SEARCH

Showing 802 results found

Challenges in the High Limit Disability Market

One of the most vital coverages for high-income earners is high limit disability protection. With athletes, celebrities, executives, financiers and attorneys making millions of dollars per year, the greatest threat they face to their income stream and lifestyle is a serious disability. And because the major domestic disability carriers (e.g., MetLife, UNUM, etc.) won’t insure more than a million dollars in annual income – the maximum now is $50,000 in monthly coverage at a 60% income replacement – these high earners are forced to look towards the Lloyd’s of London high limit marketplace for the additional coverage …

https://www.epicbrokers.com/insights/challenges-high-limit-disability-market/

HR Technology Trends: Prepare for Outsourced Benefits Administration Service Fee Increases

We’re in the thick of fourth-quarter madness. Open enrollment is always a difficult time for benefits administration and human resources (HR) teams and turnover is common, but issues appear to be different than in previous years. And like many employers, outsourced administration firms are experiencing a shift in their staffing, commonly referred to as “The Great Resignation.” We’re observing these staffing issues and the resultant slow in response times and quality firsthand, and so are our clients. Viewpoints from Virginia Talbot Outsourced administration firms need to balance labor costs and revenue carefully in the best of times …

https://www.epicbrokers.com/insights/hr-technology-trends-outsourced-benefits-administration-service-fee-increases/

Supreme Court Set to Review Section 1557 Disability Discrimination Case

On December 7, 2021, the Supreme Court of the United States (SCOTUS or the Supreme Court) will hear oral arguments in CVS Pharmacy, Inc. v. John Doe. The case involves claims by the plaintiffs, named John Doe to protect their anonymity, against their employer health plans’ pharmacy benefits manager (PBM) CVS Caremark. According to the claimants’ filings, changes to the PBM’s policy on in-network access to specialty drugs disproportionately affects individuals with human immunodeficiency virus (HIV) or acquired immunodeficiency syndrome (AIDS). The Supreme Court accepted the case for review to settle the alleged disparate-impact cause of actions …

https://www.epicbrokers.com/insights/supreme-court-review-section-1557-disability-discrimination-case/

IRS Announces 2022 Health FSA & Qualified Transportation Limits

… 2021. Health Flexible Spending Arrangements The annual contribution limit of $2,850 for health FSAs applies specifically to employee contributions: The same limit applies for general-purpose and limited-purpose health FSAs. Employer contributions are not subject to the limit but are subject to different restrictions under healthcare reform rules. Employee Health FSA Contributions Employee contributions subject to the $2,850 annual limit include: Amounts deducted pre-tax from an employee’s compensation through a cafeteria plan; and Employer flex credits that the employee has the option to use toward cash or other taxable benefits. Employees may elect up to …

https://www.epicbrokers.com/insights/irs-2022-health-fsa-qualified-transportation-limits/

OSHA Releases Emergency Temporary Standard Regarding COVID-19 Vaccination Mandate

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. All unvaccinated workers must begin wearing masks by December 5, 2021, and provide a negative COVID-19 test on a weekly basis beginning January 4, 2022. Employers are encouraged to take necessary steps to comply with the ETS. On Saturday, November 6, 2021, just two days after …

https://www.epicbrokers.com/insights/osha-emergency-temporary-standard-covid-vaccination-mandate/

Market Pulse Survey: Your Approach to the New COVID-19 Vaccination Requirement for Large Employers

Your Approach to the New COVID-19 Vaccination Requirement for Large Employers On Thursday, November 4, the U.S. Department of Labor, Occupational Safety and Health Administration (OSHA) issued an emergency temporary standard (ETS) in response to President Biden’s vaccination mandate announcement on September 9. According to the ETS, employers with 100 or greater employees will need to implement a COVID-19 vaccination requirement for their employees – and offer a weekly testing alternative to those who refuse or are unable to receive a vaccine – by January 4, 2022. While appeals of the ETS are underway in federal court, in …

https://www.epicbrokers.com/insights/market-pulse-survey-your-approach-to-the-new-covid-19-vaccination-requirement/

Webinar Recording Now Available: Does Your Architect & Engineering Firm Need a Competitive Advantage?

… that A&E job candidates demand Tips on increased flexibility to perks that matter A preview of employer-sponsored health plan trends from our 2021 National Architect & Engineering Employee Benefits Survey Industry-specific benchmarking for dental, life, and disability health plan What benefit types should be part of a comprehensive benefits package What modern and competitive A&E firms are doing today to stand out in the recruiting and hiring process PLAY RECORDING Featured Speakers: Suzannah Gill, Architect & Engineering National Benefits Practice Leader, EPIC Joanne Tran, Architect & Engineering West Region Benefits Practice Leader, EPIC Blake O’Brien, Head of Architectural …

https://www.epicbrokers.com/insights/does-your-architect-engineering-firm-need-a-competitive-advantage/

Medical Loss Ratio Rebates: What They Are & How They Should Be Handled

… any portion of a plan’s premium, the employer must calculate how much of any MLR rebate should be considered plan assets, meaning that the rebate should be used strictly for the benefit of plan participants. Decisions about how to allocate the participants’ portion of the rebate are subject to Employee Retirement Income Security Act (ERISA)’s general standards of fiduciary conduct. Background Included in the Affordable Care Act (ACA) were new rules that required health insurance companies to disclose certain financial data. This includes the portion of medical plan premiums spent on paying claims and quality improvement initiatives and …

https://www.epicbrokers.com/insights/medical-loss-ratio-rebates-what-they-are-how-handled/