by Geralyn Isler | October 5, 2022 | Employee Benefits, Employer Guidance, Recommended Articles
On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022. One important provision of the act for employers is the expansion of coverage of insulin under high deductible health plans (HDHPs). Effective for plan years beginning on or... by Geralyn Isler | September 19, 2022 | Employee Benefits, Employer Guidance
In a recent Notice the IRS announced the significantly decreased percentage that will be used to determine whether employees’ share of their 2023 premiums are considered affordable for purposes of the employer mandate. Applicable Large Employers, for the 2023... by Angel Carrier | September 15, 2022 | Employee Benefits, Employer Guidance, Medicare & Individual
Employers who provide prescription drug coverage to those who are or may become eligible for Medicare Part D, must notify both plan members and CMS on whether the coverage provided is deemed “creditable” or “non-creditable” per the Medicare Modernization Act (MMA) of 2003. Creditable coverage means that the government considers the employer’s prescription drug coverage as good as or better than the Medicare drug benefit. Often, insurance carriers provide notices that outline whether your plan(s) are creditable or not. Many of the prescription copay plans are creditable, but often the High Deductible Health Plans (HDHP) are not. Determinations are subject to change each year.
by Jim Beatrice | June 28, 2022 | Employee Benefits, Employer Guidance, Health Care Reform
Last week’s decisions raise many questions for employee benefit plan sponsors that may take months or even years to fully resolve. However, existing law does help to answer certain key questions: How is it determined if fully insured plans cover abortion? How is it... by Angel Carrier | June 23, 2022 | Health Care Reform
What is the PCORI Fee? The Affordable Care Act established the Patient-Centered Outcomes Research Institute (PCORI) to explore the effectiveness, risks and benefits of medical treatments. The fees were originally scheduled to be collected for plan years and policy...
