December 17, 2020
SMART Goal Revamp
January brings chilly winds from the north and often marks the beginning of a new fiscal year for many in corporate America. Some use this month to prepare annual employee goals. The business climate caused by the COVID-19 pandemic in 2020 forced many companies to decide overnight how to ...
December 17, 2020
At the Corner of Diversity and Talent
When thinking of increasing diversity at work, recruiters may target applicants from a specific group or “candidate pool.” For example, a financial services firm may create a “Women in Finance” program for high school students to attract female candidates to their private wealth practice. This ...
December 17, 2020
Employee Assistance Program Myths Debunked
Does this sound familiar? You receive an email from your HR department reminding you of access to the Employee Assistance Program (EAP) and without thinking twice, you hit delete. It sounds confusing, and heck, you have medical benefits so why bother? While Employee Assistance Programs have ...
December 17, 2020
More than Reasonably Priced Furniture: The Ikea Effect
You may shudder recalling the last time you ordered something online, and it arrived in individual boxes with a lengthy set of instructions and an Allen wrench. Believe it or not, a team of Harvard researchers conducted a study on products that involve a do-it-yourself component. You may wonder ...
December 16, 2020
Final Rules on Grandfathered Group Health Plan Coverage
In response the President’s Executive Order 13765 “Minimizing the Economic Burden of the Patient Protection and Affordable Care Act Pending Repeal” issued on January 20, 2017, the Department of Health and Human Services (HHS), Department of Labor (DOL), and the Department of the Treasury ...
December 16, 2020
Compliance Recap | November 2020
November was a relatively busy month in the employee benefits world. The U.S. Supreme Court (Supreme Court) heard oral arguments in the case of California v. Texas, which is the case challenging the constitutionality of the ACA. The Internal Revenue Service (IRS) released the updated ...
December 16, 2020
Blue Cross Blue Shield Tentative $2.67 Billion Antitrust Settlement
Blue Cross Blue Shield Association (BCBSA) has recently reached a tentative $2.67 billion settlement arising out of a class action lawsuit filed more than eight years ago by subscribers seeking injunctive and compensatory relief arising out of BCBSA’s alleged violation of federal antitrust ...
December 16, 2020
Proposed 2022 Benefit Payment and Parameters Rule
The Centers for Medicare & Medicaid Services (CMS) has released a proposed rule and fact sheet for benefit payment and parameters for 2022. CMS has also released its draft 2022 actuarial value calculator and draft 2022 actuarial value calculator methodology. According to CMS, the proposed ...
December 16, 2020
Highlights of the Patient-Centered Outcomes (PCORI) / Comparative Effectiveness Fee
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 fee is due based on plan/policy years ending on or after October 1, 2012, and before ...
December 14, 2020
Frequently Asked Questions about the Patient-Centered Outcomes / Comparative Effectiveness Fee
You have a PCORI filing and payment obligation if: You sponsor a major medical self-insured health plan You sponsor a fully-insured health plan and a self-funded health reimbursement arrangement (HRA) You sponsor a health plan that meets minimum essential coverage only (MEC) Employer-sponsored ...
