The ongoing COVID-19 pandemic has created new and unique challenges for employers, their workers, and their businesses. Group health plans and other employee benefit plans are one area of concern during these times. Here are some of the most-frequently asked questions we receive about COVID-19 and benefit plans: Do all medical plans cover COVID-19 testing? … Continue reading COVID-19 and Employee Benefits Plans
The Families First Coronavirus Response Act was signed into law on March 18, 2020. In the coming days and weeks, federal regulatory agencies, including the Department of Labor (DOL) and Health and Human Services (HHS), will provide guidance on how to execute or implement the new requirements. In the meantime, employers and advisors must rely … Continue reading Families First Coronavirus Response Act – What We Know So Far
How to Handle an Infectious Disease Outbreak MERS in the Middle East in 2012 – 2013. Ebola in West Africa in 2014 – 2016. Zika virus in South and Central America in 2016 – 2017. Pandemic influenza in the U.S. in 2009 and 2018. Coronavirus (COVID-19), beginning in China in late 2019 and spreading throughout … Continue reading Tips to Handle an Infectious Disease Outbreak – FAQ
Beginning in 2020, employers of all sizes may implement a new HRA design – an individual coverage HRA (ICHRA) – to reimburse their eligible employees for insurance policies purchased in the individual market or Medicare premiums. Final rules released by the Departments of Labor, Health and Human Services (HHS) and the Treasury (Departments) permit employers … Continue reading NEW ICHRAs – Employers Paying Individual Insurance Premiums
According to Optum’s Wellness in the Workplace study, more than 80% of employers plan to spend more on health care and wellness in the next year than in previous years. Health Care Spending The cost of providing employer sponsored health care has been steadily increasing over the years. According to the Kaiser Family Foundation, the … Continue reading Employers Are Expected to Spend More on Health Care and Wellness in the Next Year
OVERVIEW Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before Oct. 15, … Continue reading Medicare Part D Notices Are Due Before Oct. 15, 2019
Employers that sponsor group health plans should provide certain benefit notices in connection with their plans’ open enrollment periods.