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IRS Releases 2021 HSA and HDHP Limits

The IRS recently released Revenue Procedure 2020-32, which includes the 2021 inflation-adjusted amounts for health savings accounts (HSAs) and high-deductible health plans (HDHPs). These limits include the maximum HSA contribution limit, the minimum deductible amount for HDHPs, and the maximum out-of-pocket expense limit for HDHPs. These limits vary based on whether an individual has self-only or family coverage under an HDHP. The IRS limits for HSA contributions and HDHP maximum out-of-pocket limits will increase effective January 1, 2021, while the HDHP limits will increase effective for plan years beginning on or after …

https://www.epicbrokers.com/insights/irs-releases-2021-hsa-and-hdhp-limits/

Back to Work: Employee Testing and HIPAA

… such as workplace safety activities. Therefore, health information collected by an employer for reasons unrelated to its group health plan – such as health screening results to return to work – is not PHI and is not subject to HIPAA. However, other federal and state laws may apply to using and disclosing employee medical information, and employers should carefully safeguard such information as a best practice. Many employers are currently reopening, or preparing to reopen, worksite locations that were forced to close due to COVID-19 pandemic. With the return to work, many employers are implementing new safety protocols to prevent the …

https://www.epicbrokers.com/insights/employee-testing-and-hipaa/

EPIC Honored With Communicator Awards of Excellence

The Communications & Engagement team at EPIC Brokers was presented with two Communicator Awards of Excellence for a benefit guide they created for Sierra Club and for the EPIC benefits communication campaign. The Award of Excellence, the Communicator Awards’ highest honor, is given to entrants whose ability to communicate positions them as the best in the field. The team also received an Award of Distinction, presented for projects that exceed industry standards in quality and achievement, in recognition of a communications campaign they created for Ensign Energy Services. The Communicator Awards is the leading international awards program recognizing big ideas in …

https://www.epicbrokers.com/insights/epic-honored-with-communicator-awards-excellence/

Now Is the Time to Make Incremental Changes to Healthcare

Viewpoints from Craig Hasday The Fortune 500 list is out, and I was slightly surprised to see that the big four health insurance companies: UnitedHealthcare, CVS-Aetna, Cigna and Anthem are all in the top 30 U.S. companies ranked by revenue. These companies represent nearly $757 billion in revenue and include the three largest pharmacy benefit managers (PBMs): Optum, Caremark, Express Scripts, and Anthem has now started Ingenio, a new, but certain to be powerful, PBM. They represent $437 billion in market value, $30 billion in profits, and have about 759,300 employees. The revenue results do not factor …

https://www.epicbrokers.com/insights/now-is-the-time-to-make-incremental-changes-to-healthcare/

Covering Coronavirus: Risk Considerations Volume 1, Issue 14

… Coronavirus Supply Chain and Business Risks U.S. Borders Open for Truck Traffic Federal Motor Carrier Safety Administration Updates Hour of Service Rules Insurance Products and Coverage Information Potential Liability Issues Lurking in FFCRA Hyperactive Hurricane Season May Be Approaching Hospitality Market Update Legislation and Litigation Roundup Human Resources and Employee Benefits Telehealth: Here to Stay? Insights from Across the Firm Additional Benefit Offerings Are there any new value-added benefits you are considering that could help address employee needs specific to the pandemic? Take Survey Wellness Have you shifted any of your wellness initiatives to a virtual approach, and …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-14/

Second-Order Effects of COVID-19

… seeking the safety of suburbia. We are likely still several months from seeing the real impact of this near-term deurbanization, but it’s hard not to see how that won’t vastly impact the economic reality and vibrancy of city life for years to come. On the health and benefits front, there are a variety of dramatic market changes – some of which are temporary, but many that feel may have a more lasting impact: The item getting the greatest focus is telemedicine. Early indications are that virtual visits are up 20 times from the same period one year ago …

https://www.epicbrokers.com/insights/second-order-effects-of-covid-19/

Determining Return-to-Work Protocols

… for COVID-19 symptoms and helps employers manage the return-to-work process safely. I have not previewed this version; however, I have seen several symptom checklists that result in a green-light email signifying it’s okay to return to work, or a red-light email, which refers the employee to a physician for further evaluation and potential virus testing. This week, we hosted a webinar with Piedmont Health Systems – a large hospital and healthcare system in the Southeast – and to me the content was fascinating. It highlighted return-to-work practices and important considerations. In addition to employee …

https://www.epicbrokers.com/insights/determining-return-to-work-protocols/

Covering Coronavirus: Risk Considerations Volume 1, Issue 13

… 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 Medical Malpractice Updates Cyber Attacks Test Business Resiliency Forming Partnerships During a Pandemic Legislation and Litigation Roundup Human Resources and Employee Benefits The Future of Meetings and Events Preventing Video Conferencing Burnout Insights from Across the Firm Open Enrollment How has the pandemic changed your approach to this year’s open enrollment, and what do you think will be your biggest challenges? Take Survey  Employee Engagement Has your new work …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-13/