**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 program […]
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Compliance Recap // April 2017
In April, government agencies ramped up their activities by issuing a final rule, updating guidance, and announcing increased Health Insurance Portability and Accountability Act of 1996 (HIPAA) enforcement. The Internal Revenue Service (IRS) updated its webpage that summarizes employer shared responsibilities payments and their calculation. The Department of Health and Human Services (HHS) Centers for […]
Read moreCompliance Recap // February 2017
February had relatively little activity in the employee benefits world because a new Secretary of the Department of Health and Humans (HHS) was recently confirmed and HHS started its rulemaking under the new administration. On February 10, 2017, the U.S. Senate confirmed Rep. Tom Price as the new Secretary of HHS, who has a budget […]
Read moreMedicare Part D Creditable Coverage Notice – Due October 15th
It’s that time again; time to send a Medicare Part D notice of creditable coverage to your eligible employees letting them know whether or not the prescription drug coverage you offer them is creditable. All employers, regardless of size, who sponsor group health plans with prescription drug coverage must provide notification annually by October 15 […]
Read moreMedicare Part D Creditable Coverage Notice – Due October 15th
It’s that time again; time to send a Medicare Part D notice of creditable coverage to your eligible employees letting them know whether or not the prescription drug coverage you offer them is creditable. All employers, regardless of size, who sponsor group health plans with prescription drug coverage must provide notification by October 15 each […]
Read moreCompliance Recap // April 2015
Regulatory agencies were quiet during the month of April. The most significant guidance came from a variety of federal agencies that issued various documents regarding wellness programs. In addition to a Proposed Rule (discussed below) issued by the Equal Opportunity Employment Commission (EEOC) to align wellness program requirements with Title I of the Americans with […]
Read moreCompliance Recap // January 2015
IRS Releases Information and Forms for Satisfying the Individual Mandate and Claiming 2014 Premium Tax Credits Although employers are not required to offer coverage during 2014, individuals are generally required to have health coverage during 2014 and must report on that coverage through their 2014 federal income tax return. In many cases, the employee will […]
Read moreMedicare Part D: Creditable Coverage Disclosure Notices Due by Oct. 14
The Medicare Prescription Drug, Improvement and Modernization Act of 2003 (MMA) created a voluntary prescription drug program for Medicare Part D eligible individuals. Under the MMA, group health plans — or entities that offer prescription drug coverage on a group basis to active and retired employees and to Medicare Part D eligible individuals — must […]
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