A Message From ARC’s Director of Employee Benefits: What to Expect Around the 2024 January Renewal Cycle
While we’re doing all that we can to ensure this renewal season runs as smoothly as possible, we wanted to make you aware of the season we’re walking in now. Here are some things you need to know to ensure your enrollment goes smoothly this year.
Compliance Corner: New Gag Clause Attestations Due December 31, 2023
Attestations are to be submitted via the CMS-HIO System. The first filing in 2023 covers the period of December 27, 2020, through December 31, 2023.
Compliance Corner: 2024 Affordability Threshold Lowered to 8.39 Percent
Large employers have a federal mandate to provide coverage, submit government reporting, and to ensure that employee premium cost for coverage doesn’t exceed certain amounts or they will be subject to penalties. The cost of coverage limitations is called the Affordability Threshold. It is indexed annually by the IRS.
Compliance Corner: PCORI Fees Due to IRS No Later Than July 31, 2023
Fees to fund the Patient-Centered Outcomes Research Institute (PCORI) are due from employers who sponsor certain self-insured health plans such as Level Funded and Health Reimbursement Arrangements (HRAs) that are not treated as excepted benefits. The filing is due to the IRS no later than July 31, 2023.
Compliance Corner: Employer Filing for the RxDC Report Due on June 1, 2023
The RxDC Report is an annual filing required by the Consolidated Appropriations Act of 2021 and is due on June 1, 2023.
Important New Guidance on Preventive Care
The gist of this court ruling is that it has ruled it unconstitutional to require insurers/payers cover 100 percent coverage of some preventive services and how those services are determined.
Compliance Corner: Is Your Plan Subject to COBRA Continuation of Coverage?
COBRA applies to group health plans maintained by employers that had at least 20 employees on more than 50 percent of its typical business days in the previous calendar year.
Reminder for Employers: Medicare Part D Disclosures Due by March 1 for Calendar Year Plans
Group health plan sponsors are required to complete an online disclosure form with CMS on an annual basis and at other select times, indicating whether the plan’s prescription drug coverage is creditable or non-creditable.
Compliance Corner: Notice Requirements and Why Employers Need a Premium Only Plan
In this month’s Compliance Corner, we’ll cover a document that employers are required to have in place when paying for employer-sponsored health coverage using pre-tax funds under Section 125 of the IRS Code: the Premium Only Plan (POP).
Compliance Corner: Considerations for Employees or Dependents Becoming Eligible for Medicare
As employees of companies near age 65, they become eligible for Medicare, which has a lot of implications for their health coverage. This article contains answers to frequently asked questions to help you and your employees make the best decision and stay compliant.
Compliance Corner: Pharmacy Benefit Reporting is Due by December 27, 2022
All fully insured carriers and nearly all administrators with whom we work are handling the filing on behalf of their employer clients.