The COVID-19 vaccine toolkit, issued by the Centers for Medicare & Medicaid Services, has been updated and now includes a list of vaccines and boosters that are required to be covered without cost-sharing. This chronological list contains COVID-19 vaccines and boosters approved and authorized by the Food and Drug Administration …
Highlighting Mental Health Awareness Month
May is National Mental Health Awareness Month, and the goal is to reduce stigmas surrounding those living with mental health conditions. Approximately 44 million Americans a year battle mental illness, and most families are underprepared for a loved one’s diagnosis. A condition that affects a person’s mood, behavior, or thinking …
2023 HSA and HDHP Limit Increases
The 2023 inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) were announced by the IRS. Each year the law requires the IRS to announce the limits by June 1st. These limits include the maximum HSA contribution limit, the minimum deductible amount for HDHPs, and the …
The United States is “Out of the Pandemic Stage”
Dr. Anthony Fauci, the country’s top infectious-disease expert, stated the United States is “out of the pandemic phase.” The statement does not mean the COVID-19 pandemic is over, rather the level of hospitalizations and deaths has declined to a manageable point within the country. Fauci advises caution as the virus …
Medical Bills: Catching Errors
A public opinion survey found that approximately 72% of patients are confused by their medical bills, and 94% have received bills they believed were “too expensive.” Medical bills are notoriously hard to read and understand, which often leads to overpayment. Hospitals and clinics typically lump charges together and do not …
Mask Mandate Dropped for Public Transportation
On April 18, 2022, the federal judge for the Middle District of Florida claimed the Centers for Disease Control and Prevention (CDC) exceeded its authority by enforcing the national mask mandate. As a result, the mask requirement was invalidated for public transportation. The Biden administration is currently reviewing the judge’s …
HSA Spending and Withdrawal Rules
A health savings account (HSA) is used to assist the account holder in saving money to be spent on eligible medical expenses. To be eligible for an HSA, an employee must be enrolled in a high-deductible health plan (HDHP) with a minimum deductible amount of $1,400 for an individual and …
How to Choose a Primary Care Physician
Your Primary Care Physician (PCP) is the provider you will typically visit for non-emergency, routine checkups, so it is important to choose a PCP that meets your health care needs. To find the best PCP for you, consider the following: What kind of physician do you require? The first step …
Family Coverage Affordability Rule to Change
A proposed rule was released by the IRS on April 5, 2022, to change the existing eligibility standards for the premium tax credit (PTC). The PTC is available to eligible individuals who purchased health insurance through the Exchange. However, the PTC is not available to employees with affordable, minimum value …
Why Implement a Workplace Wellness Program?
SHRM’s 2019 Employee Benefits Survey found that 64% of employers provide wellness information and resources. With health care costs continuously increasing, employers and employees strive to save money. A wellness program is an attractive solution as it has the potential to reduce health care costs and boost workplace satisfaction. Wellness …
Why Offer Life Insurance?
Life insurance is a popular employer-provided benefit that employees, especially those whose incomes support family members, can enroll in. Enrolling in life insurance allows the insured’s designated beneficiary to collect the financial benefit after the employee is deceased. Employers should consider offering term life insurance whether it be basic (100% …
Transition Policy for Non-ACA Compliant Plans Extended Indefinitely
The Department of Health and Human Services (HHS) extended an existing transition policy indefinitely for health plans that do not comply with the Affordable Care Act (ACA). This extension applies to policy years beginning after October 1, 2022. Until the HHS announces that the coverage must come into compliance with …
What is Voluntary Accident Insurance?
Life can be unpredictable which is why many employers offer voluntary benefits including accident insurance. When an accidental injury occurs, accident insurance provides financial protection for covered employees. Some plans include accidental death and dismemberment (AD&D) as an add-on to accident insurance; however, it is typically offered as a separate …
COVID-19 National Emergency Extended
President Biden announced the COVID-19 National Emergency will extend beyond March 1, 2022. It is important to note the public health emergency is different from the national emergency. The public health emergency was recently renewed on January 16, 2022 and extends for 90 days. The extension of the National Emergency …
Massachusetts’ COVID-19 Paid Sick Leave Employer Reimbursement
Massachusetts’ COVID-19 emergency paid sick leave program expired March 15, 2022. This law required employers to provide up to 40 hours of paid sick leave for certain COVID-19-related reasons. In late February, the Massachusetts Executive Office for Administration and Finance alerted employers that reimbursements for the program were reaching their …