Guidance for non-grandfathered group health plans using reference prices to determine maximum out-of-pocket expenses for various provider networks has been issued in a FAQ prepared jointly by the Employee Benefits Security Administration, Internal Revenue Service, and Department of Health and Human Services. The FAQs were released to assist group health plans to comply with … Continued
Despite rumors that the Centers for Medicare and Medicaid Services (CMS) would either accommodate or exempt self-funded plan sponsors from applying for a Health Plan Identifier (HPID), no official statement has been made and specified health plans should obtain their HPID by November 5, 2014 under a final rule released by the Department of Health … Continued
All Part D Eligible Individuals working for the company must be notified by October 15 as to whether the prescription drug coverage the company offers to employees and former employees (including spouses and dependents) qualifies as creditable. Plan sponsors should also annually disclose this information to the Centers for Medicare and Medicaid Services (CMS). Who … Continued
ANASTASIA CHEIKHI HIRED AS AN ACCOUNTANT AT HENDERSON BROTHERS PITTSBURGH – September 23, 2014 – Anastasia Cheikhi was hired as an accountant at Henderson Brothers Inc, working in the Accounting department. Prior to joining Henderson Brothers, Cheikhi worked as a finance assistant at the National Multiple Sclerosis Society. Previously, she worked as a staff … Continued
Many employers established a Cafeteria Plan well over 20 years ago, and it is very likely, because of IRS rules, that a written plan document was formally adopted at the time the plan was established, and a booklet summarizing the plan was distributed to participants. The IRS cafeteria plan regulations indicate that if there is … Continued
The IRS released a Chief Counsel Advice (CCA) memorandum that explains how the new health FSA carryover impacts Health Savings Account eligibility. When the IRS altered the “use-or-lose” rule, allowing certain participants in health FSAs to carryover unused balances of up to $500 into the next plan year, questions arose about how this carryover would … Continued
Making waves in the Internet security community is the discovery of the Heartbleed bug, a serious vulnerability that allows hackers to steal personal information that is normally protected by OpenSSL encryption. OpenSSL provides security for Web applications, email, instant messaging and some virtual private networks. According to Internet security services provider Netcraft, about half a … Continued
Evacuations are more common than many people realize. Fires and floods cause evacuations most frequently across the United States, and almost every year, people along coastlines evacuate as hurricanes approach. In addition, transportation and industrial accidents release harmful substances hundreds of times a year, forcing many people to leave their homes. In some circumstances, local … Continued
Uh oh, you just got into a fender bender on your way to run a quick errand. What should you do now? Stay calm and read on to learn how to react to make sure that the process goes as smoothly as possible Auto Accident Reaction Tips Get out of your vehicle and provide assistance … Continued
Employees are critical to the success of any organization. However, with employees come certain risks and potential liabilities. Those risks and potential liabilities are increased with the offering of benefit and retirement plans. In some cases, the liability can become very personal. There are three very important insurance protections employers should have to satisfactorily protect … Continued