READ TIME: 5 MINUTES Every year, group health plans are required to notify their Medicare-eligible policyholders whether their prescription drug coverage is “creditable coverage.” Drug coverage is creditable if it is as good or better than the Medicare drug benefit. If a Medicare-eligible individual is not enrolled in creditable coverage, they may incur late enrollment […]
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Attention: Medicare Part D Notice
Action Items: Step 1: If you have provided participants and new hires with the annual notice packet provided by Bim Group or generated through HR Service in the last 12 months, the Medicare Part D notice is included in this packet, so no additional action is required at this time for Step 1. If you have not […]
Read moreWebinar: What Employers Need to Know About Retiree Coverage
Tuesday, April 14, 2020 2:00 p.m. ET / 11:00 a.m. PT Register Now This webinar will help plan sponsors to understand the compliance issues surrounding retiree health plan coverage. This webinar will: Discuss which health care reform mandates and HIPAA portability rules retiree-only coverage is exempted from Discuss whether retirees that are included in a […]
Read moreAttention: Medicare Part D Notice
*If you provided participants and new hires with the annual notice packet provided by Bim Group or generated by HR Service in the last 12 months, the Medicare Part D notice is included in this packet so no additional action is required at this time. * What you should know: Medicare Part D is a federal […]
Read moreWebinar: What Employers Need to Know about Opt-Out Arrangements
Tuesday, August 13, 2019 2:00 p.m. ET / 11:00 a.m. PT Register Now This webinar will provide an overview of opt-out arrangements and spousal waivers by: Describing what an opt-out arrangement is Illustrating how opt-out arrangements may be structured, including whether the arrangement should be structured differently when it involves a fully-insured plan versus a […]
Read moreWebinar: What Employers Need to Know about the Medicare Secondary Payer Rules and the CMS Data Match Program
Tuesday, February 12, 2019 2:00 p.m. ET / 11:00 a.m. PT Register Now Medicare Secondary Payer (MSP) describes the situation when the Medicare program does not have primary payment responsibility for paying a claim. Employers with group health plans are greatly impacted by the MSP rules depending on their size. This webinar will help employers […]
Read moreMedicare Part D DEADLINE Reminder
Medicare Part D Reminder DEADLINE The Medicare Part D notice must be distributed by October 15 to all Medicare Part D eligible participants (employees, spouses, dependents, COBRA, etc…). **If you provided participants and new hires with the annual notice packet provided by Benefit Insurance Marketing or generated by HR Service, the Medicare Part D notice […]
Read moreHSA Corner: Handling HSA Contributions and Retroactive Medicare Coverage
The interaction between the health savings account (HSA) rules and the Medicare eligibility rules can be a tax trap for unsuspecting individuals who remain in the workforce past age 65. Medicare Part A coverage typically begins when an individual reaches age 65 and either enrolls in Social Security or independently elects to delay Social Security, […]
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