NAIC Life Insurance Policy Locator Matches More Than $1 Billion to Beneficiaries

Every year millions of dollars in life insurance benefits go unclaimed because people can’t find their deceased loved ones’ policies or, in some cases, may not even know the policies exist. FYI..The National Association of Insurance Commissioners (NAIC) offers the Life Insurance Policy Locator. The free online tool, maintained by the NAIC, has received 227,551 requests countrywide, which has led to an astounding 81,349 matches of life insurance policies or annuities with claim amounts of $1,028,479,262 being reported by companies through July 31, 2020!  NAIC has also created information to help consumers prepare to purchase life insurance and the Life Insurance Policy Locator to help consumers if they don’t have all the information they need to file a claim. Make sure your clients know about these tools!

INSURTECH

Vericred Teams Up with Beam, CaliforniaChoice, Kaiser & Oscar

Vericred unveiled a new suite of enrollment and member management APIs that go a long way toward furthering digital connectivity between health insurance and employee benefit carriers and insurtech companies. Vericred’s API Platform is said to enable the “simple and seamless” exchange of quoting, enrollment and eligibility data between carriers and technology companies such as tech-enabled brokers, BenAdmins, HCMs and HRIS solutions. The news was paired with the announcement of relationships with Beam, CaliforniaChoice, Kaiser Permanente and Oscar. Vericred’s new suite of APIs enables end-to-end functionality including new group installation, renewals, broker of record changes, member additions, terminations and changes, reconciliation and normalized enrollment status and error handling across all lines of coverage.

ACUPUNCTURE/CHIRO

Landmark Announces Commission Increase
Here’s some good news. Effective November 1, 2020, Landmark Healthplan announced it will increase commissions from 10% to 20% of paid premiums for the first year on all new business. More info here.

HEALTH

UnitedHealthCare and Canopy Announce Another Collab

UnitedHealthcare and Canopy Health announced the launch of the California Doctors Plan, the latest addition to the portfolio of health plans that have resulted from the collaboration between the companies. California Doctors Plan is available for people with employer-sponsored health coverage in nine Bay Area counties: Alameda, Contra Costa, Marin, San Francisco, San Mateo, Santa Clara, Santa Cruz, Solano and Sonoma. Canopy Health is an integrated, high-performing accountable care network of providers and health systems in the Bay Area that are committed to delivering high-quality, affordable care. UnitedHealthcare established a product partnership with Canopy Health in 2017 to give commercial members enrolled in the SignatureValue HMO plan access to the unique value proposition of the network: the flexibility of accessing care from a variety of physicians and hospitals across the Bay Area but at a lower premium than a traditional HMO plan. UnitedHealthcare and Canopy Health expanded their relationship earlier this year with the launch of the UnitedHealthcare Canopy Health Medicare Advantage plan. Now with the introduction of California Doctors Plan, the companies aim to not only offer significant cost-savings but also a more personalized, simplified and coordinated care experience, according to Steve Cain, CEO of UnitedHealthcare in Northern California. “Our relationship with Canopy Health is working so well because we share a commitment to providing consumers and employers with high-value health care.” UnitedHealthcare members in Northern California enrolled in the plans have access to more than 5,000 physicians and 19 hospitals in Canopy Health’s network, which includes UCSF, John Muir Health, John Muir Medical Group, Hill Physicians Medical Group, Meritage Medical Network, Santa Clara County IPA (SCCIPA) and Dignity Health Medical Network – Santa Cruz. The California Doctors Plan offers plan participants the opportunity to save up to 25% on premiums compared to a traditional PPO offering as well as $0 co-pays for primary care and urgent care, 24/7 telehealth visits, and care coordination driven by a patient’s primary care physician.

DRUGS

Expanded Exec Order for Drugs Met with Criticism

President Donald Trump signed a new executive order aimed at lowering drug prices by linking what we pay to the prices paid by other countries. This new executive order is an expansion of his July 24 executive order. It extends the mandate to drugs available at a pharmacy, which are covered under Medicare Part D. The July version focused on drugs administered in medical offices and health clinics, covered by Part B. Called the Most Favored Nation order, the new executive order would pay a price for a drug that matches the lowest price paid among wealthy foreign governments. The Pharmaceutical Research and Manufacturers of America denounced Trump’s move as “a reckless attack on the very companies working around the clock to beat COVID-19.” The Biotechnology Innovation Organization said the move would decrease industry investment. Others said the order will make zero immediate impact because it requires issuing new federal rules, a complex and often time consuming process. Furthermore, determining prices paid by other countries will present a formidable challenge as negotiations between governments and manufacturers are often confidential.

LOTS OF NAIC NEWS

NAIC Looking for 2021 Consumer Liaison Reps

NAIC is currently accepting applications for the 2021 Consumer Liaison Program. The program promotes consumer representation and interaction with the NAIC members by providing a way for individuals who are qualified consumer representatives of consumer organizations to participate in NAIC meetings. The NAIC defines a consumer organization as a national, state, or local organization that serves to protect the interests of consumers as they relate to the regulation of insurance. Deadlines for applications is Oct 31. Find out more here.

NAIC Hires Boswell as Diversity, Equity, and Inclusion Director

The National Association of Insurance Commissioners (NAIC) announced Evelyn Boswell as the company’s Diversity, Equity, and Inclusion (DE&I) Director. Boswell will start her new role effective mid-September. NAIC says The DE&I function reinforces the organization’s commitment to creating a diverse and inclusive workplace. Boswell’s appointment is a first for NAIC. Based in Kansas City, Missouri, Boswell will be responsible for leading the NAIC Diversity, Equity, and Inclusion efforts throughout the organization, including overseeing the newly formed DE&I Council.

NAIC Announces Fall National Meeting to be Virtual

The 2020 NAIC Fall National Meeting, initially scheduled to be held in Indianapolis, Indiana, will now be held virtually. The NAIC is planning a full and interactive agenda for the fall meeting. A schedule with specific dates and times will be available on naic.org by the end of September. Registration for the Fall National Meeting will open the week of September 22nd. Additional information regarding the 2020 NAIC Fall National Meeting will be announced as it becomes available.

EVENTS

  • LAAHU’s Zoom Happy Hour is the first Wednesday of the month from 4-5p.m. Members and nonmembers welcome. Register here.
  • National African-American Insurance Association (NAAIA) Leadership Summit
NAAIA LEADERSHIP SUMMIT 3.0 Sponsored by The Hartford, facilitated by organizational leader Dr. Addie Perkins Williamson, author of “Crossing the Finish Line: Getting to the Top and Staying There.” Session 1 was September 15. Session 2 coming up: September, 29, 9 a.m. PT. Info and registration here.
  • NAIFA-Los Angeles, Virtual Health Forum, September 25
Info and registration here.
  • CAHU Summit, Virtual, Oct 6-7- Moving Boldly Into Our Future

Keynote speaker will be Joe Buzzello, a life-long entrepreneur, author and a master salesperson and organizational leader. Sponsorship info here. Register here.

  • SIIA National Conference & Expo, Virtual, Oct. 12-14,

Self Insurance Institute of America will host the world’s largest self-insurance event with nearly 50 educational sessions planned – several live with an interactive format and others available on-demand.  The event will also feature a virtual exhibit hall with nearly 100 companies showcasing their products and services.  Registration fees now as low as $495.  Info and registration here.

  • IICF Foundation Women in Insurance Regional Forums Rescheduled

Insurance Industry Charitable Foundation has rescheduled the Women in Insurance Regional Forums:

Chicago: October 14
New York: October 26

Los Angeles: October 30
Dallas: November 17
More info at IICF’s website.
  • IICF Inclusion in Insurance Forum, Virtual, October 27 – 29
The Insurance Industry Charitable Foundation will convene insurance professionals, C-Suite executives, D&I leaders and other innovators for the IICF Inclusion in Insurance Forum, an action-oriented program with a focus on the future of work in the insurance industry. Gain insights and plans for acting on inclusion, diversity and innovation initiatives from respected leaders representing the industry, academia and other areas of business. Each virtual session will run approximately 2-1/2 hours, starting at 9a.m. Pacific.Register here.
  • CAHU Women’s Leadership Summit will now be April 7-9, 2021!

The latest news from CAHU’s WLS committee is that the CAHU Women’s Leadership Summit will now take place April 7 –9, 2021, at Green Valley Ranch in Las Vegas. Questions should be emailed to info@cahu.org.