Many employers sponsor a self-insured medical reimbursement plan that is subject to Internal Revenue Code Section 105(h) nondiscrimination testing. Common self-insured medical reimbursement plans are self-funded major medical plans, health reimbursement arrangements (HRAs), and medical expense
Cost-saving Strategy: Generic Drugs
Generic drugs can sometimes be misunderstood as subpar or not up to the same quality standards as name-brand prescription drugs. This is unfortunate because generic drugs are not only of the same high quality as name-brand prescriptions, but they usually cost much less (80-85 percent
Featured Video: What Employers Need to Know About HIPAA and HITECH
April's Featured Video What Employers Need to Know About HIPAA and HITECH The Health Insurance Portability and Accountability Act (HIPAA), its administrative simplification regulations, and the Health Information Technology for Economic and Clinical Health Act (HITECH) provide administrative,
American Health Care Act: What Won’t Change
The bills that make up the American Health Care Act, or AHCA, were primarily focused on what changes would be made to existing ACA rules. Items that would not change under the proposal are: Pre-existing Conditions The ACA mandate prohibiting insurers from denying or charging more for coverage to
Understanding Fiduciary Responsibilities
To meet their responsibilities as health plan sponsors, employers need to understand ERISA’s strict standards of conduct. These standards of conduct apply to individuals who manage employee benefit plans and their assets, who are called fiduciaries. An ERISA-covered group health plan is an
HHS Extends Transition Policy For Non-ACA Compliant Health Plans
On Feb. 23, 2017, the Department of Health and Human Services (HHS) extended an existing transition policy for certain health plans that do not comply with the Affordable Care Act (ACA) for an additional year, to policy years beginning on or before Oct. 1, 2018. In states that allow it, health
Health Insurance Marketplace Notice and OMB Expiration Date
Health Insurance Marketplace Notice and OMB Expiration Date Under the Patient Protection and Affordable Care Act (ACA), an applicable employer must provide a written notice about the Health Insurance Marketplace to each employee. The Department of Labor (DOL) provides a model notice for employers
Final SBC Template Released for 2017
The Departments of Labor (DOL) and Health and Human Services (HHS) issued the final revised template and related materials for the Summary of Benefits and Coverage (SBC). Plans with annual open enrollment periods must start using the new template on the first day of the first open enrollment