Day: July 22, 2013

A good chunk of Detroit’s debt problem is a health-costs problem. The Detroit Free Press notes that the city has $5.7 billion in unfunded retiree health-care liabilities, nearly a third of the city’s debt.

For this problem, at least, Detroit appears to have a relatively straightforward solution, one that hasn’t been available to bankrupt cities in the past. It plans to transition its 19,389 retirees into the health law’s new marketplaces, saving the city somewhere between $27.5 million and $40 million annually.

This isn’t a policy that cities need to go into bankruptcy to execute; there are many that are struggling with the costs of retirees’ pensions and health benefits. One report from the Pew Center for the States looked at 61 cities across the country and found that, taken together, they had $126.2 billion in health benefits promised to retirees. Only 6 percent of that amount – $8 billion – currently has funding.

Continue reading Detroit Wants To Unload 19,389 Retirees Into ObamaCare Exchanges

Lubbock, TX/San Antonio, TX – July 22, 2013 – The Caprock Health Group is pleased to announce the addition of Bob Brennan as VP of Operations.  Mr. Brennan’s hiring is part of the Caprock Health Group’s ongoing strategy to expand its market presence and attract the most-talented and experienced professionals.  In this role Mr. Brennan will be responsible for all aspects of plan operations for both the Lubbock and San Antonio operations centers of the companies.

Prior to joining Caprock Health Group, Mr. Brennan has held key executive management roles related to plan operations with various organizations in the industry.  He is an expert in metric driven management and process oriented applications related to self-funded health plan services.  He has more than 25 years of industry experience and has built his career on the basis of superior customer service and high quality, effective claim operations.

As a new member of the Caprock Health Group, Bob will be an integral part of the executive management team and will help further solidify the company’s position as an industry leading health care services organization.

About Caprock

Caprock Health Group is a health care services organization comprised of affiliated companies working in close coordination to provide an effective integrated solution for employers and insurance brokers who want the very best in self-funded health plan management and fully insured plan access.  Caprock Health Group offers a full suite of products which are designed to provide each employer maximum cost savings.  Our focus is helping employers manage long-term health care costs by empowering employees through education, creating healthier consumers, and incorporating highly effective cost containment strategies.

For more information contact:

Annette Alonzo

Director of Marketing

aalonzo@caprockhp.com

www.caprockhp.com

 

 

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Lubbock, TX/San Antonio, TX – July 22, 2013 – Caprock Health Group announced today that it has completed the acquisition of Verity National Group, an established health plan services company based in San Antonio, Texas.  The acquisition makes Caprock Health Group one of the largest health care services organizations in the region.

The acquisition will continue Caprock Health Group’s strategic initiative related to geographic expansion, product diversification and growth.  The merger of Caprock and Verity will enhance the Caprock Health Group’s position as an industry leader in innovative plan management and cost containment services.

“Verity is a great complement to the Caprock organization from many perspectives.  They have a strong team of experienced staff and great leadership who know our industry and have a history of successfully serving agents and employers in the areas of self-funded plan administrative services, care management services, ancillary product services and online eligibility/consolidated billing,” said David Adams, CEO of Caprock Health Group.

Mr. Adams said a component of the current Verity operation, specializing in eligibility management and related technology services, will continue to be marketed under the Verity nameplate by Caprock.  He said Laurie Burke will remain the President of that Verity unit, and also will serve the Caprock Health Group as a Senior Consultant.

Ms. Burke said, “We’re honored to be a part of the Caprock enterprise.  Together, we offer the broadest range of services in Texas and the Southwest.”

About Verity

Verity National Group has provided insurance services from its Central Texas base since the late 1980s.  The firm serves a mix of carrier, TPA, agency, and public and private employer clients – providing Group Health, Work Injury, and CDHP administrative services.  Its sister firm, VIP Care Management, received the top national award in 2010 for its health management program.  Verity’s increasing focus in recent years has been on data exchange and technology services.

About Caprock

Caprock Health Group is a health care services organization comprised of affiliated companies working in close coordination to provide an effective integrated solution for employers and insurance brokers who want the very best in self-funded health plan management and fully insured plan access.  Caprock Health Group offers a full suite of products which are designed to provide each employer maximum cost savings.  Our focus is helping employers manage long-term health care costs by empowering employees through education, creating healthier consumers, and incorporating highly effective cost containment strategies.

Contact Information:

 Annette Alonzo

Director of Marketing

Caprock Health Group

aalonzo@caprockhp.com

806.698-5883

www.caprockhp.com