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Covering Coronavirus: Risk Considerations Volume 1, Issue 20

EPIC Risk Advisory Bulletin Volume 1, Issue 20 The global COVID-19 (coronavirus) pandemic remains both dynamic and fluid. We continue to see unprecedented disruptions at home and abroad. In this issue, we take a focused look at: General Information on Coronavirus Insurance Products and Coverage Information Insights Gained from July Renewals News of Note Human Resources and Employee Benefits Liability Protection Sticking Point of Potential Virus Aid OSHA Revises Employee Medical Records Rule EPIC Team Trains 1,000 for Nationwide Event Judge Expands Virus Paid Leave Rule Presumptive Compensability Legislation Update Insights from Across the Firm The information presented …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-20/

Tobacco Cessation Pulse Survey

Tobacco Use is the #1 Cause of Preventable Death and Disability in the U.S. Second-hand tobacco smoke is also harmful to health. The most common type of tobacco product is cigarettes, but other forms of tobacco include cigars, e-cigarettes, hookah, chew, dip, and snuff. Many employers offer tobacco programming to members in the form of cessation programs or free, discounted nicotine replacement therapies, such as a nicotine patch, gum, lozenges, or prescribed medications. Take this quick survey to learn what other companies are doing to promote tobacco cessation, and how their tobacco programs are administered. All who …

https://www.epicbrokers.com/insights/tobacco-cessation-pulse-survey/

Stealing the Show: Host Effective Open Enrollment Presentations

… stand in front of employees and gauge their reactions – read the room, if you will – but this year may be different. So how do you respond? Fortunately, it’s a topic I, along with my colleague and EPIC National Learning & Development Director, Kate Tabony Rose, spoke about at the recent “Employee Benefits University” event held for EPIC account management teams. Our guidance is centered around the three key phases of any presentation: Prepare – how you approach the presentation Design – building out the presentation Deliver – executing the presentation Prepare Before you deliver the presentation, the work ahead of you may seem …

https://www.epicbrokers.com/insights/stealing-the-show-host-effective-open-enrollment-presentations/

What’s on Employers’ Minds...

… along to our employees, knowing plan costs in 2020 typically ran way under budget? This is a challenging question that largely hinges upon how far under budget costs ran, the economic condition of the client, and the risk tolerance given uncertain 2021 plan costs. Are there non-intrusive coverages or benefits we can introduce to employees at little to no cost that are simple to implement remotely? Things like voluntary benefits, technology-based medical services and previously overlooked state mandates/plan enhancements are front-of-mind. Where can we extract savings with little pain to participants? Pharmacy and dental are …

https://www.epicbrokers.com/insights/whats-on-employers-minds/

IRS Releases Draft Forms for 2020 ACA Reporting

… C to report information required under Section 6056, as well as information required under Section 6055 for ALEs who sponsor self-insured plans. The draft 2020 forms are largely similar to the final 2019 versions. On Form 1095-C, Part II is modified to include a field to report an employee’s age as of January 1 of the reporting year. Part II now includes new fields to report an employee’s ZIP Code, by month, by which may be used by employers that sponsor Individual Coverage Health Reimbursement Arrangements (ICHRAs). The embedded instructions also outline a number of new …

https://www.epicbrokers.com/insights/irs-releases-draft-forms-for-2020-aca-reporting/

Checklist for Strategic and Compliant Employee Benefit Plan Communications

Background For employees to fully understand the valuable investment that your company makes in their benefits, you should convey benefit plan information during annual enrollment in an engaging, compelling manner. At the same time, annual enrollment is a great chance to distribute required health plan notices and legal information regarding employee benefits. The below checklist will help you meet these important goals. The checklist includes recommended content for compliant enrollment communications and required health plan notices that you may wish to provide at enrollment. In addition, the checklist outlines considerations for successfully communicating the value of — and encouraging enrollment in …

https://www.epicbrokers.com/insights/checklist-for-strategic-and-compliant-employee-benefit-plan-communications/

IRS Increases 2021 ACA Affordability Contribution

Quick Facts Employers subject to the Affordable Care Act’s (ACA) employer shared responsibility rules may be subject to penalties if they offer unaffordable coverage to full-time employees. Employees (and family members) who are eligible for coverage under an employer-sponsored plan that is affordable and provides minimum value are not eligible for the premium tax credit the ACA provides for Marketplace coverage. For plan years beginning in 2021, an employer’s offer of coverage is affordable if an employee’s required contribution for self-only coverage does not exceed 9.83% of the employee’s household income for …

https://www.epicbrokers.com/insights/irs-increases-2021-aca-affordability-contribution/

Executive Orders Aimed at Drug Costs Miss the Mark

Viewpoints from Craig Hasday Trying to regain momentum in the election polls, President Trump released four executive orders that he claims will “completely restructure” the prescription drug market. However, most analysts agree that there is not much new and nothing revolutionary in these orders. The most potentially impactful of these orders is a rehash from a prior Presidential Blueprint in May 2018. One order requires middlemen to pass along all discounts received to Medicare patients. Good idea, except for the provision that requires the Secretary of the Department of Health and Human Services (HHS) to confirm the order will not …

https://www.epicbrokers.com/insights/executive-orders-aimed-at-drug-costs-miss-the-mark/