Daily Insurance Report - Walt Bernard Podgurski

Daily Insurance Report  
Walt Bernard Podgurski,  Editor,  440-773-1108, 
Walt@DailyInsuranceReport.com 

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Editorial Mission Statement: The goal of this publication is to provide readers a broad selection of what is being written about the insurance industry and related issues. Some articles may have a “tilt” towards a particular perspective one way or another. Inclusion in this newsletter is not an endorsement of any views or content; but report the various and differing views appearing in media.
  Tuesday, 06/11/19 - https://DailyInsuranceReport.com 

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The "Daily Insurance Report" publishes the life insurance, health insurance, and employee benefits news that matters.



METLIFE LOOKS TO PARTNER WITH 16 STARTUPS THROUGH NEW EVENT
FinTech Global

MetLife is hosting its fifth ‘ignition’ summit where it will explore potential partnerships with 16 startups.

The aim is to find emerging digital capabilities which can boost the insurance industry. There will be 16 companies brought to the MeLife New York headquarters along with 200 of its own business, operations and tech leaders.

Each company will be given a 30-minute session to present the value they could provide MetLife through a partnership – the over-arching theme is “Strengthening Connections in a Digital World.”

Startups will present under one of four themes. Three of these target connections with existing customers, future companies, or colleagues and partners. The final theme is around confidence and how a digital solution could manage risk while promoting business growth.

A potential reward for successful startups is an investment of up to $100m through the MetLife Digital Ventures fund.

Other advantages of the ecosystem include close relations with 18 venture capital firms, the MetLife Digital Accelerator, and close work with other startups.


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CVS And Walgreens Are On Different Paths To In-Store Healthcare
Bruce Japsen, Senior Contributor / Forbes

For now, it appears CVS Health and Walgreens Boots Alliance are going down different paths and at different paces to providing healthcare services inside their stores.

But neither pharmacy chain rival is turning away from retail healthcare as a critical growth strategy.

News this week that CVS Health is expanding its new "HealthHub" concept to 1,500 stores across the U.S. within three years provides clarity to the drugstore chain’s plan to fill unused and underperforming retail space with more healthcare services, medical supplies and equipment.

CVS earlier this year began to pilot three “HealthHUB” locations in Houston that dedicate more than 20% of the store to health services, adding thousands of new “wellness items” as well as additional services at its MinuteClinics in the health hub stores. New CVS employees in the HealthHUB stores will include a “health concierge” and a dietician, executives said this week.

Though CVS has partnerships with various medical care providers in different markets across the country, its HealthHub strategy appears to be taking on a national brand unlike Walgreens healthcare push.

Walgreens has signed partnerships with health insurance companies and medical care providers to collaborate on in-store health services as well as medical care adjacent to the drugstore.

Walgreens in April announced a deal with the primary care provider VillageMD, which is developing clinics next to Walgreens in Houston as a precursor to a potential national rollout. And in the Kansas City market, Walgreens has a joint venture with the health insurer Humana to develop senior health clinics inside the drugstores.

For the last two years, such partnerships have been testing concepts and piloting healthcare services and technology to develop what executives have called the "drugstore of the future."



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Colorado a step closer to adopting health reinsurance plan
READING EAGLE / ASSOCIATED PRESS

Colorado is a step closer to creating a program designed to lower health insurance premiums on the Affordable Care Act individual market.

If approved by federal officials in Washington, D.C., a state reinsurance program could help about 250,000 Coloradans who buy health coverage on the market set up under former President Barack Obama's health care law.

Reinsurance allows private insurers to lower premiums by having the state take on their highest-cost cases.

Colorado's application for approval is complete, the Department of Health and Human Services told state Insurance Commissioner Mike Conway on June 5. A final decision is expected within 180 days.

Gov. Jared Polis' office said Thursday the decision could come sooner — allowing the state to embark on a program that analysts say could lower individual market premiums by 21% statewide in 2020. Rural and mountain residents could see greater reductions of at least 27%.



Interest in employee ownership models growing
By Anne Wallace Allen / VTDIGGER

Vermont ranks third in the nation for the number of people working in companies with some form of worker ownership, including Employee Stock Ownership Plans, or ESOPs, and worker cooperatives.

This year, the Vermont Employee Ownership Center will introduce lesser-known forms of employee ownership at its 17th annual conference, scheduled for June 12 in Burlington.

VEOC plans to introduce a workshop this year on structures such as the employee ownership trust, a practice now seen more in the United Kingdom than in the United States. And conference-goers will be able to learn about other forms of equity compensation for employees that are neither ESOP nor cooperative, said Don Jamison, a founding executive director of VEOC.

Interest in employee ownership appears to be rising, said Jamison, who expects 250 people to attend the conference. Normally 150 to 175 attend, he said. Jamison said he didn’t know what’s driving interest this year, but Vermont itself is a leader in the employee ownership field because it seems to have a high proportion of companies that prioritize social responsibility.



Namely partnership offers employers college prep benefit
Amanda Schiavo / Employee Benefit Adviser

HR platform Namely is offering its 1,300 corporate clients a new education planning benefit by teaming up with MyKlovr, a growing virtual counselor for college-bound students.

Employers using Namely’s brokerage services in order to manage their employee benefits will now be able to offer MyKlovr’s virtual college counseling services to their employees.

The service allows students and parents to gain personalized, step-by-step guidance on college admissions, the planning process, and financial preparation. The benefit will be offered post-tax on a voluntary basis and will be paid for through payroll deductions.



PSNC 2019: Engaging Employees With Benefits Programs
Plan sponsors are meeting participants ‘where they are’ to promote financial wellness.
By Judy Faust Hartnett / PLANSPONSOR

When you pursue wellness, it has a ripple effect. If you help someone with his health and wealth it will not only help your corporation but also the person’s co-workers, family and community as the person becomes less stressed out. That’s why this is such an important topic for us, said David Hinderstein, founder and president, Strategic Retirement Group and moderator of the panel “Engaging Employees With Benefits Programs,” on the second day of the 2019 PLANSPONSOR National Conference (PSNC) in Washington, D.C.

As companies expand both their health and financial wellness programs, they are exploring new communication channels and methods to connect with employees. A recognition that stress over debt and financial issues can be just as detrimental to physical health as an illness has led employers to expand employee well-being programs to create a healthier and more productive workforce.



More companies adding, expanding fertility benefits for employees
Sarah Plake / KSHB Kansas City

About one in eight Americans struggle with infertility.

More companies, both in the metro and nationwide, are adding and expanding fertility benefits for employees because of high demand.

Fertility care, including in vitro fertilization (IVF) and intrauterine insemination (IUI), have advanced over the last several years.

The insurance benefits have also advanced.

"It might be IUI or it might be jumping right into IVF for you. And we include everything that might be needed to enhance your chances of becoming pregnant with a viable pregnancy," Arielle Bogorad, Senior Director of Worldwide Benefit Design for Cerner said.



LIMRA and LOMA Launch Best Interest Training Programs for Industry Professionals to Comply with the Amended NY State Reg. 187

LIMRA and LOMA today introduced a comprehensive training program to help sales professionals and home office employees understand and comply with New York State Regulation 187, which goes into effect on Aug. 1, 2019.

The program, Understanding Best Interest: New York Reg. 187, offers two comprehensive courses – one for sales professionals and one for home office employees. The producer training is tailored to provide the information sales professionals need to know to comply with New York Reg. 187, while the home office training describes how the rule could impact those working in new business/suitability review, customer service, agent service, operations, and other roles.






Archives

Monday, 06/10/19 - Regulators must scrutinize advice by insurance agents

Tuesday, 06/04/19 - 5 Workplace Benefits Today's Employees Want, but Don't Have

Wednesday, 06/05/19 - Pennsylvania Moves to Take Over Health Insurance Exchange

Thursday, 06/06/19 - CVS to open 1500 stores focused on healthcare

Friday, 06-07-09 - Younger Workers Put Student Loan Aid Near Top of Desired Benefits
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Walt Bernard Podgurski - - Editor
440-773-1108
Walt@DailyInsuranceReport.com