Insurance companies deal with a variety of challenges when managing their policyholders (life, long term care, PRT, structured settlements, annuities), with inaccurate or missing participant data being the most impactful. Incorrect information affects how insurance companies communicate with policyholders, accurate forecasting of risk, overfunding reserves, interest penalties, and overpayments. Plus, [continue reading]
The Michigan Education Association (MEA) is a self-governing education association representing about 120,000 teachers, education support professionals and higher-education employees throughout the state. The association has grown from their inception in 1852. Today, they offer public school employees healthcare through MESSA, as well as retirement and insurance programs through Michigan [continue reading]
Can you afford to pay dead participants? Analysis of the federal government’s coronavirus stimulus payments indicate up to $1.4 billion in payments were sent to dead people. The overpayments were a function of two elements: no formal process was utilized to identify deceased persons and it doesn’t appear the federal [continue reading]
