Insights - Page 3 of 64 - Bim Group

Recent Insights

Annual Notices Packet 2022-2023

READ TIME: 2 MINUTES UBA has updated the annual notices packet for UBA Partners who have clients disseminating these notices in open enrollment meetings. There have been no major changes to the notices. The updated packet includes the notice about rights and protections against surprise medical bills, to comply with the No Surprises Act, and […]

Read more

IRS Releases Draft ACA Reporting Forms

READ TIME: 2 MINUTES The Internal Revenue Service (IRS) recently provided a first look at draft versions of Forms 1094-B and 1095-B and Forms 1094-C and 1095-C for employers to file in 2023 to report offers of coverage for 2022. Self-funded plan sponsors who are not applicable large employers (ALEs) will use Forms 1094-B and […]

Read more

Employers Should Prepare to Issue Medicare Part D Notices

READ TIME: 6 MINUTES October 15 is just around the corner, so employers should already be planning to meet their annual Medicare Part D notice obligations. Under the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA), employers that offer prescription drug coverage must notify Medicare-eligible individuals as to whether their prescription drug coverage […]

Read more

Plan Sponsors Should Prepare for Medical Loss Ratio Rebates in 2022

READ TIME: 5 MINUTES The Kaiser Family Foundation recently reviewed industry data submitted by insurance carriers to state regulators and has forecast that employers who sponsor fully insured group health plans should expect to receive historically large medical loss ratio (MLR) rebates starting in September. The total rebate amounts are not expected to be quite […]

Read more

IRS Announces 2023 ACA Affordability Safe Harbor

READ TIME: 3 MINUTES The Affordable Care Act (ACA) requires applicable large employers (ALEs) to make an offer of group health coverage to at least 95% of its full-time (i.e., regularly working at least 30 hours per week) employees or pay a shared responsibility penalty assessed by the IRS if at least one employee gets […]

Read more

Webinar: Medicare 101

Tuesday, Septemeber 20, 2022 1 – 2PM CST Register Now Medicare impacts employer administration and employee utilization of their group medical insurance plan in many ways. Employers need to manage: Coordination of benefits between Medicare and the group health plan Reporting Medicare and HSA contribution pitfalls Open enrollment periods Claim subrogation This webinar will help […]

Read more

Compliance Recap: June/July 2022

READ TIME: 10 MINUTES The summer has seen a flurry of compliance-related activity, most notably the landmark decision issued by the U.S. Supreme Court to overturn Roe v. Wade. As we move into the second half of the 2022 employee benefits compliance calendar, there are a number of important issues to note. SCOTUS OVERTURNS ROE V. […]

Read more

Kentucky Flooding Disaster Relief Resources

Our thoughts and prayers are with the devastated Kentucky communities that have been impacted by last week’s flooding. Please see below for various disaster relief resources: Teladoc Disaster Hotline Team Eastern Kentucky Flood Relief Fund Shelter information and resources Anthem – Help for Members Impacted by Flooding in Kentucky

Read more

The Play-or-Pay Penalty and Counting Employees under the ACA

Since 2015, the Affordable Care Act (ACA) has required applicable large employers (ALEs) to offer their full-time employees health coverage or pay one of two shared responsibility penalties (ESRP or “play-or-pay”). An employer is an ALE if it employs 50 or more full-time or full-time equivalent employees. Final IRS regulations provide guidance to help employers […]

Read more

HHS Issues Proposed Rules under ACA Section 1557 to Clarify Scope of Discrimination Protections

READ TIME: 7 MINUTES The U.S. Department of Health and Human Services (HHS) has announced a proposed rule (Proposed Rule) implementing Section 1557 of the Affordable Care Act (ACA) that prohibits discrimination on the basis of race, color, national origin, sex, age, and disability in certain health programs and activities. The Proposed Rule is the […]

Read more