by Frank Stichter, MHP | Oct 23, 2015 | Uncategorized
Fully Insured Plans Working with various insurance companies in most cases has become relatively easy for brokers because the choices within any geographic regions or within a given state are shrinking – this is especially true for fully insured plans. The...
by Frank Stichter, MHP | Oct 8, 2015 | Uncategorized
It’s important to understand the type of organization you are working with, or going to be working with if you choose to utilize a broker. The reason it’s important to know is not only what resources and expertise that they bring to you, but also how they operate....
by Frank Stichter, MHP | Oct 8, 2015 | Uncategorized
There are many types of stop loss contracts and reinsurance companies on the market for your partially self-funded plan. It’s extremely important to know what you purchasing and what if any, exposures you might have. Most brokers rely on third-party administrators...
by Frank Stichter, MHP | Oct 6, 2015 | Uncategorized
Is important to understand how brokers get compensated and how much they charge and earn. Under ERISA, disclosure is required but not all compensation is necessarily disclosed all the time. Compensation to a broker, can be received in the way of commissions and/or can...
by Frank Stichter, MHP | Oct 5, 2015 | Uncategorized
A Pharmacy Benefit Manager (PBM) is a third-party administrator or TPA for pharmacy claims, and is analogous to a Medical TPA except the are paying pharmacy claims instead of medical claims. These are the following are primary responsibilities of PBM’s: Processing and...
