Categorized as: Blog

PRESIDENT DONALD J. TRUMP IS TAKING ACTION TO IMPROVE ACCESS, INCREASE CHOICES, AND LOWER COSTS FOR HEALTHCARE

“The time has come to give Americans the freedom to purchase health insurance across state lines, which will create a truly competitive national marketplace that will bring costs way down and provide far better care.” – President Donald J. Trump EXPANDING ACCESS TO MORE AFFORDABLE OPTIONS: President Donald J. Trump is taking action to increase the healthcare choices for millions of Americans, potentially allowing some employers to join together across State lines to offer coverage. President Trump signed an Executive Order to reform the United States healthcare system to take the first steps to expand choices and alternatives to Obamacare…

Volunteering in the Community

On Friday, October 6th Aida volunteered her time to Habitat for Humanity in Morris County. “Painting is not my forte but it was for a worthy cause!”

3rd Quarterly Newsletter of 2017

Please find our Compliance Observer Newsletter for the third quarter of 2017. This newsletter contains information on many employee benefits compliance issues. The following articles, information, and important reminders are contained in this Newsletter: Determining if Your Business is an ALE for Reporting & Penalty Purposes Final Forms for 2017 ACA Reporting EEOC’s New Wellness Program Rules a Bust New SBC Template Required for 2018 Open Enrollment Changing HSA Contributions under a Cafeteria Plan More Employers Requiring Same-Sex Couples to Marry to Receive Benefits 2018 IRS Plan Maximums & Benefit Limits New Form I-9 Must be Used Now Compliance Observer Newsletter- 3rd Quarter…

Year-End Compliance Requirements & Deadlines

Key benefit requirements and deadlines for 2017. September Summary Annual Report (SAR) – A narrative summary of your Form 5500, including a statement of the right to receive the annual report, must be distributed to plan participants by the last day of the ninth month following the end of the plan year, or September 29th for calendar year plans (since September 30th falls on a Saturday). Plans that have an extension of time to file the Form 5500 must provide the SAR within two months after the extension. MLR Rebates – The deadline for issuers to pay medical loss ratio…

Don’t be Fooled! ACA Employer Mandate Penalties are Still Effective

Contrary to popular belief, the ACA’s individual and employer mandate penalties continue to apply and the IRS intends to enforce them. Much of the confusion surrounding the ACA mandate penalties stems from President Trump’s Inauguration day Executive Order, in which he directed federal agencies to “minimize the unwarranted economic and regulatory burdens” of the ACA until the law could be repealed or replaced. However, according to the IRS website, the mandates are still in force, despite the Executive Order and the IRS’ decision not to implement a program rejecting “silent returns” that indicated non-compliance with individual mandate requirements for 2016…

Voluntary Benefits: Choosing the Right Fit

Join Crawford Advisors’ (an AssuredPartners Company) Director of Voluntary Benefits, Stephen Ivey, for this HRCI* and SHRM** pre-approved, complimentary, one-hour webinar as he explores how to design, communicate and administer voluntary plans. Listen in on how these benefits are customized specifically to an employer’s core benefits program instead of the more common one-carrier-fits-all approach in the market. Topics include: Primary vs Supplemental State of the Market Employer Risks/Concerns Communication & Enrollment Strategies Administrative Platforms Register Now! This webinar is pre-approved for HRCI & SHRM Credits!

Drug Deals: Understanding the Intricacies of PBM Contracts, Language, & Opportunities

Drug Deals: Understanding the Intricacies of PBM Contracts, Language, & Opportunities Join us for a webinar on July 27, 2017 at 1:00 PM EDT. Register now! https://register.gotowebinar.com/register/7095557936309516291 PBM contracts are notorious for being confusing and vague, yet, extremely important. Join Crawford Advisors’ (an AssuredPartners Company) Director of Data Analytics, Scott Mayer, for this HRCI* and SHRM** pre-approved, complimentary, one-hour webinar as he discusses how Pharmacy Benefit Management contracts can vary, even within the same PBM. With pharmacy spend now accounting for 20-25% of total healthcare spend, and growing, understanding these details has become more important than ever. Topics include: Contract Definitions…

Repeal & Replace Efforts Fail Again

Less than five days after the Senate released the second version of its Better Care Reconciliation Act (BCRA), GOP efforts to repeal and replace the Affordable Care Act (ACA) have failed once again. If the BCRA had any chance of passing, Republicans could lose only two votes. With this difficult number to maintain, there was doubt that the BCRA would have the necessary votes to pass, since two senators, Rand Paul (R-KY) and Susan Collins (R-ME), publicly stated they would vote against BCRA-2 from its onset. In addition, rumors surfaced that at least eight, if not ten, other Republican senators…

2nd Quarterly Newsletter of 2017

Below please find our Compliance Observer Newsletter for the second quarter of 2017. This newsletter contains information on many employee benefits compliance issues. The following articles, information, and important reminders are contained in this Newsletter: Current Status of the Employer Mandate REMEMBER – PCORI Fees are Due July 31st! New Expiration Date for Exchange Notices Assessment of 2015 ‘Pay or Play’ Penalties Expected in 2017 New Draft Model Form For Mental Health Parity Requests 5500 Deadline – July 31, 2017 for Calendar Year Plans Medicare Secondary Payer Rules Failure to Provide Life Insurance Conversion Information Costs Employer $750,000 Compliance Observer Newsletter- Quarter 2…

IRS Begins Large Employer ACA Reporting Penalty Process

As the American Health Care Act (AHCA) has not been signed into law yet, the Affordable Care Act (ACA) is still in effect and the IRS is currently issuing notices to large employers to disclose whether they complied with the ACA reporting duties or not. Large employer ACA reporting was required for 2015 and 2016 (even if transition relief was applied for 2015). Penalties can be up to $500 per each 2015 Form 1095-C statement ($250 for not providing the form to the employee and $250 for not filing with the IRS) and up to $3 million total for an…