Learn more about pressing issues in the healthcare community. Corporate Synergies provides you with fresh points of view and recent articles that are both relevant and timely.
Corporate Synergies Group ranks fourth on the Business Insurance list of Largest U.S. Benefit Specialists and 60th on the Business Insurance list of the 100 Largest Brokers of U.S. Business. The rankings were published in the July 18, 2011 issue of Business Insurance. The rankings are based on 2010 revenues. Benefits Specialists are defined by Business Insurance as brokers who derive 50% or more of their gross revenues from benefit business. The Largest Brokers of U.S. Business list includes companies that derive at least 50% of revenues from commercial retail brokerage or employee benefits.  For more information please visit: www.businessinsurance.com.
We know that financial executives face tough decisions every day in order to ensure the future health of their companies. And our industry is no different – between the rising costs of employee medical benefits and the development of healthcare reform, health insurance has been a topic discussed over many conference tables in recent months. At Corporate Synergies Group we are committed to staying on top of healthcare trends both across the marketplace and in Washington.
In May 2011, in the case of Cigna Corp. v. Amara, the U.S. Supreme Court held that a misleading or incomplete summary plan description (SPD) for a cash balance pension plan could not support a claim for benefits under the Employee Retirement Income Security Act (ERISA). Instead, the terms of the actual plan document were the controlling factor. While this was only one of the court’s conclusions in Amara, the impact will be felt by all ERISA-covered benefit plans—including health and welfare plans.
Prescription drugs are vital to preventing and treating illness and in helping to avoid more costly medical problems. Rising drug costs, implementation of the Medicare Part D drug benefit in 2006, and expansion of both the number of people covered by health insurance and the breadth of their benefits from the passage of health reform legislation in March 2010 have highlighted the need for a better understanding of the pharmaceutical market and for new approaches to address increasing prescription costs.
Employer-sponsored insurance is the leading source of health insurance, covering about 157 million nonelderly people in America.1 To provide current information about the nature of employer-sponsored health benefits, the Kaiser Family Foundation (Kaiser) and the Health Research & Educational Trust (HRETHRET) conduct an annual national survey of nonfederal private and public employers with three or more workers. This is the twelfth Kaiser/HRETHRET survey and reflects health benefit information for 2010.
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“The team members were knowledgeable and very eager to help us make informed decisions on the various options to offer our employees.”