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News

Health Cost Solutions Announces New Sales Manager, Brian Murnane

Health Cost Solutions Announces New Director of Marketing, Paul Heard

Mitigate Exposure Through a Captive Plan

New Look, Same Great Benefits

The Health Insider

Fully Insured Rates Skyrocketing According to Recent Forbes Column

Significant Growth in First Quarter

Events

September 2016
GLAHU Symposium
Greater Louisville Association of Health Underwriters
Location TBD

9/14/16 - 9/16/16
TN SHRM Conference
Memphis, TN

8/18/16 - 8/19/16
GAHU Annual Convention
Georgia Associations of Health Underwriters
Jekyll Island, GA

5/5/16
MTAHU Meeting
Middle Tennessee Association of Health Underwriters
Nashville, TN

4/25/16
KYAHU Golf Classic
Kentucky Association of Health Underwriters
Louisville, KY

4/20/16 - 4/21/16
TNAHU Symposium
Tennessee Association of Health Underwriters
Memphis, TN

3/22/16
AAHU Symposium
Atlanta Association of Health Underwriters
Atlanta, GA

3/10/16
SAAHU Symposium
South Atlanta Association of Health Underwriters
Morrow, GA

3/3/16
CKAHU Symposium
Central Kentucky Association of Health Underwriters
Lexington, KY

Health Cost Solutions Announces New Sales Manager, Brian Murnane

Hendersonville, TN (February 22, 2017): Health Cost Solutions (HCS) is proud to announce that Brian Murnane has been named Sales Manager. In his new role, Brian will be responsible for sales of HCS products. He currently lives in Franklin, TN with his wife and daughter and is a proud graduate of the University of Tennessee, class of 1982.

With extensive experience in the healthcare brokerage space, Murnane brings over 25 years of industry knowledge to the HCS team. He prides himself on staying current on industry trends and developments, and is passionate about connecting and collaborating with other industry experts. In his personal life, he served on the Board of Directors for the National Humane Association, as well as the Make-A-Wish Foundation and currently appointed to serve on the Insurance committee of the Diocese of Nashville.

Brian is a fantastic addition to the HCS team,” says Beeler. “He brings a lot of passion and innovation to this field and to our company. His years of experience in working with national brokerages and mid-size to large employer groups deliver a deeper level of knowledge to the HCS team. We are excited to have Brian and look forward to what the future holds.”

About Health Cost Solutions:

Health Cost Solutions (HCS) is a Tennessee-based third party administrator with an innovative approach to delivering a cost-controlling health benefits program for employer groups. With over 30 years of experience, HCS provides a suite of services, including: self-funded medical plans, pharmacy benefit management, reinsurance/stop-loss coverage, COBRA administration, and more.

For more information about HCS, contact William C. Beeler at 615.822.0483 or bbeeler@hcsbenefits.com.

Health Cost Solutions Announces New Director of Marketing, Paul Heard

Hendersonville, TN (February 8, 2016): Health Cost Solutions (HCS) is proud to announce that Paul L. Heard has been named Director of Marketing. In his new role, Paul will be responsible for sales of HCS products and management of the sales team. He will report directly to William C. Beeler, Founder and Chief Executive Officer of HCS.

With extensive experience in the reinsurance space, Heard brings a wealth of industry knowledge to the HCS team. He prides himself on staying current on industry trends and developments, and is passionate about connecting and collaborating with other industry experts. He has developed a reputation as a creative and out-of-the-box thinker, which will help HCS clients meet their strategic objectives.

“With more than 30 years of employee benefits experience, Paul is a fantastic addition to the HCS team,” says Beeler. “He brings a lot of passion and innovation to this field and to our company. His work as a consultant and regional sales manager deliver a deeper level of knowledge to the HCS leadership team. We are excited to have Paul and look forward to what the future holds.”

About Health Cost Solutions:

Health Cost Solutions (HCS) is a Tennessee-based third party administrator with an innovative approach to delivering a cost-controlling health benefits program for employer groups. With over 30 years of experience, HCS provides a suite of services, including: self-funded medical plans, pharmacy benefit management, reinsurance/stop-loss coverage, COBRA administration, and more.

For more information about HCS, contact William C. Beeler at 615.822.0483 or bbeeler@hcsbenefits.com.

Mitigate Exposure Through a Captive Plan

Hendersonville, TN (July 16th, 2014): Bill Beeler, President of Risk Solutions Captive, Inc. (RSC), was recently featured on the radio program Inside Healthcare: Critical Thinking for Turbulent Times. Beeler and the host of the show, Robert Chamberlain, discussed how American businesses today have different options related to their healthcare, specifically in the self-funding arena, one of which is the new captive product offered by Risk Solutions Captive.

Beeler explains, “Employers have become more aware of the health benefits they provide to their employees because of the mandated benefits that are part of the act (The Affordable Care Act) as well as the penalties and fines associated for employers that do not provide the minimum benefits as well as the affordable benefits. This has made employers pay more attention to their plan, want more information about their plan, and try to find out what drives the cost of their plan. Until now they have not had this information. All they’ve had from a carrier is a set of rates and a premium increase. Those days have come to an end...Employers want more knowledge. They want more data that they can act upon.”

Partnering with Health Cost Solutions and a highly-rated reinsurance carrier, Risk Solutions Captive provides employers and benefit consultants with ACA compliant options designed specifically for their employees.

“Risk Solutions Captive is basically an insurance company; we have our certificate of authority in the State of Tennessee, we market to employers with 50 employees and above, down to 25 if they have a favorable population, and we allow those groups to participate in our captive, RSC, but we also set up a separate captive cell for that employer group below RSC and they’re responsible for a portion of the risk on the front end. Anything over a certain dollar amount cedes to RSC and then over a certain dollar amount it goes to the reinsurance carrier. It allows those employers to get into the self- funded environment and not experience those peaks and valleys of a self-funded plan,” Beeler said.

Click here to hear the complete interview and learn how Risk Solutions Captive is addressing the growing cost of healthcare coverage through affordable self-funding options.

About Risk Solutions Captive, Inc.:

Risk Solutions Captive, Inc. (RSC) provides innovative solutions for companies with 50 or more employees in the self-funded arena. RSC’s partnership with Health Cost Solutions (HCS), the TPA, provides the foundation for RSC with a variety of services including claims payment, cost containment, billing, reporting, and COBRA services. By partnering with a highly rated reinsurance carrier and Health Cost Solutions, Risk Solutions Captive offers risk protection from high-dollar claims exposure and the highest quality TPA services.

New Look, Same Great Benefits

Health Cost Solutions (HCS) is proud to announce the addition of a Spending and Savings Statement and new Website for 2014.

The Health Cost Solutions Spending and Savings Statement shows a detailed summary of expenses, activities and healthcare purchases for you and any others on your plan. The statement also shows the total savings received from plan discounts and the benefits paid by your health plan.

Health Cost Solutions’ new website will be active this quarter, with an entirely different look and improved functionality. Visit hcsbenefits.com to find the answers and tools you need to manage your health plan.

Thank you for being a Health Cost Solutions customer and we appreciate your business. Please feel free to contact us if we can be of assistance to answer any of your questions.

For your convenience, you can view your healthcare spending and savings statement and EOB forms online at ManageBenefits.com.

The Health Insider

There are a variety of exciting updates to share in this issue of The Health Insider, including a new website, new communication materials and new options for clients. At Health Cost Solutions, we offer some of the most flexible and innovative products in the marketplace, while providing the level of service you have come to know and expect.

Click here to view the latest edition of The Health Insider!

Fully Insured Rates Skyrocketing According to Recent Forbes Column

Hendersonville, TN (June 30, 2014): Recent news of continued rate increases in the medium to large group (50 - 1,000 employees) marketplace has many companies considering other healthcare options for their employees.

In May 2014, FORBES columnist Scott Gottlieb discussed the findings from a recent survey of 131 brokers across the United States. It was determined that average premium increases were in excess of 6% for January 2014 effective dates. This is a significant increase from less than 3% increases found quarterly since 2010.*

These premium increases have resulted in many employers paying the majority of employee health insurance costs, negatively impacting their company bottom lines. In 2015, employers with 100 or more full-time employees will be required to offer health coverage to more than 70% of their full- time employees or face a penalty of $2,000 per full-time employee (less 30 full-time employees) if health coverage is not offered and just one of their employees enrolls in the exchange and receives premium or subsidy assistance. This penalty does not apply to employers with less than 50 full-time employees. Employers with 50 to 99 full-time employees will not be subject to the penalty in 2015, but will be subject to the penalty in 2016.

The utilization of a captive plan allows employers to meet ACA requirements while controlling their costs through custom plan designs specifically fit for their business needs. Self-funding options, such as Risk Solutions Captive, Inc., have become attractive to companies seeking a solution that will reduce employer healthcare costs, improve employee wellness, streamline healthcare delivery and achieve long-term stability.

About Risk Solutions Captive:

Risk Solutions Captive, Inc. (RSC) provides innovative solutions for companies with 50 or more employees in the self-funded arena. RSC’s partnership with Health Cost Solutions (HCS), the TPA, provides the foundation for RSC with a variety of services including claims payment, cost containment, billing, reporting, and COBRA services. By partnering with a highly rated reinsurance carrier and Health Cost Solutions, Risk Solutions Captive offers risk protection from high-dollar claims exposure and the highest quality TPA services.

Significant Growth in First Quarter

Hendersonville, TN (April 7, 2014): Risk Solutions Captive, Inc. (RSC) is pleased to announce it’s first quarter results. To date, 9 groups from 3 states, 1,650 lives, have joined the captive with a current premium of $6,900,000.

Risk Solutions Captive offers a new way to provide quality healthcare coverage for employees at an affordable rate. By teaming with Health Cost Solutions and a highly rated reinsurance carrier, RSC provides quality plans with limited exposure from the insured’s perspective. These partnerships have allowed our groups to see an increased level of cost savings within their companies.

“Finally, a solution for employers our size that allows our company to take advantage of Self-Funding in a Captive arrangement. We could not afford to self-fund our benefits until the captive solution was introduced. The set-up was very easy for the company and our employees.”
—Religious Group, Tennessee (58 Employees)

Outreach efforts for the quarter have included attendance at local and regional conferences, as well as meetings with brokers/agents across the United States. The RSC team will be available to answer questions at many events across the Southeast for 2014.

About Risk Solutions Captive:

Risk Solutions Captive, Inc. (RSC) provides innovative solutions for companies with 50 or more employees in the self-funded arena. RSC’s partnership with Health Cost Solutions (HCS), the TPA, provides the foundation for RSC with a variety of services including claims payment, cost containment, billing, reporting, and COBRA services. By partnering with a highly rated reinsurance carrier and Health Cost Solutions, Risk Solutions Captive offers risk protection from high-dollar claims exposure and the highest quality TPA services.