Why Dental Benefits Are Crucial for Your Overall Well-being
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Selecting and utilizing dental benefits is crucial because the condition of your teeth and gums significantly impacts your overall health. Proper oral health care can help prevent oral infections, tooth decay, gum disease, and other conditions. Not only does good oral health support your teeth and gums, but your overall health and well-being.
Here are some of the ways dental hygiene can affect your overall health:
- Help cardiovascular health. Gum disease increases inflammation in the body, including within the soft tissues of the heart. Plaque and bacteria enter the body through the gums and can clog arteries and increase your risk of a severe heart attack or stroke.
- Decrease the risk of experiencing dementia. Poor dental hygiene can cause you to suffer from tooth decay and even tooth loss. Substances entering your body through your gums can negatively impact your brain’s functions. In turn, there is a higher potential for memory loss which can develop into dementia.
- Improve respiratory conditions. Bacteria can travel from your mouth to the bloodstream and into your lungs, directly impacting your respiratory system. Good oral hygiene can help prevent unwanted bacteria from traveling further into your body.
- Lower the risk of diabetes. People with gum disease are more prone to developing diabetes. The reverse is also true; those with diabetes are more prone to gum disease. If you already have diabetes, it’s vital to maintain good oral hygiene for prevention, as you’re more likely to contract certain infections when you have diabetes.
- Prevent some infertility risks. Gum disease can cause infertility issues such as premature birth and low birth weight. Maintaining good oral hygiene can help increase your odds of a normal pregnancy.
How to Practice Good Oral Hygiene
It’s important to practice oral hygiene for your overall health and well-being. Here are a few tips to help prevent periodontal diseases and health issues:
- Brush your teeth daily. Brushing your teeth at least twice daily can help clean your teeth and gums of bacteria and food debris within your mouth.
- Schedule regular dental appointments. Have your teeth cleaned at least once a year in order to maintain good oral hygiene.
- Change your toothbrush every couple of months. You use your toothbrush every day. Changing your toothbrush every couple of months helps minimize the amount of bacteria on the toothbrush, preventing it from being transferred to your mouth.
- Eat firm, whole foods. Firm foods can also help clean your teeth as you eat. Consider foods such as carrots, apples and celery in your diet.
Learn More About Oral Hygiene
Good oral hygiene needs to be a top priority to maintain good overall health status. A healthy mouth is often a sign of a healthy body. For further information on the importance of dental health, reach out today.
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Virtual Second Opinions
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
There may be a time in employees’ lives when they receive a medical diagnosis or feedback they feel uncertain about. Second opinions allow patients facing medical challenges to seek additional medical information on their condition, which can provide clarity and other treatment options available. With the increase in the popularity of telehealth, there is even the option of virtual second opinions, which can provide convenience by saving employees time and travel.
A virtual second opinion can help ease some of an employee’s stress after a serious diagnosis or when looking for a diagnosis for ongoing symptomatic issues. It can be difficult for a patient to find an appointment, especially if they need specialty care. Therefore, offering health coverage that includes virtual care gives a more accessible and efficient option for care. This article explains the additional benefits of receiving second opinions virtually.
Benefits of Virtual Second Opinions
Access to a second opinion can help relieve worry about diagnosis or treatment uncertainty. A virtual second opinion can provide easier access to different opinions, creating peace of mind for a patient. Additional benefits to this virtual care option can include:
- Improved patient care—The most significant benefit patients find from seeking a virtual second opinion is an improvement in overall care. This is due to having access to a large library of doctors nationwide. No matter where a patient is located, they may potentially receive access to any specialist they need.
- Increased timeliness—Receiving a virtual second opinion is often more efficient than going in person to receive one. The virtual process may allow patients to receive in-depth care and a treatment plan from a physician in about two weeks; in contrast, in-person visits are booked months out in most cases.
- Individualized care—It’s easier to make informed health decisions when all the facts are present. With a virtual second opinion, doctors can take the facts and ease patient anxiety by answering questions and creating a clear plan.
- Expanded care—Offering the benefit of virtual second opinions to employees helps those who live in areas of the country that do not have adequate access to health care.
- Eased anxiety—Virtual second opinions can ease the anxiety and stress of employees that may have received a diagnosis or care option they’d like analyzed in-depth. It can also empower an individual to take charge of their health and increase overall health literacy.
It’s important to note that there are different virtual second opinion program levels available. For example, these programs can include quality care for cancer and musculoskeletal disorders. Other programs offer care from specialists and subspecialists, such as surgeons and oncologists, that may be required for a patient’s care.
Summary
The level of care offering needed at each organization will vary, so it’s important to survey the needs of employees to find out which coverage options will receive the most use. Providing the option of virtual second opinions can give employees comfort in knowing they have access to additional care when they need it most. For more information on virtual second opinions, contact RISQ Consulting today.
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A Primer on Medical Stop-loss Insurance
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Catastrophic and unexpected health care claims are on the rise. This increase in catastrophic claims is, in part, the result of medical and pharmaceutical advances, such as specialty drugs and cell and gene therapies, as well as medical price inflation. As a result, many employers with self-funded health plans are actively looking for ways to minimize their financial exposures to potentially catastrophic claims. A common strategy these employers have leveraged is purchasing stop-loss insurance.
This article provides a general overview of stop-loss insurance and outlines some considerations for employers to keep in mind when deciding whether to purchase this coverage.
What Is Stop-loss Insurance?
Generally speaking, stop-loss insurance helps self-funded employers protect themselves from higher-than-anticipated health claim payouts by limiting their exposure to employee medical claims that exceed a predetermined amount. In other words, such coverage can prevent abnormal claim frequency and severity from draining employers’ financial reserves.
Stop-loss insurance plays an important role in helping employers manage their health care costs and protecting against unexpected or catastrophic claims, as it sets a ceiling for the amount they pay in health claims. This coverage is not a form of medical insurance, but rather a policy employers can purchase to manage their financial risks.
How Does Stop-loss Insurance Work?
Under a stop-loss insurance policy, an employer’s claims liability is limited to a certain amount (also called an attachment point), therefore ensuring abnormal employee health claims do not drain the employer’s financial reserves. An employer can add stop-loss insurance to an existing plan or purchase it independently.
If an employer’s health claims exceed a predetermined amount, their insurer will usually reimburse them for all additional claims. For example, if an employer has a stop-loss insurance policy with an attachment point of $500,000, their insurer will typically begin providing reimbursement after the plan’s claims exceed $500,000. It’s worth noting that since stop-loss coverage only reimburses an employer for claims that exceed their policy’s attachment point, the employer is initially responsible for paying employee claims before they reach the established cost ceiling.
Types of Stop-loss Insurance
There are two types of stop-loss insurance: individual (or specific) and aggregate (or total claims). Understanding the difference between individual and aggregate stop-loss insurance can help self-funded employers evaluate and determine which coverage best meets their needs and reduces their financial exposures. Because health plan usage can be unpredictable, some employers choose to purchase both individual and aggregate stop-loss insurance to provide their organizations with maximum financial protection.
Individual Stop-loss Insurance
Individual stop-loss insurance limits an employer’s liability when an individual employee’s medical claims exceed the attachment point. As such, this coverage can protect employers against unexpectedly high claims from individual employees.
Aggregate Stop-loss Insurance
Aggregate stop-loss insurance can help safeguard employers from the total sum of health claims for an entire group of employees rather than any one individual. Under this coverage, an employer is usually reimbursed when their expenses for all employees’ medical claims exceed the attachment point for the plan year.
Stop-loss Insurance Considerations
Each organization is unique. Deciding whether stop-loss insurance is necessary depends on an organization’s specific needs, workforce characteristics and risk tolerance. Reviewing all relevant factors (e.g., rates, policy terms and potential exposures) can help employers decide whether purchasing this coverage makes sense. Employers can consider the following factors when evaluating whether to purchase stop-loss insurance.
Understanding the Attachment Point
The attachment points for individual and aggregate stop-loss insurance differ. Generally, the attachment point for an individual stop-loss policy is a specific dollar amount. As a result, an employer is only responsible for an individual employee’s claims up to that amount.
For aggregate stop-loss insurance, the attachment point is usually a percentage of expected claims. The typical attachment point for aggregate stop-loss insurance tends to be between 120% and 125% of expected health claims. In any case, a stop-loss insurance policy’s attachment point can vary depending on factors such as the employer’s size, employee demographics and overall risk profile.
Evaluating Coverage Limitations
Stop-loss insurance plans are medically underwritten; therefore, an insurer may refuse to cover certain conditions or require higher claim thresholds for those conditions. For example, if a plan enrollee consistently has high-cost claims, a stop-loss insurer may refuse to continue to cover that enrollee or require a higher claim threshold for the enrollee. This practice is known as lasering.
Additionally, since stop-loss contracts typically last for one year, an employer’s high-cost claimants may only be covered for a few months before the insurer excludes them from the policy upon renewal. Thus, the employer will likely be financially exposed to those claims the following year.
Monitoring Increasing Costs
While stop-loss insurance can help employers reduce their financial exposures when health claims are higher than anticipated in a given year, the cost of such coverage can increase annually. Rising claims can also make it more difficult to obtain rates from other providers.
Ensuring Stop-loss Coverage Aligns With Health Plan Provisions
Some stop-loss policies may exclude certain medical treatments or classes of individuals covered by employers’ health plans. Consequently, employers may be on the hook for expensive claims that aren’t covered under their stop-loss policies. Therefore, employers should consider reviewing their stop-loss policies and health plan provisions to ensure they align to limit their potential financial exposures.
Summary
Selecting the right insurance policies can have major financial repercussions for employers. Having sufficient coverage can lower employers’ insurance costs, reduce their risks and keep their workers healthy. Stop-loss insurance can make all the difference in helping employers mitigate their financial risks, especially as catastrophic health claims are increasing. Understanding stop-loss insurance will allow employers to make the best policy decisions for their respective organizations.
For more health care resources, contact RISQ Consulting today.
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High Deductible Health Plans
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Enrolling in a high deductible health plan (HDHP) allows you to place pre-tax earnings in a health savings account (HSA). Then, you can use these saved funds to pay for medical, dental and vision care, and most medications.
The Basics of HDHPs
Many people enroll in an HDHP, a health insurance option that does not cover your first dollar of medical expenses. Instead, these plans have a high deductible that must be met before most services are covered at 100 percent. In general, the deductible must apply to all medical expenses (including prescriptions) covered by the plan. However, plans can pay for “preventive care” services on a first-dollar basis (with or without a copay), including routine prenatal and well-child care, child and adult immunizations, annual physicals, mammograms, pap smears, etc.
HDHPs and HSAs: Their Connection
An HSA is an account that can be funded with your tax-exempt dollars, by your employer, or by both, to help pay for eligible medical expenses not covered by your insurance plan.
Anyone who meets the following criteria is eligible for an HSA:
- Covered by an HDHP, and not covered by any other plan that is not an HDHP
- Not entitled to Medicare benefits
- Not eligible to be claimed on another person’s tax return
After visiting your physician, health care facility or pharmacy, your medical claim will be submitted to your HDHP for payment. Then, you can use your HSA to pay for out-of-pocket expenses that were not covered by your plan. Or, you can simply save your money in your HSA for future medical costs.
For more information on HSAs, ask RISQ Consulting about their HSA flyer!
Why Enroll in a HDHP and Open an HSA?
- Once your deductible is met, most medical costs are covered at 100 percent.
- Contributions to and withdrawals from HSAs for qualified expenses are tax-exempt
- Ability to save for future medical expenses
- Funds roll over from year to year
- If the account is through your employer and you leave, you take it with you.
- You control and manage your health care expenses.
Contributions Are Easy!
Once enrolled in an HDHP, you (and your employer if the account is through your job) can make contributions to your HSA. Remember though, your total contributions are limited annually.
If you make contributions, you can deduct them (even if you do not itemize your deductions) when filling out your income tax return.
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Investing in On-site Health Care
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Amid the rising cost of health care and current labor challenges, employers are increasingly investing in employee health and well-being as an essential part of their workforce strategy. Many organizations see a strong connection between employee health and well-being and their overall business performance. With this in mind, it should come as no surprise that employers are now investing in on-site health care to reign in medical costs and improve employee wellness.
What Is On-site Health Care?
On-site health care refers to employers bringing medical services directly to their employees by establishing health care centers at or near the workplace. On-site health care can provide a full range of services, including advanced primary care, chronic condition management, physical therapy, wellness coaching and behavioral and mental health support. It can also provide increased efficiency for routine services, such as wellness visits and blood draws, by reducing travel and wait times.
Many organizations, especially smaller ones, are unable to provide full-range on-site health care. These organizations, however, are making on-site health care services available to their employees by providing access to telehealth and offering routine or tailored services within the workplace. This allows even smaller organizations to better and more efficiently focus on employee well-being while addressing their rising health care expenses.
Why Organizations Invest in On-site Health Care
On-site health care attempts to remove employee barriers related to accessing high-quality health care. By eliminating scheduling, transportation and child care challenges, employees are more likely to utilize health care services, helping them to improve their health and organizations to reduce their overall health care expenses. Unlike traditional, one-size-fits-all approaches to health care, on-site health care allows employers to customize services to fit their employees’ needs, thereby providing benefits employees will utilize while also reducing expenses.
Benefits of On-site Health Care
On-site health care can help employers deliver high-quality health care to their employees while minimizing overall medical expenses. For many organizations, it can offer measurable health improvements for their workforce and provide a way to stand out among their competitors.
The benefits of investing in on-site health care may include:
- Convenient access to health care—On-site care tends to remove barriers that may prevent employees from seeking medical care and treatment. For example, employees do not need to take time off from work, travel or wait for open appointments with on-site health care. On-site providers primarily serve the employer and, as a result, see few patients. Employees can often schedule same- or next-day appointments, ensuring they receive prompt care. With fewer patients, providers can spend more time with individuals to better understand their needs. On-site health care centers may also dispense medications and perform lab work, allowing employees to save time by not having to travel to a pharmacy or testing center.
- Talent attraction and retention—On-site health care can give organizations a competitive advantage in attracting and retaining skilled workers. Employees generally rate on-site health care as a top benefit, so employers providing this service may see an increase in employee satisfaction and higher retention rates. Moreover, employers who invest in on-site health care send a strong message to employees and potential employees that they value employee health and well-being and are committed to supporting their workers.
- Improved understanding of employees’ health needs—On-site health care allows employers to be better informed about their employees’ medical needs. With traditional health care, workers generally see a variety of providers scattered throughout multiple facilities, whereas on-site health care providers typically serve a single employer. These providers tend to be embedded in a workplace’s culture, allowing them to better understand an organization’s employees and their unique needs. This understanding lets providers and employers offer more focused solutions. Providers can actively monitor employees, address real-time needs, optimize health care services and personalize employee outreach.
Deciding to Invest in On-site Health Care
Bringing health care services on-site has helped employers reduce their rising health care expenses and limit the time employees spend out of the office to visit the doctor; however, organizations need to weigh the costs and benefits of investing in on-site health care. On-site health care centers are a major investment, and employers may not see a return on this investment for many years.
For most organizations, providing full-range on-site health care is not feasible. However, as a result of flexible and innovative health care offerings, on-site health care is becoming more available to all organizations through outsourced services. For example, some employers are providing on-site health care services in the form of routine or tailored offerings, such wellness visits, preventive screenings, health coaching and lab work. Some employers are partnering with other organizations in shared health care centers to reduce expenses. Additionally, telehealth allows employers of all sizes to expand care options and improve employee health outcomes with convenient access. This allows organizations to focus on employee health and well-being, giving them an edge over their competitors.
Conclusion
Employee wellness is typically the foundation of any successful organization. Many employers are now taking a more active role in supporting the overall health and well-being of their employees. Finding innovative ways to keep employees healthy while reducing medical expenses is critical to an organization’s long-term success. For some employers, providing on-site health care may be one of the best ways to accomplish this feat.
For more health care resources, contact RISQ Consulting today.
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Proposed changes to the ACA premium-tax credits could offer relief to families hurt by the “ACA Glitch”
By Ashley Snodgrass, Employee Benefits Analyst
When the Affordable Care Act (ACA) passed to become a law, premium tax credits or subsidies were created to allow the government to pay a portion of individual marketplace premiums for those enrolling in the marketplace. The purpose is to fulfil the mission of the Affordable Care Act by making insurance more affordable and accessible.
What is the “ACA Glitch”? Employer-sponsored coverage plays an important role here. When employers are determining how much employees will pay for their insurance, large employers are required to make coverage Affordable by Federal standards, or potentially face a penalty. When an employer offers Affordable coverage to employees, those employees are not able to receive a subsidy for individual coverage (in theory, because the employee already has an Affordable offer of coverage available to them).
However, what happens with individuals with family members? Herein lies the crux of the “ACA Glitch”. Let’s say an employer allows employees to enroll their spouses/domestic partners and children in a group health plan. What if the cost of the coverage offered to dependents is really high? There are no requirements surrounding how much of family insurance costs employers are required to pay vs. how much of the cost is passed on to employees and their dependents. By allowing employees to enroll their spouse/domestic partner and children in the health plan, those dependents are now ineligible for subsidies, even if the employer-sponsored coverage it is not affordable. In order to qualify for a subsidy, an individual must not have an employer plan available to them.
Proposed changes aim to fix this glitch by making family members of employees who are offered affordable employee-only coverage, but unaffordable family coverage, able to receive premium tax credits to afford coverage on the individual market.
We have yet to see if and how employers will be impacted by this change. The Treasury Department and Internal Revenue Service are working on finalizing rules.
Additional Reading:
White House Statement: https://www.whitehouse.gov/briefing-room/statements-releases/2022/04/05/fact-sheet-biden-harris-administration-proposes-rule-to-fix-family-glitch-and-lower-health-care-costs/
IRS & Treasury Rule: https://public-inspection.federalregister.gov/2022-07158.pdf
About the Family Glitch (2021): https://www.healthaffairs.org/do/10.1377/forefront.20210520.564880/
About the Family Glitch (2022): https://www.fiercehealthcare.com/payers/biden-administration-releases-proposed-rule-fix-longtime-aca-family-glitch
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