Prescription drug costs have become one of the fastest-growing expenses in employer-sponsored health plans. Yet despite representing a significant portion of overall healthcare spending, pharmacy benefits remain one of the least understood components of a health plan.
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In 2012 an “antitrust” class action suit was filed against the Nation’s 36 Blue Cross plans, alleging the Blue Cross Association rules prevented fair competition. In the Fall of 2020, there was a “proposed” settlement of $2.7 Billion dollars that would distribute dollars back to Blue Cross customers that had policies between 2/07/2008 and 10/16/2020. The Blue Cross and Blue Shield Association, in partnership with the “local” Blue Cross plan(s) & the settlement administrator gave notice to eligible employer groups (and some individual employees) information about the proposed settlement and how they can register as a member of the class. Eligible employers had a deadline of November 2021 to register/file a claim as a member of the class, and the past 5 years have shown a number of delays & appeals.
OSHA recently released an updated recordkeeping guide that details requirements for tracking employee injury and illness in the workplace via forms 300A, 300 and 301. The new guide adds recently incorporated changes to OSHA guidelines.
It also simplifies reporting guidelines by merging the previous four OSHA reporting documents into a single guide.
The hard market looks to continue as the insurance industry takes a $5.6 Billion underwriting loss. Click the link below to view the full article.
The Rise of social media has continued to put business leaders in the spotlight, and now directors and officers (D&O) insurance isn’t only for large, publicly traded companies. Protect your business and co-workers from costly claims by asking us about our D&O guide, which provides an overview of D&O Policies and their benefits.
DSP is pleased to announce that John Adams and Jerry Olson have been made partners. John and Jerry each bring over 35 years of commercial risk management experience to the agency and will be instrumental in its future growth. They join current partners Bob Schutz and Steve Webster.
DSP recently teamed up with Feed My Starving Children to pack meals for impoverished children in Haiti. This volunteer session packed 58,104 meals, which will feed 159 children for a year. Visit www.fmsc.org to learn more about this great charity.
Is there anything better than serving (or drinking) a draft beer straight from a bright tank? This is as fresh as the beer can get and it’s no wonder that many tap rooms across Illinois and the USA have moved to models where beer is served directly from the bright tank to the consumer. Not only is it extremely cost efficient, but incredibly delicious as well!
Coronavirus is continuing to spread with cases reported in 22 countries around the world. The article below contains a brief overview of the virus and outlines the various laws that an employer must consider in the event that any of its employees have been or reasonably may be exposed to the virus, including OSHA, FMLA, ADA, workers’ compensation and premises liability.
Each year, the Occupational Safety and Health Administration (OSHA) collects work-related injury and illness data from employers. This data collection is called the OSHA Data Initiative (ODI).