Remind Your Employees to Take Care of Their Health Self-care has become a bit of a buzzword in the conversation about mental health amidst the pandemic. Google Trends shows that searches for this term have more than doubled since 2015, highlighting its recent popularity. I expect that this trend line will only continue to rise. Self-care is defined by the World Health Organization as: “the ability of individuals, families, and communities to promote health, prevent disease, maintain health, and to cope with illness and disability with or without the support of a healthcare provider.” It’s a br ..read more

On Monday, October 26, 2020, the Internal Revenue Service (IRS) released Revenue Procedure 2020-45, which officially maintained the maximum Health Flexible Spending Account (FSA) contribution limit at $2,750 for calendar year 2021. The allowable amount of carry-over for FSA plans that have adopted a carry-over provision has been increased to $550 effective for 2020 and 2021 plan years. Contribution limits effective January 1, 2021 are: Type 2020 2021 Health FSA $2,750 $2,750 Dependent Care $5,000 $5,000 Transportation (Parking) $270/month $270/month Transportation (Transit) $270/mo ..read more

In the past few years, organizations have placed a greater emphasis on planning for crisis situations via operational readiness and communication planning. This work has been focused on traditional crisis scenarios, but these unusual times remind us of the value of crisis management planning. The COVID-19 pandemic has altered the operations of most organizations, with the virus being an active concern. This environment has created additional reputational risks for organizations, with concerns about how their handling of the virus could affect their brand. This is a situation in which operatio ..read more

On October 2, 2020, the Internal Revenue Service (IRS) issued IRS Notice 2020-76. This IRS notice provides a delay for certain Affordable Care Act (ACA) employer reporting requirements. According to the IRS notice, the following employer ACA reporting deadline was delayed: Individual/Employee Forms: The employer deadline for sending Forms 1095-B or 1095-C to individuals (employees) has been delayed from January 31 to March 2, 2021. Good Faith Transition Relief: Reporting entities (including employers) that can show they made a good-faith effort to comply with the 2020 information reporting r ..read more

M3 Insurance has released a supplement to the traditional Health Care Trend Report specifically focused on the impact of COVID-19 in the benefits market. The COVID-19 Impact on Health Care report offers employers insight regarding the ramifications of the pandemic on health insurance and overall benefit plans. The report includes employers’ reaction to the COVID-19 pandemic and how it could affect their benefits in the next year. It also provides an analysis of the short, medium and long-term impact of the virus on employer-sponsored health insurance plans. _______________________________ DO ..read more

For plan sponsors/employers, open enrollment is the perfect time to share required annual enrollment notices with plan participants/employees. Below is a list of notices that plan sponsors should provide in open enrollment materials or ensure that the carrier/TPA is providing them. Provided by Carrier/TPA (confirm with Carrier/TPA) Disclosure of “Grandfathered” Status – Any grandfathered plans must include a statement indicating its status as such in any materials describing benefits. Disclosure of Patient Protections: Choice of Providers – A non-grandfathered plan that requires designation ..read more

Effective July 1, 2020, residents of the State of Michigan may purchase automobile insurance policies with reduced personal injury protection (PIP) coverage under Michigan Public Acts 21 and 22 of 2019. Michigan is a no-fault auto insurance state that previously required all policies to include personal injury protection without a dollar maximum on coverage. To qualify for this change, Michigan residents must provide proof of Qualified Health Coverage if they wish to purchase automobile insurance coverage with reduced PIP limits. If the individual is covered under a fully-insured health plan ..read more

The Centers for Medicare & Medicaid Services (CMS) requires employers to notify individuals eligible for Medicare Part D of whether or not the employer’s prescription drug coverage is creditable. CMS defines “creditable coverage” as coverage which at minimum has the equivalent actuarial value of the Medicare Part D alternative. The purpose of the creditable coverage notice requirement is to permit Part D eligible individuals to make an informed decision about whether they want to enroll in the Part D prescription drug benefit. The notice must be given at the following times: Annually pri ..read more

Under normal circumstances, public entities face budgetary restrictions. COVID-19 has required counties and municipalities to stretch their dollars even further in order to maintain a high level of service to their communities while adapting to working remotely as well as social distancing and sanitation guidance. With budgets already in place, and unexpected expenses and reduced revenues likely have public entities looking for opportunities to cut costs in other areas of their financial plan – even employee benefits. The good news is that cost savings does not have to result in lower quality ..read more

18 min. listen M3’s Cindy Van Asten and Chris Halverson join Chris Woleske of Bellin Health to break down the way health systems have pivoted during the COVID-19 pandemic. They discuss everything from value-based care and employee mental health solutions to consumer behavior and cyber risk. LISTEN TO PODCAST This podcast is facilitated by Katie Oberkircher  of The Council of Insurance Agents & Brokers  and published by Leader’s Edge Magazine ..read more