27 Apr

Posted at 21:09h in COVID-19, Employee Benefits by . .

Benefits and Marketplace Trends Through the Lens of COVID-19

Even the most optimistic person will concede that the world won’t be returning to exactly how it was before the coronavirus pandemic. The coronavirus and its disease, COVID-19, has killed tens of thousands, and infected hundreds of thousands more, forcing the majority of Americans to stay home—many without a paycheck. This pandemic has impacted nearly every aspect of life in the United States and beyond: Jobs have been lost, stocks have plummeted and no one is sure when a new “normal” will arrive. Despite these and other uncertainties, employers have an opportunity to assess the current benefits landscape and take stock of improvement areas. In other words, what’s changing and how might that impact the marketplace down the road? This article will examine how drastically things have shifted during the coronavirus pandemic and what shake-ups to expect in the future.

23 Apr

Posted at 17:43h in COVID-19, Employee Benefits by . .

Know Your Benefits HeaderOn March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law. In addition to providing direct financial assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax provision of the Affordable Care Act (ACA), expanding the list of qualifying expenses that can be purchased with health savings accounts (HSAs).

CARES Act and Qualifying Medical Expenses

23 Apr

Posted at 17:31h in COVID-19, Employee Benefits by . .

Know Your Benefits HeaderOn March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law.

In addition to providing direct financial assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax provision of the Affordable Care Act (ACA), expanding the list of qualifying expenses that can be purchased with flexible spending accounts (FSAs).

CARES Act and Qualifying Medical Expenses

17 Apr

Posted at 21:32h in COVID-19, Employee Benefits by . .

The Departments of Labor, Health and Human Services and the Treasury (Departments) have provided answers to frequently asked questions (FAQs) regarding health coverage issues related to COVID-19, including implementation of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act).

These new laws require health plans and issuers to cover certain items and services related to the diagnosis of COVID-19 without imposing any cost- sharing requirements (including deductibles, copayments and coinsurance) or prior authorization or other medical management requirements. According to the Departments’ FAQs, health plans and issuers must provide notice of the changes to plan participants as soon as reasonably practicable.

07 Apr

Posted at 15:31h in Employee Benefits White Papers, White Papers by . .

Telemedicine As technology has developed, so has people’s ability to overcome the traditional communication barriers of time and distance. The practice of telemedicine is a step forward in the health care industry to use telecommunication to bridge the gap of time, distance and affordability to reach patients in need of medical attention. What is Telemedicine? […]