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Health & Welfare Plans Newsletter November 1, 2018 |
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Jobs |
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Webcasts, Conferences WEB Baltimore & ISCEBS Baltimore Joint Networking & Social Event
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Discussions |
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This Newsletter:
BenefitsLink Retirement Plans Newsletter:
Message Boards Digest:
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[Guidance Overview]
Massachusetts Health Insurance Responsibility Disclosure "In order to remain in compliance, Massachusetts employers with 6 or more full-time equivalent (FTE) employees must complete an employer health insurance responsibility disclosure (HIRD) form by November 30.... An employer must submit the HIRD reporting through the MassTaxConnect (MTC) web portal. If the employer uses a payroll company, the payroll company may submit the form on the employer's behalf."
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[Guidance Overview]
IRS Proposed Regs Would Reinvigorate HRAs, But Add Complexity "[Future IRS] guidance is expected to create a safe harbor allowing the employer to satisfy the minimum value requirement if the employee's individual health insurance policy meets 'minimum value' (at least 60 percent actuarial value) and if, taking into account the employer's subsidy through the HRA, the premium cost to the employee is affordable.... [An] employer would be allowed to offer group major medical coverage to full-time employees but only an HRA to part-time employees, or offer group major medical coverage to employees in one state but only an HRA to employees in another state."
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[Guidance Overview]
Agencies Respond to Trump Order, Issue Proposed Regs Paving Way for More HRAs "The proposed 'Integrated HRA' rules would permit employers of any size to offer a standalone HRA to employees and former employees who have individual health coverage.... As an alternative to the Integrated HRA option, the Proposed Rule would recognize certain HRAs as limited excepted benefits (Excepted Benefit HRA). An Excepted Benefit HRA would allow participants to obtain reimbursement for certain qualified expenses even if they choose not to enroll in an employer's group health plan coverage."
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$16 Million Record-Breaking HIPAA Settlement "While this phishing attack took place in 2015, it is another example in the increasing trend of phishing campaigns and the significant reach these cyberattacks can have on targeted companies.... [W]hile an enterprise-wide risk analysis is important and required, less time consuming efforts can also be extremely effective preventive measures.... [P]hishing awareness programs (including an organization phishing campaign) can go a long way in addressing the significant human factor in decreasing these types of cyberattacks."
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OCR Provides Recommendations During National Cybersecurity Awareness Month (PDF) "Because ePHI identifies individuals and includes information regarding an individual's health, treatment, or treatment payment information, it presents a tempting target for bad actors ... [T]here are many basic cybersecurity safeguards that HIPAA covered entities and business associates can deploy to greatly reduce the impact of attempted cyberattacks.... Encryption ... Social Engineering ... Audit Logs ... Secure Configurations."
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Open Enrollment Mistakes That Can Haunt "A strong communications strategy is one that's planned in advance, has messages crafted for specific audiences and has thought around when those messages are delivered.... Look for a technology provider that enables just-in-time education through features like videos embedded in the enrollment experience.... Technology that provides constant visibility into the movements of your data can give you confidence that everything is in order. And if it's not, you're able to act quickly to make sure any mistakes are fixed before it's too late."
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Creating Health and Wellness Programming that Fosters a Culture of Health "[P]artner with your healthcare provider and get reports on your claims data -- specifically look for what are the largest challenges faced by your group and understand how moving the needle on different ailments will make a difference in healthcare outcomes and claims.... [A]sk employees directly about the types of activities they would like to do, what topics are of interest to their family and friends, and what their organization can do to make them feel supported in their health and wellness journey ... [U]se these findings to develop focus group questions and ask employees how they would like to see interventions in these areas come to life."
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Despite HSA Popularity, Owners Not Maximizing Contributions or Investments (PDF) "Half of HSA owners contributed to their account in 2017, and 36 percent of HSAs did not receive any contributions (individual or employer) in 2017. Among accounts with contributions, individual contributions in 2017 averaged $1,949 and employer contributions averaged $895. Only 13 percent of account holders contributed the fully allowable annual amount. Investment potential was even less realized. A mere four percent of HSA owners had invested assets beyond cash."
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Untangling Coverage Choices as Sign-Up Season Starts Under ACA "After skyrocketing last year, premium prices in many places have stabilized, as insurers adjust overpriced policies and more competitors enter, or return, to the market. But what you pay will still vary greatly based on your income, location and plan level. Premiums for a benchmark 'silver' plan are expected to dip 1.5 percent on average after rising sharply for two years. The variation is so wide, though, that people in Tennessee could see double-digit declines while those in North Dakota may see steep increases."
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Employer-Sponsored Health Plan Costs in Virginia Outpace U.S. Average "Surveyed employers in Virginia reported that, if they made no changes to their current plan for 2019, the cost would rise by 6.1 percent next year, but changes to their plan design and plan vendors should keep the cost increase to 3.5 percent. Nationally, smaller employers, with 10 to 499 employees, saw a greater average cost increase -- 5.4 percent -- than larger employers."
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Benefits in General |
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Mitigating the Risk of Cyber Attacks to Your Employee Benefit Plan "[The DOL has] identified four areas of effective practices. [1] Data management -- protect and control data; and ensure that your employee benefit plans fall under the organization's cybersecurity policies. [2] Technology management -- maintain up-to-date technology and perform routine scans for potential vulnerabilities. [3] Service provider management -- understand the data security controls at your third-party service providers as well as their procedures in the event of a breach. [4] People management -- properly train and manage your employees."
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"Common compliance challenges when setting up and running a health insurance program: [1] Offering coverage to ineligible employees/individuals [2] Providing better 'family office' benefits as compared to ''rank and file'' benefits... [3] (In) Appropriately continuing coverage.... [4] Accessing or accepting health insurance information or information regarding employee coverage...Common pitfalls in adopting a 401(k) plan: [1] Assuming the plan Is on 'auto-pilot'... [2] Not closely monitoring payroll set-up... [3] Confusing how 'covered' the fiduciaries are."
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Selected Discussions |
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Has there been any news about the possibility of new Form 5500s with major updates for the 2019 plan year?
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Press Releases |
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Empower Retirement Voted No. 1 by Plan Advisors in Six Key Categories
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Trucker Huss Recognized in 2019 Best Law Firms List
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Russell Investments Hires Jennifer McPeek as New Chief Financial Officer
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Most Popular Items in the Previous Issue |
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Proposed Rules Would Permit HRAs to Be Integrated with Individual Health Insurance Coverage
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Connect
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BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
(407) 644-4146
Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager
BenefitsLink Health & Welfare Plans Newsletter, ISSN no. 1536-9595. Copyright 2018 BenefitsLink.com, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.
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