Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Life Insurance

FARA Offers Care Planning Services

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Nov. 5, 10:25 a.m. – F. A. Richards & Associates, Inc., Mandeville, La., is offering life care planning services to insurance companies, a new service that forecasts contingencies from catastrophic illnesses and injuries.

“Life care planning is most often used for illnesses that may result in costs over $100,000,” the company says in its announcement.

FARA provides risk management and benefits administration services to insurance companies, self-insured corporations and governmental entities.

The company says its new service can help insurers more accurately project long-term medical costs and plan for the best quality of life for injured or ill employees.

“Life care planning complements ongoing medical management and vocational case management efforts by providing a clear road map for the employee’s long-term care,” says FASA. “This service yields a tremendous return on investment in the form of accurately forecasting and controlling future medical costs.

Life care plans are defendable in court and may be used in litigation, FASA adds.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.