article thumbnail

Employer Reporting on Prescription Drug Pricing Due By 12/27

Griffin Benefits

Additionally, account-based plans, like health reimbursement arrangements (HRAs) and health care flexible spending accounts (FSAs), are not required to report. Finally, short-term limited duration insurance (which is typically an individual market product) is also exempt.

article thumbnail

2022 Health Insurance Outlook, Changes

InterWest Insurance Services

Allowing employees who had enrolled in one health plan option under their group health plan to change to another plan (such as switching insurance carriers or opting for a silver plan instead of a bronze plan).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Don’t enroll in COBRA until you understand these 5 questions

Benefit Resource Inc.

In this scenario, you may want to spend the extra time to research alternative coverage options through an exchange or directly through an insurance carrier. COBRA coverage is available for more than just medical insurance. Any employer-sponsored benefit is potentially eligible for COBRA coverage.

article thumbnail

Baby Health Insurance Playbook: 5 Steps to Plan for a Newborn

Corporate Synergies

A flexible spending account (FSA), which can be used to cover childcare and medical costs tax-free. A health savings account (HSA), which can also be used to cover medical expenses tax-free. But increasingly, doctors offer additional genetic screening and diagnostic tests that may not be covered under insurance.

article thumbnail

2nd COVID-19 Relief Bill Includes Many Other Changes 2021 & 2022!

Fringe Benefit Analysts

One of the best tools an employer can offer employees to help them reduce medical, dental, vision and daycare expense is a Flexible Spending Account (Section 125 Plan). During COVID many Americans were not able to spend their account down due to provider restrictions , cancellations in treatment, or lack of available care.

article thumbnail

Health Care Reform: 4 Ways to Find Health Insurance for Your Business

Insperity

Use a health insurance broker. Health insurance brokers specialize in finding insurance for companies. They will typically work with multiple insurance carriers, and provide you with informed recommendations on plans available from those carriers that best meet your needs.

article thumbnail

AMERICAN RESCUE PLAN ACT CONTAINS MANY EMPLOYEE BENEFITS RELATED PROVISIONS

Benefits Notes

This includes self-funded and fully-insured plans, multi-employer plans, and governmental employer plans. Health care flexible spending accounts are not subject to the ARPA provisions. All group health plans that provide major medical benefits subject to federal COBRA rules are subject to the ARPA COBRA rules. Tax Credit.