Interview With Cyber Security Expert
President Trump Signs Executive
Employer Reporting –
Medicare Part D Notice Reminder:
Articles
How Employers Should Handle MLR Rebates
Thursday, October 19, 2017
For the sixth year in a row, employers who sponsor an insured group health plan may be receiving a Medical Loss Ratio (MLR) rebate from their insurers. Self-funded medical benefit plans are not subject to these requirements. The rebates raise several fundamental questions for employers, including: How much (if any) of the rebate must be […]
Interview With Cyber Security Expert
Nick Casillas – Introduction from
Parker, Smith & Feek’s Tim Schmidt
Wednesday, October 18, 2017
We all remember the first email we received from a “foreign dignitary” offering us a ridiculous sum of money in exchange for paying a small amount of taxes, claiming the funds had come from an unknown distant relative.
Contraceptive Exemption Expansion
Tuesday, October 17, 2017
On October 6, the Department of Health & Human Services (HHS) released two separate interim final rules, with immediate effective dates, broadening the religious or moral exceptions to the general ACA rule requiring that group health plans offer contraceptive coverage with no cost-sharing. The rules were provided in response to President Trump’s executive order issued […]
President Trump Signs Executive
Order Permitting the Creation of “Association” Health Plans
Monday, October 16, 2017
President Trump has signed an executive order instructing regulatory agencies to draft new rules permitting the creation of “association” health plans, expanding Health Reimbursement Accounts (HRAs), and extending the time for which coverage can be offered under short-term health insurance policies. It is important to note that the executive order only instructs the regulatory agencies […]
Legislation Introduced to Simplify Employer Reporting
Friday, October 13, 2017
As employers prepare for the third year of ACA-related reporting, new bipartisan legislation has been proposed that provides a glimmer of hope for the possibility that changes will be made to current IRS requirements. The “Commonsense Reporting Act of 2017,” introduced by Senators Portman (R-OH) and Warner (D-VA), would significantly simplify ACA-related employer reporting. Background […]
Employer Reporting –
2017 FINAL Forms and Instructions
Thursday, October 5, 2017
The IRS has released the 2017 final forms and instructions for the ACA employer reporting requirement.
Graham-Cassidy Update: Senate Tries to Repeal the ACA One More Time
Tuesday, September 26, 2017
On September 13, 2017, Senate Republicans introduced a bill (referred to as The Graham-Cassidy bill) to try, one more time, to repeal and replace portions of the ACA.
Common Gaps in Disability Insurance
Wednesday, September 20, 2017
Disability insurance can be even more important for manufacturing companies than other employers. Manufacturing organizations typically have an older population with long tenure and employees historically suffer with chronic conditions. Employees usually experience higher than average musculoskeletal incidence and absenteeism due to the nature and repetitive motion of their jobs.
Wellness Program Updates
Wednesday, September 20, 2017
New developments have arisen in the wellness area recently. One recent court case challenges the validity of the final regulations, and another alleges that Macy’s failed to comply with the final rules. The final rules establish how a wellness program should be structured to avoid violating nondiscrimination rules under HIPAA, the Americans with Disabilities Act (ADA), and the Genetic Information Nondiscrimination Act (GINA).
Medicare Part D Notice Reminder:
Deadline of October 14th
Wednesday, September 13, 2017
Employers with group health plans that provide prescription drug coverage to individuals who are eligible for Medicare Part D must comply with certain disclosure requirements.
Group health plan sponsors must disclose to individuals who are eligible for Medicare Part D whether their prescription drug coverage is at least as good as the Medicare Part D coverage (in other words, whether their prescription drug coverage is “creditable”). These disclosures must be provided each year prior to Medicare’s annual open enrollment period, and at certain other designated times. The annual open enrollment period for Medicare Part D is October 15th through December 7th, so notices must be provided by October 14th.
Employer Reporting – 2017 Draft Forms and Instructions
Monday, September 11, 2017
The IRS released the 2017 draft forms and instructions for the ACA employer reporting requirement. The 2017 draft forms and instructions are very similar to those used for 2016. Given that they have only minor changes (along with a few clarifications of existing requirements), the most significant change is the deletion throughout of anything referring […]
6 Common Gaffes to Avoid When Considering a Self-Funded Plan
Monday, September 11, 2017
Self-funding is a common method for employers over 100 employees to avoid the costs of a fully insured medical plan. A fully insured plan takes all of the claims risk from an employer group to the insurance company and collects a premium to do so.
Twitter
LinkedIn
Facebook
YouTube