November 27, 2018

On October 23, 2018, the Internal Revenue Service, the Department of Labor and the Department of Health and Human Services released a proposed rule broadening the availability and use of health reimbursement arrangements (HRAs). The proposed rule comes in response to President Trump’s executive order from October 2017, which called for the expansion of employers’ ability to offer HRAs to their employees and allow HRAs to be used in conjunction with non-group coverage. The newly proposed rule would seek to “expand opportunities for working men and women and their families to access affordable, quality healthcare” through changes to regulations under various provisions of the Public Health Service Act (PHSA), the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC). The proposed effective date is for plans beginning on or after January 1, 2020.

November 27, 2018

Open enrollment season is here and employees electing a high-deductible health plan (HDHP) with a health savings account (HSA) must decide how much to contribute to their HSA for 2019. What’s a good recommendation? Employees should prioritize their HSA ahead of their 401(k), maxing out their HSA contributions if possible. Here’s why:

November 27, 2018

The HIPAA Breach Notification Rule requires HIPAA-covered entities and their business associates to notify patients and other parties following a breach of unsecured protected health information (PHI). Similar provisions implemented and enforced by the Federal Trade Commission (FTC) apply to vendors of personal health records and their third-party service providers.

September 12, 2018

The Department of Labor (DOL) announced increased 2018 penalties for employee benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA). The increases generally apply to penalties that involve employee benefit reporting and disclosure failures if the penalty is assessed after January 2, 2018, and if the violation occurred after November 2, 2015. As a background, the 2015 Inflation Adjustment Act directs the DOL to annually adjust for inflation certain penalties for specified ERISA violations.

September 12, 2018

Last year, I noticed that a drug I used to pay less than $10 a month for suddenly became subject to a $10 copay when I purchased it at my normal pharmacy. I questioned the pharmacist, who said I needed to call my insurer to find out why the cost had gone up. However, when I read my pharmacy bag tag, I noticed that it was missing the “your insurance saved you $XX” line, which I have made a habit of noting through the years. I questioned the pharmacist again and received a quick, “Ma’am, you’re going to have to question your insurance company.”

September 12, 2018

With the beginning of Open Enrollment season, it may be helpful for potential FSA enrollees to consider some key questions to assist them in accurately projecting their annual FSA or Limited FSA election for 2019.

September 12, 2018

According to the Department of Health and Human Services (HHS) Office of Civil Rights (OCR) Breach Reporting Portal, by the end of June the number of 2018 reported breaches had already surpassed the total of breaches reported in 2017. As of August 2018, 3.7 million individual records had been reported as compromised compared to the approximate 2.7 million in all of 2017. The causes for the increase in reported breaches cannot entirely be confirmed, but education on reporting requirements along with an emphasis on high-profile data breaches in the media are likely some of the reasons for the increase.

May 17, 2018

The IRS has recently released answers to Frequently Asked Questions (FAQs) for employers who want to claim a business credit on wages paid to an employee (who earned up to $72,000 in 2017) on paid family and medical leave, who met certain conditions. The IRS has adopted Section 45S, also referred to as Employer Credit for Paid Family and Medical Leave. To claim the business credit, employers must have a written policy that meets certain requirements, including the following items:

May 17, 2018

As medical premiums continue to increase, it is important for employers to remain informed regarding healthcare industry trends and averages. This is especially important for highly competitive industries as employers struggle to maintain talent. Chard Snyder is sharing the United States Department of Labor’s (US DOL) latest statistics for your information.