A week away from the blog is now past…here’s what I missed.
myMatrixx’ Chief Innovation Officer Cliff Beliveau – one of the smartest and most articulate tech people I have ever met – penned an excellent summary of AI’s potential uses in and impact on workers’ comp in yesterday’s WorkCompWire.
Cliff highlights key opportunities and challenges in claims, medical management, fraud detection and claims oversight…download his piece and save it.
Will automation disrupt construction? A better question might be “when will automation disrupt construction?”
Even better “when will what parts of the construction industry be disrupted by automation?”
All are addressed here.
Net is this – the author isn’t convinced we’ll see massive automation within the next decade...but points to a key use of technology that is already speeding up construction – and making it more efficient to boot.
Surprise! medical bills and Junk healthplans – defined as plans with significant limits which often aren’t clearly identified up front – are facing increasing scrutiny. The White House is proposing strict disclosure standards and time limits on junk plans…
“The new proposed rules would close loopholes…that allow companies to offer misleading insurance products that can discriminate based on pre-existing conditions and trick consumers into buying products that provide little or no coverage when they need it most,”
The two – surprise! bills and junk plans, sort of complement each other…the junk plans don’t protect families from healthcare providers’ aggressive billing practices.
The proposed rule would highly limit duration of the plans, requiring clear disclosure of policy terms (as in written in English), and close coverage loopholes.
And one more note of interest for smaller employers looking at self-funded plans, and especially level-funded plans...AM Best’s April 28 2023 Market Segment Report indicates:
- 2 out of 5 small employers (3 – 199 employees) are in level-funded plans
- Just a year ago it was 1 out of 8 employers…
- stop loss insurance loss ratios jumped to 85% in 2021 driven by new and very expensive specialty drugs and a lot more million dollar claims.
Just in the last year, 5 specialty drugs, each costing more than a million dollars annually per patient – have come to market.
What does this mean for you?
Smaller employers be very, very careful of self-insuring…