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FARA Offers Care Planning Services

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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.