Insights - Bim Group

Recent Insights

Webinar: Mastering COBRA Every Day and in M&A

Tuesday, June 11, 2024 1 – 2PM CST Register Now Registration Code:UBA410EW   Attend this month’s webinar to learn how to administer COBRA effectively. Gain insights into: The determining factors for employer and employee COBRA eligibility The interaction between COBRA and leaves of absence Health plans and tax-favored accounts that can be used with COBRA […]

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HHS Finalizes Section 1557 Nondiscrimination Regulations under the Affordable Care Act

READ TIME: 7 MINUTES The Office of Civil Rights (OCR) at the U.S. Department of Health and Human Services (HHS) together with the Centers for Medicare and Medicaid Services (CMS) released regulations under Section 1557 of the Affordable Care Act (the “Final Rule”) on April 26, 2024. These final regulations follow almost two years after […]

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IRS Releases 2025 Limits for HDHPs and HSAs

READ TIME: 4 MINUTES The IRS recently issued Revenue Procedure 2024-25 to announce the 2025 inflation-adjusted amounts that apply to health savings accounts (HSAs), excepted benefit health reimbursement arrangements (EBHRAs), and high-deductible health plans (HDHPs). The newly announced figures result in increases in the applicable limits for 2025, including the maximum contribution limit for an […]

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FAQs about the Patient Centered Outcomes Research Institute (PCORI) Fee

READ TIME: 10 MINUTES The Patient-Centered Outcomes Research Institute (PCORI) fee initially applied from 2012 to 2019. However, in December 2019, the Further Consolidated Appropriations Act, 2020 extended the fee to 2029. The PCORI fee applies to all plans that provide medical coverage to employees. Medical coverage includes preferred provider (PPO) plans, health maintenance organization […]

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Inflation Adjusted Penalties for Health and Welfare Plans

READ TIME: 5 MINUTES The Department of Labor (DOL) recently released a final rule providing the adjusted civil penalty amounts for certain health and welfare plan violations assessed after January 15, 2024. The Employee Retirement Income Security Act (ERISA) provides for the imposition of penalties for a number of plan-related failures or administrative errors and […]

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April 2024 Compliance Recap

READ TIME: 7 MINUTES In April, a ban went into effect for most non-compete clauses, and the Centers for Medicare and Medicaid Services (CMS) portal opened for RxDC reporting submissions due June 1, 2024. The Equal Employment Opportunity Commission (EEOC) released final regulations mandating how employers with 15 or more employees must handle accommodation requests […]

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Do You Know Where Your Employees Are? Managing Taxes for a Growing Remote Workforce

READ TIME: 5 MINUTES Remote work remains a growing focus of employers with employees increasingly seeking jobs that permit remote or hybrid work arrangements. Though the flexibility and benefits of remote work for employees is highly desired, it comes with some additional considerations and potential tax complications for the employer. State Income Tax Withholding Considerations […]

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Group Health Plan Guide to COBRA

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits due to job loss, reduction in hours, death, divorce, and other life events the right to choose to temporarily continue health benefits provided by their group health plan. This guide includes: Employers required to offer COBRA Plan types […]

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Timely Responses Required for Requests under HIPAA’s Right of Access Rule

READ TIME: 4 MINUTES On December 15, 2023, the U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR), announced a settlement under the Health Insurance Portability & Accountability Act (HIPAA) Right of Access Rule. This penalty illustrates that the Right of Access Rule remains a focus of HHS and that health […]

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March 2024 Compliance Recap

READ TIME: 7 MINUTES ACA reporting is in its first year of the required electronic reporting for employers filing ten or more returns annually. Employers and employees must make changes to HSAs by the April 15 deadline. Employers of all sizes continued to prepare for the June 1 RxDC Reporting using the newly released instructions. […]

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