Products March 22, 2016

Maestro Rolls Out Modernized Self-Funded Insurance Solution

The self-funded solution is for employers and brokers seeking to lower costs while utilizing modern, innovative benefits shopping and enrollment tools.
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Maestro Health has introduced a modernized approach to the way self-funded insurance has traditionally been offered.

The self-funded solution for employers and brokers seeking to lower costs while utilizing modern, innovative benefits shopping and enrollment tools features Integra Employer Health, a Charlotte, North Carolina-based third-party administrator (TPA), which was acquired by Maestro Health in 2014.

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Maestro Health created maestroEDGE to simplify and personalize how people shop, enroll and live with their benefits. The platform utilizes the key components of employee health and benefits to drive greater cost savings, improve decision-making and care, and increase consumer engagement. The platform’s technology is flexible and modular, allowing clients to go “all-in or à la carte,” with the ability to choose individual components of maestroEDGE without having to implement the entire platform.

The solution modernizes traditional self-funded insurance with the following core features:

  • Modernized Consumer Account Platform: complete FSA, HSA, and HRA capabilities, featuring advanced user experience processes and a high-touch service team with a wealth of experience in providing support for Fortune 100 consumer account programs, as well as multilingual call centers and live online chat;
  • In-house care management: a comprehensive, owned and operated care management solution with a staff of registered nurses, advanced technology and mobile app integration with enhanced UI/UX, and technology to provide more timely treatment of employees in need, including Autotrigger, a system that automatically reviews claims data to flag at-risk members;  and Wellcheck, automated preventative care compliance.
  • Analytics: powered by mBRAIN, the data analytics engine that leverages data from multiple sources to personalize plan recommendations for employees and drive deeper insights for employers, creating a smarter, optimized employee health and benefits experience;
  • Benefits Administration and Compliance: cloud-based onboarding and offboarding along with certified ACA compliance reporting capabilities;
  • Improved employer experience: (me)DASHBOARD: a mobile-friendly, easy-to-use, customizable portal allows employers to easily track and manage enrollment, participation, claims, and costs, heightening control of their benefits strategy; and
  • Improved employee experience: a personalized online enrollment experience puts care at the fingertips of each employee with access to education, nurse coaches, claims, and coverage information whenever and wherever it is needed.

More information is at Maestro Health’s website. 

Compliance March 22, 2016

PBGC Issues Final Annual Reporting Rules

The final rules modify waivers and information requirements to better balance the burden of reporting with PBGC’s need for information, and to make certain technical changes.
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The Pension Benefit Guaranty Corporation (PBGC) is amending its regulation on Annual Financial and Actuarial Information Reporting under the Employee Retirement Income Security Act (ERISA) section 4010 to codify provisions of the Moving Ahead for Progress in the 21st Century Act (MAP-21), the Highway Transportation and Funding Act of 2014 (HATFA) and the Bipartisan Budget Act of 2015.

The final rule modifies the reporting waiver under the current regulation tied to aggregate plan underfunding of $15 million or less to be based on non-stabilized interest rates. The agency explained in its proposed rule that the current regulation does not allow it to access important available information about plans that present substantial risk and exposure to the pension insurance system. The agency is not receiving data in 4010 filings that it would otherwise receive because plans that were never intended to qualify for a regulatory waiver are, in fact, qualifying as a result of MAP-21 and HATFA funding relief.

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In addition, the final rule adds new reporting waivers for smaller plans and for plans that must file solely on the basis of either a statutory lien resulting from missed contributions more than $1 million or outstanding minimum funding waivers exceeding the same amount (provided the missed contributions or applications for minimum funding waivers were previously reported to the PBGC). 

The final rule also provides alternative methods of compliance for reporting certain actuarial information and makes a few technical changes to the regulation.

Text of the final rule is here.

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