Archive for September, 2013

Physicians Billing Errors & Omissions

Posted on: September 27th, 2013 by Commercial Insurance No Comments

Now more than ever, we are seeing the Federal Government increasing scrutiny of physician practices and their billing practices. Medicare, Medicaid and Commercial Insurance companies have launched aggressive campaigns to enforce billing rules and regulations. The addition of increased and complicated billing regulations have left many physician groups spending more time on administration issues creating new liability challenges.

Informed physicians are greatly concerned with the volume of billing in their practices, the education of their employees, and the fines and penalties being levied. Recovery Audit Contractors (RAC’s) are targeting Physicians, Medical Groups and Hospitals and are paid a percentage of any provider overpayments they uncover. The stakes are high and the exposures are real. Do not expect to avoid an audit by having the billing handled by an outside billing party. The information starts and ends with each physician group.

With billing fines up to $11,000 per claim, the audit results for a medical group could be catastrophic. Protection for your practice and reputation are available and can include;

  • Prior Acts Coverage
  • Defense Costs including attorneys and consultants
  • Liability limits from $1,000,000 to $5,000,000
  • Substantial cost reduction for medical groups with 10 or more physicians

For more information on Billing Errors & Omissions, Call Us.

You have questions, We have the answers.

Flood Insurance Reform and Your Home

Posted on: September 26th, 2013 by Personal Insurance No Comments

As an insurance business in central Massachusetts we do not have a great number of clients that currently have flood insurance, but there are major changes going on regarding Flood Insurance Reform and we think they are worth reviewing.

We hope that all property owners know that coverage for FLOOD is not automatically included in a property policy. The majority of Flood Insurance coverage written in our agency is placed through the National Flood Insurance Program and one of its providers. This coverage is provided on a separate Flood Insurance policy.

Congress passed The Biggert Waters Flood Insurance Reform Act of 2012 and now property owners will start to see the impact of the passage of this reform act. In addition to the changes brought on by this reform the National Flood Insurance Program has also been updating and revising flood maps.

Basically many of the old rules and rates of flood insurance are gone and the new rules and rates apply. These changes will mean different things to different property owners.

In our agency we have already had four requests for flood insurance from insureds whose mortgagees are requiring that they now obtain flood insurance even though this was not required with the lender when they purchased the home.

Here are a few good websites that review many of the changes that property owners may face with the passage of this act.

A few things we would like to recommend regarding flood and these new requirements.

  1. If you have a current flood policy, please do not let it lapse. You may be grandfathered in with lower rates and should keep this coverage until you review other options.
  2. If you receive notification from your mortgagee that you are now required to have Flood Insurance, forward a copy of the letter to your insurance agent as soon as possible. The NFIP has specific time frames for placing flood coverage and this document will be important.

These changes are scheduled to go into effect 10/1/2013.

If you have any questions about Flood Insurance, please give us a call or send and email. We look forward to working with our clients on sorting out this new Flood Program.

Employers Act Now / Health Insurance Notification

Posted on: September 13th, 2013 by Commercial Insurance No Comments

The new National Health Reform Law, also known as The Affordable Care Act (ACA), requires employers to issue a “Notice of Marketplace Coverage Options” to all current employees by October 1st, 2013, and to include all new employees within 14 days of the employee’s start date, whether they are benefit eligible or not.

The notice from the employer, must be in writing and may be sent by U.S. mail or email. The notice is intended to provide employees with information regarding the existence of the “Marketplace”, known as the Massachusetts Health Connector, along with contact information and a description of the services available at the Health Connector. Employers are also required to include information on any Section-125 plans sponsored by the employer.

The requirements for employers with employees only in Massachusetts will differ from employers with employees outside of Massachusetts.

Deadline for all notices to go to employees is October 1st, 2013.

You have questions, We have the answers. Call us.

Sharing the claims of our clients…

Posted on: September 6th, 2013 by Personal Insurance No Comments

This is the claim story of an age old problem… The Hit and Run.


Each year we have a number of these accidents reported to our agency. If this has ever happened to you, the mention of the Hit and Run probably raises your blood pressure.

These unfortunate events usually go like this. You park your car in a “safe” place and go off to your destination. You come back to your car and it has been HIT by another vehicle.

So you call your agent to check in on what to do next and then you start to calculate all of the bills that will be coming your way!

Here is how this works. If you have collision coverage and it looks like a vehicle hit your car the damage to your car will be covered, BUT there are expenses to consider.

First Expense: Your deductible will apply in a Hit and Run. Most clients carry a $500, $1000 or $2500 deductible on their collision coverage.

Second Expense: Renting a car while your car is being repaired. About one half of our clients purchase rental coverage. The other half decide to pass on this option. In the Hit and Run case, those who have rental coverage will have the rental expense covered. Those that do not have rental coverage will have the additional expense of a car rental bill.

Unfortunately there is not much we can do about these Hit and Run accidents!

What we like to do is share our claim stories so that you know what will be covered and what will not be covered if this happens to you. Safe parking to all!