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IRS Releases Much Requested PCORI Fee Update

The Internal Revenue Service (IRS) has released Notice 2020-44 (Notice) under which it has announced the Patient-Centered Outcomes Research Institute (PCORI) fee rate that applies to plan years that end on or after October 1, 2019, and before October 1, 2020. The notice also describes transition relief for calculating the average number of covered lives (as part of calculating the applicable fee) for plan years that end within this timeframe. Applicable PCORI Fee Rate The Notice provides that the applicable PCORI fee rate for plan years ending between October 1, 2019, and September 30, 2020 is $2.54 …

https://www.epicbrokers.com/insights/irs-releases-much-requested-pcori-fee-update/

Onsite or Virtual Events – the Fall Wellness Season Conundrum

Now that the upheaval of spring wellness events and the mad dash to go virtual have subsided, we’re immediately shifting our focus to fall. However, this fall will not look like it did last year – many of our clients, especially those in New York City and other hard-hit areas, are canceling onsite wellness events or shifting them to virtual. With so much uncertainty and no end to it in sight, clients are taking a better-safe-than-sorry approach. No one wants a wellness event to cause more stress than it relieves. For more of our coronavirus coverage …

https://www.epicbrokers.com/insights/onsite-or-virtual-events-the-fall-wellness-season-conundrum/

Covering Coronavirus: Risk Considerations Volume 1, Issue 15

… to see unprecedented disruptions at home and abroad. In this issue, we take a focused look at: General Information on Coronavirus Supply Chain and Business Risks Mass Transit Challenges Lie Ahead Insurance Products and Coverage Information Proposed Legislation for BI Claims Federal Backstop Legislation and Litigation Roundup Human Resources and Employee Benefits I-9 Exceptions Extended Return to Work Update 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 …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-15/

Projecting Healthcare Costs – Not an Easy Assignment

Viewpoints from Craig Hasday & Davin Millholland There’s no doubt that current-year medical claims costs will be dramatically impacted by the pandemic we face. From mid-March to mid-June, we expect claims to drop precipitously. Much of this is due to medical care being viewed by many as non-essential, and between mandatory shutdowns and simple fear of exposure, medical care utilization has ground to a halt. The impact has been so acute that health insurance carriers are voluntarily rebating premiums to their policyholders. For example, Anthem is providing 10%-15% discounts worth $2.5 billion to its …

https://www.epicbrokers.com/insights/projecting-healthcare-costs-not-an-easy-assignment/

Coronavirus & Workplace Wellbeing: Staying Connected

… to or seen in a while. A short conversation to let each other know that you care should boost your mood. Engage Virtually  Your favorite artists and DJs are hosting watch parties – join the fun and dance and sing the stress away. The EPIC Wellness & Health Management practice will continue to share ways to support the social, physical and community wellbeing of your workforce in the new normal. EPIC also has a dedicated coronavirus webpage with links to additional employer resources for employee benefits and risk management. Stay tuned for more from us, take care, and stay well! Join the

https://www.epicbrokers.com/insights/coronavirus-workplace-well-being-staying-connected/

Patient-Centered Outcomes Research Institute (PCORI) Fee Payment Due July 31

Quick Facts: Federal law imposes an annual fee on health plans to help fund the Patient-Centered Outcomes Research Institute (PCORI). The fees are calculated using the average number of lives covered under the policy or plan, and the applicable dollar amount for that policy or plan year. For insured health plans, the carrier or HMO is responsible for reporting and paying the fee. Employers that sponsor a self-insured health plan must pay the fee for that plan. Payers – insurers or employers – use IRS Form 720 to report and remit the fee. PCORI fees were initially scheduled to sunset …

https://www.epicbrokers.com/insights/pcori-fee-payment-due-july-31/

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/