Allen Steinberg : Perspectives

Employee benefit plans—especially retirement and health care—have become an increasingly important part of the employment relationship. For employers, these plans represent an important part of the total compensation package, a tool for retention and recruitment, and a growing financial and compliance burden. For employees, these plans represent a key part of their overall financial security and wellbeing, a financial burden, and a source of complexity and frustration. In effect, it’s complicated. Our firm is dedicated to helping employers manage these complexities and focus on the important things.

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Allen Steinberg

22.09.2017 10.04 CDT

: It is for plan administration to diverge from plan documents. It is also risky.

Do What You Say You Are Going to Do

Employers Paying the Cost for Not Following Plan Documents.

Fiduciary Litigation Plan document

Two recent cases (Acosta v. Macy’s, Inc. and Erwood v. Life Ins. Company of North America) serve as reminders of how easy it is for plan administrative practices to diverge from plan documents. The cases also illustrate the risks of allowing this to happen.

Allen Steinberg

08.09.2017 12.24 CDT

The downstreaming of care – to less resource intensive settings – is occurring throughout the U.S. healthcare system. This trend holds promise for patients and payers, but may be a threat to some existing providers.

The Downstreaming of Health Care

What are the Implications of Moving Care to a Less Resource-Intensive Setting?

cost savings Telemedicine

Healthcare services are, increasingly, being delivered in less resource-intensive settings. This “downstreaming” of care will only increase in the years to come and promises to produce lower costs, meet consumer preferences and take advantage of technological advances. However, downstreaming of care will also have significant implications for patients, payers and providers.

Allen Steinberg

24.08.2017 06.53 CDT

Healthcare costs continue to absorb an increasing share of benefits funding. This is forcing employers to find new ways to do more with less help employees meet other key needs. This blog explains the different approaches available to employers in meeting these needs and building employees’ human capital.

Human Capital: Enabling Employees to Build Their Resources

Employers are finding new ways to meet employee needs as healthcare costs crowd out amounts available for employer-funded programs.

employee benefits Human capital voluntary benefits

Employee benefit plans are a way to build “human capital” – defined as the abilities and qualities of people that make them productive. As healthcare costs absorb an increasing share of benefits funding, employers need to find new ways to help employees become secure in their ability to obtain health care, to meet other life exigencies, and to finance their needs in retirement. This blog explains the different approaches available to employers to do more with less in building employees’ human capital.

Allen Steinberg

16.08.2017 09.11 CDT

It may be helpful for members of Congress to remember some key actuarial principles as they continue to consider changes to the health care system.

Large Numbers, Risk Pooling and Congress

As Congress continues to discuss changes to the Affordable Care Act, it may be helpful to share some actuarial and insurance fundamentals.

ACA repeal health care legislation

As Republican legislators continue their efforts to repeal and replace the Affordable Care Act, they keep on looking for new ways to separate portions the insurance markets into different segments. These efforts run counter to some key actuarial and insurance principles: segmenting the risk pool increases volatility and that creation of different risk pools based on health status can lead to increased premiums for many.

Allen Steinberg

02.08.2017 09.57 CDT

As more Americans work past 65, it is increasingly important to understand how employer coverage and Medicare affect each other.

Medicare and Your Employer Health Coverage: Too Much of a Good Thing?

Avoiding Traps in Coordinating Medicare and Employer Health Coverage

insurance late retirement Medicare

As more Americans work past 65, an increasing number are able to join Medicare and retain employer coverage. However, the intersection of Medicare and employer coverage has a number of traps for the unwary and some of these traps come with significant financial consequences. It is important for individuals – and employers – to understand Medicare’s complex rules and to be alert to these traps.