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“Mental Health” Focus – Trend or Here to Stay?

… asked him how he was doing, he said, “my cats are literally my lifeline.” While his coping mechanism seems to be working for him, an increasing number of people are experiencing difficult times – and they’re not sure where to turn. Now that employers are seeing the impact on productivity, employee satisfaction, and employee health from the anxiety and depression brought on by side effects of COVID (social isolation, fear, lack of exercise, exhaustion) we were curious what steps our clients were taking to address them. Our recent Mental Health and Wellbeing Pulse Survey had some fascinating results. What we …

https://www.epicbrokers.com/insights/mental-health-focus-trend-or-here-to-stay/

Covering Coronavirus: Risk Considerations Volume 1, Issue 28

EPIC Risk Advisory Bulletin Volume 1, Issue 28 In this issue, we take a focused look at: Supply Chain and Business Risks Calculating the Economic Impact of Coronavirus Closure Orders Future of Business Travel and Commuting FMCSA Extends and Expands Emergency Declaration Insurance Products and Coverage Information Entertainment Insurance Market Update Builders Risk Marketplace Update Possible Migration to Exchanges for Healthcare Business Interruption Update – PRIA and More Litigation Presumptive Compensability Update News of Note Human Resources and Employee Benefits OSHA Issues More Fines Cal OSHA Adopts Emergency Temporary Standard for Coronavirus CDC Revises Quarantine Recommendations CDC Guidelines for Celebrating the …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-28/

Vaccine Costs Aren’t Likely to Break the Banks of Corporate Health Plan Sponsors

The New York Times (NYT) reported that 13 vaccines are currently in the final stages of testing. Phase 1 testing involves a small sample of people to test safety, dosage, and confirm that the immune system is stimulated by the drug. Phase 2 increases the sample to hundreds of people, testing further for safety/efficacy, and segments the test group to see if different populations experience different outcomes. Phase 3 involves thousands of patients, some of whom receive a placebo. Along the path toward approval, testing may be halted in the event adverse or unexpected outcomes are noted. This has …

https://www.epicbrokers.com/insights/vaccine-costs-arent-likely-to-break-the-banks-of-corporate-health-plan-sponsors/

Will Amazon Pharmacy Change Healthcare?

Viewpoints from Craig Hasday The market shuddered at the announcement of Haven Healthcare – the partnership between Amazon, JPMorgan Chase and Berkshire Hathaway. This powerful trio combined financial savvy with insurance and distribution expertise. Surely, they would meaningfully move the market. Well, so far – not so much. Healthcare indeed represents almost 20% of Gross Domestic Product (GDP), but it’s also true that the status quo is a powerful force, especially when combined with significant political lobbying clout adding to federal and state governmental pressure. It’s no wonder change is difficult to enact. When Amazon bought PillPack in June 2018 …

https://www.epicbrokers.com/insights/will-amazon-pharmacy-change-healthcare/

Federal Benefit Plan Limits for 2021

… 500$19,500 Maximum “Catch-Up” Salary Deferral (age 50 or older)$6,500$6,500 Compensation Limit (§401(a))$290,000$285,000 Maximum Defined Benefit Limit$230,000$230,000 Defined Contribution Annual Additions Limit (§415)$58,000$57,000 Defined Contribution Annual Additions Limit (§415) if age 50 or older$64,500$63,500 “Key Employee” Compensation Limit$185,000$185,000 “Highly Compensated Employee” Limit$130,000$130,000 Please contact your EPIC account team with any questions regarding these updated limits. 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 …

https://www.epicbrokers.com/insights/federal-benefit-plan-limits-for-2021/

Pharmacy Update Nov 2020

Amazon Announces Two New Entities in the Pharmacy Channel Recently, Amazon announced its launch of two new entities in the pharmacy channel, Amazon Pharmacy and Amazon Prime Prescription Savings Benefit. Amazon has been slowly entering into pharmacy over the last couple of years after its acquisition of Pill Pack. Amazon Pharmacy is the company’s newly minted online pharmacy business built on the backbone of PillPack. Amazon is finding ways to work with retail channels via its exclusive relationship with InsideRx powered by Express Scripts. The new entity enables customers to upload their insurance information onto the online platform, have …

https://www.epicbrokers.com/insights/pharmacy-update-nov-2020/

BCBS Antitrust Settlement Could Be a Game Changer – Especially in Smaller Markets

In September, a tentative $2.7 billion settlement was reached with BlueCross BlueShield (BCBS) in an antitrust action brought on behalf of over one million individual and corporate policyholders. BCBS plans cover 109 million, or almost one-third of Americans. Under long-standing rules governing BCBS Association members, insurance purchasers could only transact insurance business with the plan located in the state where their headquarters were based – unless the home-state plan granted permission to obtain a proposal from a BCBS plan based in another state. This was true even if the employer had offices or employees in multiple states …

https://www.epicbrokers.com/insights/bcbs-antitrust-settlement-could-be-a-game-changer/

Covering Coronavirus: Risk Considerations Volume 1, Issue 27

EPIC Risk Advisory Bulletin Volume 1, Issue 27 In this issue, we take a focused look at: Supply Chain and Business Risks Coronavirus Guidance for Long Haul Truck Drivers State Driver’s Licensing & FMCSA Waivers Update Insurance Products and Coverage Information Ransomware on the Rise, Healthcare is Top Target New COVID-19 Business Interruption Ruling Worries Insurers Pending BI Legislation Update EPL Market Spotlight Presumptive Compensability Update News of Note Human Resources and Employee Benefits OSHA Issues Respiratory Protection Guidance for LTC Workers Oregon OSHA Adopts Temporary Coronavirus Rule OSHA Issues Another $500,000 in Coronavirus Citations OSHA 300 Recordkeeping …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-27/