Insights - Bim Group

Recent Insights

Departments Issue Interim Final Rule on Group Health Plan Cost and Pricing Disclosure

READ TIME: 5 MINUTES On November 17, 2021, the Internal Revenue Service (IRS), U.S. Department of Labor (DOL) and Health and Human Services (HHS) (collectively, the “Departments”), with the Office of Personnel Management (OPM), issued interim final regulations (IFR) to provide guidance regarding health care transparency provisions of the Consolidated Appropriations Act, 2021 (CAA). The […]

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Internal Revenue Service Issues Tax Inflation Adjustments for 2022

The Internal Revenue Service (IRS) issued Revenue Procedure 2021-45, which announces the annual inflation adjustments for tax year 2022. The revenue procedure provides adjustments for more than 60 tax provisions, including health flexible spending accounts under cafeteria plans and qualified small employer health reimbursement arrangements. For health flexible spending arrangement contributions, the dollar limitation on voluntary […]

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HR Elements | Grief: The Underbelly of Change

READ TIME: 3 MINUTES A big raise, a colleague relocating to a different office, and training on a new client onboarding system… all three of these items have one thing in common: change. Initial reactions run the gamut. A big raise may mean you rally the troops for a celebratory happy hour, while losing an […]

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Federal Requirements for Fully Insured and Self-Funded Plans

A plan sponsor’s requirements under federal law will vary depending on factors such as group health plan design, size, grandfathered status, and whether the plan is fully insured or self-funded. The lists HERE highlight the main federal requirements that apply when a plan is fully insured and when a plan is self-funded.       […]

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Frequently Asked Questions About the Biden Administration’s Vaccine Mandate

We are aware of the Federal Court of Appeals’ temporary halt to the Biden administration vaccine mandate. We provide these informational FAQs for those interested as we continue to monitor the outcome of the temporary halt of the order. SOURCE: The New York Times Who Is Affected Which employers are covered by OSHA’s rule? Companies […]

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OSHA Issues Emergency Temporary Standard Regarding COVID-19 Vaccine Mandate

(READ TIME: 2 MINUTES) The Occupational Health and Safety Administration (OSHA) released the emergency temporary standard (ETS) requiring businesses with at least 100 employees to mandate employee vaccinations or wear masks and be tested for COVID-19 at least weekly. Highlights of the ETS include: Employees must be vaccinated by January 4, 2022 Employees that remained […]

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October 2021 Compliance Recap

READ TIME: 5 MINUTES October was a relatively quiet month in the compliance space. While we are still waiting for the U.S. government to release the guidance on broker compensation disclosures, here are the highlights of happenings in October. FAQs from the Departments on COVID-19 Vaccines and Employer-Sponsored Group Health Plans On October 4, the […]

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HR Elements: The Myth of Done

(READ TIME: 5 MINUTES) “I am so busy.” This is a standard response if you ask a handful of people how work is going. For many, busy is a positive response. It implies they are needed at work and passionate about what they do. But for others, this busyness feels more like an anchor pulling […]

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Federal Marketplace Open Enrollment Starts November 1, Extended Enrollment Period

(READ TIME: 1 MINUTE) The federal health insurance marketplace will begin open enrollment for 2022 plan coverage on November 1, 2021. To boost access to affordable coverage, the marketplace will extend the open enrollment period until January 15, 2022. This gives consumers an additional 30 days to review and choose a plan. Historically, the open […]

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Webinar: End Of Year Compliance Reminders And Look Ahead Into 2022

Tuesday, November 9, 2021 2:00 p.m. ET / 11:00 a.m. PT Register Now With the end of 2021 fast approaching, it’s time to consider what still needs to be done for the year and what’s coming on the compliance track. This webinar will assess what compliance actions are still outstanding for the year, including end-of-year […]

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