2024 HSA Limits Announced
The IRS announced the HSA limits for 2024. The new single maximum contribution limit is increasing to $4,150 and the family maximum is increasing to $8,300. The 2024 HSA contributions, maximum out of pocket limits, and minimum deductible limits for High Deductible...Humana Announcement to Exit the Group Health Market
On February 23, 2023, Humana announced that they will be exiting the Employer Group Medical business, which includes all fully insured and self-funded group plans including Go365. To read their full announcement go full announcement and FAQ. They have communicated...Millions of Medicaid Members Will Soon Lose Coverage
During the COVID-19 Public Health Emergency (PHE) nearly all Medicaid, Children’s Health Insurance Program (CHIP), and Expansion members were able to stay enrolled in their current health coverage regardless of their eligibility. The PHE is now set to expire on May...Telehealth Relief for Health Savings Accounts (HSA)
The COVID-19 telehealth relief for health savings account (HSA) qualified high deductible health plans (HDHPs) was extended for two additional years as part of the 2023 Consolidated Appropriations Act. The extension allows pre-deductible telehealth relief for HSAs...Anthem Blue Cross Blue Shield and Christ Hospital- Agreement
The Christ Hospital Health Network (TCH) and Anthem Blue Cross and Blue Shield have reached an agreement on a new contract starting April 1, 2023. Their plan’s benefits will continue to cover care at all Christ Hospital Network locations with Christ Hospital Network...2023 Employer Mandate- 1094/1095 Reporting Requirements for 2022
Applicable large employers (ALEs) are required to report information about the health coverage they offered, or did not offer to employees for 2022. ALEs are generally entities that employed 50 or more full-time and full-time-equivalent (FTE) employees in the prior...New HDHP Safe Harbor for Insulin
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...2023 Affordability Safe Harbor- decreased
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...Employer Requirement – Creditable Coverage Notice Due October 15th
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.