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Fiduciary Rule Changes Require Better Plan Management

… of failing to negotiate lower prices for prescription drugs for its employee health plans – which allegedly resulted in millions of dollars in overpayments for generic drugs. One example cited in the formal complaint alleges that the J&J plan paid $10,200 for a generic multiple sclerosis drug called Teriflunomide, which costs no more than $77 at retail pharmacies. The suit alleges that J&J was negligent in monitoring the activities of their pharmacy benefit manager (PBM), which contracted to pay unreasonable drug costs at the expense of the plan participants and beneficiaries without securing corresponding benefits for them. The

https://www.epicbrokers.com/insights/fiduciary-rules-pharmacy-costs/

Plan Sponsors, Is it Time for a Retirement Offering Tune-Up?

Viewpoints from Jason Hamilton You should be sleeping like a baby now because you’ve nailed down your employee health benefits, even the ancillary ones. Bravo, you. But what about your retirement plan offerings? If they’re not keeping you awake, they likely are for your employees – nearly half of American households have no retirement savings. And many of the rest don’t have nearly enough saved. There’s a good reason you may have put it off. The challenges and pitfalls of managing retirement benefits are many: new legislation, fiduciary risk, and fee lawsuits, to name a few. EPIC …

https://www.epicbrokers.com/insights/retirement-plan-tuneup/

Compliance Matters Newsletter | February 2024

Let our team help you navigate the ever-changing benefits compliance landscape each month. Check out this month’s latest alerts, additional updates, and resources hot off the press: Employee Benefits Compliance Alerts This month’s Compliance Matters newsletter provides a comprehensive review of the following topics. To obtain your copy, please use the form below to download. Evolving Considerations for Gender Non-Discrimination San Francisco HCSO Top-Off Payments Due Soon Departments Provide Additional Guidance for Contraception Preventive Services 2024 State Regulation Series: Hawaii Prepaid Healthcare Act Download this month’s alerts Additional Updates & Resources Rules for Association Health …

https://www.epicbrokers.com/insights/compliance-matters-newsletter-february-2024/

Invest in Employee Financial Wellbeing with Student Loan Debt Paydowns

… the Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0. The SECURE Act 2.0 provides employers with the opportunity to amend their 401(k) plans to allow student loan debt repayments as an elective deferral starting on January 1, 2024. Employers can make matching contributions towards their employee’s qualified student loan repayments, whether or not the employee contributes to their 401(k) plan. For more information, check out our articles SECURE Act 2.0 – It’s About Time and 401(k) Plans, Student Loan Debt and the SECURE Act 2.0. There is another way employers …

https://www.epicbrokers.com/insights/employee-financial-wellbeing-student-loan-debt-paydowns/

The Well Newsletter | February 2024

… positive relationships and highlight some red flags that may indicate important adjustments are needed. Help your employees build and maintain healthy relationships. This month’s The Well newsletter provides messaging and tips for you to share with your workforce. To obtain your copy, please use the form below to download. Employee-Facing Email Download the Word file, then copy and paste the graphic and text into a fresh email to deploy to your workforce. Monthly Wellness Tips Share the monthly tips PDF to your intranet, HR portal, or post it in common office areas. Download this month’s resources Dive …

https://www.epicbrokers.com/insights/the-well-newsletter-february-2024/

Hitting Home: Progressive Family-Forming Benefits

Viewpoints from Kerry Connor Family-forming medical services have evolved over recent years into a popular addition to benefit offerings. The rules surrounding family forming are catching up to reflect much-needed inclusion in this realm, allowing equitable treatment for any person who’s dreamed of being a genetic parent to raise a child. The ability to form a family without medical assistance is often taken for granted – until you’ve personally experienced the gamut of emotions that come with the territory, you may not be able to fully appreciate what your understanding and action mean to those who need …

https://www.epicbrokers.com/insights/family-forming-surrogacy/

The Well Newsletter | January 2024

… the news, at work and through friends and family. But do you really understand how to make the most of it? What about the pitfalls your employees need to look out for when arranging for care? Share the information below with your employees to help simplify the complicated web of benefits for your population. This month’s The Well newsletter provides messaging and tips for you to share with your workforce. To obtain your copy, please use the form below to download. Employee-Facing Email Download the Word file, then copy and paste the graphic and text into a fresh …

https://www.epicbrokers.com/insights/the-well-newsletter-january-2024/

Compliance Matters Newsletter | January 2024

Let our team help you navigate the ever-changing benefits compliance landscape each month. Check out this month’s latest alerts, additional updates, and resources hot off the press: Employee Benefits Compliance Alerts This month’s Compliance Matters newsletter provides a comprehensive review of the following topics. To obtain your copy, please use the form below to download. Medicare Part D Disclosure to CMS Due Soon for Calendar Year Plans §4980H Employer Mandate Requirements & Penalties Review Requirement Reminder for Summary of Benefits & Coverage (SBC) Download this month’s alerts Additional Updates & Resources HHS Provides Proposed 2025 Notice of Benefit Payment …

https://www.epicbrokers.com/insights/compliance-matters-newsletter-january-2024/