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Special Compliance Alert: Consolidated Appropriations Act, 2021 Expands Cafeteria Plan Flexibility

… another massive stimulus package to help American families cope with the crippling economic effects of the virus. The COVID-Related Tax Relief Act of 2020 (COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR), which are included in the Continuing Appropriations Act, 2021 (CAA), include continued funding under the Paycheck Protection Program and Health Care Enhancement Act, further enhanced unemployment benefits, more loans to small businesses and another round of stimulus checks to be issued to most individuals earning under $87,000. In addition, the bill contains provisions that will impact employers who sponsor cafeteria plans

https://www.epicbrokers.com/insights/special-compliance-alert-consolidated-appropriations-act-2021/

Covering Coronavirus: Risk Considerations Volume 1, Issue 29

EPIC Risk Advisory Bulletin Volume 1, Issue 29 In this issue, we take a focused look at: Supply Chain and Business Risks How Will Supply Chains Respond to Vaccine Distribution? Equipment Maintenance Program Creates Savings for Hospitals Insurance Products and Coverage Information Business Interruption Update More D&O Liability Suits Stem From Coronavirus Claims Presumptive Compensability Update News of Note Human Resources and Employee Benefits Webinar: Cal-OSHA Coronavirus Preparation Program Webinar: How to Prepare for AB 685 IRS Issues Final Rule on Commuter Benefits CDC Guidelines for Parents & Caregivers Cal/OSHA Emergency Regulation Now in Effect Holiday Safety Guidelines …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-29/

Know, Feel, Do: Helping Employees Make the Decision That’s Right for Them

As we approach the end of a tumultuous year, our clients and their employees are facing additional changes and critical decisions that may (at least temporarily) add disruption and stress. Questions around the COVID-19 vaccine and how the company will “return to work” once the pandemic has subsided are just two issues keeping HR folks awake these days. Viewpoints from Bob Simpson Businesses often try to inundate their employees with as much information as possible, assuming this will help everyone reach the same conclusion. The reality, particularly in today’s environment, is that employees can easily be overwhelmed – and …

https://www.epicbrokers.com/insights/know-feel-do-helping-employees-make-decisions/

Projecting 2021 Medical Costs Now That the Vaccine Is Here

… certainly have seen much more conservative pricing in stop-loss renewals, which indicates that entities bearing the risk of the cost of large claims are being conservative in their estimate of the catastrophic claim levels which will emerge in 2021. Another source of uncertainty is the impact on claims of the continuing cost of COVID-19 care. Since the vaccine will largely be funded by the U.S. government, at least initially, costs to health plans will be for vaccine administration, which we estimate to be around $8.33 per employee per month. It’s possible that the cost for

https://www.epicbrokers.com/insights/projecting-2021-medical-costs-now-that-the-vaccine-is-here/

“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/