News

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...

Proposed Extension 2022 Employer Mandate- 1094/1095 Reporting Requirements for 2021

Applicable large employers (ALEs) are required to report information about the health coverage they offered, or did not offer to employees for 2021. ALEs are generally entities that employed 50 or more full-time and full-time-equivalent (FTE) employees in the prior...

Surprise Billing and Transparency- Employer Notice Requirements

The Consolidated Appropriations Act, 2021 (CAA), signed into law last year, has introduced new restrictions on "surprise" out-of-network health care charges and new Transparency rules impacting health care providers, insurers and health plans. Included in the...
Recent Articles

Employer Requirement – Creditable Coverage Notice Due October 15th

By Angel Carrier | Sep 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.

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