Daily Insurance Report  
Walt Bernard Podgurski,  Editor,  440-773-1108, 

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Editorial Mission Statement: The goal of this publication is to provide readers a broad selection of what is being written about the insurance industry and related issues. Some articles may have a “tilt” towards a particular perspective one way or another. Inclusion in this newsletter is not an endorsement of any views or content; but report the various and differing views appearing in media.
  Tuesday, 12/18/18 - www.DailyInsuranceReport.com

The "Daily Insurance Report" is now subscribed to by almost 25,000 elite insurance industry influencers who receive it Monday - Friday at 5:05 am EDT, and have a quick overview of what is appearing in the media regarding the insurance industry; with an emphasis on life, health, and employee benefits.

2019 Open Enrollment is over, but you may still have options

If you missed the Open Enrollment deadline and didn’t enroll in 2019 Marketplace health insurance, you may still be able to get coverage for 2019 two ways:

Enroll in or change 2019 plans with a Special Enrollment Period

If you experience certain life changes, like losing health coverage, getting married, or having a baby, you may be eligible for a Special Enrollment Period.
This means you may be able to sign up for health insurance at other times during the year.

See the full list of life events that may qualify you for a Special Enrollment Period.

Apply for Medicaid or the Children’s Health Insurance Program (CHIP) any time of year

Medicaid and CHIP provide free or low-cost health coverage to millions of Americans, including some people with limited income, families and children, pregnant women, the elderly, and people with disabilities.

If you qualify, your coverage can start right away, any time of year.

2019 Industry Insights Conference
January 24 - 27
Margaritaville, Hollywood, FL

Declining benefits top of minds for advisers in 2018
Nick Otto / Employee Benefit Adviser

From popular perks to healthcare challenges, benefit brokers must remain in the know for the myriad issues impacting employers. These popular lists compiled over the year contain key data points that can help when advising clients on trends in benefits management.

In addition, Employee Benefit Adviser partnered with data analytics firm miEdge to compile some of the best insurance carriers across different offerings.

Below, we compiled the most popular lists of 2018 based on page views.

10. 2018 Top Women in Benefit Advising
9. The top 25 large-group disability carriers in the US
8. Top 25 large-group life insurance companies
7. Top 25 voluntary carriers
6. 29 jobs with the best work-life balance
5. 2018 Rising Stars in Advising
4. 11 benefits that tempt workers to leave
3. Top 10 health conditions costing employers the most
2. 15 employee benefits on the decline
1. 10 worst states for healthcare

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Aetna, Oscar fined in violation of insurance laws
Morgan Haefner / Becker's hospital review

Health insurers Aetna and Oscar signed consent orders totaling more than $2.5 million to resolve allegations they violated New York insurance laws.

The state's Department of Financial Services claimed Aetna failed to acknowledge and respond to members' complaints within required time frames. The department also said Aetna failed to make preauthorizations. The health insurer agreed to pay a $1.95 million civil penalty to resolve the allegations.

Oscar agreed to pay $576,950 to resolve allegations it failed to follow utilization review deadlines. The department also said Oscar failed to include detailed explanations of denials.

How was Open Enrollment?

We’re interested in hearing how this open enrollment went and what you’d like to improve in 2019.

If you’re looking for a platform that has better partners, full HCM and payroll integration, and all the tools employees need to make the right benefits decisions, we’re here to talk!

Continue the Discussion!
Burk Meyrose: 877-735-0468; burk.meyrose@plansource.com  

Robo Advisors Rev Up in the 401k Space
John Sullivan / 401(k) Specialist

Is the so-called smart money backing low fee 401k providers with a fully-automated slant?

It would appear so, as news broke of Guideline’s latest venture capital funding (series c round), a $35 million infusion from new investor Tiger Global Management, as well as existing investors Felicis Ventures and Propel Ventures. Total financing is now at $59 million.

The tech-based platform claims low fees and flat-rates for participants and employers, fueling debates over the interest and efficacy of robo advisors, or providers of investment management and financial advice involving digitally-developed algorithms.

The brainchild of Guideline CEO Kevin Busque, his disillusionment with high 401k fees after he cofounded freelance job site TaskRabbit lead to his latest idea, according to Forbes.

“Today the 100-person startup offers 401k plans to small businesses for a $500 setup fee and $8 per employee per month,” it notes. “The monthly rate, paid by employers, is all-inclusive—companies don’t have to pay separate charges often levied by 401k providers for services like record-keeping and administration.”

Employee Benefits Administration Company, Clarity, Offers Tips for Creating a Holistic Benefits Plan to Attract Top Talent in the New Year

With unemployment at historic lows, employers need to separate themselves from their competition to attract and retain the best of the best in new hires. One way employees can master this endeavor is to offer a strong total compensation package, of which benefits are a major component. Today's younger potential employees are razor-focused on their physical and emotional well-being, so offering holistic benefits is a surefire way to secure the brightest new hires. Designing a plan that will appeal to the entire workforce is an added bonus.

The first step in developing a holistic benefits plan is to identify and analyze those benefits potential employees may desire the most. A top priority should be retirement planning—no matter what the age of the employee. Help employees maximize their retirement savings via 401(k)s, profit sharing, or Roth 401(k)s. Make sure to provide opportunities for employees to meet with financial advisors to explore all investment as well as retirement portfolio management options.

Prima Solutions and Effisoft Announce Their Merger to Bolster Global Leadership in Providing Insurance Solutions

PARIS, France - December 17, 2018– As part of their continuing growth strategies, Prima Solutions and Effisoft today announce their merger to create a major global InsureTech company. This merger between Effisoft, the leading vendor of reinsurance and regulatory software solutions for insurance and reinsurance companies across the globe, and Prima Solutions, one of Europe’s leading software provider for Life, Health, and Property & Casualty insurance companies, will produce one of the largest and most comprehensive players in Europe, North America, and the Asia-Pacific region with cloud-based solutions covering all areas of the insurance market.

This merger, formally concluded on December 13, will enable both groups to accelerate their development in the property and casualty, health and personal protection insurance markets, sectors in strong demand for technological innovation. This merger is part of an ambitious and coherent growth strategy: it completes Prima Solutions' and Effisoft's existing product range, diversifies the customer base and strengthens the group's international positioning. The group now offers a complete end-to-end solution for insurance and reinsurance companies and counts in excess of 300 insurance companies as clients.


Allianz Life Ventures and SixThirty have formed a strategic partnership to support InsurTech and FinTech startups.

This new multi-year deal will permit Allianz Life Ventures to mentor SixThirty portfolio companies, build networking opportunities and help with strategic planning. In exchange, these startups will gain access to Allianz’s expertise, financial resources and global partner network.

Part of this partnership includes Allianz Life vice president Brian Muench join the investment committee of SixThirty.

Missouri-based venture investor SixThirty backs between eight and 12 early-stage startups a year, from around the world. Alongside funding, companies receive mentorship, collaboration and networking. The firm has invested into 44 companies, to date.


Monday, 12/17/18 - Federal judge rules Obama's health care overhaul unconstitutional

Tuesday, 12/11/18 - Even among the insured, cost of illness can be devastating, Harvard-backed poll finds

Wednesday, 12/12/18 - Short-term plans and no penalty highlight Obamacare sign-up period

Thursday, 12/13/18 - Enhanced Direct Enrollment Pathway for Health Insurance Exchange Coverage

Friday, 12/14/18 - Millions of Uninsured People Could Get $0 Premium Obamacare Health Insurance—With a Catch

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Walt Bernard Podgurski - - Editor