04 May

Posted at 20:32h in COVID-19, Employee Benefits by . .

What the Coronavirus Could Mean for Health Care Costs The insurance marketplace hinges on uncertainty.

Costs are determined by how likely an event is to happen. If something is known, it can be planned (and budgeted) for. That’s what makes the coronavirus pandemic so unsettling: No one knows what will happen. Different models predict different numbers of people getting infected with the coronavirus in the coming months. As the models show, more infections will mean higher health care costs overall. This article will identify critical areas to monitor and discuss the implications for health care marketplace costs.

01 May

Posted at 19:38h in COVID-19, Risk Management by . .

HR Insights Blog HeaderDuring the coronavirus disease (COVID-19) pandemic, some employers are currently staying open as essential businesses—for organizations that are not open, many plan to welcome back employees shortly.

The Centers for Disease Control and Protection (CDC) advises that face coverings should be worn in public, including places of employment. There are many questions about the differences between masks and face coverings, and which is appropriate to wear. By familiarizing yourself with best practices related to masks and face coverings in the workplace, employers can help prevent the spread of COVID-19.

01 May

Posted at 18:48h in COVID-19, Employee Benefits by . .

On April 28, 2020, the Departments of Labor (DOL) and the Treasury (Departments) issued deadline relief to help employee benefit plans, plan participants and plan service providers impacted by the COVID-19 outbreak.

This Compliance Overview summarizes the participant deadline extensions affecting COBRA continuation coverage, special enrollment periods, claims for benefits, appeals of denied claims and external review of certain claims. It also includes the deadline extension pursuant to the DOL’s Disaster Relief Notice 2020-01, for notices and disclosures required under the Employee Retirement Income Security Act (ERISA).

01 May

Posted at 18:44h in COVID-19, Employee Benefits by . .

Know Your Benefits HeaderThe following information comes from the Department of Labor (DOL). This information was last updated April 28, 2020.

The Department of Labor (Department) is issuing these Frequently Asked Questions (FAQs) to help employee benefit plan participants and beneficiaries, as well as plan sponsors, and employers, impacted by the COVID-19 outbreak understand their rights and responsibilities under Title I of the Employee Retirement Income Security Act of 1974 (ERISA). In addition to providing this general guidance, the Department has issued the following other COVID-19 notices:

30 Apr

Posted at 17:59h in COVID-19, Employee Benefits by . .

Legal Update HeaderOn April 28, 2020, the Departments of Labor (DOL) and the Treasury (Departments) issued  deadline relief to help employee benefit plans, plan participants and plan service providers impacted by the COVID-19 outbreak.

Extension of Participant Timeframes

The Departments issued a final rule to provide plan participants with additional time to comply with certain deadlines affecting COBRA continuation coverage, special enrollment periods, claims for benefits, appeals of denied claims and external review of certain claims. With regard to disability, retirement and other plans, the final rule provides additional time for participants and beneficiaries to make claims for benefits and appeal denied claims.