Employee Benefits

American Rescue Plan Act; Provisions Affecting Employers

The American Rescue Plan Act photo of American flag

The American Rescue Plan Act (ARPA) was signed into law by President Joe Biden on March 11, 2021. Here is an overview of three temporary provisions affecting employers. These provisions are effective April 1, 2021.   COBRA Premiums — Extended Subsidies Assistance Eligible Individuals (AEIs) who lost health coverage (including dental and vision coverage) due […]

Temporary Rules for Flexible Spending Accounts

Temporary Rules for Flexible Spending Accounts

There are new temporary rules for Flexible Spending Accounts (FSAs).  President Trump signed the Consolidated Appropriations Act of 2021 into law on December 27, 2020. The Act provides temporary special rules for health and dependent care flexible spending accounts (FSAs) that give employees additional time to use these funds. Change in Election Amounts Employees are also able […]

Medicare Part D Notices Deadline Approaching

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The annual Medicare Part D disclosure notices have a deadline of October 15, 2020. Highlights of the Annual Medicare Part D Notices Medicare Part D imposes disclosure requirements on employers with group health plans that provide prescription drug coverage to Medicare-eligible individuals. Plan sponsors must provide the annual Medicare Part D creditable coverage disclosure notices […]

Medical Loss Ratio and MLR Rebates

Photo of a group of co-workers in a meeting.

What is Medical Loss Ratio (MLR)? Medical Loss Ratio (MLR) is the percent of premiums an insurance company spends on member care, claims, and administrative expenses that improve health care quality.   What is the Medical Loss Ratio (MLR) rebate? The Patient Protection and Affordable Care Act (PPACA) of 2010 requires insurance companies to pay annual […]

Should You Open a Health Savings Account?

Photo of a EKG monitor graph -- HSA Health Savings Account Mason McBride

A health savings account, or HSA, is a type of saving account that allows you to set aside tax-deferred money for healthcare expenses. It’s essentially a retirement plan but for healthcare purposes. HSA’s can be a great option because you are in full control of the money in your account and since it’s tax-deferred, you’ll […]

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