We still remember when the only thing Amazon sold was books (and we thought that was pretty cool)! But things have come a long way in a short time. Amazon has now launched a pharmacy integrated right into the Amazon site. Of course, this was expected after Amazon purchased PillPack a couple of years ago. How it works… even if you have an Amazon account, you must sign up for a pharmacy account. But they say it only takes 5 minutes. Afterward you can load up your prescriptions (Amazon will even contact your prescriber for you, if needed) and then the site offers cost comparisons with your prescription drug benefits and without. Amazon pharmacy works with Medicare, Medicaid and most prescription drug plans. If you choose to pay cash and you’re a Prime member, however, you’ll be offered discounts and you get free two-day delivery. Watch a video and find out more here.
Oh, and guess what happened after the launch? Yep, shares fell significantly for CVS, Walgreens Boots, GoodRx and drug distributors Cardinal Health and McKesson.
HEALTH
LAAHU Virtual Holiday Event Dec 17 – 100% of Proceeds go to Regional Food Bank!
LAAHU announced that this year’s holiday charity event will be virtual December 17, 2020 – 4:30pm to 6:30pm. It’s $25 per ticket and 100% goes to the Los Angeles Regional Food Bank. You can watch this YouTube vid if you want to know how desperately the food banks need help. LAAHU promises fun and prizes. And be sure to wear your ugly sweater for a chance to win a special prize. We already have our tickets. Now it’s time for you to get yours!
Anthem: It’s About Integration
Anthem’s recently published fourth edition of the biennial “Integrated Health Care Report,” shows a continued upward trajectory in the adoption of integrated health care benefits by employers since research began in 2014. More than half (56%) of the 300 employers surveyed are now actively integrating their medical, pharmacy and ancillary benefits under their employer’s health and wellness programs. This represents a 10% increase from the previous study conducted in 2018. Also, an additional 40% are considering or potentially considering integrating benefits, demonstrating that an overwhelming 96% of employers surveyed are trending towards the integrated health care approach.
The Anthem study demonstrates that delivering medical, pharmacy, dental, vision and disability as individual benefits with little-to-no coordination between them prevents employees and health care providers from gaining a holistic view of total body health. When using an integrated health care approach, benefits data is connected to the employer’s health management program and establishes a fuller picture of a person’s health, which provides a clear path to improved outcomes and cost efficiencies.
The report found that among employers who are actively integrating products, the majority reported integrating pharmacy (73%), vision (75%), dental (67%) and/or disability (63%) benefits with medical. The integration of pharmacy, vision and dental all saw increases of at least 6% over the findings of the previous study in 2018.
LIFE
Life Insurers Responding to Pandemic
There is often an upside even to things that are atrocious (such as the pandemic). Money reports that the current circumstances have pushed life insurers to make some positive changes. While COVID has caused some insurers to impose tighter underwriting guidelines, premiums have not seen an increase. Also, the necessity of life insurance has become front-and-center for many people and the process of getting covered may be easier than ever with insurtech streamlining the application process. LIMRA says the number of Americans who say they’ve experienced an increased need for life insurance rose almost 10% by third quarter. Of course, nothing like a good ‘ol (bad) pandemic to make you feel vulnerable.
CONTINUING ED
CRIME
You don’t have to watch Netflix…here’s a nasty scandal right in your own industry (though, thankfully, not a California broker). ThinkAdvisor reports about Texas broker Keith Ashley who ran a Ponzi scheme and ended up allegedly murdering one of his clients.
EVENTS
- LAAHU’s Zoom Happy Hour is the first Wednesday of the month from 4-5p.m. Members and nonmembers welcome. Register here.
- NAHU Power Hour, 4th Wednesday of the month from 4-5p.m. Pacific. Members and nonmembers welcome. Register here.
- NAIC Fall National Meeting, Virtual, Dec 3-9
The agenda for the 2020 NAIC Fall National Meeting is now available. The schedule includes interactive sessions, as well as a special session that will be held by The Center for Insurance Policy and Research (CIPR). Meeting registration opened September 25, and the registration fee is $495. As a reminder, unused registration fee credits received from the cancelled 2020 Spring National Meeting may be applied to the registration fees for the 2020 Fall National Meeting. Register here.
- NAIFA-Los Angeles 68th Annual Will G. Farrell Award & Leadership Recognition Event, Virtual, Feb. 18, 2021. More info here.
- CAHU Women’s Leadership Summit, 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.
