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Back to The Self-Funding Future – Which Echoes of 2016 Will Continue to Impact Self-Funding in 2017

On January 19, 2017
The past decade has ushered in both outrage and opportunity for self-funded plans, and 2016 was no different. The characteristics of self-funded plans continued to alter in concert with new laws and regulations. While these bureaucratic efforts often hindered our ability to self-fund, for those daring enough to change with the times, we saw increased growth and prosperity. We will no doubt see these issues and opportunities continue to evolve in 2017, and only those that prepare will thrive.

The Phia Group's 1st Quarter 2017 Newsletter

On January 17, 2017
2016 has been a busy year here at The Phia Group! Read our newsletter to get acquainted with some of the goings-on in our neck of the woods.

The Stacks - 4th quarter 2016

On January 3, 2017
This is "The Stacks" from The Phia Group's 4th Quarter 2016 newsletter.

The Phia Group Appoints Tim Callender, Esq. as Vice President of Sales & Marketing

On January 3, 2017
Braintree, MA – The Phia Group, LLC is pleased to announce the appointment of Attorney Tim Callender to the role of Vice President of Sales & Marketing.

List of Self-Funded Industry Acronyms

On December 15, 2016
By popular demand, The Phia Group has published a list of common or helpful industry acronyms. This list has historically been used this as a training tool for The Phia Group's own employees, but it is being provided here in the hopes that it is found informative. The Phia Group thanks you for sharing its common goal of reducing health care costs and helping the self-funded industry grow.

2017 Phia Forecast

On December 13, 2016
2016 has been another huge year for self-funding, and a year of significant change for healthcare in general – and with the results of the recent presidential election, 2017 is slated to be an exciting year as well. 2016 has played host to all sorts of new federal regulations, state laws, market trends, and cost-containment options, and we expect 2017 to be even more unpredictable…but still great for self-funding.

Independent Consultation & Evaluation

On November 22, 2016
The Phia Group has for more than a decade been a source of document review, claim analysis, and regulatory compliance consultation for the health benefits industry. Today, statutory changes are occurring with greater frequency, and the industry needs objective analysis and expert consultation now more than ever before. With an ICE subscription fee, clients can preemptively budget for and share the cost of this invaluable resource – allowing The Phia Group and their clients to focus on what is really important – results.

The First 100 Days: President-elect Donald Trump, Healthcare, and Self-Funding

On November 21, 2016
The election is behind us, and no matter who you supported, it was one of the most divisive in recent history. Regarding the contentious topic of healthcare, President-elect Donald Trump has promised to repeal the Affordable Care Act and replace it with a better, more efficient system. The future of our industry is sure to change.

The Good, The Bad, and The Ugly – Ethics: Simple Mistakes vs. Breach

On November 15, 2016
As the Department of Labor hones in on what is ethical (or unethical) and what constitutes fiduciary liability, plan administrators, third party administrators, brokers, and various advisors who service self-funded plans must make a renewed effort to ensure that their actions are in compliance with current legal and ethical standards. All self-funded entities must take steps to avoid actions that may be deemed unethical or in violation of their considerable responsibilities - and even when exercising good faith, it is still possible to act unethically.

How Low Can You Go? Managing Specialty Drugs, Reducing Overall Pharmacy Spend, and Unraveling the Mystery Behind PBMs

On October 27, 2016
Pharmacy Benefit Managers, or PBMs, are an important factor in the cost and value of self-funding - yet many TPAs, brokers, and plan sponsors feel it is impractical to even look into changing the status quo. Self-funded plans and those who service them, however, should be constantly on the lookout for effective alternatives to their current procedures - especially in this aggressive economic and legal climate.

Independent Consultation & Evaluation: ICE, ICE, Baby!

On September 22, 2016
Our industry is plagued by issues related to compliance, contracts, and cost-containment – and a myriad of other legal issues as well. Engaging an expert for a second set of eyes is a chore in itself, requiring approval from management or an individual group as well as a cost-benefit analysis of the expert’s fees – sometimes resulting in the decision not to consult a neutral third-party at all.

Unwrapping Your Wraps

On August 23, 2016
Wrap networks provide plans with discounts off billed charges for claims that don’t fall within the plan’s primary network. But do these wraps really add value? With skyrocketing provider charges and static discounts off of those charges, the modern-day wrap network doesn’t seem to provide much help when it comes to claims costs.

The Phia Group's Response to the DOL Final Rule

On August 17, 2016
A hard day’s work should lead to a fair day’s pay. This is one of the most basic tenets of our economy, it is about fairness, and it is a core belief of our company. At The Phia Group, our mission is to reduce the cost of healthcare through innovative technologies, legal expertise, and focused, flexible customer service. We can only achieve this objective with the help of our employees. We believe that every employee makes a direct and valuable contribution to the strength and competitiveness of our company, and therefore to its growth and success. It is for this reason that we welcomed the new changes to the Fair Labor Standards Act (“FLSA”).

Back to Basics: Plan Documents 101 (Part 2)

On July 13, 2016
When we think of hot topics in the self-funded industry, plan document drafting is hardly the first thing that come to mind. Instead, issues such as fiduciary duties, reference-based pricing, transgender coverage, employee incentives, and provider abuse are on the tip of everybody's tongues. All these topics, however, share a common feature: they're all reflected, in some way or another, within the plan document. Without compliant and effective plan document language, a plan can't offer robust benefit programs while containing costs.

Back to Basics: Plan Language 101

On June 15, 2016
Most situations that involve self-funded benefit plans revolve around language within the plan document. Whether deciding if a service is experimental, or figuring out whether a dependent is actually covered, or deciding whether a leave of absence will extend coverage, the plan document controls in just about all situations. For that reason, it's all the more disastrous when poor plan language handicaps plans and TPAs. Like we always say, your rights are only as good as your language.