<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2022 2022-08-19T06:36:18-04:00 <![CDATA[Reflecting on 25 Years of Risk Strategies. Proud of our Past. Excited about our future. ]]> https://risk-strategies.com/knowledge-center/article/reflecting-on-25-years-of-risk-strategies-proud-of-our-past-excited-about-our-future#When:14:38:42Z A favorite African proverb says, “If you want to go fast go alone, if you want to go far, go together.”

As Risk Strategies reaches its 25th anniversary, I have been thinking a lot about how that statement reflects why we’ve been able to achieve so much. We have arrived at this place because we’ve gone together - the caring, commitment, and tenacity of all Risk Strategies associates.

I’ve also been reflecting on the importance of this milestone. Anniversaries provide the opportunity to pause and reflect on our journey and recognize the role we have each played in its success.…]]> 2022-08-01T14:38:42+00:00 <![CDATA[Hurricane Season 2022 - Time to Prepare]]> https://risk-strategies.com/knowledge-center/article/hurricane-season-2022-time-to-prepare#When:19:27:34Z When we think of June 1, we fondly think of warm days and cool nights, budding spring flowers, fresh cut grass but we should not forget that it also means the start of the Atlantic Hurricane season.

According to the National Hurricane Center, the 2021 Atlantic Hurricane Season was ranked as the third busiest with 21 named storms. The only two busier seasons were 2020 with 30 named storms and 2005 with 27 named storms. Meteorological forecasts for the 2022 Hurricane Season are once again predicting an above average season with between 14 and 21 named storms.

If you live…]]> 2022-06-14T19:27:34+00:00 <![CDATA[“Doc-in-a-Box” Care Models Demand a Cautious Approach]]> https://risk-strategies.com/knowledge-center/article/doc-in-a-box-care-models-demand-a-cautious-approach#When:19:12:06Z The popularity of retail and walk-in clinics for health care delivery has been growing among patients for years and accelerated exponentially during the COVID-19 pandemic.

Convenient and generally quite accessible, these “doc-in-a-box” practices are now an accepted part of the health care landscape, and many hospital systems and physician practices are acquiring or developing them in a growing effort to bolster their reach into local communities.

The expansion of outpatient delivery systems and its resulting influx of new practitioners also presents potential risks. Providers must be positioned to address these to reduce liability exposures, manage claim and loss activity, and…]]> 2022-08-17T19:12:06+00:00 <![CDATA[New Hotline Increases Access to Mental Health Support]]> https://risk-strategies.com/knowledge-center/article/new-hotline-increases-access-to-mental-health-support#When:20:42:04Z In the 2022 Risk Strategies State of the Market report, our National Employee Benefits practice shared an important recommendation regarding mental health. The report stated quite simply that “increasing access and support services for behavioral services is vital.

While many employers have responded by promoting employee assistance programs (EAPs) and offering access to mobile apps and online tools that are designed to help employees with resiliency, relaxation, and meditation, there is a new service to consider. Employers may want to educate their employees about the newly launched Federal Communications Commission (FCC) national 988 Suicide and Crisis Lifeline.

By…]]> 2022-08-10T20:42:04+00:00 <![CDATA[MLR Rebate Considerations for Employers]]> https://risk-strategies.com/knowledge-center/article/mlr-rebate-considerations-for-employers#When:13:18:26Z .img {display:none;}

This compliance bulletin discusses:

  • What are MLR rebates and when they are distributed

  • ERISA and tax considerations for MLR rebates

  • Options available to employers that receive MLR rebates

Medical Loss Ratio (MLR) rebate season is quickly approaching and employers sponsoring fully insured group health plans are required to review their options on how to use or distribute these rebate funds within three months of receipt. Read on for more information.

MLR Rebate Background

Medical Loss Ratio (MLR) is the percentage of…]]> 2022-08-09T13:18:26+00:00 <![CDATA[The Show Must Go On – How Broadway is Tackling Ongoing Challenges]]> https://risk-strategies.com/knowledge-center/article/the-show-must-go-on-how-broadway-is-tackling-ongoing-challenges#When:14:30:14Z To the relief of theatre producers and fans alike, Broadway shows came back in early 2022. After the longest shutdown in Broadway’s history, many wondered how strong of a comeback live theatre would make. So far, popular productions are doing well.  Many shows flourished during this year’s Spring season, though not without challenges. COVID-19 is still affecting the industry, pausing many productions, and preventing stars from performing. This not only cuts directly into revenue, but it also makes insurance policy underwriting and contractual agreements much more stringent.


COVID-19 Drives Changes in Insurance, Contract Agreements

The marketplace for insurance has…]]> 2022-08-08T14:30:14+00:00 <![CDATA[Federal Agencies Release New Contraceptive Coverage Guidance]]> https://risk-strategies.com/knowledge-center/article/federal-agencies-release-new-contraceptive-coverage-guidance#When:19:08:32Z On July 28, 2022, the Department of Health and Human Services (HHS), together with the Department of Labor (DOL) and the Department of the Treasury (collectively, the “federal agencies”), released new contraceptive coverage guidance in the form of FAQs.

The federal agencies released these FAQs in response to reports that individuals are experiencing difficulty accessing free contraceptive coverage in accordance with the Affordable Care Act (ACA).

The ACA guarantees coverage of women’s preventative services, including birth control and contraceptive counseling, at no cost.[1] The recent guidance underscores the legal requirements for group health plans and health insurers (“plans”)…]]> 2022-08-05T19:08:32+00:00 <![CDATA[IRS Releases ACA Affordability Rates for 2023]]> https://risk-strategies.com/knowledge-center/article/irs-releases-aca-affordability-rates-for-2023#When:19:02:39Z .img {display:none;}

The IRS released Rev Proc. 2022-34 on August 1, 2022, announcing the Affordable Care Act (ACA) affordability percentage threshold for plan years beginning January 1, 2023. This percentage is adjusted annually for inflation and will be set at 9.12% for plan years beginning January 1, 2023. This change is a significant decrease from the 2022 standard of 9.61% and the lowest this percentage has ever been set since the rules were implemented.

As a result, many employers may be required to lower their employee contribution rates for 2023 to accommodate this adjusted ACA affordability…]]> 2022-08-05T19:02:39+00:00 <![CDATA[Wildfires, Hurricanes and Cyber Attacks Challenge Private Client Market ]]> https://risk-strategies.com/knowledge-center/article/wildfires-hurricanes-and-cyber-attacks-challenge-private-client-market#When:13:24:34Z High-net-worth (HNW) individuals are facing significant challenges in three key areas: wildfires, hurricanes and cyber attacks.

These macro issues are driving change within the insurance industry; each come with unique concerns. With the right guidance and proactive mitigation strategies, HNW individuals can navigate the hurdles of the evolving insurance market.

Wildfires Threatens Property and Insurance

Wildfire “season” is now a near-year-round phenomenon, devastating communities from the American Rockies to the West coast. Climate change, along with lack of a proactive forestry management strategy, is intensifying the impact of wildfires, making it difficult for carriers to predict risk. Carrier appetite to…]]> 2022-08-04T13:24:34+00:00 <![CDATA[Extreme Heat-Related Illnesses Rise, OSHA Increases Inspections]]> https://risk-strategies.com/knowledge-center/article/extreme-heat-related-illnesses-rise-osha-increases-inspections#When:15:35:59Z As heat waves continue to blanket the nation and many places are experiencing record temperatures, worker safety becomes a pressing concern. Workers suffer an average of 3,500 heat-related injuries and illnesses each year and that number is likely to increase with hotter weather—18 of the past 19 summers were the hottest on record.

The Occupational Safety and Health Administration (OSHA) has recognized this as a growing issue and has launched a National Emphasis Program (NEP) with the goal of reducing or eliminating exposures to heat hazards. OSHA will be increasing inspections by 100% in each region to assess…]]> 2022-08-03T15:35:59+00:00