Plan Administrator BlueStar Retirement Services, INC. Telecommute / Jacksonville FL
	Director of Retirement Plan Services Retirement Plan Resources [RPR] Louisville KY
	Transactions Specialist BlueStar Retirement Services, INC. Telecommute / Jacksonville FL
	Plan Operations Specialist BlueStar Retirement Services, INC. Telecommute / Jacksonville FL

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Out-of-Network ERISA Claims: Identifying Provisions Subject to Provider Challenge
January 27, 2021 WEBCAST
Strafford

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[Guidance Overview]

Child and Dependent Care Tax Benefits: How They Work and Who Receives Them (PDF)

27 pages. "[T]axpayers can exclude from their income up to $5,000 of employer-sponsored child and dependent care benefits. Many taxpayers receive the exclusion in the form of a dependent care flexible spending arrangement (FSA).... [F]or every dollar of employer-sponsored child and dependent care excluded from income, the taxpayer must reduce the maximum amount of qualifying expenses claimed for the CDCTC.... [A]bout 43% of employees have access to a child and dependent care flexible spending account, while 11% have access to other types of employer-sponsored childcare." [R44993, Dec. 7, 2020] 

Congressional Research Service [CRS]

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[Guidance Overview]

Upcoming Key Compliance Deadlines and Reminders for First Quarter 2021

"[Items are separated] into three categories: federal deadlines, state and local deadlines, and pandemic-related reminders.... [T]hese deadlines may or may not be applicable to your group depending on the employer and plan characteristics." 

Lockton

Radical New Transparency Rules Likely to Apply to Your Health Plan Starting in 2022

"[1] For plan years beginning on or after January 1, 2022, non-grandfathered group health plans will be required to make available to the public ... detailed pricing information (standardized format and updated monthly) ... [2] For plan years beginning on or after January 1, 2023, non-grandfathered group health plans must make available ... personalized out-of-pocket cost information, and the underlying negotiated rates, for 500 identified covered health care items and services ... [3] For plan years beginning on or after January 1, 2024, non-grandfathered group health plans must make available ... personalized out-of-pocket cost information, and the underlying negotiated rates, for all covered health care items and services." 

McAfee & Taft

Crucial Differences in How Working Families Think About and Use HSAs

"58 percent of survey respondents [say] they usually compare prices before selecting a healthcare provider.... 65 percent of respondents who participate in an HSA saying they do so compared to just 55 percent of respondents who don't participate.  ... Among HSA participants with children, 71 percent say they compare prices before selecting providers; only 60 percent of HSA participants without children do." 

HealthEquity

Massachusetts Health Insurance Responsibility Disclosure Form Due December 15

"Any Massachusetts employer with six [6] or more employees in any month during the past twelve [12] months preceding the form's due date must complete and submit annually the HIRD form. An individual is considered to be an employee if the employer included the individual in their quarterly wage report to the Department of Unemployment Assistance (DUA) during the past twelve [12] months." 

OneDigital Health and Benefits

With Slow Health Benefit Cost Growth in 2020, Employers Plan to Invest in More Support for Employees

"Large employers (those with 500 or more employees) reported a cost increase of just 1.9%, their lowest increase since 1997, as plan members avoided health care facilities due to the pandemic. Large employers typically self-fund their plans, which means they may see costs fall as utilization falls ... Survey results suggest that many large employers plan to use money saved in 2020 to invest in programs to support and engage employees in 2021." 

Mercer

Poor Health Costs Employers $575 Billion and 1.5 Billion Days of Lost Productivity

"For every dollar of the almost $950 billion spent on health care benefits, another $0.61 of productivity is lost to illness and injury. Employees covered for sick time, workers' compensation, disability, and family and medical leave benefits are absent about 978 million days due to illness and incur an estimated 540 million lost work days due to presenteeism (underperformance on the job by employees with chronic health conditions). This totals almost 1.5 billion days annually of illness-related absence." 

Integrated Benefits Institute

[Guidance Overview]

'Party in Interest' Under ERISA vs. 'Related Party' Under GAAP

"ERISA's definition of a party in interest is broader than a related party as that term is defined by GAAP. Parties in interest include all entities and individuals that provide services to the plan; however, these entities may not necessarily be related parties. Party in interest transactions are prohibited under ERISA Section 406(a) unless specifically exempted from the prohibited transaction rules. Material transactions with Related Parties must be disclosed. Transactions with Parties in Interest must be disclosed unless they are listed as a Statutory or Administrative Exemption." 

Belfint Lyons Shuman

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COBRA Coverage After Converting from H1B Visa to B2 Visa

"I am in United States on H1B (work visa) and my employer provides health insurance to me through UnitedHealth Care. My wife is pregnant; the baby is due in May. I'm worried about what happens to my health insurance if I lose my job and need to change my visa from H1B (work visa) to B2 (visitor visa). Can I, and should I, opt for COBRA insurance (on a visitor visa)?" 

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Most Popular Items in the Previous Issue

Employer Health Plans Must Pay the Cost of a COVID-19 Vaccine
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Pitfalls for HSA-Eligible Employees with at Least One Other Family Member Covered Under the HDHP
ABD Insurance & Financial Services

Proactive Employer Measures for Avoiding Coronavirus-Related Benefits Litigation
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