Benefits Buzz
Annual Medicare Part D reporting is required for all employers who provide health benefits with prescription drug coverage. The reporting is an online filing to the Centers for Medicare & Medicaid Services (CMS), and it lets CMS know if the prescription drug coverage available on the employer’s health plan is “creditable.”
Overview
Health Reimbursement Arrangements (HRAs) are self-funded group health plans that provide tax-free reimbursements to employees and their family members for out-of-pocket healthcare expenses.
On August 27, 2021, the State of Illinois passed a law called the Consumer Coverage Disclosure Act (CCDA). The CCDA requires a new written disclosure to be provided by every employer who has employees in the State of Illinois and who also provides group health insurance coverage to its employees.
The Internal Revenue Service (IRS) released Revenue Procedure 2021-45 on November 10, 2021. The Revenue Procedure includes the 2022 contribution limits for certain employee benefit programs. Below is a summary of some of those contribution limit adjustments.
On June 28, 2021, the Department of Health and Human Services (HHS) proposed new rules that would primarily impact individual health plans that are sold through Health Insurance Marketplaces. The proposed rules aim to lengthen the annual enrollment period, expand Navigator duties, and minimize any burden or confusion for consumers. A summary of some of the key provisions has been outlined below:
The Equal Employment Opportunity Commission (EEOC) has been issuing COVID-19 guidance for employers dating back to March 2020. The guidance has been issued in a frequently asked question (FAQ) format and gets updated periodically. On May 28, 2021, the EEOC updated its guidance to include information for employers wanting to provide incentives to employees for receiving a COVID-19 vaccination.
