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Q2 2021 Winery Report

… risk management expenses, against sales. This ratio can be charted over time to illustrate the success of the organizations’ risk management program, and the value EPIC has effectively delivered to our clients’ bottom line. To eliminate the inference of bias towards insurance products, EPIC may offer a ‘performance based’ compensation arrangement around the TCOR concept, removing commissions from the equation entirely. The Result: You take pricing and turn it into a true ROI. While no one knows how the insurance market will ultimately respond to the situation we are facing here in California, what we do know is that things …

https://www.epicbrokers.com/insights/q2-2021-winery-report/

Special Compliance Alert: IRS Releases 2022 HSA & HDHP Limits

Quick Facts The IRS updates HSA and HDHP limits annually for inflation. On May 10, 2021, the IRS released Revenue Procedure 2021-25 updating maximum HSA contribution limits, cost-sharing limits for HDHPs and the maximum amount that may be made available for an excepted benefit HRA in 2022. Overview The Internal Revenue Service (IRS) recently released Revenue Procedure 2021-25, which includes the 2022 inflation-adjusted amounts for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs). These limits include the maximum HSA contribution limit, the minimum deductible amount for HDHPs, the …

https://www.epicbrokers.com/insights/special-compliance-alert-irs-releases-2022-hsa-hdhp-limits/

Blue Cross Blue Shield (BCBS) Antitrust Settlement Update

… changes employers will see (and perhaps benefit from) will be the changes to the Blue Cross members’ practices, which should result in increased market competition and lower payments for employers and employees alike. [1] Insured Groups include both employers and other groups (e.g., Taft-Hartley plans, multi-employer welfare arrangements, association health plans, retiree groups, and other non-employer groups). [2] Self-Funded Accounts include both employers and other groups (e.g., Taft-Hartley plans, multi-employer welfare arrangements, association health plans, retiree groups, and other non-employer groups). EPIC Employee Benefits Compliance Services For further information on this …

https://www.epicbrokers.com/insights/blue-cross-blue-shield-bcbs-antitrust-settlement-update/

Why Employers Should Map Their COVID-19 Strategies Now

… supply catches up to demand) on-site vaccine administration may become available to any employer, at the current time, it is only available to medical providers, nursing homes, and assisted living facilities – and only in some states. But at some point, like flu shots, you will likely be able to arrange COVID-19 vaccines at your location. It is important to stay close to health departments in the states in which you operate to understand specifically how vaccine supply will be released to your employees. It is extremely likely that certain groups of your employees will be eligible for the …

https://www.epicbrokers.com/insights/employers-should-map-their-covid-19-strategies-now/

The Rise of Telemedicine: Minimizing Malpractice and Patient Safety Risks for Hospitals and Health Systems

… Institutions should review medical staff by-laws and credentialing processes with medical staff leadership and consider revising by-laws and processes to incorporate the use of telemedicine care. Care should be taken to ensure that administration of medication and controlled substances maintains or improves upon in-person medication management. If evaluation of a patient through a telemedicine platform proves less effective than in-person care, mitigate the risk by arranging an in-person appointment. Conclusion The sudden and rapid adoption of telemedicine on a broad basis is a welcome event in the medical community, yet it is not without …

https://www.epicbrokers.com/insights/the-rise-of-telemedicine-minimizing-malpractice-and-patient-safety-risks-for-hospitals-and-health-systems/

The Rise of Telemedicine: Minimizing Malpractice and Patient Safety Risks for Physicians and Physician Practices

… and controlled substances maintains or improves upon in-person medication management. If evaluation of a patient through a telemedicine platform proves less effective than in-person care, mitigate the risk of providing the incorrect medication or dosages by arranging an in-person appointment. Conclusion The sudden and rapid adoption of telemedicine on a broad basis is a welcome event in the medical community, yet it is not without risks for medical providers. Vendor relationships, use of advanced practice providers, adherence to state licensure and regulations, reimbursement requirements, compliance with HIPAA regulation, and knowledge of standard of care and malpractice …

https://www.epicbrokers.com/insights/the-rise-of-telemedicine-minimizing-malpractice-and-patient-safety-risks-for-physicians-and-physician-practices/

Law Firm Benefits, Risk & Insurance: 21 Predictions for 2021

… in the state where they are licensed or admitted. 2. Evaluation of Geo-Based Salary Structure Does it make sense to still pay people differently based on their geographies? If employees are remote and choosing where to live, should firms pay more to those who voluntarily choose to live in higher-cost locations? 3. Assessment of Real Estate Strategies Some firms will consider moving to a more permanent virtual office arrangements, abandoning the traditional office space. This will create an opportunity to reduce real estate costs, but comes with even more pressure on IT infrastructure.  Firms are also considering a

https://www.epicbrokers.com/insights/law-firm-benefits-risk-insurance-21-predictions-for-2021/

Special Compliance Alert: Consolidated Appropriations Act, 2021 Expands Cafeteria Plan Flexibility

… will impact employers who sponsor cafeteria plans that include health flexible spending arrangements (HFSA) and dependent care flexible spending arrangements (DCAP). Cafeteria Plan Provisions Generally HFSAs and DCAPs must operate under strict IRS rules that dictate that funds not used during a year must be forfeited – the so-called “use-or-lose” rule. The IRS several years ago did begin to permit HFSAs to allow up to $500 (recently increased to $550) to be carried over to the subsequent plan year. No similar carryovers have been permitted under DCAPs. Congress recognized that many individuals are facing vastly different health …

https://www.epicbrokers.com/insights/special-compliance-alert-consolidated-appropriations-act-2021/