THE LATEST IN MEDICARE TELEHEALTH BILLING

THE LATEST IN MEDICARE TELEHEALTH BILLING

THE LATEST IN MEDICARE TELEHEALTH BILLING

By: Center for Connected Health Policy

Last month the Centers for Medicare and Medicaid Services (CMS) released an updated Telehealth Services Medicare Learning Network (MLN) Fact Sheet reflecting new information for 2024. Most of the guidance remains unchanged and updates largely focus around incorporating already adopted policies from the Consolidated Appropriations Act, 2023 (CAA 2023) and CY 2024 Physician Fee Schedule (PFS) Final Rule. However, the document serves to assist providers struggling to keep up with shifting billing rules and offers the potential to clarify outstanding reimbursement issues as well as provide a reminder of current Medicare telehealth policies.

The CMS Fact Sheet also describes general telehealth coverage rules and provides background on pre-COVID-19 Public Health Emergency (PHE) policy in addition to extended PHE flexibilities. For instance, it describes permanent laws that limit eligible originating sites and distant site providers while clarifying that through December 31, 2024, such restrictions are waived. Currently, due to extended PHE flexibilities, patients can receive services wherever they are located and all providers who are eligible to bill Medicare can provide distant site telehealth. In addition, while Medicare typically only covers live video telehealth, there are ongoing allowances for audio-only in some instances.

Where Medicare billing for telehealth services gets most complicated is in regard to specific payment rules and coding requirements. Reimbursement questions are what CCHP receives frequently from providers, as billing policies vary depending on the type of provider and service provided, making application of the rules different in various circumstances. For instance, the CMS Fact Sheet includes updated information related to telehealth modifiers and Place of Service (POS) codes that commonly are the subject of the billing questions received by CCHP. Some of the updated information most helpful to highlight relate to different guidance for hospitals and non-hospital-based providers. The use of modifier 95 is being extended in the updated guidance but only when the clinician is in the hospital and the patient is in the home, as well as for outpatient therapy services provided via telehealth by qualified physical therapists (PTs), occupational therapists (OTs), or speech language pathologists (SLPs) through December 31, 2024. As noted in the Fact Sheet, hospitals and other providers of PT, OT, SLP, diabetes self-management training (DSMT) and medical nutrition therapy (MNT) services that remain on the Medicare telehealth services list may continue to bill for these services when provided remotely in the same way they’ve been during the PHE, except that:

  • For outpatient hospitals, patients’ homes no longer need to be registered as provider-based entities to allow for hospitals to bill for these services
  • The 95 modifier is required on claims from all providers, except for Critical Access Hospitals (CAHs) electing Method II, as soon as hospitals needing to do so can update their systems

For non-hospital-based providers, the updated Fact Sheet information states providers should also continue billing telehealth claims with the POS indicator used for an in-person visit and, starting January 1, 2024, use:

  • POS 02-Telehealth to indicate you provided the billed service as a professional telehealth service when the originating site is other than the patient’s home
  • POS 10-Telehealth for services when the patient is in their home

One additional issue connected to this new POS guidance has become apparent. As recently reported by Noridian, a Medicare Administrative Contractor (MAC), despite CMS previously stating that POS 10 would receive the higher non-facility rate when billed (see CMS 2024 PFS, CMS 2024 PFS MLN, and CCHP’s 2024 PFS Fact Sheet for more information), it appears CMS has instead been reimbursing at the lower facility rate so far this year. CCHP has received several inquiries on the subject and has reached out to CMS for clarification, with no new guidance provided as of yet. As also noted in the Noridian article, it is understood that CMS is aware of the issue and currently looking further into it. CCHP will provide more updates and additional clarifications on Medicare telehealth billing issues once new information is received.

Other updates in the latest version of the Fact Sheet include:

  • New codes added to the Medicare telehealth services list
    • CPT codes 0591T – 0593T for health and well-being coaching services, added on a temporary basis
    • HCPCS code G0136 for Social Determinants of Health Risk Assessment, added on a permanent basis
  • Other CAA 2023/CY 2024 PFS additions, such as:
    • Continuing payment for telehealth services rural health clinics (RHCs) and federally qualified health centers (FQHCs) provided using the methodology established for those telehealth services during the PHE
    • Delaying mental health telehealth and RHC/FQHC in-person requirements
    • Allowing teaching physicians to use audio or video real-time communications technology in all residency training locations through the end of CY 2024
    • Removing frequency limitations in 2024 for subsequent inpatient visits, subsequent nursing facility visits, critical care consultation
  • CY 2024 Originating site facility fee amount – HCPCS Code Q3014 describes the Medicare telehealth originating sites facility fee. Bill MAC for the separately billable Part B originating site facility fee. The payment amount for HCPCS code Q3014 (Telehealth originating site facility fee) is 80% of the lesser of the actual charge ($29.96 for CY 2024 services)

Other items covered in the Fact Sheet include:

  • Through December 31, 2024, you may use telehealth to conduct hospice care eligibility recertification
  • CMS has extended the Acute Hospital Care at Home Program, which heavily relies on telehealth for hospitals to provide inpatient services, including routine services, outside the hospital
  • Telehealth Home Health information – G-Codes indicating use of telehealth technology in providing home health services
  • General billing rules regarding billing covered telehealth to Medicare Administrative Contractors (MACs)
  • Consent for care management and virtual communication services requirements

For additional Medicare telehealth billing information, please view the following resources:

As always, federal telehealth information can be found on CCHP’s online policy finder, in the federal section. As we move forward, CCHP will continue to keep readers updated on the latest in Medicare telehealth billing.

SOURCE: (Center for Connected Health Policy, personal communication, March 5, 2024) 

Networking Extravaganza at Sheraton Grande Wild Horse Pass in Phoenix, AZ

Phoenix, AZ 1/25/2024 – The Health & Voluntary Benefits Association® (HVBA) is thrilled to announce an exclusive networking event at the beautiful Sheraton Grande Wild Horse Pass in Phoenix, AZ. This event promises an unparalleled opportunity for professionals to connect, learn, and build meaningful relationships while enjoying the gorgeous landscape that Arizona has to offer.

The event starts with Registration, followed by two Continuing Education (CE) sessions at 2:30 PM, designed to provide valuable legalities insights and updates related to legislation for LTC, ERISA, and the CAA. These sessions will be led by experts, offering a chance for attendees to understand and plan for their compliance reporting starting at the beginning of the year. The last thing any employer or insurance professional would want is to have to go back and review data, which could take weeks to decipher and save a ton of time.

The day concludes with our upscale Benefits Networking Roadshow after the educational sessions. This segment is tailored for professionals engaging in meaningful conversations, sharing experiences, and exploring potential collaborations. The Benefits Networking Roadshow provides a unique platform for participants to strengthen their professional network and discover new opportunities. The team at HVBA will be there the whole time to help you meet the people who can be great prospects and new clients for our members.

Event Details:

  • Date: Thursday, March 7, 2024
  • Time: 2:00 PM – 8:00 PM
  • Venue: Sheraton Grande Wild Horse Pass, Phoenix, AZ

“We are excited to bring together professionals for another successful face-to-face event. This networking event is an opportunity to learn from industry experts and a platform to foster connections that can lead to future collaborations,” said Rob Shestack, Chairman & CEO of the HVBA, “Also we are hitting the road in 2024 with pitstops in Phoenix, AZ, Dallas, TX, Nashville, TN, and Atlantic City, NJ. We invite our members and corporate sponsors to join us for an amazing tour in the US with the Health & Voluntary Benefits Association® (HVBA) Team!”

Take advantage of this chance to participate in an event combining education, networking, and an upscale networking experience. Secure your spot today and be prepared for an enriching day at the Sheraton Grande Wild Horse Pass.


For registration and more information, please visit: https://hvba-benefits-roadshow-az.eventbrite.com


About Health & Voluntary Benefits Association® (HVBA) 
The Health & Voluntary Benefits Association® (HVBA) is the first national non-profit trade association focused on Voluntary Benefits for employer groups and affinity groups. We aim to promote the education, implementation, and enrollment of healthcare and voluntary benefits in the workplace.


For Media Inquiries: 
Jenny Jenkins
Senior Vice President of Operations
jjenkins@vbassociation.com

The Health & Voluntary Benefits Association® (HVBA is committed to providing opportunities for professionals to grow and connect. Pitstops for 2024 include Phoenix, AZ; Dallas, TX; Nashville, TN; and Atlantic City, NJ.

Unlock 2024’s Fiduciary Secrets: Master CAA & ERISA with HVBA & NIH Today!

The Health & Voluntary Benefits Association® (HVBA) in partnership with National Integrative Health is bringing you critical information for preparing for the end-of-year health plan reporting as well as a detailed look ahead in 2024 and early litigation activity against plan sponsors and employers.

You will receive:

  • Crucial Insights: Delve deep into impending reporting deadlines at the end of the year, bringing you the latest legal compliance for plan sponsors. The Health & Voluntary Benefits Association® (HVBA) is committed to helping our members stay ahead in the ever-changing legislative and regulatory landscape.
  • Fiduciary Health Plan Consultant: Join Jake Velie, Vice Chairman, President & COO of HVBA and Chairman and CEO of National Integrative Health, as he provides a comprehensive and professional exploration of key legislation and regulatory requirements for plan sponsors including the Consolidated Appropriations Act (CAA), the Employee Retirement Income Security Act (ERISA), and relevant Internal Revenue Code provisions.
  • Impact Analysis: Gain valuable insights into these legislative changes’ direct impact on the financial and employment sectors as well as the momentum building in related lawsuits.
  • Don’t Miss Out: Seize this critical opportunity to garner expert knowledge on action plans your health plans must take now to avoid the impending litigation efforts and audits by the Federal Government!

Event Details:

  • Webinar: Critical CAA and ERISA Updates
  • Date: Wednesday, January 31, 2024
  • Time: 12:00 PM EST | 9:00 AM PST
  • Cost: No cost to attend | Advanced Registration Required

Register Today!

Moderator
Rob Shestack, CCSS, CVBS, CFF
Chairman & CEO
Health & Voluntary Benefits Association® (HVBA)

Speaker
Jake Velie, CPT
Vice Chairman, President & COO
Health & Voluntary Benefits Association® (HVBA)


About the Health & Voluntary Benefits Association® (HVBA) | Health & Voluntary Benefits Institute® (HVBI)

The Health & Voluntary Benefits Association® (HVBA) and the Health and Voluntary Benefits Institute® (HVBI) are leading providers of comprehensive employee benefits solutions, compliance consulting, product development and industry certifications. With a commitment to innovation and excellence, HVBA & HBVI strives to empower employers and brokers with the tools they need to navigate the evolving landscape of healthcare and voluntary benefits. Through the Health & Voluntary Benefits Association® (HVBA) and the Health & Voluntary Benefits Institute® (HVBI), we are dedicated to advancing industry knowledge and promoting best practices for the benefit of all stakeholders. 

Visit vbassociation.com.

Health & Voluntary Benefits Association® (HVBA) and Health & Voluntary Benefits Institute® (HVBI) Unveiled as the New Names for the Voluntary Benefits Association® (VBA)

Mt. Laurel, NJ – December 31, 2023 – In a strategic move to better reflect the evolving landscape of employee benefits, the Voluntary Benefits Association® (VBA) is excited to announce its name change to the Health & Voluntary Benefits Association® (HVBA). Expanding the VBA’s focus on Healthcare and Health Benefits, as well as Voluntary Benefits, the HVBA developed the Health & Voluntary Benefits Institute® (HVBI) to focus on industry data, fiduciary consulting, health plan analytics and the launch of a first of its kind Group Purchasing Organization (“GPO”).

The decision to incorporate “Health” into our name is in direct response to the overwhelming demand we have had from industry stakeholders to help them develop solutions that leverage the power of Voluntary Benefits while integrating core Health Benefits and the clinical solutions that complement them to meet the rapidly evolving needs of both employers and employees and the carriers and consultants that serve them. Over the past five years, and as Healthcare has become increasingly unaffordable, the previous separation between Voluntary and Health Benefits has been replaced by a marketplace that requires them to be offered in a cohesive and integrated fashion to meet today’s challenges.

Jake Velie, Vice Chairman, President, and COO of HVBA and HVBI, and Chairman and CEO of National Integrative Health, emphasized the significance of this shift, stating, “The Benefits Industries are converging, and we are committed to developing the next generation of solutions with our world-class carriers and service providers for the brokers, consultants and the groups they serve. Our organization is leading this trend and will release numerous new resources and solutions for our members, both individual and corporate, to grow their businesses by solving the most pressing problems facing employees. We are passionate about protecting and strengthening the households of America while also protecting and strengthening the companies and associations that serve them.”

One of the driving forces behind this change is our collaboration among carriers nationwide to create innovative offerings that seamlessly integrate health and voluntary benefits. The focus is no longer only on traditional voluntary offerings but also on how they work together with core health benefits and the shift towards more customized and self-directed plan designs. As healthcare costs continue to rise and with deductibles and out-of-pocket expenses becoming increasingly burdensome, employees find it more and more challenging to access affordable care without the support of other benefits to help pay for these services.

Rob Shestack, Chairman and CEO of HVBA and HVBI, explained, “Voluntary Benefits play a crucial role in bridging the gap by providing ancillary coverages for employees and offering protection against the financial strain that healthcare expenses can impose on families. In a world where out-of-pocket costs can range from $3,000 to $16,000 for a family, voluntary benefits act as an affordable safety net, ensuring that employees can still care for themselves and protect their savings even with skyrocketing healthcare costs.”

The convergence of health and voluntary benefits into one comprehensive offering reflects the commitment of HVBA to safeguarding the health and financial well-being of employees and employers. This strategic evolution aligns with the organization’s mission to provide affordable and impactful solutions that meet the ever-changing needs of the workforce.

For media inquiries, please contact:

Sarah Hunt

Senior Vice President of Administration

Health & Voluntary Benefits Association® (HVBA)

Health & Voluntary Benefits Institute® (HVBI) 

shunt@vbassociation.com

ABOUT

Health & Voluntary Benefits Association® (HVBA) | Health & Voluntary Benefits Institute® (HVBI)

The Health & Voluntary Benefits Association® (HVBA) and the Health and Voluntary Benefits Institute® (HVBI) are leading providers of comprehensive employee benefits solutions, compliance consulting, product development and industry certifications. With a commitment to innovation and excellence, HVBA & HBVI strives to empower employers and brokers with the tools they need to navigate the evolving landscape of healthcare and voluntary benefits. Through the Health & Voluntary Benefits Association® (HVBA) and the Health & Voluntary Benefits Institute® (HVBI), we are dedicated to advancing industry knowledge and promoting best practices for the benefit of all stakeholders.

Health & Voluntary Benefits Association® (HVBA) Celebrates Leadership at 16th Annual Board Meeting and Benefits Roadshow in Atlantic City

Atlantic City, NJ – November 17, 2023 – The Health & Voluntary Benefits Association® (HVBA) concluded its 16th Annual Board Meeting and Benefits Broker Roadshow in Atlantic City on November 16, 2023. The event was marked by strategic planning sessions to enhance member and corporate partner experiences, showcasing a commitment to staying at the forefront of the industry.

The meeting provided a dynamic platform for exchanging innovative ideas, fostering collaboration, and unparalleled business networking opportunities that left attendees enthused about the Association’s future direction. The HVBA remains a trailblazer in the health and voluntary benefits sector, primarily focusing on delivering the latest and most up-to-date information and resources to its followers while connecting its community through networking and innovative partnerships.

Among the event’s highlights were the acknowledgments and honors awarded to outstanding partners and board members who have pivotal roles in elevating the Association’s stature and creating valuable experiences for current and future members.

The Health & Voluntary Benefits Association® (HVBA) is pleased to recognize the following professionals for their exceptional contributions during 2023:

Rob Shestack, Chairman & CEO of the HVBA, praises these award recipients: “These outstanding individuals have significantly contributed to the growth of HVBA in 2023, paving the way for increased collaboration and networking opportunities for members, corporate sponsors, and partners alike. A special congratulations to Dan Robinson for being inducted into the HVBA Hall of Fame, joining an elite group of industry professionals.”

As we reflect on the successes of 2023, the Health & Voluntary Benefits Association® (HVBA) is enthusiastic about the prospects that 2024 holds. We look forward to continuing our commitment to excellence and honoring the hardworking board and team members in the future.

Learn more about HVBA’s Annual Leadership Awards including past recipients, eligibility, and award sponsorship opportunities click here.

For more information about the Health & Voluntary Benefits Association® (HVBA) and its initiatives, please visit www.vbassociation.com.

About Health & Voluntary Benefits Association® (HVBA): The Health & Voluntary Benefits Association® (HVBA) is a leading organization that provides valuable resources, networking opportunities, and the latest information in the voluntary benefits sector. Comprised of a diverse group of professionals, the association is committed to elevating industry standards and fostering collaboration among its members, corporate sponsors, and partners.

Press Contact:
Jenny Jenkins
Senior Vice President of Operations
jjenkins@vbassociation.com

HVBA ends 2023 with their 16th Annual Board Meeting and 4th Benefits Roadshow

[Atlantic City, NJ, 20 November 2023] — The Health & Voluntary Benefits Association® (HVBA) invited over 100+ industry leading VIP’s for another successful benefits roadshow. Kicking off the 1-day event, the HVBA conducted their 16th Annual HVBA Board Meeting with directors from both the HVBA’s Executive and Advisory Boards. This year, we celebrated what has now become an annual event everyone anticipates attending. Beginning with our annual board meeting, followed by insurance continuing education credits and ending the day with our HVBA Benefits Roadshow, the 4th in 2023! The event was limited to 100 professionals and we had a waiting list of more than 25.

Each participant had the opportunity to witness firsthand the success achieved through the hard work and support of the association’s dedicated benefits community, HVBA board members and our sponsors.

In 2023, the HVBA underwent significant developments, commencing with the acquisition of Walt Podgurski’s Daily Insurance Report & Newsletter (“DIR”). The addition of new DIR advertisers and sponsors, a substantial increase in memberships, four roadshows, new technology & automation, and the expansion of full-time employees were notable highlights.

The HVBA implemented several strategic initiatives throughout the year, demonstrating its commitment to growth and innovation. The DIR readership experienced double-digit growth, yielding over 17,000 subscribers supported by a robust online presence with 10,000+ LinkedIn and social media followers. The HVBA effectively engaged individuals across various roles within the Voluntary Benefits industry, such as carrier representatives, insurance brokers & consultants, human resource executives and third party administrators. 

In 2023, the HVBA welcomed several industry leaders to its advisory board, including Don Cahalan, Bill Bade, Neil Mammele, Tom Mckiernan, Amy Mansfield-Nelli, Karen Gathercole, and Joe Garcia. The Chairman of the Board appointed new officers: Lee Stokes assumed the role of President of the HVBA Executive Board, Dan Robinson was elevated to President of the HVBA Advisory Board, joined by Don Cahalan as 2nd Vice President and Dennis Connor as 1st Vice President. Jake Velie took on a strategic and operational role as the HVBA’s President and COO, while Sarah Hunt and Jenny Jenkins were promoted to SVP of Administration and SVP of Operations, respectively.

Over the past year, voluntary benefits have maintained their status as one of the fastest-growing segments in the insurance industry. With employers continuing to shift more costs to employees, while facing talent acquisition and retention challenges, the demand for voluntary benefits is expected to grow substantially in the coming years. The HVBA remains a cornerstone for product information, networking, industry data and analytics, new technologies, and regulatory insights at both state and federal levels.

As the voluntary benefits industry evolves, marked by the design of new benefit programs, technological innovations, and the mainstream adoption of artificial intelligence, the HVBA expresses appreciation for the collective efforts of their membership, sponsors and directors that continue to contribute to the industry’s growth.

The HVBA extends a thank you to participants for attending their 2023 Roadshows and networking events. Since 2008, the organization has played a pivotal role in aiding tens of thousands of brokers, consultants, carrier representatives, and HR professionals to understand the intricacies of the voluntary benefits industry. From LA to Philly and Miami to Boston, the HVBA has established a significant footprint across the US.

Looking ahead, the HVBA is set to introduce new and enhanced individual/corporate memberships and new member benefits, reaffirming its commitment to providing members with intellectual capital and valuable insights. In 2024, the HVBA Roadshows will have stops in Scottsdale, Nashville, Dallas and Philadelphia.

Robert S. Shestack, Chairman & CEO of the HVBA, expresses eagerness to lead the organization’s unparalleled journey as it continues to help grow the benefits industry.

For further information, please contact:

Jenny Jenkins
Health & Voluntary Benefits Association® (HVBA)
Jenny@voluntarybenefits.org
856-326-5247

5Star Life Insurance Company Announces New Venture with Paylogix

Partnership targets an enhanced customer experience with integrated HR solutions

ALEXANDRIA, VA – 5Star Life Insurance Company (5Star Life) announced today a new technology-based integration, through the Paylogix Tailored Market Solution, which provides 5Star Life’s customers, agents, and brokers a seamless enrollment and payment experience.

“This collaboration effort with Paylogix underscores 5Star Life’s commitment to innovation and provides customers with best-in-class administrative and end-consumer resources that are an ideal complement to our mission to provide industry-leading service and engagement experiences,“ said Sal Campanile, 5Star Life’s Vice President, Worksite Voluntary Benefit and Group Sales.

The Paylogix Tailored Market Solution simplifies voluntary benefit administration offering quick case set up, a comprehensive online enrollment site, easy case submission process, and a user-friendly online portal to support enrollment, ongoing eligibility management, and billing. This bespoke end-to-end solution adds efficiency and an enhanced digital customer experience to traditional insurer administrative systems.

“The partnership with 5Star Life exemplifies how technology-focused solutions which are standardized, automated, and simplified for providers, brokers, and end-users are critical to the success of voluntary benefits administration,” said Richard Pfadenhauer, CISSP, President & Founder of Paylogix.

About 5Star Life

5Star Life Insurance Company (5Star Life) is the life insurance underwriter of the Armed Forces Benefit Association (AFBA) member benefits and a growing provider of group and worksite voluntary insurance products. Its business model enables 5Star Life to serve the needs of a diverse clientele as an insurance provider to individuals and organizations and as a trusted partner to brokers. Headquartered in Alexandria, VA, 5Star Life is currently licensed in 49 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam. 5Star Life was awarded on the Forbes World’s Best Insurance Companies 2023 list.

About Paylogix

Paylogix®, a third-party administrator, creates premium technology solutions that make voluntary benefits administration simpler and more secure, while delivering a better user experience. Paylogix serves as a trusted partner to benefit providers, brokers, and employers. Our thoughtfully designed tools to facilitate enrollment through billing and payment are automated, innovative, and secure to provide users with the data they need, when they need it.

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Health & Voluntary Benefits Association’s Benefits Roadshow: Showcasing Innovation and Collaboration at The Rooftop on the Wit in the beautiful city of Chicago

Chicago, Ill, 07/13/2023 – An exciting event, dedicated to fostering innovation and collaboration, was held at the Rooftop on the Wit on July 13, 2023. This highly anticipated gathering brought together industry leaders, professionals, and enthusiasts in a dynamic environment, providing a platform for networking, knowledge sharing, and celebration.

The event kicked off at 5:00 PM with the arrival and registration of esteemed guests. Upon checking in at the registration area, attendees were greeted with a warm welcome as they embark on an evening of discovery and connection with spectacular city lights views.

At 5:30 PM, the Chairman & CEO, Rob Shestack, took center stage alongside our Event Committee Chair Dan Robinson, to deliver an engaging welcome address, setting the tone for an eventful evening. With great enthusiasm, the Chairman & CEO provided an overview of the event, highlighting the exciting activities and opportunities that lie ahead. Attendees were encouraged to mingle, network, and immerse themselves in the vibrant atmosphere, creating lasting connections and sparking new collaborations.

A highlight of the agenda included a captivating presentation by Wayne Goshkarian, CEO of Dylan Consulting from 6:00 PM to 6:15 PM. As Wayne from Dylan Consulting took the spotlight, he shared their expertise and insights, captivating the audience with their innovative ideas. Following the presentation, attendees had the opportunity to participate in a stimulating question-and-answer session, fueling intellectual exchange and fostering a spirit of curiosity.

The event continued to showcase gratitude and recognition, as the first sponsor is celebrated at 6:15 PM. The audience witnessed the announcement of the lucky winner of an exclusive $500 giveaway, courtesy of the generous sponsor. This moment of appreciation serves as a reminder of the collaborative spirit that drives the event.

Furthermore, attendees were honored to meet the esteemed board members, introduced by the Chairman & CEO, Rob Shestack. This networking opportunity allows guests to engage directly with board members, seek their guidance, and gain valuable insights into the mission and vision of the Health & Voluntary Benefits Association (HVBA). The Chairman & CEO also extended heartfelt thanks to the event’s sponsors, including Triada, PlanSource, Pets Benefits Solution, and Dylan Consulting, whose support has contributed to the success of this extraordinary gathering.

At 7:00 PM, the stage was handed over to Amy Crane, Vice President for Pets Benefits Solutions, who captivated the audience with a 10-minute presentation all about how our pets are more than pets, they are family and how Pet Benefits Solution provides a variety of health and wellness plans to accommodate employee’s pet’s and to save money on healthcare for your prized possessions. Their expertise in the field was on full display, providing valuable knowledge and sparking discussions. Following the presentation, attendees had the opportunity to participate in an engaging question-and-answer session. Pets Benefits Solutions further delighted guests with an exclusive giveaway, offering a chance to win a weekend night’s stay for two at The Ben in West Palm Beach, including breakfast. Additionally, their sponsorship extends to the enticing Mudslide Bulldog or the Tropical Parrot specialty drink, adding an extra delight to the event.

The excitement continued as 7:15 PM approached, with additional giveaways being distributed among the attendees. A delightful invitation will also be extended to indulge in mouthwatering desserts and coffee, graciously sponsored by PlanSource. This gesture of appreciation recognizes the importance of all the venue and food sponsors who have contributed to making this event an unforgettable experience.

As the clock strikes 8:00 PM, the event ended, marking the end of a remarkable evening filled with knowledge, networking, and celebration. Attendees departed at their leisure, carrying with them newfound connections, inspiration, and a renewed sense of community, many joining our board of advisors for an after-event libation and continued conversations.

The HVBA will host our exclusive Board Meeting in Atlantic City, NJ in the third week of April and will include another Benefits Roadshow Networking Event to end the day in style. Attendees will immerse themselves in an evening of innovation, collaboration, and opportunity. This is an event you don’t want to miss! Be on the lookout for the invitation to this exclusive opportunity.

 

For media inquiries, please contact:

Jenny Jenkins
Senior Vice President of Operations
jenny@voluntarybenefits.org
mobile: 561-398-1060

About the Health & Voluntary Benefits Association

The Health & Voluntary Benefits Association is the first national non-profit trade association focused on Voluntary Benefits for employer groups and affinity groups. Our goal is to promote the education, implementation, and enrollment of Voluntary Benefits in the workplace.

Rosen Advisory to Present M&A Education at NABIP’s National Convention

 

Brett Rosen, Principal of Rosen Advisory, will be presenting “Intentional Perpetuation” at NABIP’s National Conference being held June 24-28th in New Orleans as part of NABIP’s ongoing commitment to providing M&A education to NABIP members.

Brett will be leading two M&A focused sessions at the conference.

The first session is entitled “Intentional Perpetuation” and will help owners design their next chapter and ensure they get all the value they seek in a merger or sale.

Being intentional is the key to success in most business endeavors, and none more so than planning to perpetuate or sell your agency. In this session, Brett will cover three steps owners must embrace to achieve their optimal M&A/perpetuation outcome. First, Brett will review what he calls “5 Star Planning” as it relates to the perpetuation or sale of your business. Next, Brett will then outline all possible M&A options and help you better understand your “Owner Persona” so you can think about what is best for you. Thereafter, Brett will close the session with a discussion about maximizing your opportunity by avoiding common pitfalls that trip up many owners.

The second M&A session is a panel discussion with several accomplished buyers and sellers of agencies that will provide attendees with real life examples of how to succeed with M&A.

Brett will lead this discussion with Mark Gaunya, Partner, Borislow; Dan Mangus VP of Growth and Development, Senior Marketing Specialists; and Robert Tierney, Principal, OneDigital

This accomplished panel will provide agency owners with a 360-degree view of the M&A market, whether it is buying agencies, selling your agency, merging and other perpetuation options. All these topics, and more, will be discussed by these professionals who have been part of deals for decades.

About Rosen Advisory:
Rosen Advisory (www.rosenadvisory.com) is a leading M&A Advisory firm, representing employee benefits and insurance related owners on their M&A journey. Brett Rosen, Principal, has worked with hundreds of agency owners and been part of 65+ closed transactions in the space.  With a holistic approach that considers owners, their teams and their clients, firms that work with Rosen are able to write their next chapter while ensure a successful transaction.

About NABIP:
NABIP, the National Association of Benefits and Insurance Professionals, is a professional trade represents health insurance agents, brokers, consultants, and benefit professionals. NABIP’s primary goal is to promote ethical practices, education, and advocacy within the health insurance industry.

As a leading organization in the field, NABIP provides its members with valuable resources, networking opportunities, continuing education programs, and industry insights. It supports its members in staying updated with the latest trends, regulations, and best practices in health insurance.

NABIP also actively advocates for policy changes that impact the healthcare system. The association engages with legislators and regulatory bodies to ensure that the interests of its members and the clients they serve are well-represented. NAHU strives to shape healthcare policy in a way that supports affordable, accessible, and quality

The Most Important Benefit

Cybercrime is the number one crime in the world according to the Cybersecurity Infrastructure Security Agency (CISA) and is expected to reach over $10 Trillion in damages by 2025.  The trend is expected to continue rising for many years.  The major targets are businesses, employees and their families that have not taken the time to strengthen their cyber security defenses.  

When an employee loses their reputation and finances to Identity Theft, it literally turns their world upside-down.  It is an exigent emergency that takes them away from work, causes extraordinary financial strain and demands, and requires extensive legal resources to remedy.  Most employees have some notion that this is dangerous, but don’t fully understand the impact.

Wouldn’t it be nice to spare them this pain and angst?  Wouldn’t it be nicer to have your employee focused and at work instead of calling out in a panic due to this emergency?  You can protect them, and protect your business, proactively.  

The tools used by cyber criminals include viruses embedded in emails, texts (smshing), ransomware, malware, websites, and other means.  Trusted, vetted security tools can prevent nearly all of this, but they are not all the same.  Whitelist antivirus, for example, is one of the only tools that can stop previously unknown attack methods including Zero-Day malware and Ransomware.  Having a team of experts identify and vet these tools can provide you with significant advantage and overcome the “technology gap.”  With more people working from home and remotely it has now become a “target rich” environment for the cybercriminal, particularly because they lack the more common (but expensive) protections in place for larger corporate networks.  

Individuals, families, and businesses that have experienced these crimes know the devastating consequences that result from them.  All too often people’s life savings are wiped out, and families made destitute.  

Many small businesses that have experienced these types of attacks are often out of business within months after an attack as a result because the recovery cost most often exceeds available capital reserves.

So, what is the answer or remedy for this bad news?  Well one answer is to build up your cybersecurity defenses so that your business and your employees are NOT easy targets.  Cyber criminals (like most criminals) will not spend their time, money or efforts on a business or person if they have a robust defense posture – their goal is to steal, and there are plenty of easy targets to attack if you and your employees become a “hard target.”  

That defense begins with your employees’ cybersecurity.  They are your first line of defense.  If you don’t defend them, they can fall prey to these consequences, and your business will suffer from a loss of staff and potentially a loss of your own assets.  

Years ago, miners would take a canary with them when they went into a mine.  The canary was the active warning system to warn of dangerous gases.  The canary would sometimes die; but it would always warn the miners that dangerous gases were present.  But employees are not canaries.

Employees of a company all too often serve as the first warning that something is not right.  If a business starts seeing people in their company become victims of cybercrime, that’s a major clue.  But at that point, protecting those employees’ costs hundreds of thousands of dollars just for the employee’s recovery of their identity, reptation and correction of their credit score, not to mention the absences and sub-par performance of an employee under such extreme stress.  Educating them as to the risk and consequences builds an appreciation for the benefit.  Providing protections including proactive security and identity theft coverage will also build loyalty from them knowing that their employer is actively looking out for safety and concern.

Employees working remotely need protection for their cyber assets too, because they likely use their own computers to work from home, and most certainly connect to their home network before they access your company network.  If they get a cyber infection and connect to work, they bring that infection with them and likely spread it.  But unlike a human, it’s not obvious that the computer is sick, until it’s too late.  Protecting them is protecting yourself, in several different ways as we’ve articulated.

You need coverage with vetted, trusted, proper cybersecurity protection.  Today, coverage for cyber security protection is no longer a luxury but a necessity for companies and their employees as the statistics clearly show that there are more and more victims every year.  

Some companies’ leadership know other people who have suffered cyber-attack and the nightmare of recovery, while others think “It hasn’t been me, thus it won’t be.”  The latter perspective is like saying “I’m a good driver, so I don’t need car insurance.”  It ignores mechanical failures, road conditions, weather and other drivers, the combination of which are responsible for far more issues than the driver is.  We’ve enumerated some of the more serious consequences in this article but by far, not all of them.  Since 2005 when it began, the Common Vulnerabilities and Exposures project (https://www.cve.org/) has counted 198,881 publicly known computer and network security vulnerabilities and exposures. That’s an average of 30 issues a DAY since 2005, and the pace is accelerating.  And that’s just the Publicly known issues.  Ten Trillion dollars damage ($10,000,000,000,000.00) a year by 2025 may be a gross underestimate.  

Do what is necessary to get your and your employees protected.  Employee coverage should include a NIST Compliant Whitelist Antivirus, Identity Theft program, VPN, Password Manager and Vault and cyber safety training at minimum.  As a business owner you probably want to consider becoming compliant with NIST cybersecurity recommendations, the Capability Maturity Model Certification (CMMC) and reviewing which security systems have been reviewed and approved for use by the federal government (FedRamp Certifications).  

Remember that criminals will attack the easiest targets and ignore the hard targets until later.  The best offense against these cybercrimes is a good defense.  This is a case where you DON’T want to be the last adopter in the market.  Don’t be an easy Target.    

Chris Kirkland, CEO 
Doug Gould, CTO
Cyber Team U.S.
www.cyberteamus.com