017: Prentice McIntosh, Vice President of Risk Management at Stephens Insurance — Part 2
Release Date: 08/24/2018
Dr. Joseph Sanford and Dr. Kevin Sexton, Leaders of the Medical Claims Analytics Teams at Stephens Insurance
Stephens
Frank Thomas interviews Dr. Joseph Sanford and Dr. Kevin Sexton on employer wellness programs. They explore the data sets that are available between self-funded and fully-insured plans, the changes in healthcare visits since the start of the pandemic, the kinds of nudges that work to help employees to choose healthy behaviors and participate in wellness visits and screenings.
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Brian Chance, Senior Vice President, Cost Based Efficiency Claims & Risk Manager at Stephens Insurance
Stephens
Frank Thomas interviews Brian Chance on the complexities of the workers' compensation system, a state-regulated system that varies by state. They discuss how employers can obtain and manage state-compliant coverage, whether by buying a policy from an insurance company or third-party administrator, self-insuring, or buying a large deductible and acting as a self-insurer.
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020: David Keisner, Vice President, Associate Pharmacy Benefits Analyst at Stephens Insurance
Stephens
Frank Thomas interviews Dr. David Keisner on the meaning of the recent Supreme Court ruling for PBMs, how increased prescription costs may be passed along to employers and insured patents, how other states may act as a result of this ruling, and the potential ramifications of this ruling on other states’ regulation of healthcare providers, regardless of the federal Employee Retirement Income Security Act (ERISA).
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019: Dr. Geri Bemberg, Vice President & Pharmacy Benefits Analyst at Stephens Insurance
Stephens
Frank Thomas interviews Dr. Geri Bemberg. Geri specializes in prescription drug formulary and pharmacy benefit management solutions. Geri explains what a pharmacy benefit manager does. She covers the types of contracts PBMs make with plans, pharmacy groups and drug makers, and the differences between traditional and pass-through plans. Geri explains the benefits of having Stephens Insurance get involved between the plan and the PBM, and also offer formulary management and pharmacy benefit auditing.
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018: Prentice McIntosh, Vice President of Risk Management at Stephens Insurance — Part 3
Stephens
Frank Thomas interviews Prentice McIntosh, continuing and concluding the conversation on hurricane preparedness in this episode of Stephens Viewpoints. Prentice and Frank discuss steps businesses should take after a hurricane. They focus on getting back to the property and meeting the claims adjuster as quickly as possible, putting in place temporary fixes to mitigate future losses, and revisiting the disaster recovery plan to make sure all aspects of the business are protected.
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017: Prentice McIntosh, Vice President of Risk Management at Stephens Insurance — Part 2
Stephens
Frank Thomas interviews Prentice McIntosh, continuing the conversation on hurricane preparedness, in this episode of Stephens Viewpoints. Prentice and Frank discuss steps businesses may take to cover the business disruptions that come with a hurricane. These can include a storm safety plan, disaster recovery plans, business interruption coverage and contingent business interruption coverage
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016: Hurricane Preparedness — With Prentice McIntosh, Vice President of Risk Management at Stephens Insurance
Stephens
Prentice McIntosh is interviewed by Frank Thomas in this episode of Stephens Viewpoints. Prentice and Frank discuss the steps businesses should take to plan for hurricanes and other disasters, how to recover from disasters, how to drill the disaster plan, and how to obtain appropriate property insurance.
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015: Workplace Health — With Todd Whitthorne, President of ACAP Health Consulting and Tom Kane, Executive Vice President and Director of Life & Health at Stephens Insurance
Stephens
Todd Whitthorne, President of ACAP Health Consulting, and Tom Kane, Executive Vice President and Director of Life & Health for Stephens Insurance, are interviewed by Frank Thomas in this episode of Stephens Viewpoints. Todd, Tom, and
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014: Kara Trott, Founder and CEO of Quantum Health and Walker Bowden, Director of Self-Funded Marketing for Stephens Insurance
Stephens
Kara Trott, Founder and CEO of Quantum Health and Walker Bowden, Director of Self-Funded Marketing for Stephens Insurance, are interviewed by Frank Thomas in this episode of Stephens Viewpoints. Kara, Walker and Frank discuss innovations in engagement that allow members to navigate much better the healthcare maze.
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013: Olin Wage, Senior Vice President and Long-Term Care Advisor for Stephens Insurance
Stephens
Olin Wage, Senior Vice President and Long-Term Care Advisor for Stephens Insurance, is interviewed by Frank Thomas in this episode of Stephens Viewpoints. Frank and Olin discuss why long-term care insurance should be considered as part of a prudent retirement plan, the options available, and options for providing for long-term care needs and expenses.
info_outlineFrank Thomas interviews Prentice McIntosh, continuing the conversation on hurricane preparedness, in this episode of Stephens Viewpoints. Prentice and Frank discuss steps businesses may take to cover the business disruptions that come with a hurricane. These can include a storm safety plan, disaster recovery plans, business interruption coverage and contingent business interruption coverage.
Key Takeaways:
[:41] According to FEMA, almost 40% of small businesses that close during a disaster never reopen. How can a small business plan ahead to fight these odds?
[:52] A hurricane preparedness or natural disaster plan is important. What is most important for small businesses is to make sure that they have business income within their property coverage. Business income coverage would continue to pay your lost income and key employees while your covered business is down.
[2:16] Transit disruptions, power failures, and storms affecting suppliers and vendors can have a trickle-down effect on small businesses that can cause them to close their doors. Consider contingent business interruption, a sister coverage to business interruption coverage.
[3:16] Part of your disaster recovery plan needs to identify those key suppliers. Are there other suppliers you could use in the meantime to keep you in business? If not, it would be very important to have this contingent business interruption coverage to bridge the gap until they are back up and running.
[3:41] How can a business prepare their staff for a hurricane about to hit? When the plan is in place, the plan needs to be communicated to all the employees and all the employees need to be aware of how this plan is going to play out. It would be very beneficial to have a tabletop drill of the plan so that everyone is familiar with it.
[4:24] Someone needs to have the role of maintaining contact information post-storm, because all of your employees are going to evacuate and be spread out. If there is a way to monitor that and communicate with those employees, that is very important.
[4:43] What are some of the steps companies need to take during the storm? The first concern is safety. If you don’t evacuate, you need to make sure you have safety, food, water, and a way to communicate with others that have evacuated so you can protect your property.
[5:25] If you do evacuate, being able to communicate with local authorities, staff, and other employees, and getting back to your location to assess the damage are all important.
[5:41] During the storm, for safety, turn off all the utilities that you can, stay away from any windows, and take normal safety precautions. If you hunker down, make sure you’re in a safe place and have taken the necessary precautions.
[6:09] In the next episode with Prentice McIntosh, Frank Thomas will discuss with her what businesses need to do following a storm.
[6:14] For more information on this topic, please contact Stephens Insurance at 1-800-643-9691. To listen to more Stephens Viewpoints, check out our website. Insurance products offered through Stephens Insurance, LLC, National Producer Number 8844362. Securities offered by Stephens, Inc., Member NYSE, SIPC.
Mentioned in This Episode: