computer could perform better and faster than a human, allowing staff members at the agency to spend more time on providing better service to clients." - The Rough Notes Company, Inc. So when I showed him the power of some new AI tools, he dove right in. This was reminiscent of scenes from Star Trek for him. It has transformed how we communicate, automate, and free up time of our team to interact directly with clients, allowing for a better client experience. Curious how AI could reshape your business too? Check out his insights below. 👇 #AIRevolution #InsurTech #AgencyInnovation #Insurance #IndependentAgency #AI

7

1 Comment

There is a wide range of viewpoints regarding whether or not group health plans should cover weight loss drugs. We received an article from one of our online information resources titled “The old-fashioned weight loss method being embraced by insurers.” The article got my attention because a number of groups have inquired about whether or not to cover weight loss drugs.   In reading the article, however, the ‘old-fashioned’ weight loss method referred to was bariatric surgeries. This really surprised me because my view of the ‘old-fashioned’ weight loss method is diet and exercise. There are unintended consequences in cases where either weight loss drugs or bariatric surgeries are involved. In previous years, we had groups whereby bariatric surgeries were performed and ensuing complications ran up in six figure bills beyond the cost of the surgery alone.   More recently, we have a couple of groups who actually have participants using weight loss drugs. Some have told us that some of these participants have experienced difficult side effects from these drugs. Therefore, it still leads me to believe that the tried and true ‘old-fashioned’ weight loss method is still diet and exercise. That is just my opinion, but whenever tried as a lifestyle direction change, it seems to have worked with few if any detrimental side effects for a lot less money.   What do you think?

3

🚨 Breaking News: After years of legal battles, the 2018 rule expanding Association Health Plans (AHPs) has been rescinded. The new standards, reinstated as of April 30, 2024, prioritize compliance with ERISA regulations. #healthcare #employeebenefits #HealthPlans

1

What drives property and casualty insurance market conditions? These researchers predict market softening, citing "herd mentality" rather than commonly accepted rules of supply and demand. #PropertyCasualty https://ow.ly/5uSn50TYAkJ

2

The Midwest Business Group on Health released new survey results from their members. Their members are saying what most employers are- 🎯 "The most significant threats to the affordability of employer-provided care are drug prices (98%)..." 🎯 "...half said that they are considering changing their PBM vendor in the next 1-3 years due to concerns about #cost and #transparency" Employers shouldn't have to figure out better drug prices or changing #PBM vendors alone. That is where Innovative Rx Strategies and our pharmacists and account executives come in. This is the perfect time to start planning on assessments and changes for the future! Reach out today to talk more! #PharmacyBenefits #Pharmacists https://lnkd.in/geQ8Ydb4

5

Some good news for employers: while benefit costs continue to rise, Marsh McLennan Agency's Employee Health & Benefits Benchmarking report indicates that Midwest employers are projected to see lower than average changes in total health benefit costs compared to other areas of the country. With open enrollment underway, we're providing our findings to you free of charge, so that you can cut costs while making plan enhancements. Download now at the link. #EmployeeBenefits

2

As healthcare costs continue climbing 📈 , insurers are leaning harder into "gap-filler" products like critical illness and hospital indemnity insurance. These plans, designed to help workers manage major medical deductibles and co-pays, saw a 10% sales increase in the first half of 2024, totaling $2 billion. Critical illness premiums jumped 17%, while hospital indemnity policies climbed 12%, according to LIMRA data. Why the surge? More employers (37% for hospital indemnity) are offering these voluntary benefits, as flexible regulations and low-risk margins make them attractive to insurers. Players like Lincoln Financial Group Trust Co Inc and Prudential Financial are doubling down, with Lincoln reporting a twofold sales increase in workplace solutions over the past year. The trend underscores a growing reliance on these policies as workers navigate high-deductible plans. While they’re no replacement for comprehensive health coverage, they clearly fill a lucrative niche. #EmployeeBenefits #SupplementalInsurance #HealthcareCosts #CriticalIllness #HospitalIndemnity #VoluntaryBenefits

5

Auto Insurance Fraud is bad for business and causes higher insurance rates for everyone. The recent No-Fault Auto Reforms is tackling this issue head on. #whyismyinsurancesohigh #fraudisbad https://lnkd.in/eVaDHY4s

5

Interesting article noting a couple of keys to a WC line that may soon see some firming; “Medical inflation has been offset in the past number of years by frequency declines, but those are starting to slow, so I expect that the workers comp market will flatten and then start to firm up in the next few years," another intersection thought, COVID-19 is no longer a significant concern. However, “what remains to be seen is the effect of long COVID on the workers comp market, those losses will continue to emerge over the next 20 years...." The reductions in rates can't continue forever, the bottom is near and an ultimate firming of this space. Monitoring the Am Best ratings of the monoline carriers in this space will be imperative. #wokerscompensation #jencap

58

This is a great piece explaining why workers' compensation is performing so well compared to other casualty lines. A couple key takeaways: Higher payrolls are generating more premium which offsets higher claim severity, the opposite of what we are seeing on the liability lines. Workers' compensation remains competitive for buyers. Stable conditions and longer payment tail has carriers competing for business. Are you leveraging your workers' compensation line to support your other casualty lines? You should be. #StormReport #Workerscompensation https://lnkd.in/ejg5pgbw

8

1 Comment

Employee Benefits Consultant, Trent Nichols talks about why working with Everlong Captive is not only an extra arrow in the quiver, but more like a battle axe when talking to prospective clients. Long term investment into a structure that provides predictability, a sustainable cost structure, and the transparency to ensure aligned goals. #brokers #captiveinsurance #everlongcaptive

37

1 Comment

Are you a small employer wondering if your company could save money by moving to self-funding, but you don't have a line-of-sight on your claims utilization? Are you a larger employer that receives retrospective claims analysis from your broker/carrier, but no predictive analysis on future cost? If either of these describe your organization, Michigan Planners has a tool that can help your organization achieve new and actionable insights. Check out the attached press release or reach out to me to learn more!

10