Mike Cully

If you’re in benefits or risk management, you’re probably aware of the explosive growth of #CaptiveInsurance as an alternative solution to managing the escalating costs of healthcare and other coverages. Learn more in our November webinar. Register at: https://ow.ly/WrPY50U1zVo.

Today’s employees are navigating increased #mentalhealth issues, financial stress, renewed or new tensions in the workplace, and more. In an article for NH Business Review, Anthem Blue Cross and Blue Shield in #NewHampshire president Maria Proulx outlines how your health plan can be an effective partner in supporting your employees’ #wholehealth. https://ow.ly/FVhT30sFJTZ

Summer is heating up and so are healthcare costs. Join us for this informative webinar where we discuss the healthcare economic trends we are seeing and explore some of the factors pressuring costs and how to prepare for 2025 and beyond.

Rhode Island residents facing a temporary disruption in health insurance enrollment due to the RIBridges system outage can breathe a sigh of relief. HealthSource RI (HSRI), the state's health insurance marketplace, has implemented flexible solutions to guarantee uninterrupted coverage for 2025. The Open Enrollment period has been extended until February 28th, 2025. This provides an additional month for Rhode Islanders to choose a plan through HSRI. Individuals requiring immediate coverage can enroll directly with HSRI's partnered insurers, Blue Cross & Blue Shield of Rhode Island and Neighborhood Health Plan of Rhode Island, for January and February. All plan selections can be made retroactive to January 1st, 2025. HSRI will ensure customers receive federal financial aid (advance premium tax credits) for March and beyond once the RIBridges system is restored. Learn more: https://hubs.ly/Q030DhH80

Alera Group Insights: Public entities face growing challenges as they navigate heightened public scrutiny, shrinking budgets and inflation. Having a comprehensive property and casualty (P&C) insurance program and strong risk management strategy is crucial. https://ow.ly/Nqih50TH8pq

Understanding how underwriters determine insurance policy rates and terms can help policyholders obtain favorable coverage. Alera Group’s “Property and Casualty Market Update” provides valuable details: https://ow.ly/nFbJ30sHLy4.

Learn how #GenerativeAI can assist in diagnostics, reduce errors, and optimize workflows for #SeniorLiving operators.

Imagine360, a Pennsylvania-based self-funded health plan, is improving cost management for employers, according to a new actuarial analysis by Axene Health Partners, LLC. Key Findings: - Savings Compared to National Carriers: Employers using Imagine360 saved 19.8% more on healthcare costs compared to major national plans in five major cities (Atlanta, Dallas, Indianapolis, New York City, and Tampa). - Reduced High-Cost Claims: Imagine360 clients experience significantly fewer instances (25% to 67% reduction) exceeding stop-loss insurance deductibles, indicating a decrease in expensive medical claims. - Independent Verification: Lead actuary David Axene, initially skeptical, was impressed by the results, highlighting the plan's effectiveness in reducing costs. Learn more: https://hubs.ly/Q02zy92g0

Could the tide be changing a bit as employers weigh the costs against potential value of obesity drugs? GLP-1 drug coverage for obesity is gaining traction, with 46% of large employers already covering it and another 21% considering it within three years, according to an NAHPC survey. Refer to the article attached for more insights. #Healthcare #Benefits #insurance 

As reported by Becker's Healthcare, the American Medical Association's latest report paints a sobering picture of commercial health insurance markets: nearly half are dominated by a single payer holding 50% or more market share. In Alabama, it's a jaw-dropping 86% held by BCBS. Other states like Kentucky, Michigan, and Louisiana aren't far behind, with one insurer controlling two-thirds of the market. When one company runs the show, competition—and potentially, consumer options—takes a backseat. That said, there are more options in any market to transform your group medical offering than just Big Insurance. #HealthInsurance #MarketCompetition #HealthcarePolicy #employeebenefits #buca