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A Message from Sheldon Kenton
 As we start to look towards 2022, I’m grateful for the opportunity to look back on the year we’ve had. Despite the continued uncertainty of the pandemic, the team at GeoBlue® has been working hard to deliver on the promises we make to you and our members. I’ve been very proud of the response and resiliency our team has shown in the face of the pandemic.
As I’ve shared with the GeoBlue team in our internal meetings, I’m most proud that we haven’t let the grass grow under our feet for a second. Our relationships with both the Blues and Bupa continue to strengthen. We’ve put a lot of work and resources into aligning our value propositions with Bupa Global to make a more seamless experience for our members. We’ve been invited as finalists on several large opportunities and were recently told that we were part of one of the best joint finalist presentations the broker had ever seen between domestic and international carriers. I know how much passion, thought and care our teams put into each individual presentation, and I am immensely proud to hear that acknowledged externally.
We also spent some time this year thinking about how we are structured and asking ourselves if we are best set up to deliver on your clients’ needs. In the first part of the year, we re-designed our service teams and brought our frontline groups together under one department, known as our Global Service Center (GSC). Every conversation, decision and process put into place while creating our GSC was done with the members’ experience at the forefront. We also adjusted the structure of our Client Management team, including some well-earned promotions. This was a win for us on two fronts. First, we were able to reward employees for their hard work. Second, it allows us to be more responsive and agile in responding to your needs. The team is thriving under the direction of our VP, Client Management Dave Nagengast, and I trust they’re rising to any need you may have.
Part of our 2021 efforts included dedicating resources to communicating more regularly with you. In addition to our more frequent email communications, the team has started producing regular webinars, which have been well received. If you haven’t had a chance to attend one of these webinars yet, look for an invitation to our next one in early 2022.
Looking ahead to 2022, we are excited to continue to build upon the headway we’ve made in 2021. We appreciate the partnerships we’ve continued to develop over the last 12 months with you and look forward to broadening and strengthening those relationships in the new year.
Wishing you a safe, healthy and happy holiday season.
Stay and be well,
In Case You Missed Our Latest Webinar
IT’S AVAILABLE ON DEMAND!
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| Our latest webinar provided an inside look into medical evacuations. From the decision-making process to communication needs and logistics, learn how we manage the complexities of medical evacuations with care, and what employers can do to prepare for and support employees during an evacuation. |
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Broker Compensation Disclosure
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| As you’re likely aware, Congress passed a law at the end of last year, the Consolidated Appropriations Act, 2021 (CAA), that includes a number of reforms to the U.S. healthcare market. Among these are rules requiring brokers and consultants to disclose to their group health clients the compensation they expect to receive and describe the services they provide in return. For GeoBlue business, this means corporate expatriate plans underwritten by 4 Ever Life, Inc. |
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For broker or consultant appointments beginning December 27, 2021, as a broker or consultant to group health plans, you will be required to disclose your compensation if you expect to receive $1,000 or more in compensation for your services from the client (direct compensation) or from GeoBlue or other sources (indirect compensation). As a broker or consultant, you must disclose:
- A description of all direct compensation (e.g., fees) you expect to receive in the aggregate or broken out by service.
- A description of all expected indirect compensation (including insurer or other vendor incentive payments), how the indirect compensation will be paid, by whom it will be paid, and any services you perform for which it will be paid.
- Any transaction-based compensation (e.g., commissions, finder’s fees) for services you provide, and the payers and recipients of the compensation.
- A description of any compensation you expect to receive in connection with the contract’s termination, and how any prepaid amounts will be calculated and refunded upon termination.
Disclosures must be made prior to the date that the contract is entered into, extended, or renewed. Please note this isn’t an exhaustive list of all requirements – we encourage you to consult with your legal and compliance resources to understand how CAA applies to you.
If you have any questions about this update, including how to obtain information on your indirect compensation for these disclosures, please contact your GeoBlue sales representative.
Are Networks Outside the U.S. Drivers of Cost Savings and Cost Containment?
Not always. The U.S. is unique in its reliance on networks to manage the wide price disparity for payers. At the same time, it’s a key destination for healthcare. In other countries less dependent on payer pricing, access and quality are key determinants.
A common misconception, when evaluating global networks, is that cost effectiveness, in terms of premium, is driven by a carrier’s international provider network. While affordability is one component of an international network, the reality is that most U.S.-based corporate clients incur the majority of claim spend within the U.S. by either trailing dependents, inpats and/or expats who choose to come home for treatment. Therefore, the U.S. network offering is likely the bigger contributor to a plan’s overall cost-effectiveness.
When evaluating networks, it’s important for brokers and employers to consider both network models—the U.S. as well as the rest of the world—and to recognize that they can’t be evaluated in the same way. Learn more in our network e-book.
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Catch the Headlines: Be among the first to hear about news and issues impacting the globally mobile
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Grab a Seat: Register for upcoming events and webinars featuring relevant topics and industry experts
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Get to Know Us: Catch snippets of who we are and how we’re simplifying the international healthcare experience
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Blue Cross Blue Shield Global® is a brand owned by Blue Cross Blue Shield Association. GeoBlue is the trade name of Worldwide Insurance Services, LLC (Worldwide Services Insurance Agency, LLC in California and New York), an independent licensee of the Blue Cross and Blue Shield Association: made available in cooperation with Blue Cross and Blue Shield companies in select service areas. Coverage is provided under insurance policies underwritten by 4 Ever Life Insurance Company, Oakbrook Terrace, IL, NAIC #80985. 4 Ever Life Insurance Company is an independent licensee of the Blue Cross and Blue Shield Association.
CORP2188-BRK-11/21 |
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