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IRS Updates the Health Plan Affordability Percentage for 2022

… plan coverage that is affordable. Coverage is generally considered affordable if the employee contribution for employee-only (single) coverage does not exceed a set percentage (9.61% in 2022) of household income. NOTE: Coverage is considered affordable for dependents as well, regardless of the contribution amount, as long as the employee-only (single) coverage is affordable. Coverage is also considered affordable for purposes of satisfying §4980H(b) requirements if the employee contribution satisfies at least one of three available safe harbors (i.e., federal poverty level (FPL), rate of pay, or Form W-2). Required Contribution Percentage   Originally, for 2014 …

https://www.epicbrokers.com/insights/irs-updates-health-plan-affordability-percentage-2022/

Executive Order Requiring COVID-19 Vaccine Mandates or Frequent Testing for Workers

Quick Facts In September 2021, President Biden directed the Occupational Safety and Health Administration (OSHA) to create rules requiring U.S. employers with 100 or greater employees to require COVID-19 vaccinations or weekly testing before coming to work. At the time of publication of this document, OSHA is still working to develop rules. President Biden will require COVID-19 vaccinations for workers in most healthcare settings that receive Medicare or Medicaid reimbursement. President Biden extended vaccine requirements for federal workers and contractors to be vaccinated against COVID-19. Background On September 9, 2021, an Executive Order from President Joe …

https://www.epicbrokers.com/insights/executive-order-covid-vaccine-mandates-frequent-testing/

COVID-19 Vaccine Incentives Employer Guide

Quick Facts Generally, employers are allowed to provide incentives to employees who obtain the COVID-19 vaccine. Employers that implement vaccine incentives must comply with wellness program rules under the Health Insurance Portability and Accountability Act (HIPAA) and the Equal Employment Opportunity Commission (EEOC). Employers that implement vaccine incentives must make considerations on issues such as Affordable Care Act (ACA) affordability, grandfathered status and Title VII discrimination. Overview Now that COVID-19 vaccinations are readily available to all but young children, more employers are looking to encourage, and in some cases mandate, employees and their family members to get vaccinated …

https://www.epicbrokers.com/insights/covid-19-vaccine-incentives-employer-guide/

Reminders About Upcoming Changes to Healthcare Spending Related to the COVID-19 Pandemic

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted on March 27, 2020. The law permitted flexibility to healthcare spending related to high-deductible health plans (HDHPs). The CARES Act also modified the rules that apply to various tax-advantaged spending accounts so that additional items are considered qualified medical expenses which spending accountholders and plan participants may reimburse from those accounts. The spending flexibility permitted under the CARES Act expires on December 31, 2021. On March 11, 2020, the Internal Revenue Service (IRS) issued a notice allowing HDHPs to cover testing for, and treatment of, COVID-19 …

https://www.epicbrokers.com/insights/reminders-upcoming-changes-healthcare-spending-covid-19-pandemic/

DOL & Insurers Reach Settlement Over Mental Health Parity Act Violations

… Parity and Addiction Equity Act (MHPAEA). The DOL and New York Attorney General (NYAG) settled with United Behavioral Health and United Healthcare Insurance Co. (United) following litigation and investigation into MHPAEA violations. According to the settlement, United must pay affected participants and beneficiaries, pay penalties and take corrective actions. The Employee Benefits Security Administration (EBSA) investigates alleged violations of the MHPAEA, including those alleged in Walsh v. United Behavioral Health and UnitedHealthcare Insurance. The MHPAEA requires group health plans (GHPs), whether fully insured or self-funded, to provide the same level of benefits to participants for mental health and substance …

https://www.epicbrokers.com/insights/dol-insurers-settlement-mental-health-parity-violations/

The IRS Issues Informational Letters on Health Flexible Spending Accounts

… by debit card transactions to the plan. When a debit card transaction gives the required information, substantiation occurs automatically or as a real-time substantiation. The rules also permit an FSA plan sponsor to coordinate with the participant’s health plan to use the information provided in an explanation of benefits (EOB) to substantiate a debit card charge without requiring more information. Further, the debit card rules allow automatic substantiation when a plan approves a recurring QME payment incurred at certain providers that match the amount, medical care provider and time period of previously approved QMEs. These rules permit an

https://www.epicbrokers.com/insights/irs-issues-informational-letters-health-flexible-spending-accounts/

Why Now Is the Time to Leverage Your Benefits Strategy to Recruit & Retain Talent

“The purpose of employee benefits is to recruit and retain valuable employees.” This lesson is taught the first day at any benefits school – and it was the only reason for an organization to spend money on benefits before the Affordable Care Act (ACA). Viewpoints from Matt Sears These words ring true as most industries are experiencing a frantic “post-pandemic” employment situation. Is the traditional approach to offering benefits enough to sway potential hires to join your workforce? Taco Bell is now offering their managers $100,000 salaries, but is giving people taxable cash income the best approach? And …

https://www.epicbrokers.com/insights/leverage-benefits-strategy-recruit-retain-talent/

President Biden Announces COVID-19 Vaccine Mandate Impacting 100 Million Americans

Viewpoints from Craig Hasday Frustrated by increasing infection and hospitalization rates, President Biden announced on Thursday evening new COVID-19 mandate requirements that will impact around 100 million Americans, including federal workers, contractors and healthcare providers that accept Medicare and Medicaid – and employees in the private sector. Additionally, the Department of Labor’s Occupational Safety and Health Administration (OSHA) will shortly be issuing a directive for all employers with at least 100 employees. These employers must ensure their workforce is fully vaccinated or require unvaccinated workers to produce a negative COVID-19 test at least once a week. The President …

https://www.epicbrokers.com/insights/biden-covid-19-vaccine-mandate-impacting-100-million-americans/