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World Mental Health Day: Feel Empowered About Your Mental Health… Every Day

Viewpoints from Erin Milliken and Kerry Connor Mental health and emotional wellbeing are two terms that are used interchangeably in our day-to-day lives. Though both are related, it is important to understand the differences and techniques to improve both. Mental health involves overall psychological wellbeing – which includes a person’s emotional wellbeing and is based on how a person feels, acts, and thinks through life’s challenges. Emotional wellbeing refers to an individual’s ability to handle and express emotions when facing challenges. For instance, when a person faces a mental health struggle like anxiety or stress (typically …

https://www.epicbrokers.com/insights/world-mental-health-day-feel-empowered/

There Are Options When Your Healthcare Premium Blows Up

Viewpoints from Craig Hasday With record-breaking general inflation rates, the specter of significant medical insurance cost increases has been looming over employers and individuals alike. This comes in the wake of Kaiser Permanente’s high-teen renewal increases released recently. The good news is that it seems these increases may be significantly lower than initially expected. Nevertheless, many employers are still grappling with medical insurance cost increases that are dramatically higher than what they experienced during the years of COVID-driven cost suppression. It is crucial for employers that are facing unaffordable increases in their medical insurance costs to …

https://www.epicbrokers.com/insights/healthcare-premium-options/

Compliance Matters Newsletter | October 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 IRS Employer Health Plan Coverage Affordability Considerations Recently, the Internal Revenue Service (IRS) significantly decreased the affordability percentage from 9.12% in 2023 to 8.39% in 2024. Under the Affordable Care Act (ACA) employers must offer coverage to employees that is “affordable” or risk facing penalties. Employers have the option to use one of three IRS affordability safe harbors to provide more predictability when determining whether …

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

Navigating HIPAA Compliance

While Plan Administrators handle various daily operations within their health and welfare benefit plans, certain essential operational features are outsourced to external service providers. These operational tasks often involve handling protected health information (PHI). Since 1996, the Health Insurance Portability and Accountability Act (HIPAA) has governed the standards for safeguarding and transmitting PHI between covered entities and business associates. When a Plan Administrator enlists a service provider to execute tasks for their benefit plan, that service provider assumes the role of a business associate. Under the same regulations as covered entities, business associates are required to protect PHI. The exchange …

https://www.epicbrokers.com/insights/navigating-hipaa-compliance/

Way to Wellness Newsletter | October 2023

Conflict Resolution Conflict is a normal part of any healthy relationship. Whatever the cause of disagreements and disputes at home or work, there are methods that can help you constructively resolve tension and keep your relationships healthy and strong. To help your employees effectively resolve conflicts, share these resources: Copy the Employee-Facing Email Conflict Resolution Download the Word file, then copy and paste the graphic and text into a fresh email to deploy to your workforce. Post the Monthly Wellness Tips Conflict Resolution Share the monthly tips PDF to your intranet, HR portal, or post it in common office …

https://www.epicbrokers.com/insights/way-to-wellness-newsletter-october-2023/

What Does Blue Shield of California’s New Unbundled Pharmacy Model Mean to Employers?

… quo. So, what does this news mean to employers? Employers seeking lower costs should proceed cautiously. This new model is a great opportunity to request stronger guaranteed discounts, rebates, and even trend guarantees. These types of guarantees are not generally available in traditional carve-in models, where medical and pharmacy benefits are bundled together. Pharmacy carve-out is likely necessary, and a market check is essential even if there is no intention to change PBMs. By negotiating for these guarantees, employers can ensure they are receiving the best possible pricing for their employees’ prescription medications. Additionally, employers should request the …

https://www.epicbrokers.com/insights/blue-shield-unbundled-pharmacy-model-and-employers/

Compliance Matters Newsletter | September 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 The Facts About Potential California Long-Term Care Legislation State-managed Long-Term Care (LTC) programs are a focus of many state legislatures, including California. California released the results of a Long-Term Care Task Force feasibility study in December 2022 and intends to release an actuarial study in January 2024. While no legislation has been introduced in California yet, employers and employees should be aware of …

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

Legislation to Reform the ACA’s Employer Reporting Requirements

Employers have long sought relief from the burden of the reporting requirements under Sections 6055 and 6056 of the Affordable Care Act (ACA) for enforcement of the individual and employer mandates. Currently, employers and health insurance providers that provide minimum essential coverage must report information for each covered individual to the Internal Revenue Service (IRS), including the covered individual’s social security number. Employers and providers must also send a copy of this information to the covered individual (through tax forms 1095-B and 1095-C) by January 31 of each year. The error rate of 82% is indicative of …

https://www.epicbrokers.com/insights/legislation-reform-acas-employer-reporting-requirements/