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 Jimmy Beatrice | May 3, 2022 | Employee Benefits, Employer Guidance
The IRS announced the HSA limits for 2023. The new single maximum contribution limit is increasing to $3,850 and the family maximum is increasing to $7,750.
by Jim Beatrice | January 17, 2022 | Employee Benefits, Employer Guidance
This update includes the following topics:
– Supreme Court ruling on OSHA’s vaccine mandates
– Over-The-Counter COVID tests
– 2023 Out-Of-Pocket Limits and PCORI Fee
by Jim Beatrice | November 22, 2021 | Employee Benefits, Employer Guidance
This update includes the following topics:
– House passes Reconciliation Package
– Enforcement of Vaccine Mandate Suspended
– Interim Final Rules (IFR) for CAA Prescription Drug Cost Reporting Requirements
by Jimmy Beatrice | November 18, 2021 | Employee Benefits, Employer Guidance, Health Care Reform, Recommended Articles
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...
