Health Insurance Industry Issues and Legislation

Congress is seeking input on potential changes to ERISA. Payors and providers offered vastly different on ideas on where Congress should focus its efforts. Employer plan sponsors are pushing for stronger preemption over state law requirements while providers. Providers want Congress to address the potential for "harmful self – dealing" by large insurers servicing as third-party administrators for self-funded plans.

2024 will be a year in which self-funded plans and their administrators will need to adapt and innovate in the ever-shifting healthcare landscape. Innovative plans will be integrating AI and predictive analytics, leveraging the increasing use of telehealth virtual care, and considering how to use technologies like wearable devices to track patient activity, and identify potential health risks proactively and improve plan member involvement and satisfaction.