Substantial penalties are enforceable by the Department of Labor (DOL) for employers who have arrangements that pay for or reimburse their employees and/or owners for an individual health insurance policy. In other words, if your Company is paying for or reimbursing your employees or you for an individual health care policy, then you are subject […]
Excerpted from New York Times, January 25, 2015 If you’re concerned about online privacy, you’ve likely read a lot about what happens to the information you enter into sites like Facebook or Google. But now another website is generating privacy worries: Healthcare.gov. Ricardo Alonso-Zaldivar and Jack Gillum at The Associated Press report that the health […]
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The IRS has announced cost of living adjustments affecting dollar limitations for retirement plans and related items for tax year 2015. Highlights include: The contribution limit for employees who participate in 401(k), 403(b), and most 457 plans is increased from $17,500 to $18,000. The catch-up contribution limit for those aged 50 and over is increased from […]
The Affordable Care Act requires health insurance issuers to offer an annual one month special open enrollment period (fron Nov 15 – Dec 15) to employers in the small group market who do not meet the employee minimum participation or employer minimum contribution requirements. There are specific situations where it will be beneficial, but it’s […]
Important IRS Updates for Section 125 Plans October 1, 2014 Application of the Permitted Change Rules for Health Coverage under a 125 Cafeteria Plan. In IRS Notice 2014-55 (click here) released on September 18, 2014, the IRS addressed two specific situations in which a Section 125 cafeteria plan participant may cancel […]
The following is excerpted from the following website: http://www.cms.gov/CCIIO/Resources/Fact-Sheets-and-FAQs/aca_implementation_faqs18.html Q1: On September 24, 2013, the USPSTF issued new recommendations with respect to breast cancer.5 What changes must plans make to comply with the new recommendations? The USPSTF recently revised its “B” recommendation regarding medications for risk reduction of primary breast cancer in women. The […]
Empl0yers with Medicare eligible employees are required to notify CMS (Center for Medicare & Medicaid Svcs.) of creditable Rx coverage prior to October 15. The disclosure form can be completed and submitted online at the following website:: http://www.cms.gov/creditablecoverage.
By Leah Shepherd Will the link between employment and health insurance survive? That’s one of the serious questions that a new report from the Employee Benefit Research Institute (EBRI), a nonprofit research organization based in Washington, D.C., raises about the future of employee benefits. Paul Fronstin, head of the health research and education program […]
COMMON ERRORS IN MEDICAL RECORDS Outpatient medical records often contain missing or inaccurate data, including: New prescription medicines aren’t listed, or medicines are listed that the patient isn’t taking anymore. An incorrect or outdated dosage of prescription medicine. Duplicate prescriptions for brand-name and generic medications. Over-the-counter remedies, such as pain relievers, vitamins or other supplements, […]