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Is the Mark Cuban Cost Plus Drug Company the Answer to Rising Drug Costs?

Mark Cuban, of Shark Tank and Dallas Mavericks ownership fame, is the most recent entry into the “squeeze-the-margin-out-of-pharmacy” game. In October he launched The Mark Cuban Cost Plus Drug Company (MCCPDC), a pharmacy benefit manager. This month the online pharmacy launched with a promise of only a 15% flat margin and pharmacist fee on 100 generic drugs. Cuban isn’t the first billionaire to try to solve the challenges of drug pricing. Amazon acquired PillPack in 2018 and announced its entry into retail pharmacy. Long before that, Walmart launched a $4 generic drug price in …

https://www.epicbrokers.com/insights/mark-cuban-cost-plus-drug-company-rising-drug-costs/

DOL Provides Q&As for CAA Broker Compensation Disclosure Requirements

The Consolidated Appropriations Act (CAA), signed into law on December 27, 2020, included a requirement that starting December 27, 2021, brokers and consultants supplying services to Employee Retirement Income Security Act (ERISA) group health plans disclose to plan fiduciaries (typically the plan sponsor), in writing, direct and indirect compensation they receive for providing services to such plans. This disclosure requirement was effective for “contracts or arrangements entered into, extended, or renewed on or after December 27, 2021.” See our Compliance Insights article, “Employee Benefits Broker Compensation Disclosure Requirements Are Coming Soon,” for more information. On Thursday, December 30, 2021, the …

https://www.epicbrokers.com/insights/dol-provides-qas-caa-broker-compensation-disclosure-requirements/

Supreme Court Blocks OSHA’s COVID-19 Emergency Temporary Standard for Employers

… or testing requirements. Finally, the SCOTUS ruling has no effect on recent guidance requiring health plans to pay for over-the-counter (OTC) COVID tests. For more information on recent COVID-19 home test requirements visit our Guidance Released for Health Plan Coverage of OTC COVID-19 Tests page. EPIC Employee Benefits Compliance Services For further information on this or any other topics, please contact your EPIC consulting team. Learn About Our Employee Benefits Compliance Services EPIC offers this material for general information only. EPIC does not intend this material to be, nor may any person receiving this information construe …

https://www.epicbrokers.com/insights/supreme-court-blocks-osha-emergency-temporary-standard-employers/

The Emotional Wellbeing Toolkit

… we’ll provide: Assessment tools Strategies & resources Ideas for wellbeing conversations Effective communication strategies Visit the Human Resources Today website to sign up for a free recording! Get to Know Our Speakers Suzannah Gill, JD EPIC Benefits Strategy Consultant and a former ERISA attorney Suzannah is at the forefront of benefits trends and strategies. She provides resources and guidance to her clients to position themselves as employers of choice with well-managed benefit plans. Suzannah was named one of Employee Benefits Advisor’s 20 Rising Stars in Benefits Advising in 2018, was featured in BenefitsPro Magazine as a “Face of …

https://www.epicbrokers.com/insights/the-emotional-wellbeing-toolkit/

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/