Archive for the ‘Health Insurance’ Category

The 5 step Lawyer’s guide to a financially successful surgery

After law school, lawyers know big bills. But nothing unnerves the seasoned litigator more than getting exorbitant vague notices of funds due after a traumatic surgery. Their own surgery or a family member’s, no one is in a state of mind to deal with this mound of paperwork filled with insurance and medical jargon. Use […]

Five questions to determine if you need a new insurance broker

Having the right broker can be the most important decision in your firm’s insurance programs.  The wrong broker can recommend the wrong coverage designs, wrong companies, and cause you to overpay by tens of thousands of dollars.  Their expertise can assist you with valuable advice so that you have the right coverage and coach you […]

The Health Insurance Renewal Is Late Again!!! The timeline you need to get it right.

As the Managing Partner of your firm, you are responsible for the decision making when it comes to the firm’s medical insurance renewal.  It is more likely than not, that medical insurance is your single biggest expenditure after payroll.  So it’s all handled in an orderly and timely manner right? Does this scenario sound familiar?  […]

The four blunders that law firm partners make in buying health insurance. Are you guilty as charged?

When it comes to health insurance, and benefits in general, law firms frequently make crucial errors that result in significantly overpaying for their insurance policies.  Although law firms must be generous to retain their best assets (their employees), these common four mistakes while looking like generous strategies, do not provide any benefit to the employees. […]

What Dewey & LeBoeuf Employees Need to know about Medical Insurance

Medical Insurance Issues Virtually all medical plans that involve employee contributions operate under Section 125 of the Revenue Code which sets forth the rules for taking contributions on a pre-tax basis. One of the caveats is that you can only change your election at open enrollment or if you have a life event. Loss of […]

Stop buying health insurance, start buying Health Care – Your Four Point Strategy for 2012

Your firm has a comprehensive costly top tier insurance plan with unlimited benefits.  When a catastrophic illness or injury impacts you, your medical insurance will LIKELY fail your needs.  Why?  Even top of the line expensive health insurance policies are no longer structured to fully cover your health care needs.  There are so many limitations […]

Public Service Announcement: Empire Blue Cross Ending the Plus Wraparound Plan

The Tradition PLUS Wraparound Plan from Empire Blue Cross (the plan you didn’t mind paying a fortune for), will be disappearing in January. Partners, S-Corp owners, LLC members loved this plan.  Yup, the one that lets you go to any doctor or hospital with a $200 deductible and $400 coinsurance cap, not to mention the […]

Goodyear Tire saved 6% on their benefit costs without a single plan change – Here’s how you can do it too

With health care costs continuing to rise at a pace that far exceeds inflation, firms are looking for additional ways to reduce benefit costs.  One option is a dependent eligibility audit.  This is a systematic approach to making sure that your health plan covers only those who are eligible.  This can be a significant cost […]

Out of Network Doctors – Four Strategies That Work

In our last post http://wp.me/pLc5O-1L, we described this year’s significant changes to Out of Network coverage.  Insurance companies are reducing their out of network reimbursements from usual, customary and reasonable (UCR) to a percentage of Medicare.  If you will be continuing to use out of network doctors, here are four strategies to minimize the impact […]

Out of Network, Out of Line – What Happened Here?

Out of network, out of line – If you ever use out of network benefits on your medical plan, brace yourself for a huge shock when you get your bill.

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