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EPIC Welcomes Scott Boring

… with more than 25 years of experience developing and implementing strategies to drive growth and profitability. During his expansive career, Boring has demonstrated leadership, as well as sound internal financial management while controlling operational costs across complex projects to drive profitability and margin gains. “We are pleased to welcome Scott to our growing West operations,” said KJ Wagner, President of EPIC’s West region. “Scott will be a great addition to our employee benefits expertise in the territory, and his extensive background brings a wealth of knowledge and rich experience to the team.” Learn more about our Employee Benefits Practice.

https://www.epicbrokers.com/insights/epic-welcomes-scott-boring/

Compliance Matters Newsletter | March 2023

Prescription Drug Data Collection (RxDC) Reporting, Round Two The next round of prescription drug data collection (RxDC) reporting is due June 1, 2023. Employers may have more involvement than they did during the first round of reporting that was initially due December 27, 2022. No additional good faith relief or transition relief has been extended at this time. Employers should work with their carriers, third party administrators (TPAs), pharmacy benefits managers (PBMs), and brokers to ensure compliance. End of Emergency Periods Sparks Health Plan Compliance Requirements On January 31, 2023, the President announced that the Public Health Emergency (PHE) and …

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

Way to Wellness Newsletter | March 2023

Doomscrolling and How to Break the Cycle Social media is part of everyday life; many people turn to social media to get their news. But when the news is challenging, it’s easy to start “doomscrolling” – spending too much time (usually on a mobile phone) focusing on negative news. That can lead to anxiety and depression, and can contribute to employee burnout, decreased engagement and lower productivity. But there are ways for employees to avoid doomscrolling and protect their emotional wellbeing, just by creating a few new habits. Share these tools and tips: Copy the Employee-Facing Email Doomscrolling and …

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

Navigating the Maze of Employee Leave Programs

… benefits. Explaining these benefits to employees can create confusion or ill-will if they are misinterpreted, especially for an employee who is unable to work due to illness or injury, whether to themselves or a close family member. To start at the beginning – six jurisdictions have statutory short term disability benefits: New York, New Jersey, California, Hawaii, Rhode Island and Puerto Rico. The terms of these plans are written into state laws and can be expanded, but the regulations spell out the minimum benefits. Many employers augment these plans in states without a statutory requirement, or for those jurisdictions whose …

https://www.epicbrokers.com/insights/navigating-the-maze-of-employee-leave-programs/

Student Loans and SECURE Act 2.0

… 0, as part of the Consolidated Appropriations Act of 2023, student loan payments may now be treated as 401(k) elective deferrals for purposes of company matching contributions. As an example, a common 401(k) employer matching formula is 50 cents on a dollar up to six percent of an employee’s pay. Using this matching formula, an individual earning $50,000 a year with a six percent deferral of salary contributed into a 401(k) plan would result in a $3,000 salary-deferred 401(k) contribution and a $1,500 employer matching contribution. The new law would allow …

https://www.epicbrokers.com/insights/student-loans-and-secure-act-2-0/

Resumption of Medicaid Redetermination Rules Will Be Problematic for Employers

… a qualifying event. Many new hires were not recertified and could be ineligible for Medicaid under state guidelines. States will be required to develop a plan to avoid disruption, which would undoubtedly include information on electing enrollment under their employer’s plan. Employees who became accustomed to extremely generous Medicaid benefits will now be subject to employer plan cost-sharing. Although superior in many ways, the increase in cost burden may lead to employee dissatisfaction. Employers are advised to get ahead of this change. They should review plan waivers and assess potentially impacted employees. EPIC advisors can help you design …

https://www.epicbrokers.com/insights/medicaid-redetermination-rules-problematic-employers/

EPIC Welcomes Kevin Davis

… time you meet him. We are very excited to bring a consultant of his experience and caliber into the region as we continue to expand within the greater Philadelphia market,” says Tim Fitzpatrick, Northeast Region Employee Benefits Sales Leader. Kevin is a member of the National Association of Health Underwriters and serves on the Lehigh Valley Business Coalition on Healthcare Education and Wellness Committee. He is also a board member of Habitat for Humanity of Lehigh Valley, supporter of PBS39 and ArtsQuest, and serves as a ministry leader at Calvary Chapel in Quakertown. Learn more about our Employee Benefits Practice.

https://www.epicbrokers.com/insights/epic-welcomes-kevin-davis/

Compliance Matters Newsletter | February 2023

Check out this month’s Compliance Matters newsletter, your one-stop shop for benefits compliance news! The employee benefits landscape is in a state of constant change. Get timely, accurate news regarding impactful legislative changes – and the resulting requirements, exposures and opportunities. Employee Benefits Compliance Alerts San Francisco HCSO Top-Off Payments Due February 28, 2023 The San Francisco Health Care Security Ordinance (HCSO) requires covered employers to pay a certain amount – an Expenditure – toward their covered employee’s healthcare costs. If a covered employer does not meet the required Expenditure under a pay-as-you-go plan, it must …

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