In this changing landscape of health care, employers in Alaska require reliable, accurate advice when it comes to their employee benefits. Managing your employee benefits is time-consuming. A trusted advisor should be a key partner allowing employers to focus on running their business instead of deciphering insurance jargon. Whether your organization participates in the Alaskan Federation of Natives Plan, is looking into the federal plan option, or is non-native Alaskan organizations seeking the appropriate benefit fit, having someone you trust walk through the process with you can be your most valuable partnership. Questions about benefit usage may arise, such as:

• When an insurance plan says “covered in full,” what does that really mean?
• If I go to an “out-of-network” provider, could there be a balance bill owed beyond what I pay for deductible and coinsurance?
• What type of physician balance bills in Alaska? And, what can I do to avoid balance billing?
• Are there any other alternatives to specialty care in Alaska?
• How difficult is to establish a workplace wellness initiative that’s meaningful?
• Can my employees purchase their own benefits that the employer sponsors?

A trusted advisor will guide you through the answers. The recent Supreme Court decision on the Affordable Care Act raises more questions for Alaskan employers as well. How do you get reliable answers with an overwhelming amount of information and opinions? Your trusted benefits advisor helps you sort through the complexity of the issues and find solutions that are tailored to your industry, culture, population, etc.

By investigating your options and identifying your organization’s needs, your trusted advisor is also your advocate. They will help you evaluate Alaska medical benefits, short term and long term disability, life insurance, wellness programs, and even HR support. A trusted benefits advisor works with you to make a more informed decision and in turn, enables you to empower your employees be smarter and healthier consumers in a post healthcare reform world, leading to better financial health for your employees and your bottom line.

You deserve someone who understands your unique needs providing benefits in Alaska.

At Wallace Insurance Group, we are employee benefits consultants who work with employers to administer and manage benefits packages for employees. With offices in Anchorage Alaska, we help employers throughout the state with comprehensive group health insurance and benefits plans including retirement plans, executive benefits, medical insurance, dental insurance, 401K administration and more. If you are looking for Alaska employer benefit plans, contact Wallace Insurance Group today at 907-272-0114 or fill out our free consultation form on our website: Free Alaska Employee Benefits Plan Consultation.

Did You Know That Nearly One In Five Americans Who Shop For Life Insurance Go Through Their Place Of Work?

For that matter, many employees seeking to purchase not only life insurance, but also critical illness, short term and long term disability insurance would prefer to access it through their employer.

According to LIMRA Group Product Research Analyst Kim Landry, “Clearly, the convenience of having the resource at their place of work coupled with the feeling of security felt by working with someone their employer has (implicitly) approved, are drawing consumers to this channel.”

Wallace Insurance Group works closely with employers throughout Alaska to provide life insurance and voluntary insurance products best suited for their employees. Within each product, there are also options that enable employees to tailor insurance coverage to best meet their needs and the needs of their families.

In addition to the benefit received by the employee of having a convenient and trusted life insurance option through their own place of work, the employer is perceived as a resource to their employees and accrues good will between the management and workers.

To learn more about how you can begin offering life insurance and other high quality, cost-competitive insurance benefits to your employees visit: www.wallaceinsurancegroup.com or call us toll free: (888) 929-0114.

The federal government has put forth a one size fits all solution related to insurance reform for all states, but all states are not equal in their healthcare needs and one size does not fit us all.  This issue has become very political and unfortunately in Alaska, this legislation will create many challenges for our state.  As Alaskans we need to develop our own solution, not one that is prescribed for us from a distance.  We need a solution designed to effectively meet our unique challenges. I am convinced we have many tools at our disposal that can make a difference in Alaska.

There is a realistic alternative to the unchecked rise in expensive health insurance that we experience in Alaska. No where else in the country does the cost of healthcare increase out of pure supply and demand economics. Efforts to put forth a program in which Alaska small employers can enjoy lower health insurance costs by making effective and meaningful wellness initiatives available continue through The Foraker, Alaska State Chamber Group Benefit Plan. Alaska small employers who participate in teaching and coaching their employees in becoming prudent healthcare consumers will lead to the change we need.

Forcing insurers to insure any and all risks for a set price will only cause Alaska health insurance premiums to increase, not decrease.  There is simply no downside to getting and keeping our employees healthy.  Everybody wins. Through the action of those small employers, this program can make an impact on Alaska’s cost issue.

In addition to the wellness programs, the solution involves creative health plan designs, innovative underwriting criteria promoting these plans, promoting best practice medical care, stake-holder involvement, medical tourism if necessary and much more.  If we as a state continue without addressing our own needs or try to fit the square peg in a round hole with the federal solutions, costs will continue to rise unabated and without resolution. Alaskan’s can come together to make this difference.

For more details, to share ideas or ask questions, call Wallace Insurance Group at 907-272-0114 or 888-929-0114 and let’s lead this change as responsible health care consumers and business owners in Alaska.  We look forward to hearing from you.

Wallace Insurance Group has been working closely with the Alaska Federation of Natives (AFN) to offer comprehensive and competitive benefit plans to AFN member companies.  Recently, because of a newly formed relationship with Alaska Native organizations via the Federal Affordable Care Act through the federal government, there are more health care benefit options to members of these organizations.

At first glance these benefits may appear more cost effective to your organization. However there are a number of critical items missing from the federal plan that should not be overlooked when making a decision for your employee benefit plans.

At Wallace Insurance Group we encourage you to look carefully at your benefit choices and contact us for more clarity at any time.  Currently, the AFN benefit plans include the following coverage options which the new federal plan does not.  Keep in mind that some products that are not available through the employer can be obtained for a cost by individual employees:

• Some Professional Services Including Naturopathy and Skilled Nursing Facility
• Air or Surface Transportation for Services Not Available Locally, for Non-Emergent, Medically Necessary Conditions.
• Routine Vision and Hearing Exams and Hardware
• Employee Assistance Program
• HR Resources Available to Employers
• Monthly Webinars Addressing Benefit & HR Issues Employers Face
• Online Payroll Services Available to Employers of 100 or More in the AFN Plan
• Life Insurance
• Short Term Disability

In addition, there are many categories of coverage with higher deductibles and more restrictions when comparing the new federal plan to the existing AFN plan, including prescription drugs, mental health, chemical dependency and rehabilitation benefits.

Please contact Wallace Insurance Group to discuss which choice is the best for you at 907-272-0114 or email info@wallaceinsurancegroup.com with your questions.

As the State of Alaska treads down the road of discussing why healthcare is so expensive here when compared to the six other states surveyed, it will be interesting to see if any groups come forth to oppose disseminating the new data to the public.   The piece, “Drivers of Health Care Costs in Alaska and Comparison States,” published November 29^th, 2011 outlines pretty clearly just how expensive health care is in Alaska.   It’s huge and it continues to go un-checked.   Why hasn’t the public been more vocal on this issue?   Health care costs are closing in on 18% of the GDP, not too far from 20%

The Alaska Journal of Commerce’s article, “Health care costs are biting Alaskans, businesses harder‘”reported Dr. Ward Hurlburt, the state’s chief medical officer stating that costs (are) “unsustainable” in the state and nationally.   Hurlburt stated to the House Health & Social Services Committee that annual spending in Alaska alone was $7.5 billion;  “…that’s half of overall wages in Alaska”  Representative Wes Keller, R-Wasilla responded.    The real rub, the article stated, is that, for all this money, Alaskans aren’t getting healthier.    The state is the second highest in the nation in per-capita health care spending but the quality of health care is ranked 38^th in the nation and Alaska is ranked 35 overall health, according to the report.

If you’re an employer in Alaska, what does this mean for your employer paid benefit plans?

1) Employ an expert benefits consultant in Alaska with access to the best options for you and your employees because it isn’t an easy environment to navigate on your own.

2) Talk to your employees and your healthcare providers about the importance of transparency in health care costs.  Knowing how much services cost can influence healthier choices.

3) Incentivize your employees to live healthy lifestyles with employer paid health and wellness programs to improve recruiting and retaining quality employees in Alaska while lowering your overall health expenses.

Contact Wallace Insurance Group to hear more about how you can lower your employee benefit plan expenses while delivering your employees more of what they need to be healthy. Call (907) 272-0114 today.

The Alaska Federation of Natives (AFN) Association Benefit Trust has been running successfully for 40 years.  Providing employee benefits in medical, prescription drug, vision insurance, life and dental coverage, along with Short Term and Long Term Disability protection.   This year, being no different than the last 40, it renews April 1^st.    Currently, there are 65 + native organizations that participate and have been reaping the rewards of some of the most competitive insurance coverage in the state of Alaska.

The AFN Benefit Trust (employee benefits for participating membership of the AFN)  is now introducing unlimited commercial air transportation, or medical transportation, for medically necessary conditions.   Regardless of where you live in Alaska, participating employees and their dependents can fly to the nearest facility for medical treatment and fly back upon completion.   Also, if the individual can demonstrate that the procedure they were considering having is less expensive in Seattle than Alaska, the AFN Plan will provide round-trip-air-transportation in lieu of an air ambulance.   This would be for non-emergent medical conditions.

Why are we doing this?  Because our members need the best treatment they can find at the most competitive cost.  Call (907) 272-0114 to talk about employee benefits in Alaska, group health insurance in Alaska and of course, AFN benefits in Alaska.

Are you an employer in Alaska trying to provide your employees with competitive health insurance plans and finding yourself frustrated with the premiums increasing year after year?  At Wallace Insurance Group we understand Alaska is a challenging place to provide benefits for your employees.  The few choices for insurance carriers, limited access to hospitals, a scattering of doctors in remote areas, and no managed care are all factors contributing to double digit increases each year.

Wallace Insurance Group has been providing employers unique health insurance plan options and benefits solutions since 1972.  To read more about how a high deductible health plan (HDHP) and a health savings account (HSA) may be a realistic alternative for your Alaskan business, download our free guide “Combat Rising Health Care Costs with High Deductible Plans“.

Wallace Insurance Group is an employee benefits consultant firm working with employers to administer and manage benefits packages for employees.  Contact us to learn more about a high deductible health plan for your business or organization at (888)929-0114.

Are you an Alaskan employer frustrated with double digit increases to the cost of your health insurance benefits plans?  Alaska is a unique and wonderful place to live and work but it’s a challenging place to provide benefits for your employees.

A few things you can do to have an immediate impact is to understand what’s in your employer benefits package and educate your employees on how to choose health care providers based on value. The U.S. Department of Health and Human Services’ Value-Driven Health Care web site page offers a relatively comprehensive approach to making value-based health care decisions and encouraging transparency throughout the health care industry.

Wallace Insurance Group has been providing Alaskan employers with a broad range of employee benefit plans and solutions since 1972.  Our objective is to help you find an affordable benefit plan that can also act as an effective tool for attracting and retaining quality employees.  Contact us for a free consultation and Alaska health insurance quote and let us help you today.

For all AFN Employers, we’d like to take a moment to remind you of the renewal coming up April 1st, 2012 and some things you might keep in mind while considering the renewal process.

Open Enrollment: Many groups hold an open enrollment period in the month of March.  This does not mean you must conduct an open enrollment session; groups that pay 100% of the employee premium tend to not have open enrollment because 100% of the eligible employees should be covered anyway.  Those employers that do not pay 100% of the employee premium, tend to offer open enrollment in March since employees are allowed to not be covered.

When do I receive my new rates? We’re projecting to have April 1, 2012 rates by sometime mid-January 2012, roughly 70 days prior to the renewal.  When you receive the renewal packet, you’ll have the opportunity to either stay in your current plan or switch to one of the other six medical plans available.  Employers will also have the option to switch life, dental and STD coverage as mentioned below.

How are my own rates determined?

• Rates are based on your group’s specific demographics, claims data, the plan in which your group participates, and your employee count.
• If your group is 50 employees or fewer, your claims data is pooled to a greater extent with the rest of the employers of that size.   The reason this is important to you is if someone in your group incurred a very large claim, it would not necessarily impact your rates………….because it would be part of the aggregate claims inside the pool.
• Employer groups of 51 and greater are more individually underwritten but still take advantage or participating in the larger AFN pool.
• You might ask;  What if our group didn’t have any big claims that we were aware of this year?
  • The rates as mentioned above are determined by a number of factors to make it fair for all groups.

Will we see any claims data on the AFN or my group specifically? In the renewal packet, there will be aggregate premium / claims information on the entire AFN pool.  We do not and cannot share specific employer claims data.  Additional financial information will be included in the packet which will detail our reserve status.

If we want to shop around to see if we’re getting the best deal possible, how can we do this? Just let us know that you want a quote outside the AFN plan and we’ll make the request on your behalf.

• If you would prefer to work with another broker, let us know and we’ll assist you and the broker any way we can.  We don’t hold groups back from performing your due diligence.
• The one thing you need to be careful of is comparing a plan outside the AFN that might be inferior to the benefits offered in the AFN, just to receive less expensive premiums.   If a proposal comes in from another carrier and it just looks too good to be true……..it typically is.   If we believe that moving outside the AFN is the right decision for your group, we’ll definitely tell you so.

Is the AFN Plan competitive with the rest of the market in Alaska? Very much so.  The AFN plan has been offering competitive plans and rates for almost 40 years.  We are continually less expensive for comparable plans in any of the community pools offered by other insurance companies.   Keep this in mind though;  healthcare in Alaska is probably the most expensive in the country and the rates in all plans have to reflect that reality.

What about our AFN Dental, Life Insurance or Short Term Disability Plans? You can make changes to any of the benefits you have currently or may add benefits, effective April 1^st, 2012.  There are two dental plan options, four life insurance options and four short term disability options.

How has Healthcare Reform affected the AFN Plan? Current legislation that went into effect last year and April 1^st of this year did result in some positive changes:

• Our life time maximum is now unlimited.
• Employees can have their dependent children stay on the plan until they reach the age of 26.
• Some groups that changed plans this past renewal did go into a “non-grandfathered” status, which means their preventive benefits became richer.

Where can we find more information on the AFN Employee Benefit Plan? If you have any questions about the upcoming AFN Employee Benefit Plan Renewal or Employer Benefits Plans, please contact Wallace Insurance Group via email, the website or by phone. We’d like to hear from you.

Despite everyone’s best effort, moving The Foraker Group Benefit Plan from its current community pool to an association plan will not be possible this fall as we had hoped. After much discussion at its July meeting, the Governance Board decided a change at this point is not in the best interest of Partners. While there are several positive aspects to moving out of the community pool, overall the move could result in increased premiums. While our claims experience is favorable compared to other groups similar to us, the size of our pool just isn’t large enough to stand alone as an association plan.

However, The Foraker Group plan is not going away. Foraker is working closely with Wallace Insurance Group and Premera to develop the next generation of the benefit plan. It will be incubated as a new pool within the community pool with an increased emphasis on wellness. We believe that the wellness strategies that are the basis of the Foraker plan are still dynamic and provide real benefits to the organizations that make use of them. We also believe a Foraker Group Association Plan will become a reality. While the road hasn’t been as smooth as we wished, we are making the necessary changes so that we can eventually transition into our own plan.

If you have questions, please contact Rebecca Savidis at rsavidis@forakergroup.org, or call 907-743-1200. Learn more about The Foraker Group.