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Guidance Released for Health Plan Coverage of OTC COVID-19 Tests

Quick Facts On January 10, 2022, guidance was released requiring group health plans and insurers to cover over-the-counter (OTC) COVID-19 diagnostic tests without cost-sharing or provider authorization. Coverage for COVID-19 OTC tests begins Saturday, January 15, 2022. Plans may choose to reimburse sellers of COVID-19 home test kits directly or reimburse plan participants directly for the purchase. The guidance applies to self-funded, fully insured, grandfathered and individual health plans. Background On January 10, 2022, the Department of Labor (DOL), Department of Health and Human Services (HHS) and the Treasury Department (“The Departments”) released …

https://www.epicbrokers.com/insights/guidance-health-plan-coverage-otc-covid-19-tests/

Sal Lona Joins EPIC

Addition Further Expands EPIC’s Employee Benefits Practice EPIC Insurance Brokers & Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that Sal Lona has joined the firm as Senior Principal as part of its Employee Benefits Practice. In his new position with EPIC, Lona will be a leader in the Los Angeles employee benefits practice focusing on growth, business development and client management. He will provide employee benefit consulting and strategy, which includes plan design and implementation, cost analysis, data analytics, technology resources, administration, communications, point solutions and helping clients fulfill long-term goals for …

https://www.epicbrokers.com/insights/sal-lona-joins-epic/

KJ Stephens Joins EPIC

Addition Further Expands EPIC’s Employee Benefits Practice EPIC Insurance Brokers & Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that KJ Stephens has joined the firm as Vice President within its Employee Benefits Practice. In his new position with EPIC, Stephens will be responsible for bringing new client relationships to EPIC. He will develop health and welfare plan strategies for his clients and deploy the EPIC team and resources needed to meet client goals. He will create strategies that take clients’ benefits to a high performing level. Reporting to Robyn Pawlo, Executive Managing Principal …

https://www.epicbrokers.com/insights/kj-stephens-joins-epic/

2021 ACA Employer Reporting Update: Permanent Extension to Provide Employee Forms & End of Transition Relief for Reporting Errors

Quick Facts The Internal Revenue Service (IRS) has released the 2021 IRS Affordable Care Act (ACA) Reporting Forms 1094 and 1095 and proposed regulations that permanently change the deadline for employers to provide copies of Form 1095 to employees. The final forms contain very few changes from prior years. The proposed final rules make permanent the 30-day extension the IRS has allowed in previous reporting years. Employers required to comply with state individual mandate reporting requirements may face different deadlines. Background The IRS has released the 2021 IRS ACA Reporting Forms 1094 and 1095 and proposed regulations that permanently …

https://www.epicbrokers.com/insights/aca-employer-reporting-permanent-extension-forms-end-transition-relief-errors/

W-2 Employer Reporting Review Guide

Quick Facts Since 2012, employers with greater than 250 employees must annually report the aggregate cost of healthcare coverage on employee W-2s. The aggregate cost is the entire plan cost, including both the employer and employee contributions. Certain excepted benefits are not required to be included in the aggregate healthcare cost. Background It is the time of year when large employers need to include the cost of healthcare coverage in employee W-2s. The Affordable Care Act (ACA) requires employers to report the “aggregate cost” of certain types of employer-provided health coverage on an employee’s W-2 …

https://www.epicbrokers.com/insights/w2-employer-reporting-review-guide/

Departments Issue CAA Drug Cost Reporting Requirement Guidance

Quick Facts Starting in 2022, employer-sponsored health plans, health insurance issuers (carriers) and pharmacy benefit managers (PBMs) will be required to submit certain information about prescription drug and healthcare spending to the Departments annually, following the requirements in the Consolidated Appropriations Act (CAA). Reports will include a variety of plan-related information that will be aggregated at the state or market level. The first report is due by December 27, 2022. Background The Department of Health and Human Services (HHS), Department of Labor (DOL) and the Department of the Treasury (collectively “the Departments”) have released an interim final rule …

https://www.epicbrokers.com/insights/caa-drug-cost-reporting-requirement-guidance/

IRS Updates PCORI Fee for Plan Years Ending After October 1, 2021

Quick Facts The Internal Revenue Service (IRS) recently released IRS Notice 2022-4 updating the Patient-Centered Outcomes Research Institute (PCORI) fees for plan years ending on or after October 1, 2021, through September 30, 2022. The payment for the respective plan years will be $2.79 per covered life. Plan sponsors may use one of three methods to determine the average number of covered lives for reporting and paying the PCORI fee. Background On December 21, 2021, the IRS issued Notice 2022-4, providing the adjusted PCORI fees for plan years ending in October 2021 through September 2022. Employers …

https://www.epicbrokers.com/insights/irs-updates-pcori-fee-plan-years-ending-after-october-2021/

Special Compliance Alert: Court Rules OSHA Vaccination Mandate Emergency Temporary Standard Can Move Forward

Updated from the original release on December 21, 2021 Quick Facts On November 4, 2021, the Occupational Safety and Health Administration (OSHA) released its highly anticipated emergency temporary standard (ETS) requiring businesses with 100 or greater employees to mandate their employees to get vaccinated against COVID-19 or wear a mask and test for COVID-19 on at least a weekly basis. The Sixth Circuit Court of Appeals overturned an earlier court ruling, meaning that now private employers with at least 100 employees will need to implement a mandatory vaccine program. OSHA has delayed enforcement of the testing requirement in …

https://www.epicbrokers.com/insights/court-rules-osha-vaccination-mandate-emergency-temporary-standard-can-move-forward/