Thursday, September 17, 2015

Thursday Morning LinkFest

■ Your tax $'s @ work:

"The public employees responsible for overseeing $600 million in contracts to build were inadequately trained, kept sloppy records, and failed to identify delays and problems that contributed to millions in cost overruns."

But other than that, Mrs Lincoln....

But sure, the site's totally under control now.

■ Meanwhile, those CO-OPs are going great guns.

Wait, what?

"A state court in Louisiana has issued an order ... to put Louisiana Health Cooperative in rehabilitation."

Let's see: they started with $56 million in taxpayer "loans" (aka gifts) which they promptly burned right through; now, it doesn't even meet the minimum surplus requirements necessary to retain accreditation. Never fear, though, the state still has access to another $9 million to throw at this raging success.

■ Back in May, we reported that Assurant Employee Benefits (which markets group term, dental and disability plans) would likely be okay despite its parent company hitting the skids and selling off assets.

Turns out, the company's been snatched up by an erstwhile competitor, Sun Life of Canada for just shy of $1 billion. So what's in store?

"[W]hat they talked about most often was Assurant's group dental business."

This is actually a pretty hot market right now, as is vision (which they also sell). I'm fortunate to know a few Assurant Benefits folks, and they're all top-notch. Fingers crossed that this is a positive development.

■ In potentially Not-So-Great news. long-time admin Ceridian is bailing on the COBRA-compliance marketplace. In email from Medical Mutual of Ohio:

"COBRA vendor, Ceridian, recently sent communications to brokers saying that Ceridian is leaving the benefits continuation services (BCS) business and all Ceridian customers will transfer to WageWorks."

The transition is expected to go smoothly (and maybe this one will). Click here for more details.
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