On Friday, December 20th, President Trump signed H.R. 1865 into law, the Further Consolidated Appropriations Act of 2020, which included a full repeal of three taxes originally imposed by the Affordable Care Act (ACA): Repeal of the Cadillac Tax beginning in 2020, which would have imposed a 40% excise tax …
“We make a living by what we get, but we make a life by what we give.” – Winston Churchill In light of the holiday season, the CBI CARES team supported Bringing Hope Home’s 2019 Adopt-A-Family Program. The Adopt-A-Family (AAF) Program pairs Bringing Hope Home supporters with real families that …
On December 18, 2019, it was released that New York Life Insurance Co. agreed to pay $6.3 billion for a Cigna Corp. unit that sells non-medical insurance products to employers. New York Life Insurance Co. is one of the nation’s oldest and financially strongest life insurers. As low interest rates …
On December 9, 2019, the IRS released final 2019 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056. These forms and instructions require certain employers to provide information to the IRS about their health plan coverage. While similar to the 2018 versions, it is important to …
Four major hospital groups have filed a lawsuit against the Trump administration challenging the rule on healthcare transparency released in November. The rule would require hospitals to disclose their pricing information, including negotiated rates. The Federation of American Hospitals, the American Hospital Association, the Association of American Medical Colleges, the …
With Christmas and New Years around the corner, we are in the thick of the holiday season. This time of year can be a tremendous source for joy and camaraderie, but it can also be incredibly overwhelming and cause a great deal of stress. It’s important to ask yourself, “What …
On December 4, 2019, Amazon Web Services Inc. (AWS) announced it will be partnering with Novartis AG, one of the world’s largest pharmaceutical companies. “AWS’s security, scalability, and highly reliable infrastructure can help Novartis advance its technical operations with greater agility and customer-orientation, and potentially reduce the time it takes …
For our 2019 Thanksgiving project, the CBI CARES team organized a company-wide non-perishable food collection to support Preston & Steve’s Camp Out for Hunger, the largest food collection in the country. Their annual week-long food drive benefits Philabundance, Delaware Valley’s largest hunger relief organization that fights to drive hunger from …
On December 2, 2019, the Internal Revenue Service (IRS) issued Notice 2019-63 to: Extend the due date for furnishing forms under Sections 6055 and 6056 for 2019 from January 31, 2020 to March 2, 2020; Extend good-faith transition relief from penalties related to 2019 information reporting under Sections 6055 and …
On June 24, 2019, President Trump signed an executive order aimed at improving price and quality transparency in healthcare. Click here for more information. On November 15, 2019, the Department of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued a proposed rule regarding transparency in coverage …
Every year employers that sponsor group health plans are subject to numerous reporting and disclosure requirements. Not all compliance requirements will apply to every employer, but group health plan sponsors should familiarize themselves with health plan compliance deadlines. For non-calendar year plans, these deadlines will need to be adjusted to …
On Friday, November 15, 2019, the Trump administration released its final rule regarding hospital price transparency, which will take effect in 2021. What does this new rule mean? Hospitals will now be required to provide easily accessible billing information to patients. This means having all standard charges available online and …
Over the years, the Affordable Care Act (ACA) has created reporting requirements under Code Sections 6055 and 6056. These rules require certain employers to provide information to the Internal Revenue System (IRS) about the health plan coverage they either offer, don’t offer, or provide to their employees. 2019 Draft Forms …
On November 8, 2019, the Department of Labor (DOL) and Health and Human Services (HHS) issued an updated template and related materials for the Summary of Benefits and Coverage (SBC). The following updated materials must be used for plan years beginning on or after January 1, 2021: SBC Template, Uniform …
As healthcare costs continue to rise, solutions to combat these costs are becoming more and more essential. Direct Primary Care (DPC) is rising to the surface to do just that. What is DPC and how does it work? DPC is an innovative alternative payment model to traditional primary care. It …
