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The Affordable Insulin Now Act Moves Through the House

With limited Republican support and a vote of 232-193, the U.S. House of Representatives passed the Affordable Insulin Now Act (Act). The Act, although narrower than President Biden’s Build Back Better framework, will have an impact on many of the 1.9 million diabetics in the United States. Type 1 diabetics are dependent on insulin every day and face an average monthly cost for the life-sustaining medicine of $375 to as high as $1,000 each month. The Health Care Cost Institute, an independent nonprofit that studies healthcare prices, notes that the price of insulin doubled …

https://www.epicbrokers.com/insights/affordable-insulin-now-act/

IRS Releases 2023 HSA & HDHP Limits

Quick Facts The Internal Revenue Service (IRS) updates High Deductible Health Plans (HDHP) and Health Savings Account (HSA) limits annually for inflation. In May 2022, the IRS released Revenue Procedure 2022-24 updating cost-sharing limits for HDHPs, maximum HSA contribution limits and the maximum amount that may be made available for an excepted benefit Health Reimbursement Arrangement (HRA) in 2023. Overview The IRS recently released Revenue Procedure 2022-24, which includes the 2023 inflation-adjusted amounts for HSAs, HDHPs and excepted benefit HRAs. These limits include the maximum HSA contribution limit, the minimum deductible amount for HDHPs, the maximum …

https://www.epicbrokers.com/insights/irs-releases-2023-hsa-hdhp-limits/

IRS Issues Proposed Rules to Fix the Affordability “Family Glitch”

… the way employer-sponsored coverage would be treated when determining if a family is eligible for premium tax credits (PTC) when purchasing individual health insurance through a public Marketplace. The proposed rules would fix the so-called “family glitch” that currently requires employer plan affordability to be based on the employee-only cost for coverage, while not taking into consideration the cost for the employee’s family to participate. The change would allow more spouses and dependents to qualify for premium tax credits toward the cost of individual health coverage purchased through a public Exchange. Current Rules and Proposed Changes …

https://www.epicbrokers.com/insights/rules-fix-affordability-family-glitch/

USERRA Benefits Requirements

… have worked for the employer. Benefit Continuation & Reinstatement The employer may have a special leave policy extending coverage eligibility for a period of time during military leave, but if not, it would be necessary to at least follow USERRA requirements. For leave protected under USERRA, the employer must give the employee the option to continue group health plan benefits for up to 24 months if coverage is in place when the leave of absence under USERRA commences. If an employee previously waived coverage, or the employee is still in a waiting period (i.e., coverage is not yet effective), there …

https://www.epicbrokers.com/insights/userra-benefits-requirements/

Market Pulse Survey: Parental Leave Policies

… top talent in the current employment environment Take our Paid Parental Leave Policy survey to see what other companies are doing to stay ahead of the Great Resignation. The stakes are high across the country – attracting and retaining talent has never been more challenging. Now is the time to ensure benefits, including parental leave policies, are competitive with the market. All who responded by Thursday, May 5 will receive a summary of the survey results. See our Related Insights on this topic! Looking Back at the Year and Forward to Family Benefits  Peace of Mind Should Be Top of Mind …

https://www.epicbrokers.com/insights/market-pulse-survey-parental-leave-policies/

Point Solutions – Improving Retention or Generating Burnout

The last couple of years ushered in a tsunami of products and innovations attempting to tackle a piece of the healthcare market. “Point solutions,” designed to address a niche of the $3 trillion health market (think: diabetes, mental health, orthopedics, infertility, fitness, financial wellness), and broad-scale disruptors of provider networks and member purchasing habits (Garner, Centivo, ELAP Services, Northwell Direct) have been sprouting up by the hundreds – all fueled by billions in venture capital backing and the incessant desire of employers to stand out in a super-competitive labor market with the broadest menu of product offerings. Optum Ventures …

https://www.epicbrokers.com/insights/point-solutions/

COVID-19 National Emergency Extended Timelines

Updated April 19, 2022 Quick Facts On February 18, 2022, President Biden formally extended the COVID-19 National Emergency for up to another year. The announcement extends the National Emergency declared as of March 1, 2020, which extended several specific notice and disclosure deadlines. The rules apply broadly to all employer-sponsored benefits subject to the Health Insurance Portability and Accountability Act (HIPAA), the Employee Retirement Income Security Act (ERISA) and the Consolidated Omnibus Budget Reconciliation Act (COBRA). The Original Rule The National Emergency was originally declared on March 1, 2020, and the Department of Labor (DOL) and Internal Revenue …

https://www.epicbrokers.com/insights/covid-19-national-emergency-extended-timelines/

Alert: New Guidance Expands ACA-Approved List of Women & Children’s No-Cost, Preventive Services

Quick Facts The Affordable Care Act (ACA) provides 58 million women and 37 million children access to preventive services with no cost-sharing. Additions to the list of covered preventive screenings aim to further reduce out-of-pocket expenses for women, infants, children and adolescents. Updates to preventive services include coverage for breast pumps and lowering the age for at-risk teens to 13 years of age for Human Immunodeficiency Virus (HIV) screening. The new guidelines take effect for plans starting in 2023. Background Under the ACA which was signed into law in March 2010, certain preventive services and screenings …

https://www.epicbrokers.com/insights/guidance-expands-aca-approved-preventive-services/