Benefits Buzz
Is it or isn’t it a qualifying event?
Medicare entitlement of the employee is listed as a COBRA qualifying event; however, it is rarely a qualifying event. In situations where it is a qualifying event, it is only a qualifying event for the spouse or children that are covered under the group health plan.
President Donald Trump issued an executive order last month aiming to improve price and quality transparency in the healthcare industry.
Health Reimbursement Arrangements (HRAs) have been on a roller coaster the past five years. Some laws and regulations have limited the types of HRAs that an employer can offer whereas other laws and regulations have created new HRA options for employers to offer. Below is a summary of the types of HRAs employers can offer to employees.
As a result of regulations supplementing the Affordable Care Act (ACA), employers were limited to offering 3 types of HRAs.
The Internal Revenue Service (IRS) issued Revenue Procedure 2019-25 last month with information on the Health Savings Account (HSA) and qualified high-deductible health plan (HDHP) limits for 2020.
These limits are updated annually and reflect cost-of-living adjustments.
Showcase the Power of Bundling
A strategic approach to benefits is essential as your clients compete to attract and retain top talent. While that’s a given, each client’s objectives and benefit offerings are different. Here are five fresh angles to help you tee up the right conversation about the benefits of bundling at your next client consultation...and the one after that.
The Departments of Labor, Health and Human Services and the Treasury (collectively, the Departments) released new guidance on June 13, 2019 which permit a new type of Health Reimbursement Arrangement, referred to as an Individual Coverage Health Reimbursement Arrangement (ICHRA).
