SEARCH

Showing 146 results found

Checklist for Strategic and Compliant Employee Benefit Plan Communications

… small amounts of benefits information using new technology (such as videos, texts and mobile apps) will lead to greater perception of value in employee benefits. Understanding Individuals can take full advantage of benefits only if they understand what options are available and how they work. FSAs, HSAs and health reimbursement arrangements (HRAs) require additional targeted campaigning to avoid confusion and encourage buy-in. Employees who understand their coverage options and feel empowered to enroll make better-informed, cost-effective health care decisions. Drive Enrollment If you offer HDHPs, strategic communication and implementation is essential for securing employee participation, maximizing enrollment …

https://www.epicbrokers.com/insights/checklist-for-strategic-and-compliant-employee-benefit-plan-communications/

Cost Modeling Projections

… claim with lifetime medical costs that can easily be in the millions of dollars. Typically, these patients, even when in an employer plan are Medicare-eligible. Employers should consider their obligations to establish a Workers Compensation Medicare Set-Aside Arrangement to indemnify Medicare for the medical costs they pay resulting from workplace diseases or accidents. Summary As of the date of this publication, our model calculates net decrease in healthcare spending of $135B in 2020 and an increase of $36B in 2021 as a result of all impacts of COVID-19. In this context payers include all private health …

https://www.epicbrokers.com/insights/cost-modeling-projections/

Why Now Is the Time to Address Your Employees’ Mental Health

… shortage of providers. Primary care doctors in fee-for-service arrangements are under-reimbursed for treating mental health and often prescribe medications without much follow-up care. Kaiser indicated that 50% of California mental health providers have moved to cash-only practices – so those seeking care in-network will have fewer resources to which they can turn. Kaiser Permanente’s response has been to increase access to providers and to integrate more expansive mental health treatment with primary care and other specialties. They have also increased telepsychiatry and embedded additional online resources and digital tools supported by live counselors …

https://www.epicbrokers.com/insights/now-is-the-time-to-address-your-employees-mental-health/

Covering Coronavirus: Risk Considerations Volume 1, Issue 15

… for small business owners. While the program would not apply to the current crisis, it would apply to pandemics occurring after January 1, 2021. A few details of the proposed legislation include the following: Covered public health emergencies would be certified by the Secretary of Health and Human Services The aggregate annual coverage cap would be $750 billion The definition of “Insurer” in the bill includes captives and self-insurance arrangements Alternative legislation had been proposed by insurer industry associations that would have called for a similar program to be funded by taxpayers. Maloney indicated there was no movement for

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-15/

Patient-Centered Outcomes Research Institute (PCORI) Fee Payment Due July 31

… Health Plan: A self-insured health plan established or maintained by employers for their workers and/or retirees. “HIPAA-excepted benefits” (discussed below) are exempt from the fee. The plan sponsor (employer) is responsible for calculating and paying the fee for its self-insured health plans. For a health reimbursement arrangement (HRA) that is integrated with a self-insured major medical plan, the fee applies only once to the integrated plan (due to the “multiple self-insured plans” non-duplication rule). However, if the HRA is integrated with an insured medical plan, the employer will pay the fee with respect …

https://www.epicbrokers.com/insights/pcori-fee-payment-due-july-31/

Survey Highlights Accounting Industry's Response to SBA Paycheck Protection Program

… the firms surveyed reported advising and assisting clients with gathering the documentation necessary to prepare the PPP loan application. Eighty-five (85%) reported assisting clients with the required average monthly payroll calculation required for the application. Less than half (46%) reported assisting clients with preparing the actual loan application. Fee arrangements for PPP-related services vary based on the specific advisory services provided. Time and materials arrangements were common to all firms surveyed. Only 25% of firms reported the use of fixed fee arrangements. Fifteen percent (15%) of the firms indicated that in certain instances, no fees were charged for …

https://www.epicbrokers.com/insights/survey-highlights-accounting-industrys-response-to-sba-paycheck-protection-program/

IRS Relaxes Section 125 Election Change Rules, Expands Grace Periods and Carryovers

… will not cause an HDHP to fail to be an HDHP, nor would it render someone ineligible to contribute to an HSA. For example an otherwise eligible individual with coverage under an HDHP, who also received coverage beginning February 15, 2020, for telehealth and other remote care services under an arrangement that is not an HDHP before satisfying the HDHP deductible, will not be disqualified from contributing to an HSA during 2020. Conclusion These continue to be trying times, but the IRS remains committed to helping employers and employees who are grappling with difficult plan coverage and administrative matters during …

https://www.epicbrokers.com/insights/irs-relaxes-section-125-election-change-rules/

Feds Extend Deadlines for Certain Plan Filings

… or after April 1, 2020, and before July 15, 2020. The guidance is consistent with previous IRS announcements that provided similar taxpayer relief in connection with the COVID-19 pandemic. The DOL subsequently issued Disaster Relief Notice 2020-01 which confirmed that Form M-1 filings ‒ for multiple employer welfare arrangements (MEWAs) ‒ also get extended filing relief for the same period as the IRS Form 5500.  The regular deadline for annual Form M-1 filings is March 1, with an automatic 60-day extension available if timely requested. Since that extended deadline falls within the relief window, timely extended 2019 …

https://www.epicbrokers.com/insights/feds-extend-deadlines-for-certain-plan-filings/