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EPIC Grows Northwest Team with Mastroni Addition

Pacific Northwest Expands with Mastroni Addition EPIC is excited to announce that Mike Mastroni has joined the firm as Executive Managing Principal Pacific Northwest. In his new role, Mastroni will continue to expand the company’s presence in the Northwest, including growing our employee benefits and property and casualty practices and identifying acquisitions for the region. Mastroni will report to West Region President KJ Wagner and will work alongside the West leadership team. Mastroni joins EPIC with more than 22 years of experience in commercial and executive risk, and serving in such roles as Producer, Profit Center Leader, Branch Manager …

https://www.epicbrokers.com/insights/epic-welcomes-mike-mastroni/

Compliance Matters Newsletter | July 2023

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 COVID-19 Relief for HDHPs Is Ending In March 2020, the Internal Revenue Service (IRS) provided relief for COVID-19 testing and treatment. In March 2023, the Departments released updated guidance extending high deductible health plan (HDHP) relief until further notice. In June 2023, the IRS released Notice 2023-37 ending HDHP relief for COVID-19 testing and treatment on or before December 31, 2024. PCORI Fee …

https://www.epicbrokers.com/insights/compliance-matters-newsletter-july-2023/

Are Your Employees Asking About Weight-Loss Drug Coverage? They Will Be…

Viewpoints from Craig Hasday The press is full of headlines, fueled by celebrity endorsements, about the new miracle glucagon-like peptide 1 (GLP-1) weight loss drugs: Ozempic, Wegovy, and Mounjaro – and guess what? They work, with reports of as much as 15% of body fat loss achieved over a year or less. As we all know and have been preaching in our wellbeing initiatives, obesity poses significant health risks and financial burdens for individuals and employers alike. The average cost of GLP-1 weight loss medications, such as Ozempic, is approximately $14,000 per year. We also know that …

https://www.epicbrokers.com/insights/weight-loss-drug-coverage-viewpoints/

Employer Communications May Prevent Millions in Employee Forfeiture from SFCO Funds

San Francisco’s City Option Holds Millions in Unused Funds The San Francisco City Option (SFCO) was established in 2008 to provide employers with a way to comply with San Francisco’s Health Care Security Ordinance (HCSO). The HCSO requires employers with 20 or more employees, and nonprofit employers with 50 or more employees, to pay a per-hour healthcare expenditure for each covered employee. Employer contributions to the City Option provided covered employees a way to pay for certain qualifying medical expenses, including insurance premiums. Once the account was opened and after the initial payment was made, employers were …

https://www.epicbrokers.com/insights/employee-forfeiture-sfco-funds/

Healthcare Costs Are Rising – How Will You Prepare?

Viewpoints from Craig Hasday COVID-19 surely did one thing – it caused dramatic suppression of medical claim costs and for at least two years, medical “trend” disappeared. In 2023, we got a taste of trend bounceback. Inflation, new technologies, and new medications created a triple whammy, which may even have been triggered by the deferral of care during the pandemic. My advice is to strap in – a firestorm is coming. No doubt there has been growing concern about the emergence of significant, potential large claim liability driving up healthcare costs for all sizes of employers. According to the Centers for …

https://www.epicbrokers.com/insights/rising-healthcare-costs-prep/

Compliance Matters Newsletter | June 2023

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 DOL Life Insurance Settlement Is a Warning to Plans and Issuers A recent settlement requires Prudential to revise certain practices after an investigation found that the company collected life insurance premiums through employer payroll deductions from participants but denied claims for lack of participant evidence of insurance. As part of the settlement Prudential must notify plan sponsors of these new corrective actions and requirements moving forward. Multiple …

https://www.epicbrokers.com/insights/compliance-matters-newsletter-june-2023/

EPIC Bolsters Private Client Leadership Team on West Coast

Kevin Daley Joins the EPIC Team Adds over 25 years of experience in commercial and personal lines in both the insurance carrier and broker spaces. EPIC has added Kevin Daley as President, Western Region Private Client Leader. The addition of Daley, who has more than 25 years of experience in the insurance industry, underscores the brokerage’s commitment to the private client segment and growth in the Western region. “We are excited to welcome Kevin to our national private client management team,” said Tim Brenneman, President and Private Client Practice Leader. “We have already made great strides with our client …

https://www.epicbrokers.com/insights/kevin-daley-joins-epic/

Large Claims Alarms Are Signaling Healthcare Cost Spikes

Viewpoints from Craig Hasday Regardless of your plan’s size or funding arrangement, prepare yourself. Large claims are coming. According to a QBE report, claims over $200,000 increased by 17% from 2020 to 2021. While it was harder to see through the crystal ball during the COVID-19 years, it is starting to get clearer again. This trend will continue. There are several factors in play. COVID-19 claims are expected to diminish, however, the cost of deferred care is emerging. Circulatory claims are on the rise, but more acutely, the cost of high-cost therapies is expected to …

https://www.epicbrokers.com/insights/large-claims-signaling-healthcare-cost-spikes/