NBA Champion Robert Horry Draws on Daughter's Health Struggles and Joins ICHRA Movement
Robert Horry's daughter, Ashlyn, spent the first six months of her life at Texas Children's Hospital in Houston hooked up to oxygen.Not diagnosed immediately, Robert and his ex-wife, Keva, found out that Ashlyn was born with 1p36 deletion syndrome, a rare genetic disorder that causes intellectual disabilities.
What Employers Can Do About Increased Healthcare Costs in 2024
The health care landscape continues to evolve in 2024, presenting new challenges for insurers, employers, and employees. One of the most pressing concerns is the projected increase in health care costs, fueled partly by a surge in outpatient procedures observed towards the end of 2023. This spike, attributed to a combination of factors including catch-up care following the disruptions of the COVID-19 pandemic, has raised concerns among patients, insurers, and industry analysts regarding the potential impact on premiums and employer-sponsored health benefits.
Workers Want More Health Benefit Options, Employers Concerned About Cost, Survey Finds
In today's rapidly changing professional landscape, employee health benefits stand out as a category in desperate need of transformation," according to the 2024 State of Employee Health Benefits report from the health insurance platform SureCo. "More than half of Americans under age 65 receive health insurance through their employer, but the current way companies offer benefits is no longer serving anyone.
Prior Authorization Rules Don’t Apply to Employer-based Health Insurance
Centers for Medicare and Medicaid Services put forth a new set of rules to curb private insurance's use of prior authorization. These new rules will go into effect in 2026 and will impact care for the 105 million Americans who receive insurance through Medicare, Medicaid and individual plans bought on the Affordable Care Act marketplace. But the prior authorization rules will not affect the largest number of Americans who have health insurance – the 158 million who receive insurance from their employer.
Workers Cry for Choice: Employer Health Plans Leave Everyone Upset
By attempting to please everyone, employers can find themselves in the unenviable position of pleasing almost no one."Employers provide health benefits to nearly 153 million Americans, which puts them in the health insurance business whether they want to be or not," the 2024 State of Employee Heath Benefits report from SureCo said. "In the current model, business owners, finance professionals and human resource leaders face the impossible task of selecting and paying for plans intended to suit everyone, but rarely do. And thanks to the looming threats in the greater health care sector, their job is only getting harder.
Larger Employers Fund Worker Obamacare Option as Costs Spike
Erik Wissig, chief operating officer of SureCo, an ICHRA technology administrator based in Santa Ana, Calif., said that the average size of companies using reimbursement arrangements is increasing due to greater awareness of the plans. Employers and benefit brokers and consultants “are realizing that ICHRA is not only for the very small company, and there’s an opportunity for larger companies to benefit from implementing an ICHRA program,” Wissig said.
SureCo Analysis Finds ICHRAs Vastly Expand Consumer Choice, Strengthen Individual Insurance Markets
While most employers offer only one health plan to their employees, employees with employer-sponsored Individual Coverage Health Reimbursement Arrangements (ICHRAs) on average are choosing from 23 plans, according to a new survey by SureCo, the leader in helping businesses provide customized healthcare options to employees.
ICHRA Platform SureCo Bolsters Leadership Team With CRO Appointment
SureCo, a leader in helping businesses provide customized healthcare options to employees, announced today the appointment of Tom Mafale to the role of Chief Revenue Officer. With more than 35 years of experience leading health insurance companies, Mafale will work closely with insurance brokers, businesses, and carriers to help employers leverage the opportunities of the burgeoning individual market at scale.
Don't Wait For the Next Bank Crisis to Protect Your Payroll
For many businesses that banked with SVB, managing payroll involved getting funds directly from their accounts, or working with payroll providers that partnered with the mid-size bank. While the federal government quickly ensured that depositors would have access to their funds within days of the closure, President Biden's comments on the matter pointed to the financial strain many business owners — and their employees — were facing when the payroll process was in jeopardy.
Digital Benefits Administration Platforms: Improving HR Processes
Benefits administration is a significant pain point for HR professionals—and a major source of inefficiency for businesses. A September 2022 Insurance Journal article reported that of 1,000 employers surveyed, 37% said administering employee benefits involved moderate to heavy paperwork, while one-third spend 80 hours yearly on compliance. But for all the time invested in benefits management, employers typically have limited options when it comes to offering affordable group health plans.
What Companies Should Prioritize When Navigating Out-of-State Employee Health Benefits
Individual states have their own laws and regulations governing health care coverage, and companies must ensure that their fully insured benefit plans comply with each of these laws.
SureCo Onboards New CRO Tom Mafale
Tom Mafale joined SureCo in 2023 as chief revenue officer, where he is responsible for leading the enterprise’s sales, account management, sales operations, and channel development. Mafale brings 35 years of experience leading best-in-class healthcare organizations as the SVP at UnitedHealthcare, SVP of National Accounts for Aetna, chief growth officer at Paradigm, and more.
ICHRA Platform SureCo Bolsters Leadership Team With Chief Revenue Officer Appointment
SureCo leverages new technology and partners with the majority of carriers to add transparency and quality to healthcare choices. SureCo's trusted Enrollment Platform allows large employers to offer customized healthcare options to their employees, enabling workers and their dependents to choose coverage that fits their personal needs from every carrier and plan available in their area through an Individual Coverage Health Reimbursement Arrangement (ICHRA).
HRTech Interview with Matthew Kim, Chief Executive Officer, SureCo
Employee wellness is critical to the employee’s journey in an organization. How is SureCo acting as a boon for HR departments? Matt Kim tells it all.
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