Benefits Buzz
The original version of this article was published on January 15, 2016. It has been updated annualy to account for inflationary changes.
Posted November 1st, 2017 in Producers, Employers, Individuals
As you may have heard, the Trump administration discontinued funding for the cost-sharing reduction subsidies (CSR subsidies). Critics of this move believe it will create instability in the Exchange and individual marketplaces. Political efforts to restore the CSR subsidies are underway, but it appears Republican leadership has some demands as part of those restoration efforts.
Posted October 23rd, 2017 in Producers, Employers, Individuals
IRS Revenue Procedure 2017-58 was released last week. It includes a number of inflation adjustments to various benefits and other items for 2018 including the following for Consumer-Driven Accounts:
To offer an FSA, or not to offer an FSA, that is the question. Let’s just cut right to the chase.
Flexible Spending Accounts (FSAs) are a great way for employees to save on taxes for medical and dependent care expenses, but employers also receive financial benefits by offering an FSA.
Posted October 10th, 2017 in Producers, Employers, Individuals
The Affordable Care Act (ACA) requires most health insurance plans to cover in-network preventive care at 100%, including coverage for prescribed contraceptives available to women. This has sparked some controversy with organizations who have a religious objection to the use of contraceptives. The Obama administration addressed this controversy by doing the following:
- Exempted group health plans offered by churches and houses of worship from providing coverage for contraceptives if there was a religious objection.
Posted October 3rd, 2017 in Producers, Employers, Individuals
Each year employers must provide a written notice to Medicare-eligible employees who are covered under their group health plan. The notice must include information about the creditable coverage status of the prescription drug benefit. In other words, the notice tells employees if the prescription drug benefit on the group health plan is at least as good as the standard Medicare Part D plan.
