IRS Increases PCORI Fee
On October 18, the IRS issued Notice 2023-70, which increased the Patient-Centered Outcomes Research Institute (PCORI) fee from $3.00 per covered life to $3.22 per covered life for policy and plan years that end on or after October 1, 2023 and before October 1, 2024....
Avoiding the “Leveraged Trend Effect”
Have you ever received a larger-than-expected stop-loss premium increase and your carrier blamed “leveraged trend”? Well, here’s what they mean. The fact that rising claim costs contribute to higher plan costs may be self-evident... but not just in ways that are...
Combatting Drug Price Increases Requires Proven Saving Solutions
From a new report published by the U.S. Department of Health & Human Services: "Over the period from January 2022 to January 2023, more than 4,200 drug products had price increases, of which 46 percent were larger than the rate of inflation. The average drug price...
Employees Celebrate 30+ Years with MedBen
At a recognition event on October 6. MedBen honored employees who are celebrating benchmark anniversaries with the company in 2023. We congratulate all this year's celebrants and thank you for everything you do for our clients! Three employees are observing 30 or more...
AOA Recommends Yearly Eye Exams to Detect Vision Problems
Recent updated guidance from the American Optometric Association recommends annual eye exams for all adults 18 and older in order to detect vision problems as soon as possible. "Comprehensive eye exams provide the opportunity for early detection of eye health...
The PBM “Non-Rebate” Rebate Shuffle
In their continuing quest for bigger profits, major pharmacy benefit managers (PBMs) have adapted a new tactic: clever wordplay. What was once known as a "rebate" – a partial refund of the drug payment back to the plan – now goes by a variety of other terms, such as...
MedBen Closing Early on October 6 for Employee Recognition Event
On Friday, October 6, MedBen will be closing at 12:00 p.m. EDT for a company employee recognition event. We will reopen at 8:00 a.m. EST on Monday, October 9. As a reminder, many of your claims and benefits-related questions (including those pertaining to prescription...
MedBen Rx Humira Biosimilar Recommendation
Here's some cost-saving news for MedBen Rx clients. On July 1, 2023, biosimilar products were released for the popular and expensive anti-inflammatory therapy, Humira. A 30-day supply of Humira, which is used to treat a variety of conditions from Crohn’s to rheumatoid...
HDHP/HSA 2024 IRS Guidelines Update
The MedBen Compliance team has updated its High Deductible Health Plan (HDHP)/Health Savings Account (HSA) summary to include 2024 IRS guidelines. In 2024, the HDHP minimum required deductible is $1,600 for self-only coverage ($3,200 for family coverage), while the...
Annual Wellness Exam Reminder
Believe it or not, the end of 2023 is fast approaching... so it's a good time to remind your plan members to schedule their yearly wellness exam! Many plans may require members to get their wellness exam by December 31 to stay compliant – and failure to do so could...
Alternative Reimbursement Strategies Save
By self-funding your health coverage, you will save money compared to a fully insured plan. But by going a step further with MedBen alternative reimbursement strategies – or even multiple steps further, as we'll explain below – you stand to save even more. In addition...
Diagnosis Code Required for Certain Ozempic Prescriptions
Important information for MedBen Rx clients using the Ventegra formulary: Effective October 1, an appropriate ICD-10 diagnosis code for type 2 diabetes will be required for certain Ozempic prescriptions and all other GLP-1 class medications. Ozempic and other GLP-1...