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The Road Not (Yet) Taken: Surrogacy Benefits

… third party. While an employer plan can elect to extend a host of surrogacy services under its group medical program, it would need to remain cognizant of the cost of these services and ensure the plan is appropriately recognizing those services as taxable components of the program, and that they could give rise to taxable income for the employee. It’s also worth noting that some states have passed laws that expressly prohibit surrogate contract arrangements – including New York – and as such, employers must be careful not to inadvertently transgress any applicable laws by allowing for surrogate coverage or reimbursements.

https://www.epicbrokers.com/insights/the-road-not-yet-taken-surrogacy-benefits/

Compliance Alert: DOL Reveals Higher Health Plan Violation Penalties

… example, employers should make sure they are complying with ERISA’s reporting and disclosure rules, including Form 5500, annual CHIP notice and SBC requirements. ADJUSTMENTS FOR 2020 The increased amounts shown below apply to penalties assessed after January 15, 2020. Edit Requirement2019 Adjusted Penalty Amounts2020 Adjusted Penalty Amounts Failure or refusal to file an annual report (Form 5500) with the DOL (unless a filing exemption applies)Up to $2,194 per dayUp to $2,233 per day Failure of a multiple employer welfare arrangement (MEWA) to file an annual report (Form M-1) with the DOLUp to $1,597 per

https://www.epicbrokers.com/insights/compliance-alert-dol-reveals-higher-health-plan-violation-penalties/

Don’t Let Out-of-Network Balance Billing Happen to Your Team

… a nasty balance-billing surprise, and while some states have protections in place against surprise balance billing, these are limited by federal law. Most of our clients don’t have an issue finding in-network care but it has the potential to be very problematic if gone unaddressed. Typically, alternative arrangements can be made when an in-network provider is not available to an employee, and their provider will be treated as in-network for a service or series of treatments. This applies if the employee truly cannot find a provider – not that they just don’t like any of …

https://www.epicbrokers.com/insights/dont-let-out-of-network-balance-billing-happen-to-your-team/

Compliance Alert: IRS Announces Increased Limits for Certain Employee Benefits

The Internal Revenue Service (IRS) has released Revenue Procedure 2019-44 in which it has updated many key employee benefit limits that it adjusts annually to account for inflation. Effective for tax years beginning in 2020, the following limits will apply: IRC Section 125 health flexible spending arrangements (HFSA): $2,750/year IRC Section 132 qualified transportation fringe benefits: $270/month IRC Section 137 adoption assistance program expenses: $14,300/year (subject to phase out for individuals with adjusted gross income in excess of $214,520) IRC Section 9831 qualified small employer health reimbursement arrangement (QSEHRA): $5,250/year ($10 …

https://www.epicbrokers.com/insights/irs-announces-increased-limits-for-certain-employee-benefits/

Compliance Alert: COBRA Series, Part IV: Common Errors and How to Correct Them

… fail to collect COBRA premiums by the due date, extend due dates when premium grace periods apply, or discontinue coverage due to insignificant premium shortfalls. To avoid such failures, procedures should be in place to administer the required grace period and to address underpayment and late issues. FAILURE TO OFFER COBRA COVERAGE FOR ALL HEALTH PLANS Plan administrators should be sure to identify and offer continuation coverage for all health plans subject to COBRA. Some health plans are obvious, such as medical or dental plans, but often overlooked are health flexible spending accounts, health reimbursement arrangements (HRAs), as well as

https://www.epicbrokers.com/insights/compliance-alert-cobra-series-part-iv-common-errors-and-how-to-correct-them/

Cargo Insurance

Transportation & Logistics / Cargo Insurance Our Transportation & Logistics team understands the importance of managing the financial risks related to products moving throughout the global supply chain. Our unique understanding of logistics, knowledge of carrier financial responsibility and expertise has helped us design a comprehensive and competitive cargo insurance program suited for your business. We work only with top-rated insurers, so your policy is backed by financially secure carriers. CONNECT WITH OUR TEAM Let’s Talk Tailored Insurance from Top-Rated Carriers Logistics companies that arrange cargo insurance on behalf of their customers through our certificate issuance system receive a lot …

https://www.epicbrokers.com/industries/transportation-logistics/cargo-insurance/

Customs & Transportation Bonds

Transportation & Logistics / Customs Bonds Surety Bonds, Fast and Easy Customs brokers who arrange bond placement for their importers through EPIC get a lot more than just bonds at competitive rates. We work with you and deliver exceptional expertise, highly responsive service, and advanced automation. Our goal is to make your job easier and more efficient, resulting in your increased profitability. CONNECT WITH OUR TEAM Let’s Talk Real Value for Brokers and Importers User-friendly bond issuance and management eliminates the need to toggle multiple screens. Expedited filing of continuous customs and OTI (Ocean Transportation Intermediary) bonds by the Bond …

https://www.epicbrokers.com/industries/transportation-logistics/customs-transportation-bonds/

Music & Events

Our team of Music & Events specialists provide custom risk analysis and consultation and arrange for the insurance products needed by the touring entertainer, and for all other parts of the world of Entertainment. Entertainment & Sports / Music & Events Whether on tour in the U.S. or abroad, our team of Music & Events specialists provide custom risk analysis and consultation and arrange for the insurance products needed by the touring entertainer, and for all other parts of the world of Entertainment. In addition, we arrange Event Insurance for many of the leading production companies organizing festivals, major award ceremonies, industry exhibitions, after …

https://www.epicbrokers.com/industries/entertainmentandsports/music-events/