Health & Welfare Plans Newsletter

November 19, 2020

BenefitsLink.com logo
EmployeeBenefitsJobs.com logo
Get Retirement News   ·   Get Message Boards Digest   ·   Past Issues   ·   Search

Job Openings

View job as Retirement Plan Consultant for Definiti
View job as Retirement Plan Consultant for Definiti Retirement Plan Consultant

Definiti
Telecommute / Dallas TX / University Place WA / The Woodlands TX

View job as Retirement Plan Administrator for Prime Benefits Retirement Plan Administrator

Prime Benefits
Telecommute / Baltimore MD

View job as Compliance Coordinator for Ascensus Compliance Coordinator

Ascensus
Dresher PA

View job as Compliance Consultant for Ascensus Compliance Consultant

Ascensus
Dresher PA

View job as Senior Plan Consultant for Sentinel Benefits & Financial Group Senior Plan Consultant

Sentinel Benefits & Financial Group
Telecommute / Wakefield MA

►View More Jobs

►Post a Job

Get Job Alerts

Newly Posted
Webcasts, Conferences

Arbitration of ERISA Claims
December 15, 2020 WEBCAST
American Bar Association Joint Committee on Employee Benefits [JCEB]

►See All 43 Upcoming Webcasts and Conferences

►See All 1634 Recorded Webcasts


Discussions

New Topics on the BenefitsLink Message Boards

New Comments and Topics

All Topics, Grouped by Forum


This Newsletter:
Subscribe Now

BenefitsLink Retirement Plans Newsletter:
Subscribe Now

Message Boards Digest:
Subscribe Now


[Guidance Overview]

Connecticut Paid FMLA: What Employers Need to Know Now

"[L]ast summer, Connecticut enacted two separate laws -- one creating a paid leave benefit and the other amending, and expanding, the existing Connecticut Family and Medical Leave Act ... Employers must keep this statutory setup in mind, as certain provisions are unique to each of the two laws." Icon to read more

Jackson Lewis P.C.

[Guidance Overview]

IRS Addresses Options for Qualified Transportation Benefits Unused Due to COVID-19

"[IRS Information Letter 2020-0024] explains that unused compensation reduction amounts can be carried over to subsequent periods under an employer's plan and used for future commuting expenses, so long as the employee has made a valid compensation reduction election and remains employed by the employer.... [T]he letter cautions that the qualified transportation plan rules do not allow refunds of qualified transportation fringe benefits that are provided through a compensation reduction agreement." Icon to read more

Thomson Reuters / EBIA

AMA Prescribes Actions to Ease Negative Effects of High-Deductible Health Plans

"The new AMA policy encourages employers to: [1] Provide robust education to help patients make good use of their benefits to obtain the care they need. [2] Take steps to collaborate with their employees to understand employees' health insurance preferences and needs. [3] Tailor their benefit designs to the health insurance preferences and needs of their employees and their dependents. [4] Pursue strategies to help enrollees spread the costs associated with high out-of-pocket costs across the plan year." Icon to read more

American Medical Association [AMA]

Insurer-Affiliated PBMs Propel Parent Firms’ Revenues in Third Quarter

"Large insurer-affiliated PBMs saw strong results for the third quarter of 2020, in several cases driving revenues for parent companies that are grappling with various disruptive effects of the coronavirus pandemic. At CVS Health Corp., ... total revenues increased 3.5% year over year to $67 billion, and the company posted earnings per share (EPS) of $1.66, beating analysts' estimates.... Evernorth helped to boost Cigna's overall revenues to $40.8 billion ... Revenues for the Evernorth segment were $29.83 billion, a 20% increase year over year." Icon to read more

AISHealth

HIPAA Resolution Agreements Address Web Services, Window Envelopes, and Access Termination

"These resolution agreements address fundamental and common privacy and security issues and provide a reminder that not all breaches are the result of sophisticated cyberattacks. Prosaic failures can also expose PHI to unauthorized disclosures, underscoring the importance of adopting clear policies and procedures, followed by workforce training and consistent implementation." Icon to read more

Thomson Reuters / EBIA

To Spend or to Save: Ways to Use an HSA

"44% of HSA owners spend all or most of their HSA funds every year on health care expenses. Of those spenders, half spend beyond their contribution amount each year.... [O]nly 22% of HSA owners save or invest their money to let it grow into a nest egg for health care costs in retirement, paying for medical expenses out of pocket." Icon to read more

Connect Your Care

Benefits in General

[Official Guidance]

Text of IRS Final Regs: Unrelated Business Taxable Income Separately Computed for Each Trade or Business (PDF)

135 pages. "This document contains final regulations that provide guidance on how an exempt organization subject to the unrelated business income tax determines if it has more than one unrelated trade or business, and, if so, how the exempt organization calculates unrelated business taxable income. The final regulations also clarify that the definition of 'unrelated trade or business' applies to individual retirement accounts. Additionally, the final regulations provide that inclusions of 'subpart F income' and 'global intangible low-taxed income' are treated in the same manner as dividends for purposes of determining unrelated business taxable income.... The final regulations are effective on [the date published in the Federal Register]." Icon to read more

Internal Revenue Service [IRS]

Persuasive Perks: A Simple Chart to Help Your Business Prioritize Employee Benefits

"The winning combination is probably a mix of established ideas (such as the bedrock of company health insurance) and new ones shaped by the pandemic (more flexible schedules). This simple chart organizes benefits into a hierarchy according to cost to the employer -- as well as tiers within each price level to show which benefits tend to be more foundational. This may help you set or adjust your priorities for 2021." Icon to read more

Principal Financial Group

Press Releases

OneDigital Acquires Refined Benefits (Sullivan)
OneDigital Health and Benefits

Most Popular Items in the Previous Issue

View COVID-19 News and Resources

BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
(407) 644-4146

Lois Baker, J.D., President  loisbaker@benefitslink.com
David Rhett Baker, J.D., Editor and Publisher  davebaker@benefitslink.com
Holly Horton, Business Manager  hollyhorton@benefitslink.com

Article submission: Online form, or email to news.editor@benefitslink.com

BenefitsLink Health & Welfare Plans Newsletter, ISSN no. 1536-9595. Copyright 2020 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.

Links to web sites other than BenefitsLink.com and EmployeeBenefitsJobs.com are offered as a service to our readers; we were not involved in their production and are not responsible for their content.

Unsubscribe  |   Change Email Address  |   Privacy Policy