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Set Your Employees up for Medicare Success

… conversation with your employees long before they become Medicare-eligible. Generally, they’ll be able to enroll during their seven-month Initial Enrollment Period, which includes the three months before and the three months after the month of their 65th birthday. What Should Your Medicare-Eligible Employees Know? Although an employee may become eligible for Medicare, they can opt to remain on their current health plans. But if an employee chooses to stay on their current employer-provided insurance while Medicare-eligible – particularly an employee considering a Health Savings Account (HSA) option – they must know the rules. It’s important …

https://www.epicbrokers.com/insights/set-your-employees-up-for-medicare-success/

The Employer Healthcare Market Appears to Be Stable – but for How Long?

… The concern is over a resurgence or a second wave, but this does not appear to be materializing. Viewpoints from Craig Hasday And the cost of care to employees and employers also seems to be relatively stable as compared to 2019. The just-released Kaiser Family Foundation 2020 Employer Health Benefits Survey indicates a 4% increase in medical insurance costs from last year, with family coverage at $21,342 and employees paying 26% of this total. The average employee contribution for single coverage was 17% in 2020 and 27% for families. This compares to wages which increased by 3.4 …

https://www.epicbrokers.com/insights/the-employer-healthcare-market-appears-to-be-stable-but-for-how-long/

Covering Coronavirus: Risk Considerations Volume 1, Issue 24

EPIC Risk Advisory Bulletin Volume 1, Issue 24 In this issue, we take a focused look at: Supply Chain and Business Risks The State of Business Travel Insurance Products and Coverage Information Cyber Attacks are on the Rise Insurance-Linked Securities Rebound from Pandemic Disruption Western Wildfire Losses Presumptive Compensability Legislation News of Note Human Resources and Employee Benefits Coronavirus’ Impact on Healthcare and WC Budgets Insights from Across the Firm The information presented here is intended to provide a high level overview of critical areas of concern for businesses around coronavirus. Consult your EPIC insurance broker for more in …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-24/

Remote Employee Resources

25 Strategies & Resources to Delight and Engage Remote Employees Resources Geared Toward Working Parents: Parental Support Group and Forum Back-Up Childcare Services: In home, virtual and onsite options are available Caregiver Background Checks Parenting Toolkits: Workshops, Classes, and Resources to help parents navigate this year | We love Positive Parenting’s Solution’s Ultimate Survival Guide to an Unpredictable School Year Dependent Care FSA Perks for Employees’ Children, such as monthly fun learning kits tailored to specific ages, donated laptops for online learning, and online camps and classes Resources That Appeal to All Employees: Technology and Office Furniture Stipend Employee …

https://www.epicbrokers.com/insights/remote-employee-resources/

EPIC Adds Robert Johnson

The addition of Robert Johnson further strengthens National Employer Consulting Practice EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that Robert Johnson has joined as principal. Johnson’s primary focus will be new client acquisition and helping teams build client relationships through non-medical growth strategies. Johnson brings over 30 years of sales and leadership experience to this role. Prior to joining EPIC, he served as Customer Unit Vice President for MetLife’s South Customer Unit in Dallas. In this role, he was responsible for sales, revenue, persistency, and overall …

https://www.epicbrokers.com/insights/epic-adds-robert-johnson/

Plant and Harvest Your Wellness Budget Tree

Viewpoints from Claire Letourneau and Briana Loff I’m always thrilled when I can strategize with some kind of wellness budget. But however meager or robust the funding, employees will still be able to receive wellness programming or services. An internal budget makes me the most optimistic; it demonstrates that senior leadership finds enough value in taking care of employee wellbeing to allocate resources toward their success. Yet many Human Resources professionals find themselves searching for alternative options – either free wellness programming or a magic tree on which wellness funding grows. Your magic tree may be in your medical carrier …

https://www.epicbrokers.com/insights/plant-and-harvest-your-wellness-budget-tree/

Special Compliance Alert: IRS Extends ACA Reporting Due Date

The Internal Revenue Service (IRS) has released Notice 2020-76 (Notice) which extends the due date for furnishing to individuals the 2020 Form 1095-B (generally provided by insurers), and the 2020 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2021, to March 2, 2021. The Notice also extends good faith transition relief from penalties relating to 2020 Affordable Care Act (ACA) information reporting requirements under Internal Revenue Code (IRC) sections 6055 and 6056. Finally, the Notice provides new relief relating to the failure to furnish information required by IRC section 6055 under certain circumstances …

https://www.epicbrokers.com/insights/compliance-alert-irs-extends-aca-reporting-due-date/

Checklist of Key 2021 Requirements for Health & Welfare Benefit Plan Sponsors

Complying with the many rules that govern health and welfare benefits can be a challenge for benefits administrators. EPIC has prepared this compliance checklist to help administrators manage their 2021 benefits compliance efforts. Please note that this checklist may not cover every requirement applicable to a specific employee benefit plan. This list focuses on key federal requirements affecting most health and welfare plans and is subject to legislative or regulatory changes. Additional requirements or exceptions may apply under state insurance laws which vary from state to state. Administrators should also remember that the Affordable Care Act (ACA) remains in effect …

https://www.epicbrokers.com/insights/compliance-alert-checklist-of-key-2021-requirements-for-health-welfare-benefit-plan-sponsors/