Officials in Chicopee, Massachusetts are working to recover money the city paid for health insurance premiums for municipal employees who had retired and in some cases died.
While acknowledging the data review is not finished, Chicopee Mayor John Vieau said the financial loss is expected to be less than 1 percent of the $15 million budgeted for health and dental insurance premiums and much of it will likely be returned to the city by the insurance carriers.
At a City Hall news conference, he told reporters the erroneous payments were not a result of corruption or illegal activity.
“There is…
There is no shortage of proposals for health insurance reform, and they all miss the point. They invariably focus on the nearly 30 million Americans who lack insurance at any given time. But the coverage for the many more Americans who are fortunate enough to have insurance is deeply flawed.
Health insurance is supposed to provide financial protection against the medical costs of poor health. Yet many insured people still face the risk of enormous medical bills for their “covered” care. A team of researchers estimated that as of mid-2020, collections agencies held $140 billion in unpaid medical bills, reflecting…
How will AI affect the international private medical insurance market? | Insurance Business America
Life & Health
How will AI affect the international private medical insurance market?
AXA head speaks on bias and freeing workers from the ’80/20 rule’
Life & Health
By Gia Snape
Artificial intelligence (AI) and machine learning (ML) are rapidly transforming the global insurance landscape. But AI biases and data privacy risks pose a significant concern in the international private medical insurance (IPMI) industry.
“AI can decide whether some claims are valid within seconds. This gives businesses within our industry the opportunity to both save costs…
We often have clients ask us when the best time to do their estate plan is and the answer is usually, right now! This is especially true for people turning 18 years old, people who don’t have a plan, and people who have had recent life changes.
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One event that should trigger you to meet with an estate planning attorney is a new baby. When you are expanding your family, that…
Employees of a Hempstead-based industrial laundry facility contend they are working in rodent-infested sweatshop-like conditions, including extreme heat and a lack of hot water, and have been without a contract and health insurance for the past six years.
Some of the 175 workers at FDR Services Corp. rallied outside the company’s headquarters Tuesday, holding signs reading “Workers United Will Never Be Defeated” while chanting “Shame on FDR.”
They were joined by members of their union, the Laundry, Distribution and Food Service Joint Board, and state lawmakers, who delivered a letter to FDR management urging the company to negotiate a new…
Parliament Ratifies USD 308 Million Japanese Loan for Universal Health Insurance
The Egyptian House of Representatives ratified a JPY 44 billion (USD 308 million, EGP 9.5 billion) loan agreement with the Japanese International Cooperation Agency (JICA) on 21 June to help fund Egypt’s universal health insurance program.
The loan will complete its disbursement by July 2024 and be repaid over 15 years at 0.01 percent interest.
The agreement was signed on 27 March by Minister of Finance Mohamed Maait.
“Egypt has been working to introduce the Universal Health Insurance System since 2018; however, it faces certain challenges such as…
Jun. 24—MASSENA — Town of Massena retirees say they’re happy with a new health insurance plan that will kick in on Jan. 1.
Zachary Zuckerman, a group benefits consultant at USI Insurance Services in Syracuse, outlined the new plan for the Massena Town Board, with several retirees in attendance. Among them were some who had served on a town committee that examined potential retirement health insurance plans.
Mr. Zuckerman said he was no stranger to Massena, having worked with village officials as well as current Deputy Town Supervisor Patrick M. Facteau when he was the chief financial officer for the…
We often hear many reasons why people do not have an estate plan or why they are putting off creating their estate plan.
We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe to our blog click here).
Here are the top five reasons why people don’t have an estate plan (and why these reasons shouldn’t prevent you from doing your estate plan today):
I don’t have enough money, property, etc. Estate planning is not just about assets. Estate planning is a way to protect your…