MedBen Analytics Introduces COVID-19 Impact Dashboard
MedBen Analytics has a new COVID-19 Impact Dashboard for plan administrators. From COVID-19 testing claims to telehealth and office visit utilization trends, the dashboard helps to quickly track the pandemic’s effects on your plan. As you review your COVID-19 data,...
Questions to Ask When Choosing a Stop-Loss Carrier
Stop-loss coverage protects employers against excess and catastrophic claims… and while price is a consideration, it’s important to examine other factors, such as: How long has the carrier been in business? Is the carrier financially sound? What is its A.M. Best...
PCORI Filing and Fee Due By July 31
As in years past, all self-funded employer health plan sponsors are required to file and pay their Patient-Centered Outcomes Research Institute (PCORI) fee no later than July 31, 2020. As part of the Further Consolidated Appropriations Act of 2020, Congress last year...
Direct-to-Employer Contracts and Reference-Based Pricing Outperform Traditional PPO Plans
In 2019, MedBen reference-based pricing (RBP) plans performed 24.7% better than traditional PPO plans. Many MedBen clients blend their RBP plan with direct-to-employer contracts, which promotes the use of quality care through local facilities. In exchange for...
IRS Announces 2021 HSA Cost-of-Living Adjustments
The IRS recently announced its annual cost-of-living adjustments affecting health savings accounts (HSAs) for calendar year 2021. HSA Contribution Limits – The annual HSA contribution limit for individuals with self-only HDHP coverage increases to $3,600, while the...
IRS Notices Address Cafeteria Plan Election Changes, FSA Grace Period and Carryover
The IRS recently released two notices of interest to employers offering flexible spending accounts (FSAs). Notice 2020-29 relates to cafeteria plan elections and FSA grace periods, both of which are optional. These plan amendments must be adopted before December 31,...
The MedBen Rx Advocate Model: Pass-through Transparency, No Margin Manipulation
A recent Benefits Pro article highlights two pharmacy benefits management (PBM) business models: traditional and pass-through. MedBen Rx Advocate begins with the pass-through approach but takes it one step further by eliminating margin manipulation. The traditional...
MedBen Analytics Home Page Changes, But Reporting Features Remains the Same
You may have noticed that the log-in screen of MedBen Analytics recently had a design update, but be assured that all the features remain the same. MedBen Analytics is an online service available to all clients and brokers, providing insightful data that helps...
MedBen Office Closed in Observance of Memorial Day
Our home office and client services will be closed on Monday, May 25 in observance of Memorial Day. We will reopen at 8:00 a.m. EST on Tuesday, May 26. Plan members that need claims and benefits information during the holiday weekend (or any other time) can typically...
Self-funded Saving Opportunities Highlighted at MedBen Employer Roundtable
Self-funding provides unique ways to save plans money, and MedBen knows how to deliver those savings, said President & CEO Kurt Harden at the 4th Annual Employer Roundtable Webinar on May 14. "In this time that we're all trying to look at cost, self-funding is one...
MedBen Rx Saves
Three-quarters of MedBen clients use MedBen Rx prescription programs and are seeing the benefits first-hand. By utilizing our forward-thinking pharmacy solutions, these groups realized an average savings of 14.8% per employee per year, compared to those using other...
Extension of Time Frames Regulation Summary Available for Download
Earlier this month, the Department of Labor released COVID-19-related regulations specifically addressing deadline relief for employee benefit plans, plan participants, and plan beneficiaries. MedBen has prepared a summary of these regulations, which is available on...