Colonial Supplemental Insurance, an industry leader in worksite marketing is currently seeking a Regional Recruiting Manager to support the West Region. This employee-based position has a base salary between $45-60K and yearly bonus ranging from $20-30K. We will guarantee the first year bonus at $20K, which means the package is in the $65-85K range. Colonial also offers an extensive benefits package and travel reimbursements. Specifically, RRM responsibilities are to:
This position requires up to 50% travel throughout the West Region. The ideal candidate will reside in the Southern California area, as relocation is not available. We have targeted a final interview date of March 2nd, so all inquiries will be handled quickly. For more information on Colonial, please log on to our website www.coloniallife.com. If you have a proven track record of recruiting
for sales and sales management positions and are interested in a
personal interview, please contact: Craig Cottle,
craigcottle@greyhavens.org. Daily Quote: "Wisdom is knowing what to do next; virtue is doing it." -- David Starr Jordan (1851 - 1931)
Start out the New Year with a Great New Opportunity, Pinnacle Motor Club! A great asset to your portfolio for both group and individual business. Call us at 800-446-1289 or go to http://www.pinnaclemotorclub.com/cashcrazy to get started! 1. US will spend one in five dollars on healthcare Wed Feb 22, 2006 10:26 AM ET - WASHINGTON (Reuters) - Health-care spending is outpacing the growth of the American economy and will consume 20 percent of U.S. gross domestic product (GDP) by 2015, the U.S. Centers for Medicare and Medicaid Services (CMS) said on Wednesday. By comparison, health-care spending accounted for about 16 percent of U.S. GDP in 2004, the latest year for which data are available, according to a study by CMS economists published in the journal Health Affairs. National health care spending will grow by an average 7.2 percent annually over the coming decade, the study estimated. This will be slower than in recent years but still 2.1 percent faster than GDP growth, it said. Recent annual growth in American health-care spending peaked at 9.1 percent in 2002. U.S. spending on prescription drugs was forecast to soar to $446 billion in 2015, up from $188 billion in 2004, according to the study, which is issued annually. However, the average annual spending rise for prescription drugs over the coming decade was seen at 8.2 percent, lower than the projection made in last year's report due to the government's new Medicare Part D prescription drug program. The Medicare Part D prescription drug benefit began last month as a way to help as many as 42 million elderly and disabled Americans pay drug costs. "The prescription drug plans were able to negotiate discounts and rebates that came in larger than we thought, and this has helped mitigate what drug spending would have been," said John Poisal, deputy director of the CMS' health statistics group. "It doesn't mean drug spending won't continue to grow, but it has helped to temper that growth." The Pharmaceutical Care Management Association, a trade group representing pharmacy benefit managers, said the report showed "deeper-than-expected discounts" in both Medicare Part D drugs and overall prescription drugs. Pharmacy benefit managers administer mail order and other kinds of prescription drug plans for health insurance programs. The study also forecast the following for specific areas of health care:
The CMS report, "Health Spending Projections through 2015," was published on the Internet at: www.cms.hhs.gov/NationalHealthExpendData/03_NationalHealthAccountsProjected.asp. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Report: Provisions Written by Special Interests Waste $80 Billion Annually on Drug Benefits; Seniors Pay for Corruption WASHINGTON, Feb. 21 /U.S. Newswire/ -- Specific provisions of the Medicare prescription drug program inserted at the request of pharmaceutical and HMO interests will cost taxpayers and seniors more than $80 billion a year, according to a report released today by the Institute for America's Future and the Center for Economic and Policy Research. The study, released by a coalition of groups led by the Campaign for America's Future, Public Campaign Action Fund, USAction and MoveOn.org Political Action, connects the program's escalating costs and complexity to the influence exerted by lobbyists for health insurance, health services and pharmaceutical companies in drafting the bill. According to the report, industry campaign contributions totaled $96 million from 2000 to 2004, and industry profits will swell by 500 to 600 percent as the new legislation goes into effect. Institute for America's Future co-director Roger Hickey said: "In a sellout to the drug companies, Congress prohibited Medicare from negotiating a better price for seniors. Then it threw in billions of subsides to HMOs, adding another layer of confusion, bureaucracy and costs to the program. America's most vulnerable - seniors in need of prescription drugs - will pay the cost of this corruption." Dr. Dean Baker, author of the report, said that the primary source of the waste is the Bush administration's decision to provide coverage through private providers and to prohibit - at the behest of the pharmaceutical industry -Medicare from using its leverage as a bulk buyer to negotiate lower prices. Baker compared the current program with the most simple and efficient way to cover the cost of prescription drugs: a simple add-on to the basic Medicare program, comparable to the prescription drug benefit provided by most private health insurers. Baker also contrasted the cost of the program as written with the costs of establishing a drug benefit under Medicare but requiring the government to negotiate for lower prices. Baker found that if 50 percent of beneficiaries participated in such a Medicare-run system, the savings in lower administrative costs and drug prices would be more than $40 billion per year. NOTE: Media representatives interested in obtaining a copy of the report should visit http://www.ourfuture.org. INDUSTRY CAMPAIGN CONTRIBUTIONS Institute for America's Future researchers found that, between 2000 and 2004, health insurance, health services and pharmaceutical companies contributed $96,370,907 to candidates for public office.
INDUSTRY PROFITS As costs to the public and seniors skyrocket, so do industry profits. A new Senate report found that Medicare revenues of HMOs and PPOs will increase from $37 billion in 2003 to $226 billion in 2010 under the new law (up 510 percent). During this time, Medicare revenues and profits of the private insurance industry will increase by 611 percent. Because the federal government is paying prices set by the drug companies - rather than negotiating lower prices as does the Veterans Administration and most other countries - fully 61 percent of the estimated $228 billion federal Medicare expenditures will remain with drug makers as added profits, according to Professors Alan Sager and Deborah Socolar of Boston University. The companies are not the only ones profiting from the bill. More than 13 administration and congressional officials in key positions during the writing and passage of this bill now work for pharmaceutical companies. Chief among them is Rep. Billy Tauzin, who chaired the House Energy and Commerce Committee and is credited with guiding the law's passage. Tauzin now works for the drug industry's PAC, the Pharmaceutical Research and Manufacturers of America. His pay is reported to be at least $2 million a year, making him one of the highest-paid lobbyists in Washington. President Bush's Medicare chief from 2001 to 2003, Tom Scully, is now the top health care lobbyist for Alston & Bird, with pharmaceutical clients such as Abbott Laboratories and Carmark. Both Tauzin and Scully reportedly negotiated their lobbying contracts while working on the Medicare reform law from inside the U.S. government. Contact: Toby Chaudhuri of Campaign for America's Future, 202-955-5665 ext. 153; Web: http://www.ourfuture.org http://www.usnewswire.com/ Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Survey Identifies Top Challenges Facing Healthcare Executives In 2006; After Inadequate Reimbursement, Top Concerns Relate to Managing Productivity and Employment-Related Costs ARLINGTON, TX--(BUSINESS WIRE)--Feb. 21, 2006--Nursefinders, Inc. today announced the fourth-quarter findings of its Quarterly Nurse Staffing Survey. The survey uncovers the top ten challenges facing healthcare executives in 2006, with inadequate reimbursement topping the list as the most challenging issue. Not surprisingly, the next overarching concern according to the survey panel of leading healthcare executives is how best to manage productivity and employment-related costs in order to provide quality patient care while faced with the growing uninsured and lower reimbursements from payers. These are just a few of the major findings resulting from the survey. Top Challenges Facing Healthcare Executives - The following issues were rated on a scale of 1 to 5 (1 being least challenging, 5 being most challenging) by a panel of healthcare executives and are based on highest average rating on the scale. Top Challenges Facing Healthcare Executives in 2006 (Issue Average rating on 1 to 5 scale)
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. 21st Services Announces it has Settled Lawsuit with Coventry First MINNEAPOLIS, Feb. 21 /PRNewswire/ -- 21st Services is pleased to announce that it has resolved the lawsuit between it and Coventry First. All claims and counterclaims have been dismissed. 21st Services's insurer has paid an undisclosed sum to Coventry. 21st Services does not admit to any wrongdoing and makes this statement about the lawsuit and settlement. 21st Services entered the life expectancy estimation business in 1998, using an estimation model developed in consultation with third-party consultants. In 2004, 21st Services engaged two outside consulting firms to analyze accumulated data from its life expectancy estimation model. Based on the consultants' analysis and subsequent recommendations, as well as on recommendations of its own director of medical underwriting, in January 2005 21st Services implemented substantial and material enhancements to its life expectancy estimation model, which resulted in longer average life expectancies in the aggregate. These changes included replacing its original mortality table (the 1994 Tillinghast non-medical table) with the 2001 Valuation Basic Table, implementing an impaired-insured underwriting model based on best practices found in the life insurance, long term care and life settlement industries, and implementing a new mortality calculator engine to better capture the mortality impact of minimally and substantially impaired insureds. The new life expectancy model implemented by 21st Services in 2005 relies on a more current mortality table than the company's original model and also adopts a more sophisticated impairment methodology for the assignment of mortality debits and credits. This methodology is expected to result in more accurate estimates of life expectancy and to enhance 21st Services' position in the market. 21st Services strongly believes that accurate life expectancy estimates are in the interest of all participants in the life settlement market. 21st Services has asserted various counterclaims against Coventry. The company's attorneys have concluded, after depositions and a review of documents produced in discovery, that there is insufficient evidence to pursue the counterclaims or to substantiate allegations that Coventry has acted to the detriment of consumers. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. InsuranceNoodle and Safeco Implement XML Electronic Quoting; Technology to process commercial insurance quotes within 10 seconds CHICAGO--(BUSINESS WIRE)--Feb. 22, 2006--InsuranceNoodle ( www.insurancenoodle.com ) announced today the deployment of its newly developed XML electronic quoting capabilities with Safeco (NASDAQ:SAFC) for small-commercial insurance. This new technology will help InsuranceNoodle provide its network of independent insurance agents with Safeco quotes for small-commercial accounts within 10 seconds - a 95 percent improvement over current processing times. As a market leader in XML technology for small commercial agencies, InsuranceNoodle has implemented XML quoting for several leading commercial insurers, including The Hartford and St. Paul Travelers. www.safeco.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
NEW INSURANCE CASE STUDY! Precision email solutions company, ExactTarget, works with over 3,000 companies including Anthem Blue Cross and Blue Shield and its parent company Wellpoint. Read an exclusive case study that discusses how Anthem has used email to deliver personalized, and very profitable, communications to their policy holders and brokers. After you've read the case study, be sure to take advantage of ExactTarget's Referral Program which offers a drawing for Video iPods! "Click here to receive your insurance case study." 6. INSURANCE COMMISSIONER JOHN GARAMENDI ANNOUNCES NEW WORKERS’ COMPENSATION REGULATIONS REQUIRING CERTIFICATION OF CLAIMS ADJUSTERS AND MEDICAL BILL REVIEWERS Effective February 22, the new regulations require all insurers to meet minimum standards of training and/or experience and show certification to the Department by July 1 SACRAMENTO – Insurance Commissioner John Garamendi announced new workers’ compensation regulations Tuesday that will require all insurers to submit certification forms that verify that claims adjusters and medical bill reviewers meet the new minimum standards of training and/or experience. Effective Wednesday, February 22, the new regulations are designed to help speed appropriate care to injured workers and eliminate dysfunction that adds cost to the system. The new regulations complement the workers’ compensation reforms of 2004 and are a result of AB 1262 (Matthews). “These measures will ensure that the people who process claims have the knowledge and experience to make sure that our injured workers are not harmed by needless delays within the system,” said Insurance Commissioner John Garamendi. “This is the first time standards have been established for the handling of workers’ compensation claims. It is yet another important step in the overall reform of California’s workers’ compensation system.” All workers’ compensation insurers, including insurance companies, self-insured employers and third-party administrators, must certify annually to the Insurance Commissioner on or before July 1 that their staff are trained, in training or qualified with experience that meets the standards required by the new regulations. For those who do not meet the experience requirements, training courses are required. A complete summary of the regulations. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. NEW EXPERT COMMENTARY FROM IRMI There are now 763 risk management and insurance articles on IRMI.com. Below you'll find summaries of some recent additions with links to the articles. RIMS SURVEY REPORTS SPIKE IN PROPERTY INSURANCE RATES -- The 4Q survey showed property rates rose sharply in response to insurer losses from the record hurricane damages. http://www.irmi.com/Expert/Articles/2006/Advisen02.aspx THE IMPACT OF TERRORISM ON FOREIGN DIRECT INVESTMENT -- Perceptions of terrorism risk have a great deal of influence on some investment decisions and very little on others. Daniel Wagner explains. http://www.irmi.com/Expert/Articles/2006/Wagner02.aspx A NEW ARROW IN THE JONES ACT EMPLOYER'S QUIVER - Michael Orlando explains how a recent decision my effect settlement negotiations in personal injury cases in which a counterclaim could be asserted. http://www.irmi.com/Expert/Articles/2006/Orlando02.aspx SUBROGATION AND INTERVENTION IN CONSTRUCTION DEFECT CASES INVOLVING WATER AND MOLD - Kent Holland describes a well-reasoned court opinion that will serve as a valuable educational tool for others contemplating similar issues. http://www.irmi.com/Expert/Articles/2006/Holland02.aspx Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. SEC hits 4 KPMG execs with record fines over Xerox Wed Feb 22, 2006 12:55 PM ET - WASHINGTON (Reuters) - Four former and current partners of Big Four accounting firm KPMG (KPMG.UL:) agreed to pay record-setting fines to settle charges stemming from a 1997-2000 earnings manipulation scheme at copier maker Xerox Corp. (XRX.N:), U.S. regulators said on Wednesday. The Securities and Exchange Commission said three of the executives agreed to pay civil penalties and to be suspended from practice before the SEC, with rights to reapply in one to three years, while a fourth partner agreed to be censured. "The settlements announced today, including the largest penalties ever imposed on individual auditors, reflect the seriousness with which the SEC regards the responsibilities of gatekeepers," said SEC Enforcement Director Linda Thomsen. KPMG itself in April agreed to pay $22 million -- one of the largest accounting firm payouts ever -- to settle the case, in which the SEC said KPMG let Xerox manipulate its accounting to close a $3 billion gap between actual and reported results. "The Xerox fraud was a wide-ranging, four-year scheme to defraud investors," said Paul Berger, SEC associate director of enforcement. "The cases brought by the SEC ... have resulted in over $55.2 million in penalties and disgorgement." © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Consumer Group and Widow with $450k in Medical Bills Call on State Legislature to Protect Patients from Junk Health Policies Contact: Jerry Flanagan, 310-392-0522 ext. 319; Carmen Balber, 310-392-0522 ext. 324, both of the Foundation for Taxpayer and Consumer Rights SANTA MONICA, Calif., Feb. 21 /U.S. Newswire/ -- A consumer group and a widow left with $450k in medical bills called on the state legislature today to cap the amount of money patients must pay out of pocket for health care prior to a legislative hearing on so-called "consumer driven" health plans. "These plans aren't worth a dime because they allow insurance companies to sell junk policies that don't protect patients when they are sick," according to Dana Christensen - a widow whose husband was insured under such a limited benefits association health plan but owed a half million dollars in medical bills when he died from cancer. Association health plans promise cheap, comprehensive coverage but don't cap the amount of money consumers pay out of pocket. The tragic story of Dana and Doug Christensen is part of a new online resource published by the Foundation for Taxpayer and Consumer Rights (FTCR) pointing out the skeletal benefits and new burdens under such high cost health proposals. Visit FTCR's resource page at: http://www.consumerwatchdog.org/healthcare/BushCare/ In August 2005, FTCR petitioned the Department of Insurance to investigate these illusory benefit plans. The Department has yet to schedule a hearing. To read the petition go to http://www.consumerwatchdog.org/healthcare/pr/?postId=5045 "Insurance isn't insurance if it doesn't protect patients from financial disaster when they are sickest and need coverage the most," said Carmen Balber of FTCR. Association health plans (AHPs) are sold through organizations for small employers or the self-employed. They are marketed as a way to provide large group discounts to small businesses but the benefits are even worse than HMOs. "These junk health plans are the worst case scenario for patients: higher costs and no protections," said Jerry Flanagan of FTCR. "The state legislature must intervene to protect patients from medical bankruptcy by capping the amount that patients must pay out of pocket." Over the past month, the nation's largest health insurers have reported near-record profit increases. WellPoint, which saw profits increase 250 percent in the 4th quarter of 2005, cited increased enrollment in health plans requiring patients to pay more out of pocket for its huge increase. In 2005, medical bills were responsible for half of all bankruptcies. AHPs promise to pay 80 percent or 100 percent for most health treatments. But when policyholders get sick they discover that their plan caps the amount it will pay for hospitalization or serious illness. Families end up with large unpaid medical bills because they don't get the coverage they were promised. "What's the point of paying for health insurance and then when you need it, discovering the benefits you thought were promised and paid for just aren't there?" said Dana Christensen, a volunteer with FTCR who lives in Playa Del Rey, California. "Mega Life had told us that they would pay 80 percent of hospital costs and we would pay 20 percent. They didn't tell us that chemotherapy was capped at $1,000 a day. Doug's chemotherapy charges were as high as $18,000 a day!" Though the Christensens were insured with an association health plan, Dana was left with $450,000 in unpaid medical bills when her husband died of bone cancer. Their insurance had no limit on out of pocket costs for patients, unlike traditional health insurance or HMOs. It covered only a small portion of chemotherapy costs even though Dana was told they'd had full coverage. On his deathbed, Dana's husband Doug asked her to divorce him so she would not be responsible for the bills. She refused. Read the Christensens' story at: http://www.consumerwatchdog.org/healthcare/st/?postId=5795 The California Assembly Health Committee will hold an informational hearing today following the Assembly floor session. The Foundation for Taxpayer and Consumer Rights (FTCR) is the nation's leading consumer watchdog group. For more information visit FTCR online at: http://www.ConsumerWatchdog.org http://www.usnewswire.com/ Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Community Banks, Inc. to Acquire Wiley Insurance Agency HARRISBURG, Pa., Feb. 22 /PRNewswire-FirstCall/ -- Community Banks, Inc. (Nasdaq: CMTY) announced today that it reached definitive agreement to acquire Wiley Insurance Agency, Inc. ("Wiley"), located in Mt. Joy, PA. Pending necessary approvals, the transaction is expected to be consummated in the second quarter of 2006. Community Banks, Inc. is the parent company of CommunityBanks, which operates 72 banking offices throughout central and eastern Pennsylvania, and northern Maryland. In addition to banking services, CommunityBanks offers complete insurance, investment, trust & asset management and title & settlement services. CommunityBanks Insurance Services, LLC is a wholly owned subsidiary of CommunityBanks. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. Mid-Continent Expands New Medical Malpractice Insurance Program to All 50 States HOUSTON--(BUSINESS WIRE)--Feb. 21, 2006--Mid-Continent General Agency is expanding its medical professional and general liability insurance program for small hospitals to all 50 states. Hospitals with under 100 staffed beds are eligible, as well as critical access, rural/community and certain specialty hospitals. The program is backed by various carriers with A XV (Excellent) ratings or better, bringing top-flight carriers to this previously underserved market. Risk management services add another strong feature to this new offering. Limits are available up to $10,000,000 per occurrence and $10,000,000 aggregate, with claims expense outside the limit. A minimum deductible of $1,500 applies. The professional liability is written on a claims-made form, and the general liability is occurrence. Mid-Continent General Agency is a nationwide provider of specialized insurance products for the healthcare industry. The agency offers programs for hospitals, physicians, allied healthcare professionals, locum tenens and long-term care facilities. www.Mid-Continentga.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Advisors Optimistic About Future of Annuities; IAs Favored Agents rate top 25 companies; Agent’s Sales Journal study reveals what advisors need to sell annuities effectively and the challenges they face Clearwater, FL (February 21, 2006) – More than four in five agents believe there is substantial opportunity to earn additional income from annuity sales, according to the results of the exclusive Agent’s Sales Journal Annuity Survey. Of the more than 500 agents surveyed, 96 percent expressed their confidence in the market, and nearly half said index annuities accounted for the majority of their business last year. Fifty-five percent said they expect index annuities to make up most of their business in the next year, as well. The study also identified the top 10 challenges of selling annuities, the eight things agents need for more effective sales, and the nine most important support services provided by their marketing groups. While 31 percent of agents are contracted with six or more carriers, an overwhelming 71 percent write most of their annuity business through only one or two insurers. And 46 percent say they broker through one single marketing organization. Marketing organizations were noted as the most helpful source of information about annuities, with trade journals coming in a close second. Of the available trade journals, 78 percent of agents prefer to receive their annuity information from the Agent’s Sales Journal. The full results of the study will be published in the April national edition of the Agent’s Sales Journal. In addition, the publication will offer the results of a carrier report card wherein agents rated 25 of the top annuity companies on how well they meet agents’ needs in the annuity market. And, April’s Annuity Sales Guide offers cutting-edge tips to help agents sell annuities and build their business more effectively. The national edition of Agent’s Sales Journal mails to 50,000 licensed life, health, and annuity producers. Eleven regional editions are also available with a combined circulation of 390,000. Call 800-933-9449 for more information. www.AgentMediaCorp.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. The Principal Financial Group Enhanced Variable Universal Life (VUL) Product Designed for Business Owners' Unique Needs; VUL Income Plus Offers Early Access to Cash Values DES MOINES, Iowa--(BUSINESS WIRE)--Feb. 22, 2006--The Principal Financial Group(R) can help today's business owners overcome several challenges, including death benefit protection, attracting and retaining key employees, planning for the long-term future of the business and supplementing personal income in later years. Created to allow easy access to cash values, Principal Variable Universal Life Income Plus(SM) (VUL Income Plus) is the Principal VUL Income life insurance product with Surrender Charge Adjustment Rider(1) and offers a 90 - 95 percent cash value-to-premium ratio in the first year. This high early cash value potential makes VUL Income Plus well-suited for providing executive benefits to selected key employees, as well as for serving as a business succession/planning tool and supplementing income planning as business owners age. The Surrender Charge Adjustment Rider waves part of the surrender charges for a limited time. This can help business owners avoid the large hit to earnings that is commonly associated with business-owned life insurance. www.principal.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Raleigh Health Plans Lead Way to a Post-HMO Healthcare World, According to HealthLeaders-InterStudy NASHVILLE, Tenn., Feb. 22 /PRNewswire/ -- HealthLeaders-InterStudy, a leading provider of managed care industry intelligence, finds that the three largest health plans serving the Raleigh region have posted positive earnings in recent years, despite a long-term decline in HMO enrollment. According to the latest issue of the Raleigh Market Overview, employers have migrated from HMOs to PPOs but are now looking at other insurance options that may hold down health benefit costs. "The Raleigh area has the advantage of a booming economy and a population with a high average level of education, which encourages interested and informed healthcare consumers," said Patrick Powers, HealthLeaders-InterStudy senior analyst. "Blue Cross and Blue Shield of North Carolina, CIGNA HealthCare of North Carolina, and UnitedHealthcare of North Carolina are all highly profitable -- Blue Cross and Blue Shield so much so that its quarterly reports lead with how successful it has been at lowering profit margins, in an attempt to head off negative publicity." HMOs have never been popular in the area, and now hold barely 12 percent of the market share, but all three of the plans have seen members move increasingly away from fully insured PPOs into self-insured plans as employers try to hold down overall health benefit costs. Consumer-directed plans, while enjoying a lot of publicity, represent only about 1 percent of those covered by employer-sponsored health plans. Other news about the Raleigh healthcare market: * The area's major health systems, Duke University Health System, UNC Health Care and WakeMed Health & Hospitals, are all seeking state approval to expand services and facilities in fast-growing Wake County. * More than 40 self-insured employers in the Raleigh area will continue sharing cost and quality information about the market's healthcare providers, creating a bank of purchasing-decision intelligence not available in most markets. www.HealthLeaders-InterStudy.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Leading Danish Insurer Improves Claim Handling & Customer Service with SPSS Predictive Analytics CHICAGO--(BUSINESS WIRE)--Feb. 22, 2006--SPSS Inc. (NASDAQ:SPSS), a leading worldwide provider of predictive analytics software, today announced that Danish insurance company ALKA is fighting customer fraud and enhancing customer services with SPSS' PredictiveClaims(TM) application. ALKA recently purchased and implemented the software to improve claim handling efficiency while reducing the cost of fraudulent claims. www.alka.dk www.spss.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Medicare Expands Coverage for Lifesaving Obesity Surgery Private Insurers Expected to Follow Suit GAINESVILLE, Fla., Feb. 21 /PRNewswire/ -- After an extensive review of medical evidence that lasted nearly a year, the Centers for Medicare & Medicaid Services (CMS) announced today it will establish a national coverage policy for bariatric surgery to help reduce the significant health risks, including death and disability, associated with obesity. This new policy will apply to all Medicare recipients including those over 65 and Medicare disabled who are morbidly obese (body mass index or BMI of 35 or greater) with any obesity related condition or disease and have been previously unsuccessful with the medical treatment of obesity. The American Society for Bariatric Surgery (ASBS), the largest organization of bariatric surgeons in the world, submitted the request for a national coverage determination (NCD) last May. "This is a great day in the war against obesity. We expect many private insurers will take their lead from CMS and improve outdated coverage policies that severely restrict or even ban the use of bariatric surgery. This decision and the data that supports it are overwhelming," said Neil Hutcher, MD, President, ASBS. "Obesity is a disease and for many, bariatric surgery is the best treatment. More patients will now have access to a surgery that can prevent, improve, or cure a number of life-threatening obesity related conditions including type 2 diabetes, heart disease, sleep apnea and cirrhosis of the liver." Morbid obesity continues to be a growing problem in the U.S. affecting between 8 and 12 million people. The number of people who are morbidly obese is growing at double the rate of the rest of the obese population. In 2005, about 170,000 people had bariatric surgery. www.asbs.org www.surgicalreview.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Pennsylvania's Employee Health Plan Restored to Financial Stability, Budget Secretary Says HARRISBURG, Pa., Feb. 21 /PRNewswire/ -- The health insurance plan covering state employees, retirees, their spouses and their dependents is on sound financial footing once again, Pennsylvania Budget Secretary Michael J. Masch told the House Appropriations Committee today. "When Governor Rendell came to Harrisburg in January 2003, the Pennsylvania Employees Benefit Trust Fund was on the brink of insolvency," said Masch, who is chairman of the PEBTF board of trustees. "As health care costs increased in the late 1990s, state contributions to the PEBTF were not increased to compensate. Instead, several 'contribution holidays' actually reduced state contributions. The prior administration opted to completely deplete the PEBTF's reserves to pay for the commonwealth's collective bargaining commitments rather than meeting these obligations out of the commonwealth's current year revenues. "I am happy to report that, today, the fund is in sound financial condition," Masch said. "Due in large part to the extraordinary efforts of the board of trustees over the past three years, the fund has maintained a balanced budget since 2003-04, and it is projected to have a balanced budget through this fiscal year and next. Working together, board members undertook a series of initiatives designed to make the best use of the fund's resources. These include insisting that health care providers guarantee that fees charged are equal to or less than those charged to similar customers and negotiating more competitive costs with suppliers for certain benefits, such as prescription drugs and durable medical equipment. In addition, PEBTF also launched an innovative statewide "Get Healthy" initiative, which offers financial incentives to plan members who take a health-risk assessment and become actively involved in managing their own health. "This responsible, fiscally sound approach has put PEBTF back in the black and headed towards a surplus," Masch said. www.pebtf.org www.governor.state.pa.us Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Transamerica Reinsurance Establishes Local Presence in Brazil CHARLOTTE, N.C.--(BUSINESS WIRE)--Feb. 21, 2006--Transamerica Reinsurance announces the opening of its consulting office Transamerica Re Consultoria em Seguros e Servicos Ltda. with addresses in Sao Paulo and Rio de Janeiro. Transamerica Reinsurance is a division of Transamerica Occidental Life Insurance Company, a member of the AEGON Group. A leading supplier of life and annuity reinsurance products and services in the United States, Latin America and the Asia Pacific, Transamerica Reinsurance will market a variety of risk management consulting services throughout Brazil, including management of all insurance risks, product development, financial planning and customized training programs in insurance activities such as actuarial science and underwriting. www.TransamericaReinsurance.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Grange Insurance Expands Deployment of MicroStrategy for Enterprise Reporting and Analysis MCLEAN, Va., Feb. 22 /PRNewswire-FirstCall/ -- MicroStrategy(R) Incorporated (Nasdaq: MSTR), a leading worldwide provider of business intelligence software, today announced that Grange Insurance has expanded its deployment of MicroStrategy as its strategic enterprise reporting and analysis standard. Grange Insurance is a property and casualty insurer that offers home, auto, and business insurance and a full line of life insurance and financial products through wholly owned subsidiaries, Grange Life and The Grange Bank. www.grangeinsurance.com www.microstrategy.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 20. INSURANCE NEWSCAST "Pictures Of The Day"
View INSURANCE NEWSCAST "Sports Pictures Of The Day" 21. IRMI LAUNCHES NEW RESIDENTIAL CONSTRUCTION RISK AND INSURANCE SEMINAR SERIES DALLAS—In response to tremendous risk and insurance challenges that have confronted residential contractors and developers in recent years, International Risk Management Institute, Inc. (IRMI), has launched a new seminar series: Residential Construction Risk and Insurance 2006: Advanced Strategies for Residential Developers and Contractors. By explaining risk management best practices, discussing the coverage variations in the marketplace, and detailing the ins and outs of wrap-ups and warranty programs, this seminar will equip developers, contractors and their insurance agents, brokers, and underwriters to survive and prosper in the residential sector. The seminars will be held at hotels near major airports in the following cities: Las Vegas on April 26-27, Orlando on May 2-3, and Dallas on May 17-18. The registration fee is $697, with substantial discounts for groups. For more information on Residential Construction Risk and Insurance 2006, go to www.IRMI.com/seminars/Residential or call (800) 827–4242 and ask for the Seminar Coordinator. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. Iowa Commissioner Voss Headlines AICP Heartland Chapter E-Day The Heartland Chapter of the Association of Insurance Compliance Professionals (AICP) is hosting an Educational Day (E-Day) April 28th in West Des Moines, Iowa. The keynote speaker is Commissioner Susan Voss from Iowa. Her presentation will be followed by breakout sessions for Life and Health as well as Property and Casualty compliance professionals. Topics being covered include Suitability of Sales to Seniors, Class Action Fairness Act of 2005, SERFF, SOX, SMART, Patriot Act, Actuarial techniques, E-commerce, the Privacy Act, L&H Advertising, and Credit Scoring. The day will end with Q & A sessions for both L&H and P&C. Registration is limited so register today. More information as well as registration forms are available at http://www.aicp.net/chapters/heartland.cfm#events. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Karl Senner, Inc. Selects Gilsbar, Inc. for Self-Funded Health Plan Management FOR IMMEDIATE RELEASE - Covington, LA – February 22, 2006 - Gilsbar, Inc., a leading provider of third party administration services has been selected as health plan administrator by Karl Senner, Inc. of Kenner, LA. Gilsbar will help manage the self-funded plan by providing claims and HIPAA/COBRA administration for the employees and dependents of Karl Senner, Inc. Gilsbar will also provide utilization review through their medical management subsidiary, MedCom Care Management, Inc. www.gilsbar.com/360 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Starmount Life Insurance Company Recognized As Company of the Year for 2005 Baton Rouge, LA, February 21, 2006 – The Greater Baton Rouge Business Report and Junior Achievement of Baton Rouge announced today that Starmount Life Insurance Company has been named the 2005 Company of the Year (under 100 employees category). The award is presented each year to the company that has made a significant impact to the greater Baton Rouge business community, in particular. “We are honored to be recognized as a business leader in Louisiana,” said Starmount’s Chairman, Hans Sternberg. “The company continues to grow across the country, and we are certainly excited about the prospects for the future.” In addition to life insurance, Starmount and its AlwaysCare Benefits affiliate continue to build upon the progress the company has made in becoming a leader in the dental and vision insurance marketplace. The strength of its products and partnerships remain huge assets for both consumers and agents. One partnership which has allowed Starmount [AM Best B++ (Very Good) rating, 2005] to rise as a leader in the field is its alliance with National Guardian Life* [AM Best A- (Excellent) rating, 2005] allowing Starmount to provide product in 49 states. “This is a great accomplishment for Starmount Life,” said Erich Sternberg, President. “The company has tremendous growth potential, and we continue to see many opportunities in our core AlwaysDentalSM and AlwaysVisionSM benefit plans.” For more information, please visit www.StarmountLife.com or call Julie Andre at 1-888-729-5433 x121. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. bWell international Contributes Towards Successful Launch of Consumer Directed Health Plan for “Fortune 50” Client NEW YORK, NY., February 21, 2006 – bWell international, inc. ( www.bwell-inc.com ), the leading provider of products and consulting services designed to support the identification and implementation of appropriate paths for Consumer Directed Health Plan (CDHP) design and launch, announces results from its flagship CDHP consulting engagement. The findings are based upon a recently concluded 12-month project in which bWell collaborated with the US Benefits Team of a leading technology firm during its CDHP vendor selection and implementation process. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Eight States Targeted For Smart Choice® Expansion GREENSBORO, NORTH CAROLINA (February 21, 2006) – The Smart Choice® Agents Program, which currently serves more than 2,100 independent agencies in 18 states, has announced plans to expand the program in eight states this year. According to President and CEO Douglas S. Witcher, the program is being introduced in Oklahoma, Alabama, Missouri, Arizona, Washington, Oregon, Nevada and Utah. “We are excited about the opportunity to bring The Freedom to Succeed to even more independent agents,” he says. “Our expansion into the states allows us to offer even more independent agents the opportunity to have access to nationally-known, top-rated insurance carriers and benefit from Smart Choice’s training, education and planning assistance.” The Smart Choice Agents Program, founded in 1994, provides access to personal and commercial lines property and casualty markets for agents who could not meet the production requirements of those companies. “We negotiate low volume commitments for our agents, who are directly appointed with each of the carriers,” Witcher explains. “This levels the playing field for hometown agencies. It also allows agents to provide their customers with product choice, ensuring that they are getting the best product for their needs.” www.smartchoiceagents.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Eldorado Computing Introduces Platform Independent Business Process Outsourcing Services for healthcare Payers Phoenix, AZ, February 22, 2006 - Eldorado Computing, Inc. (ECI), a leading provider of health benefit management solutions and world-class business process outsourcing (BPO) services, unveiled today a new Platform Independent BPO option, targeting the growing needs of healthcare payers that want to outsource non-core healthcare business processes. The independent platform allows healthcare payers to leverage existing systems without additional capital investment in software applications. www.eldocomp.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. 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