|
News & Updates
Click on any of the titles below to read full details.
Health Care Reform: Internal Claims and Appeals and External Review Processes For Group Health Plans and Health Insurance Coverage
Thursday, August 12, 2010
Group health plans and health insurance issuers (other than grandfathered health plans) must begin complying with new internal claims and appeals and external review procedures for plan years commencing on or after September 23, 2010. Plan sponsors likely need to update their claims review procedures before their next plan year begins. The rules applicable to the internal claims and appeals for group health plans, both insured and self-insured, are addressed in this alert.
Health Care Reform: Preventive Services Interim Final Rules Released
Thursday, July 23, 2010
On July 14, 2010, the Departments of Labor, Health and Human Services and Treasury released final interim rules implementing the preventive health services provisions under the Affordable Care Act. The rules are generally effective to group health plans and health insurance issuers offering group and individual health insurance coverage for plan years beginning on or after September 23, 2010. These rules do not apply to grandfathered health plans. Read our Client Alert for full details.
The Impact of Financial Reform on Executive Compensation
Tuesday, July 20, 2010
On July 15, 2010, the Senate passed The Dodd-Frank Wall Street Reform and Consumer Protection Act. Although the Act focuses in large part on regulating the financial services industry, it includes a number of significant executive compensation and corporate governance provisions that will apply broadly to public companies without regard to industry. This Alert summarizes the key executive compensation and corporate governance provisions in the Act.
Model Notices Available for New Health Care Reform Regulations
Monday, July 12, 2010
The Department of Labor has issued model notices for the following three new health care reform requirements: Extension of dependent coverage to age 26, Prohibitions on lifetime limits, and Patient Protection Disclosure.
Health Care Reform: Interim Final Regulations Released for Preexisting Condition Exclusions, Lifetime and Annual Limits, Rescissions, and Patient Protections
Monday, June 28, 2010
June 23rd the Departments of Labor, Health and Human Services, and Treasury released final interim regulations relating to preexisting condition exclusions, lifetime and annual limits, rescissions, and other patient protections under the Affordable Care Act. The Regulations will be published in the June 28, 2010 Federal Register. Employer notice requirements apply.
Health Care Reform: Grandfathered Health Plan Interim Final Regulations Released
Monday, June 21, 2010
June 14th the Departments of Labor, Health and Human Services, and Treasury released final interim regulations relating to the status of grandfathered health plans under the Affordable Care Act. These regulations, published in the June 17, 2010 Federal Register, explain the rules for determining whether a group health plan or health insurance coverage qualifies as a grandfathered health plan, how that status is maintained, and how a grandfathered health plan may lose its grandfathered status. Employers need to review this guidance closely and make some important decisions as to whether grandfathered health plan status is worth maintaining.
Small Employer Health Insurance Expense Tax Credit – Official IRS Guidance
Wednesday, May 19, 2010
On May 17th the Internal Revenue Service issued Notice 2010-44, its first official guidance interpreting Section 45R of the Internal Revenue Code, which was added by the Affordable Care Act. Section 45R makes a tax credit available for employee health insurance premiums to employers with fewer than 25 employees that pay average annual wages of less than $50,000. In large part, the Notice affirms the FAQs published by the IRS on this topic last month, though it does provide some new insights.
Health Coverage For Children To Age 26: Interim Final Regulations
Monday, May 10, 2010
The Departments of Labor and Health and Human Services published interim final regulations on extending health insurance coverage to adult children up to age 26. Under the Patient Protection and Affordable Care Act, employee benefit plans and health insurers who provide coverage for dependent children must make the coverage available until the attainment of age 26. These regulations apply to health coverage for plan years beginning on or after September 23, 2010.
DOL Updates Model COBRA Subsidy Notices – Notification Deadline May Be Soon for Certain Individuals
Thursday, April 29, 2010
On April 27, 2010, the U.S. Department of Labor (DOL) updated the information on its website to take into account the recent extension of the COBRA subsidy eligibility period to May 31, 2010, which was made by the Continuing Extension Act of 2010 (the CEA). Specifically, the DOL has posted the following updated materials — Model Notices, an Application for Expedited Review of a Denial of COBRA Premium Reduction, a Fact Sheet, and Frequently Asked Questions.
Important IRS Guidance on Tax Treatment of Health Coverage for Children Under Age 27
Wednesday, April 28, 2010
On April 27, 2010, the Internal Revenue Service issued Notice 2010-38, which provides important guidance regarding the tax treatment of employer-provided health coverage to employees’ adult children.
Health Care Reform Has Arrived (Part 3): “Benefits for Women and Responsibilities for Employers”
Tuesday, April 6, 2010
Certain benefits for women have been enacted as part of the Patient Protection and Affordable Care Act with which employers must comply.
Health Care Reform Has Arrived (Part 2): “Grandfathered Plans”
Thursday, April 1, 2010
The grandfathering relief allows certain plans in effect on the date of enactment to avoid the application of many of the new rules. Nevertheless, there are some healthcare reform provisions that do apply to grandfathered plans. Therefore, it is important not only to understand what makes a plan “grandfathered,” but also to distinguish between those provisions that are or are not applicable to grandfathered plans.
Health Care Reform Has Arrived
Tuesday, March 23, 2010
Health care reform has arrived as have new mandates on employers and medical service providers. On Sunday night, March 21, 2010, the U.S. House of Representatives passed the Patient Protection and Affordable Care Act (H.R. 3590), which had been previously approved by the Senate on December 24, 2009 (the “Reform Act”). With this law approved by both bodies, health care reform is now here, and has been signed into law today by President Obama.
ARRA Extended Through March 31, 2010
Thursday, March 4, 2010
President Barack Obama signed into law Tuesday the Temporary Extension Act of 2010 (HR 4691). This bill extends the federal subsidies of COBRA health care premiums as allowed under The American Recovery and Reinvestment Act of 2009 (ARRA) for another 31 days.
Paulette Jerpe Joins Benefits & Incentives Group as a Senior Consultant
Wednesday, January 20, 2010
Benefits & Incentives Group, Inc. is pleased to announce it has hired Paulette Jerpe as a Senior Consultant/Producer.
Benefits & Incentives Group Announces New Denver Metro Chamber of Commerce Health Plan
Tuesday, January 19, 2010
Benefits & Incentives Group has been named as one of nine Select Broker/Consultants authorized to market Chamber Health Plus, a program sponsored by the Denver Metro Chamber of Commerce and Anthem, designed for fully-insured employers with 51 to 300 enrolled employees. The program combines group health insurance from Anthem Blue Cross and Blue Shield with wellness services from Health Academy.
New COBRA Notices Are Here!
Thursday, January 14, 2010
Yesterday, the Department of Labor (DOL) released three new model notices for employers to assist them in notifying terminated employees of the subsidy program. The updated notices reflect the new subsidy period and the deadline for becoming eligible to receive the subsidy; they should immediately replace the earlier versions of these notices.
2010 Limits for Benefit Plans: Your Easy Reference Guide
Thursday, December 31, 2009
To reflect inflation and changes in the law, the U.S. government adjusts the limits for pension plans, Social Security, Medicare and other benefit programs, employers and plan participants must annually adapt their benefit plans to accommodate the new limits. We have gathered useful information for 2009 and 2010 in a quick and easy guide for you to use through the year.
COBRA Subsidy Extended
Thursday, December 29, 2009
Last week President Obama signed the Department of Defense Appropriations Act (2010 DOD Act) that extends federal COBRA health insurance premium subsidies that were made available by the American Recovery and Reinvestment Act of 2009 (ARRA).
Benefits & Incentives Group, Inc. Joins the HR & Benefits Advistory Group as a Participating Firm
Wednesday, August 12, 2009
Benefits & Incentives Group, Inc. has become the newest Participating Broker of the HR & Benefits Advisory Group (HRBA Group), a national group of affiliated independent Human Resources and Benefits Advisors.
Increased HIPAA Security Requirements Under the Stimulus Bill (ARRA)
Tuesday, June 9, 2009
The recent American Recovery and Reinvestment Act (ARRA) contains a number of changes to the Health Insurance Portability and Accountability Act (HIPAA) privacy and security rules. Among the most important changes are new notification obligations in cases of breaches of protected health information (PHI).
DOL Releases Model COBRA Subsidy Notices
Thursday, March 19, 2009
The American Reinvestment and Recovery Act (ARRA) mandates that new COBRA notices be sent to all COBRA or state continuation eligible employees terminated between September 1, 2008 and December 31, 2009. The Department of Labor (DOL) has created different notices based on type the type of termination or eligibility.
American Recovery and Reinvestment Act (ARRA) and COBRA Subsidy Update
Thursday, March 12, 2009
The COBRA subsidy under the American Recovery and Reinvestment Act (ARRA) has raised a number of questions. We have prepared some resources to guide you in complying with the new legislation. The Department of Labor (DOL) is required to provide modified COBRA Notices and Election forms by March 19th. If your employees are calling you requesting COBRA effective March 1st, you can add them to your group coverage at this time, and we have provided a sample election form for your use.
COBRA Expansion Under the Economic Stimulus Bill
Wednesday, February 18, 2009
Tuesday President Obama signed the $789 billion economy-recovery package, which includes a $24.7 billion COBRA provision estimated to help 7 million people according to an estimate by the Joint Committee on Taxation. The new law, known as the American Recovery and Reinvestment Tax Act of 2009 (the Act), will allow eligible individuals to receive premium assistance to offset the cost of COBRA continuation coverage.
COLA for Pension Plans 2009
Wednesday, October 22, 2008
Thursday the Internal Revenue Service announced cost-of-living adjustments for Pension Plan limitations in the year 2009. Many of the pension plan limitations will change for 2009, because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment.
Benefits & Incentives Group Welcomes Kandy Biesterfeld and Laurie Gerdes
Wednesday, October 1, 2008
Benefits & Incentives Group, Inc. recruits Kandy Biesterfeld and Laurie Gerdes as Vice Presidents and Senior Consultant/Producers. As members of BIG’s senior management team, Ms. Gerdes and Ms. Biesterfeld will help continue the development of superior products and services for our clients as well as guide the company’s continued growth.
|
