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… first is individual coverage, or specific stop loss, which restricts the plan’s monetary risk of any individual claimant to a pre-established limit. The second is aggregate stop loss, which limits risk exposure for all claimants to a pre-set maximum. After the elimination of annual and lifetime maximum benefits for covered individuals, introduced by the Affordable Care Act in 2010, things got riskier. Today’s stop-loss environment has become very complicated, and an employer should choose their broker/consultant carefully. Up until a few years ago, it was rare for individual claims to exceed $1 million, but …

Viewpoints from Craig Hasday On December 23, 2022, President Biden signed the Secure Act 2.0 into law as a part of a $1.7 trillion omnibus spending package. I have been anxiously awaiting this legislation. In a 2018 private letter ruling, Abbot Labs was allowed to make matching employer contributions to 401(k) plans for student loan repayments made by their employees. Private letter rulings (PLRs) are not law but apply to a specific situation for which the PLR is written. I have been advising employers to jump on this change whenever this law (which I thought was inevitable …

Note from the author: I took a pause in publishing my weekly healthcare blog (which some of you longtime followers may recall as “Frenkely Speaking”). My 2023 New Years’ Resolution is to dust off the writing hat and bring you regular EPIC Viewpoints again. It’s good to be back. Viewpoints from Craig Hasday Since the computer v. human chess games of long ago, I realized that the importance machines would play in our lives over time would accelerate. The time is now. Healthcare is no doubt one of the most powerful examples of how artificial intelligence (AI) has improved …