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iPMI Magazine successfully rebranded to iPMI Global in 2023 and has moved to a new home on the internet. To visit the brand new international private medical insurance business intelligence platform, please go to www.ipmiglobal.com

Blue Cross and Blue Shield of Minnesota Reports 2014 Results

Blue Cross and Blue Shield of Minnesota and its family of companies (Blue Cross) today announced audited financial results for 2014. Blue Cross closed out the year with net income of $61.5 million, reflecting positive investment portfolio performance that offset slight operational losses. The organization reported a net operating loss of $8.2 million on full-year revenues of $10.1 billion, for a negative operating margin of one-tenth of one percent (0.1%).

Blue Cross reported more than $9.1 billion paid in medical claims for the year, representing 90 cents of every premium dollar collected going directly to cover health care costs. Additionally, Blue Cross paid more than $205 million in taxes, assessments and surcharges for the year. Overall year-end 2014 enrollment of 2.6 million members represents a slight decrease from year-end 2013.

“Our operating performance for 2014 was favorable to projections, amounting to a near break-even year for the organization,” said Michael Guyette, president and CEO of Blue Cross and Blue Shield of Minnesota. “We knew 2014 would be a challenging year, as the market continued to go through significant transition related to health reform. We continue to engage with multiple stakeholders in order to explore ways of bringing additional cost and coverage stability for both the short- and long-term.”

During 2014, Blue Cross celebrated several successes in communities across the state. Among them:

  •     Collaborated with Allina, Entira, Minnesota Community Health Network (MCHN), Northern Health Alliance and Sanford Health in support of innovations that promote advancements in health care affordability and quality.
  •     Opened the company’s first health insurance retail store, where Minnesotans can receive health plan information, service and claims support.
  •     Raised more than $1 million in employee donations through the annual Community Giving Campaign to benefit more than 700 nonprofits statewide.
  •      Supported efforts of Minnesota communities to enhance access to health coverage and improve health, including:

o    Southern Prairie Community Care, an Accountable Community for Health, focused on improving the health of residents of 12 southwestern Minnesota counties.
o    Access to coverage grants, helping low-income Minnesotans enroll in insurance.
o    Act on Alzheimer’s, helping foster dementia-friendly communities.
o    Increasing access to various dental care programs in Mankato, Bemidji, Duluth and Rochester.

Audited results include the consolidated financial statements for businesses operating under Aware Integrated Inc. (AII), a non-profit corporation and parent organization. AII serves as the holding company for all affiliates and subsidiaries, including the following regulated businesses associated with Blue Cross:

Blue Cross and Blue Shield of Minnesota — A nonprofit health insurance company and independent licensee of the Blue Cross and Blue Shield Association.

Blue Plus — A nonprofit health maintenance organization (HMO) that offers health plans and contracted provider networks throughout Minnesota to individuals and local, state and national groups.

SelectAccount — A third-party administrator of medical spending accounts included in consumer-directed health plans throughout the country.

Blue Cross provides all information, reports and audited details as required by the State of Minnesota for both commercial and public program products. Detailed financial statements for the organization’s regulated businesses are filed with the Minnesota Department of Commerce. A consolidated earnings statement for 2014 results is available at https://www.bluecrossmn.com/2014Results.

Blue Cross and Blue Shield of Minnesota, with headquarters in the St. Paul suburb of Eagan, was chartered in 1933 as Minnesota’s first health plan and continues to carry out its charter mission today as a health company: to promote a wider, more economical and timely availability of health services for the people of Minnesota. Blue Cross is a not-for-profit, taxable organization. Blue Cross and Blue Shield of Minnesota is an independent licensee of the Blue Cross and Blue Shield Association, headquartered in Chicago. Go to bluecrossmn.com to learn more about Blue Cross and Blue Shield of Minnesota.

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Most Companies Are Improving Automatic Features In 401(K) Plans To Help Workers Increase Their Savings

Aon Hewitt Survey Finds Most Companies are Improving Automatic Features in 401(k) Plans to Help Workers Increase their Savings.

To improve the long-term financial outlook for workers, a new survey from Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), reveals that the majority of companies now offer automatic features in their 401(k) plans to ensure that workers are saving enough to receive full company matching contributions over time. solutions. According to Aon Hewitt's survey of approximately 100 companies with defined contribution (DC) plans, 29 percent of employers automatically enroll participants in the plan at a savings rate that is at or above the company match threshold.

Another 27 percent of employers automatically enroll individuals below the full match rate, but automatically escalate contributions over time so that workers will eventually be saving enough to receive the full company match.

"In the past, employers automatically enrolled workers into 401(k) plans at low rates and workers often wouldn't increase their contributions enough to reach the full company match—to the detriment of their retirement savings," explained Rob Austin, director of Retirement Research at Aon Hewitt. "Because many employers gauge the success of their plan by the number of workers saving enough to receive the full match, they understand that they need to give workers an added boost by either starting them off at a more robust savings rate or automatically escalating contributions over time up to, or beyond the match threshold. That extra savings can have a remarkable impact on workers' long-term savings outlook."

Aon Hewitt's survey also found: 8 percent of companies automatically enroll participants below the full match threshold and have contribution escalation as an opt-in feature; 70 percent of companies responding to the survey have automatic enrollment;

Among plans with automatic enrollment: 7 percent default above the full company match level; 34 percent have default rates at the full company match level; 59 percent default below the full company match level;

Of companies that have not implemented automatic enrollment: 67 percent cite the increased cost of the match as the biggest barrier; 37 percent are concerned about the reaction from employees; 30 percent do not want small account balances in the plan.

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Protect Yourself Against An Unexpected Cancellation Warns International Travel Assistance And Medical Expert Allianz Global Assistance

Over 90% of travel insurance ‘cancellation’ claims are because of the death, serious injury or serious illness of the policyholder or their travel companion, family member or business associate. Jury service or court witness, burglary/serious damage to home and redundancy account for the remaining 10% of travel insurance cancellation claims.1 in 5 people purchase travel insurance ‘shortly’ before going on holiday.

According to the latest survey from travel insurance provider, Allianz Global Assistance UK, 1 in 5 purchase their holiday insurance less than a fortnight before they are due to set off. This could have disastrous consequences warns Allianz Global Assistance, as travel insurance is essential for protecting holiday makers from the unexpected ‘before’ a holiday, just as much as ‘during’ their holiday.

“Our survey shows that a significant number of people buy travel insurance at the last minute, or worse still, don’t bother at all. This leaves them exposed to all sorts of financial risks, including cancelling the holiday. If you book your holiday some months in advance of going away, and leave it to the last minute to purchase insurance, you run the risk of losing a significant proportion or all of the cost of the holiday if you have to unexpectedly cancel it,” explains Paul Doran, Head of Travel Operations at Allianz Global Assistance in the UK.

“Death, serious injury or illness of you, a loved one or someone associated to your travel plans, is the number one reason for people cancelling holidays, but if you purchase insurance at the time of booking your holiday your insurer will most likely reimburse your costs. We also urge travellers to make a full health declaration to their insurer immediately, to make sure they are covered for cancellation, as well as emergency medical treatment abroad,” continues Paul Doran.

Allianz Global Assistance goes on to advise that anyone buying insurance must declare all existing medical conditions and if they are unsure what to declare or the correct medical name for a condition, they should ask their GP. People must not make a declaration on behalf of a relative, unless they know all the details of their existing medical conditions.

Allianz Global Assistance Travel Insurance Tips

  • Buy a travel insurance policy as soon as you book a trip.
  • Make a full health declaration immediately to your insurer to make sure you are covered for cancellation as well as emergency medical treatment abroad.
  • If you are unsure what medical conditions to declare or the correct medical name of your condition ask your GP.
  • Don’t make a declaration on behalf of a relative unless you are absolutely sure you know all the details of their existing medical conditions.
  • Remember to take a European Health Insurance Card (EHIC) if travelling to Europe.
  • Remember that an EHIC is not a substitute for travel insurance.
  • Don’t take the risk and travel without full travel insurance.
  • Ensure you insurance adequately covers your holiday experience, such as golf, winter sports, water based or other activities.

Paul Doran concludes, “Our message to travellers is: don’t take a risk and travel without full cover. Medical expenses abroad, particularly in the USA, Caribbean, Mexico and parts of Asia, can be extremely expensive, costing more than an entire holiday. For no more than the cost of a family pack of sun tan lotion, holidaymakers can buy travel insurance, offering them protection and support in both the countdown to the holiday and when they are abroad.”

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New Broker Quote Tool Launches For Individual Expatriate Brokers

Individual expatriate insurer launches new online quote tool for global broker community. Easier than ever to generate quotes for clients. Brokers can send quotes to clients without having to leave the tool.

Cigna Global Individual Private Medical Insurance has announced the launch of a new online Broker Quote Tool making it easier than ever before for international health insurance brokers to build and compare quotes for their clients.

The newly designed tool, built in partnership with brokers themselves, enables the user to:

  • Compare up to three side-by-side quotes in seconds
  • Generate indicative pricing with only the essential information needed for a price
  • Use the tool without logins, each broker has their own unique URL link
  • Email quotes to clients directly from the tool in a professional quote pack document containing the broker’s contact details
  • Save and retrieve quotes

The launch is the latest in a line of technology investments from the international insurer which is aiming to become the broker's carrier of choice.

Phil Austin, Head of Global Individual Private Medical Insurance at Cigna said, “We spent time listening to what brokers need when building quotes for clients. The focus has been on developing a tool that is as quick and easy to use as possible, whilst still providing really useful functionality which improves the broker / client journey. I truly believe this tool will be a great asset for international health insurance brokers.”

The Broker Quote Tool is available now for all registered Cigna Global brokers. To register, visit www.cignaglobal.com/Register.

For more information about Cigna Global and how you can start offering international health insurance plans, visit www.cignaglobal.com/intermediaries.

About Cigna Global Health Options

Cigna is a global health service company dedicated to helping people improve their health, well-being and sense of security. As an operating subsidiary, Cigna Global Health Options provides global international health care plans designed for customers who want the flexibility of having easy access to high quality health care around the world.

About Cigna

Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York.

Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and has approximately 80 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.  

 

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Technical Assistance

Technical Assistance

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expat Life. Perhaps you are already established as a Expat living far from home on distant shores. Where ever you are now, understanding Technical Assistance requirements is vital to a safe, risk free Global Expatriate Life. Accidents do happen and when you least expect them.

Insuring you have the right type of Technical Assistance will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient or no medical care.

Expats searching the internet to source, compare and select the best Technical Assistance for Overseas Assignments, Travel Abroad and Student Travel Programs are now covered by International Private Medical Insurance Magazines Online Technical Assistance company and plan guide.

Get the lowdown on who's who and which Technical Assistance companies you should trust with your life. Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about Technical Assistance to individual expatriates, expat groups, expatriate employers and Expat Health Insurance brokers and intermediaries. It is important to fully understand Technical Assistance requirements before you travel and insure you select the right and most appropriate Technical Assistance plan and cover for leisure, business, educational or health travel purposes.

Technical Assistance and Expatriate Healthcare Insurance and Healthcare comes in all shapes and sizes so be sure to do a complete comparison of the Technical Assistance plan, costs and fine print.

Make sure your Technical Assistance plan covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

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Medical Assistance

Medical Assistance

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expat Life. Perhaps you are already established as a Expat living far from home on distant shores. Where ever you are now, understanding Medical assistance requirements is vital to a safe, risk free Global Expatriate Life. Accidents do happen and when you least expect them.

Insuring you have the right type of Medical assistance will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient or no medical care.

Expats searching the internet to source, compare and select the best Medical assistance for Overseas Assignments, Travel Abroad and Student Travel Programs are now covered by International Private Medical Insurance Magazines Online Medical assistance company and plan guide. Get the lowdown on who's who and which Medical assistance companies you should trust with your life. Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about Medical assistance to individual expatriates, expat groups, expatriate employers and Expat Health Insurance brokers and intermediaries.

It is important to fully understand Medical assistance requirements before you travel and insure you select the right and most appropriate Medical assistance plan and cover for leisure, business, educational or health travel purposes. Medical assistance and Expatriate Healthcare Insurance and Healthcare comes in all shapes and sizes so be sure to do a complete comparison of the Medical assistance plan, costs and fine print. Make sure your Medical assistance plan covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

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Roadside Assistance

Roadside Assistance

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expat Life. Perhaps you are already established as a Expat living far from home on distant shores. Where ever you are now, understanding Roadside assistance requirements is vital to a safe, risk free Global Expatriate Life. Accidents do happen and when you least expect them.

Insuring you have the right type of Roadside assistance will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient or no medical care.

Expats searching the internet to source, compare and select the best Roadside assistance for Overseas Assignments, Travel Abroad and Student Travel Programs are now covered by International Private Medical Insurance Magazines Online Roadside assistance company and plan guide. Get the lowdown on who's who and which Roadside assistance companies you should trust with your life.

Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about Roadside assistance to individual expatriates, expat groups, expatriate employers and Expat Health Insurance brokers and intermediaries. It is important to fully understand Roadside assistance requirements before you travel and insure you select the right and most appropriate Roadside assistance plan and cover for leisure, business, educational or health travel purposes.

Roadside assistance comes in all shapes and sizes so be sure to do a complete comparison of the Roadside assistance plan, costs and fine print. Make sure your Roadside assistance plan covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

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Legal Assistance

Legal Assistance

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expat Life. Perhaps you are already established as a Expat living far from home on distant shores.

Where ever you are now, understanding Legal assistance requirements is vital to a safe, risk free Global Expatriate Life. Accidents do happen and when you least expect them.

Insuring you have the right type of Legal assistance will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient or no medical care.

Expats searching the internet to source, compare and select the best Legal assistance for Overseas Assignments, Travel Abroad and Student Travel Programs are now covered by International Private Medical Insurance Magazines Online Legal assistance company and plan guide. Get the lowdown on who's who and which Legal assistance companies you should trust with your life. Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about Legal assistance to individual expatriates, expat groups, expatriate employers and Expat Health Insurance brokers and intermediaries. It is important to fully understand Legal assistance requirements before you travel and insure you select the right and most appropriate Legal assistance plan and cover for leisure, business, educational or health travel purposes.

Legal assistance and Expatriate Healthcare Insurance and Healthcare comes in all shapes and sizes so be sure to do a complete comparison of the Legal assistance plan, costs and fine print. Make sure your Legal assistance plan covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

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International Assistance

International Assistance

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expat Life. Perhaps you are already established as a Expatriate living far from home on distant shores. Where ever you are now, understanding International Assistance requirements is vital to a safe, risk free Global Expatriate Life. Accidents do happen and when you least expect them.

Insuring you have the right type of International Assistance will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient or no medical care.

Expats searching the internet to source, compare and select the best International Assistance for Overseas Assignments, Travel Abroad and Student Travel Programs are now covered by International Private Medical Insurance Magazines Online International Assistance company and plan guide. Get the lowdown on who's who and which International Assistance companies you should trust with your life.

Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about International Assistance to individual expatriates, expat groups, expatriate employers and Expat Health Insurance brokers and intermediaries. It is important to fully understand Travel Assistance requirements before you travel and insure you select the right and most appropriate Travel Assistance plan and cover for leisure, business, educational or health travel purposes.

International Assistance comes in all shapes and sizes so be sure to do a complete comparison of the International Assistance plan, costs and fine print. Make sure your International Assistance plan covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

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Travel Assistance

Travel Assistance

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expat Life. Perhaps you are already established as a Expat living far from home on distant shores. Where ever you are now, understanding Travel Assistance requirements is vital to a safe, risk free Global Expatriate Life. Accidents do happen and when you least expect them.

Insuring you have the right type of Travel Assistance will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient or no medical care.

Expats searching the internet to source, compare and select the best Travel Assistance for Overseas Assignments, Travel Abroad and Student Travel Programs are now covered by International Private Medical Insurance Magazines Online Travel Assistance company and plan guide. Get the lowdown on who's who and which Travel Assistance companies you should trust with your life.

Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about Travel Assistance to individual expatriates, expat groups, expatriate employers and Expat Health Insurance brokers and intermediaries. It is important to fully understand Travel Assistance requirements before you travel and insure you select the right and most appropriate Travel Assistance plan and cover for leisure, business, educational or health travel purposes.

Travel Assistance and Expatriate Healthcare Insurance and Healthcare comes in all shapes and sizes so be sure to do a complete comparison of the Travel Assistance plan, costs and fine print. Make sure your Travel Assistance plan covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

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