The prevailing income replacement benefit percentage in Long Term Disability (LTD) plans is 60%. Roughly 62% of LTD plans proved a 60% benefit level. The next, but far less common, benefit levels are 50% and 67%. Likewise, the use of a 24-month “own-occupation” disability definition dominates the market with about three out of every four plans using this definition.
How does your LTD coverage compare? Let us know if you would like to better understand your disability benefit options and what you can do to manage these programs.
The ACA imposes a fee on health insurance issuers and plan sponsors of self-insured health plans to help fund the Patient-Centered Outcomes Research Institute. The fee, called the Patient-Centered Outcomes Research Institute (PCORI) fee, is calculated based on the average number of lives covered under the policy or plan. (more…)
We believe employers who know their numbers make better plan decisions. We also believe there is value in employers talking to each other about their respective challenges and solutions.
These are the fundamental principles behind our annual “Deep Dive” Roundtable in Columbus. It’s a simple concept really — as plan managers, it’s important to understand what’s driving costs. But tracking and analyzing health plan performance data can occasionally get lost in the recurring waves of vendor implementations and renewals, wellness events, open enrollment, HRIS system changes, or whatever else is the benefits priority of the quarter. (more…)