Insights - Page 3 of 71 - Bim Group

Recent Insights

Unlock Your Prime-Time Energy Level: Achieve Optimal Productivity

READ TIME: 5 MINUTES In a world where many things compete for your attention, achieving a productive day can be challenging. Sometimes, working more hours can help you get more done, but it can also make you feel tired and stressed. Everyone only has 24 hours in a day. An essential aspect of enhancing productivity […]

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August 2023 Compliance Recap

READ TIME: 8 MINUTES In August, the IRS announced a decrease in the ACA affordability percentage to 8.39%. Both Colorado and Illinois expanded their leave laws. The Department of Labor released its updated version of the Premium Assistance Under Medicaid and the Children’s Health Insurance Program (CHIP) Notice. Employers prepared for the possibility of receiving […]

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IRS Significantly Decreases 2024 ACA Affordability to 8.39%

READ TIME: 10 MINUTES The Internal Revenue Service (IRS) recently released Revenue Procedure 2023-29, reducing the Affordable Care Act’s (ACA) affordability percentage to 8.39% for plan years beginning in 2024, down from 9.12% in 2023 (which was further decreased from 9.61% in 2022). The affordability percentage is the maximum rate of the employee’s household income […]

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Biden Administration Releases Mental Health Parity Proposed Regulations, Targeting Compliance

READ TIME: 5 MINUTES On July 25, 2023, the U.S. Departments of Treasury, Labor, and Health and Human Services (the “Departments”) released proposed rules on the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA), ensuring that health plans provide coverage for mental health and substance use disorder treatments (such as those for anxiety) […]

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What Employers Should Know in Light of Increased Health Plan Fiduciary Litigation

READ TIME: 4 MINUTES The Consolidated Appropriations Act of 2021 (CAA ’21) has caused quite astir, making it one of the biggest health plan challenges for employers since the passage of the Affordable Care Act. Under the CAA ’21, the Transparency in Coverage rule, and related Department of Labor (DOL) guidance, employers are now required […]

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Webinar | Make It a Win: Medical Loss Ratio Rebates

Tuesday, September 12, 2023 1 – 2PM CST Register Now Registration Code:UBA410EW Attend this month’s webinar to learn what the Medical Loss Ratio (MLR) is and how it may lead to an employer rebate. Gain insights into: The formula behind the medical loss ratio What the MLR says about your carrier if you receive a […]

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July 2023 Compliance Recap

READ TIME: 4 MINUTES July saw two proposed rules, one focusing on short-term, limited-duration health plans, and one addressing provider networks and data collection for the Mental Health Parity and Addiction Equity Act (MHPAEA). The PCORI fee was due on July 31 for plan sponsors of self-insured groups and HRAs. President Biden encourages group health […]

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New FAQ Guidance on No Surprises Act and Transparency in Coverage

READ TIME: 4 MINUTES Recently, the Departments of Labor, Treasury, and Health and Human Services (the “Departments”) released new frequently asked questions (FAQs) on the No Surprises Act and the Transparency in Coverage final rules, giving employers more guidance and clarity around health plan out-of-network providers and fee disclosures. Under the Affordable Care Act (ACA), […]

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Employers Encouraged to Expand Access to Group Health Plans

READ TIME: 5 MINUTES In a letter dated July 20, 2023, from the Center for Medicare and Medicaid Services (CMS) to employers, plan sponsors and issuers, the Biden-Harris Administration (the Administration) is encouraging those entities to expand mid-year enrollment opportunities in group health plans for employees and their dependents who are losing coverage under Medicaid. […]

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Webinar: Are You My Employee? The Importance of Proper Classification

Tuesday, August 8, 2023 1 – 2PM CST Register Now Attend this month’s webinar to learn how to identify the many classifications of employees and encourage uniformity and equity.Gain insights into: The legal differences between an employee and an independent contractor The three categories to consider when classifying an independent contractor Tax considerations for the […]

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