Employers who sponsor self-funded group health plans (as well as fully-insured employers who want to proactively comply with non-discrimination requirements) and are moving from defined benefit (DB) to defined contribution (DC) funding arrangements need to decide and define how they allocate funds for employees to use. DC funding arrangements allow an employer to completely define their maximum annual spend for health benefits prior to open enrollment.
We occasionally get questions from brokers and employers about how they should setup their defined contribution funding arrangements. In a future post we'll share some of the general guidance that brokers can share with their clients. However, in this post we'll take a more technical approach, looking first at the regulations that apply to employers moving to a full defined contribution funding arrangement.
The question over where small groups will land in the insurance exchange marketplace remains top of mind across the health insurance industry. “Most of the attention to date has been on large employers, but small and midsized employers actually stand to gain the most value by participating in exchanges,” according to Booz and Company. And, the opportunity for health insurers to tap into this market with a private exchange offering is sizeable.
Every year around this time, analysts, consultancies, and human capital researchers publish a barrage of annual reports on employer-sponsored health benefits. Array is keeping a close eye on movement and trends in this space, and there's certainly no shortage of reading material or data.
We at Array Health are deeply interested in file standardization. While we've got a lot of experience interfacing with our clients using their proprietary file formats, standardization across the industry makes life easier for everyone. If health insurance had its own version of pain remediation, it might just be file standardization.
Prior to the signing of the Affordable Care Act (ACA), the term “exchange” meant something to military communities, stock or commodity traders and readers of historical fiction.
There has been a lot of activity and questions raised in the past month around exchanges, but one thing is clear--private health insurance exchanges are gaining in popularity.
When people think of a private health insurance exchange, they generally think of the marketplace itself, but there’s a lot of work that goes into the backend, including enrollment files, member maintenance files, billing data, plan data, and rating data. We’ve been managing and maintaining integrations with carriers’ enterprise systems since 2006, but in this blog post we’ll focus on one of the most notorious file formats for enrollment and why it’s here to stay.