It has never been more important to be educated about emerging trends in health plan solutions and be ready, able and equipped to have open and honest conversations about all available models. Employers are faced with increasing healthcare costs and they’re looking for replacement solutions that are more affordable for them and their employees. Healthcare…
Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year. The following commonly offered employee benefits are subject to these limits: This Compliance Overview includes a chart of the inflation-adjusted limits for 2023. Due to high rates of inflation, all of these limits will substantially increase…
Sleep is crucial for your overall health and well-being. There are generally considered to be four sleep stages—awake, light, deep and REM sleep. Deep sleep is the key repair and restorative stage of sleep, and it’s necessary to feel your best each day. Learn what deep sleep is and how to improve it for overall…
Health care costs continue to rise, which means employers need to take every opportunity to lower expenses. One strategy is to employ reference-based pricing (RBP). RBP enables employers to set limits on certain medical services, shifting the cost-analysis burden onto employees. How it Works RBP works by setting spending limits on certain procedures or services—meaning…
It has become increasingly important for employers to offer some form of an employee benefits package in order to attract and retain a strong workforce. Additionally, employers may want to protect their company from the risks associated with offering employee benefits. While employers have traditionally insured their employee benefits risks through an outside insurance carrier,…
Most employers are concerned about their health care costs rising in 2023. According to Willis Towers Watson’s (WTW) 2022 Emerging Trends in Health Care Survey, 94% of employers reported managing health care benefits costs will be their top priority over the next two years. Employers will likely avoid shifting costs to employees because of the…
Now more than ever, employees are looking to their employers for guidance on navigating their available benefits. Employees are likely paying more attention this year as they navigate record-high inflation and work to maximize every hard-earned dollar. During the 2023 open enrollment season, employers should be poised to provide their employees with resources and tools…
On Oct. 18, 2022, the IRS released Revenue Procedure 2022-38 (Rev. Proc. 22-38), which includes the inflation-adjusted limit for 2023 on employee salary reduction contributions to health flexible spending accounts (FSAs). The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health FSAs. This dollar limit is indexed for cost-of-living…
The “No Surprises Act” (NSA) was enacted on Dec. 27, 2020, as part of the Consolidated Appropriations Act, 2021 (CAA), to increase health care transparency and protect consumers from surprise medical bills. Effective for plan years beginning on or after Jan. 1, 2022, the NSA provides federal protections against surprise medical billing by limiting out-of-network…
Influenza (flu) season lasts from October through May in the United States, with peak flu activity happening between December and March. The country’s flu activity has been unusual since the COVID-19 pandemic began, which could pose consequences for the upcoming season. Furthermore, flu season in the Southern Hemisphere may indicate what’s to come in the…