<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2022 2022-01-20T09:58:08-05:00 <![CDATA[Delivery Costs are Increasing—And for Good Reason]]> https://risk-strategies.com/knowledge-center/article/delivery-costs-are-increasing-and-for-good-reason#When:12:55:28Z Get ready to pay a lot more to ship your packages through FedEx. The shipping giant recently announced costs are going up an average of 5.9% starting in 2022. This is the largest price hike for the company in a decade, and is likely to get the attention of customers who are used to inexpensive and rapid delivery. The cost of doing business continues to steadily rise, and those costs have yet to be passed on to the customer. FedEx’s rate bumps likely offer a glimpse of what is to come for the entire delivery industry.

Amazon's Influence on…]]> 2022-01-20T12:55:28+00:00 <![CDATA[U.S. Supreme Court Reinstates CMS Vaccine Mandate Rule ]]> https://risk-strategies.com/knowledge-center/article/u.s-supreme-court-reinstates-cms-vaccine-mandate-rule#When:21:29:30Z On January 13, 2022, the U.S. Supreme Court lifted lower court injunctions that had temporarily blocked enforcement in 25 states of the Centers for Medicare and Medicaid Services (CMS) Interim Final Rule requiring healthcare worker vaccinations (CMS Rule or the Rule).

The CMS Rule applies nationwide to healthcare providers, support, or suppliers that are regulated under CMS health and safety standards including hospitals, nursing homes, rehabilitation clinics, and other facilities that receive Medicare or Medicaid funds.


On November 5, 2021, the Center for Medicare & Medicaid Services (CMS) issued its own regulations for certain healthcare facilities that participate in…]]> 2022-01-18T21:29:30+00:00 <![CDATA[The Future of Risk: The Cost of Risk in A Changing Market]]> https://risk-strategies.com/knowledge-center/article/the-future-of-risk-the-cost-of-risk-in-a-changing-market#When:21:10:06Z The past year was defined by an unprecedented number of varied natural catastrophes, political and social unrest, COVID-19 variant concerns, supply chain crisis and surging ransomware attacks. As we enter 2022 and look to the future, the cost of risk in our dynamic environment will be determined by how insurance carriers underwrite these risks and how businesses evolve and manage their risks.

Insurers’ Biggest Concerns, Current and Future

Three of following factors and events are driving market transformation and they will continue to fuel change in the insurance industry for the foreseeable future.

  • Severe Weather Events: Severe weather…]]> 2022-01-18T21:10:06+00:00 <![CDATA[Supreme Court Update on Federal OSHA ETS]]> https://risk-strategies.com/knowledge-center/article/supreme-court-update-on-federal-osha-ets#When:21:58:39Z On Thursday, January 13, 2022, the U.S. Supreme Court blocked the federal OSHA vaccine and testing Emergency Temporary Standard (ETS) for employers with 100 or more employees. Although the parties may continue to proceed with legal action in the lower courts, OSHA is once again prevented from enforcing the ETS for the foreseeable future.  

    At the same time, the U.S. Supreme Court allowed a vaccine mandate for healthcare workers at facilities that participate in the Medicare and Medicaid programs to go into effect nationwide.

    Risk Strategies will continue to work diligently to provide our clients with the most up-to-date information.

    ]]> 2022-01-13T21:58:39+00:00 <![CDATA[The Future of Risk: Thinking Differently in a Dynamic Environment]]> https://risk-strategies.com/knowledge-center/article/the-future-of-risk-thinking-differently-in-a-dynamic-environment#When:15:49:34Z The insurance industry is changing rapidly as the world evolves around us. It’s being quickly pulled into the future by the pandemic, advancements in technology and a changing climate. The past is no longer prologue. Carriers, brokers, and business leaders alike cannot rely solely on historical data and events to predict an uncertain future.

    The future of risk management requires us to respect this unusual moment and challenge ourselves to think differently. Those who insist on carrying on with business-as-usual, or who don’t understand the shifting fundamentals, will find themselves left behind.

    Macro Factors Driving Change in the Insurance Industry

    <![CDATA[Health Plan Coverage for OTC COVID-19 Tests]]> https://risk-strategies.com/knowledge-center/article/health-plan-coverage-for-otc-covid-19-tests#When:15:52:28Z Starting January 15, 2022, health plans and insurers are required to cover over-the-counter (OTC) COVID-19 tests at no cost for covered individuals, according to recent joint federal agency guidance. On January 10, 2022, the Department of Health and Human Services (HHS), together with the Department of Labor (DOL) and the Department of the Treasury released FAQ guidance requiring health plans and insurers to cover OTC COVID-19 tests at no cost in an effort to enable people to easily and affordably screen for infection and limit the spread of the Omicron variant.

    Health plans and insurers are required to cover…]]> 2022-01-11T15:52:28+00:00 <![CDATA[Winter Freeze Alert]]> https://risk-strategies.com/knowledge-center/article/winter-freeze-alert#When:21:58:07Z Water expands when it freezes and when it is located within piping, metal and/or plastic, the expansion increases the pressure on the piping resulting in broken pipes. Once temperatures rise and the ice begins to thaw, the piping that was compromised could create a high pressure water stream causing damage to walls, furniture and anything within its path.

    When the temperatures outside drop below freezing, the temperatures in unheated areas of buildings can also drop significantly. The most susceptible areas are; unheated spaces like attics, crawlspaces and concealed spaces (above suspended ceilings), uninsulated and/or unheated stairwells, and loading dock areas…]]> 2022-01-10T21:58:07+00:00 <![CDATA[No Surprises Act – Say Goodbye to Surprise Medical Bills]]> https://risk-strategies.com/knowledge-center/article/no-surprises-act-say-goodbye-to-surprise-medical-bills#When:16:14:14Z The No Surprises Act (NSA), part of the Consolidated Appropriations Act of 2021, protects individuals covered under group and individual health plans from receiving surprise medical bills when they receive most emergency services, non-emergency services from out-of-network providers at in-network facilities as well as services from out-of-network air ambulance providers.

    What are Surprise Medical Bills?

    Surprise medical bills result when insured individuals inadvertently receive care from out-of-network facilities, doctors, or other providers that they did not choose. They can pose a financial burden on individuals when health plans deny out-of-network claims or apply higher out-of-network cost sharing. Further, individuals often…]]> 2022-01-10T16:14:14+00:00 <![CDATA[OSHA ETS Reinstated by Federal Appeals Court, New Enforcement Deadlines]]> https://risk-strategies.com/knowledge-center/article/osha-ets-reinstated-by-federal-appeals-court-new-enforcement-deadlines#When:15:02:58Z OSHA ETS Reinstated by Federal Appeals Court, New Enforcement Deadlines

    On Friday, Dec. 17, 2021, the Sixth Circuit Federal Court of Appeals reinstated the Occupational Safety and Health Administration’s (OSHA) Emergency Temporary Standard (ETS) for COVID-19. The Sixth Circuit decision reverses the stay ordered by the Fifth Circuit in November. The Sixth Circuit’s ruling was challenged immediately by various parties directly to the U.S. Supreme Court, which agreed to hear oral arguments on Friday, January 7, 2022 in connection with the OSHA ETS as well as the CMS vaccine mandate rule. Unless the Supreme Court reissues a stay or ultimately…]]> 2021-12-30T15:02:58+00:00 <![CDATA[Reporting Deadlines Extended for Rx & Health Care Spending]]> https://risk-strategies.com/knowledge-center/article/reporting-deadlines-extended-for-rx-health-care-spending#When:23:25:35Z On November 23, 2021, the Department of Health and Human Services (HHS), together with the Department of Labor (DOL) and the Department of the Treasury (collectively, the Departments), released interim final rules implementing parts of the Consolidated Appropriations Act (CAA) with new requirements for employer-based health plans and health insurers to submit data about prescription drug and health care spending to the Departments. The deadline to submit this data has been extended to December 27, 2022 for 2020 and 2021 calendar years.

    Reporting requirements for employer-based health plans and health insurers in the group and individual markets include the…]]> 2021-12-29T23:25:35+00:00