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Health & Welfare Plans Newsletter

September 27, 2022

3 New Job Opportunities 3 New Job Opportunities


[Official Guidance]

Text of CMS Announcement: 2023 Medicare Parts A & B Premiums and Deductibles, 2023 Medicare Part D Income-Related Monthly Adjustment Amounts

"The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022. The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from the annual deductible of $233 in 2022.... The decrease in the 2023 Part B premium aligns with the CMS recommendation in a May 2022 report that excess SMI reserves be passed along to people with Medicare Part B coverage."  MORE >>

Centers for Medicare & Medicaid Services [CMS], U.S. Department of Health and Human Services [HHS]

[Guidance Overview]

Upcoming Deadline icon October 14 Deadline: Medicare Part D Notice of Creditable (or Non-Creditable) Coverage

"With respect to group health plans including prescription coverage offered by an employer to any Medicare Part D eligible employees (whether or not retired) or to Medicare Part D Medicare-eligible spouses or dependents, the employer must provide those individuals with a Notice of Creditable or Non-Creditable Coverage to advise them whether the drug plan's total gross value is at least as valuable as the standard Part D coverage (i.e., creditable). Medicare Part D notices must be provided to Medicare-eligible individuals prior to October 15th of each year (i.e., by October 14th)."  MORE >>

Fraser Trebilcock

Employers Face Increasing -- and Conflicting -- Pressures Over Health Plan Coverage of Transgender Treatments for Minors

"Several states have restricted the use of transgender medical services for minor children. At the same time, courts are beginning to apply the reasoning of ... Bostock v. Clayton County, Georgia to disputes over health plan restrictions on transgender care. And the Human Rights Campaign, which compiles the closely watched Corporate Equality Index, has indicated that employers that want a coveted 100 percent score in 2023 will have to cover puberty-blocking medications for minors in their health plans."  MORE >>

Ogletree Deakins

Drugmakers Launch New Medicines at Record-High Prices in 2022

"The median annual price of 13 new drugs the U.S. Food and Drug Administration approved to treat chronic conditions is $257,000, with eight of the newly launched drugs priced at more than $200,000. By comparison, the median annual price for the first 30 drugs marketed through mid-July 2021 was $180,000 ... Since 2008 ... drug launch prices have skyrocketed by more than 8,400%."  MORE >>


Bringing Pharmacy Costs Into the Light: Transparency Is Key to Capping Costs

"Passing through rebates and fees isn't the only benefit of transparent PBMs. A 2019 report ... found pharmacy benefit plan sponsors could also accrue savings 'by reducing the use of high-cost, low-value drugs.' Removing PBM rebates frees them to choose the best value drugs for any given treatment. [The report] estimated that the sponsors it evaluated could save about $63 million annually."  MORE >>

BenefitsPro; free registration required

Telehealth: Here Now, Gone Tomorrow?

"While several bills circulating through Congress would extend telehealth benefits more permanently, the House and Senate have yet to reach a consensus agreement about moving forward. In this Alert, [the authors] review the current telehealth flexibilities in place during the [public health emergency], outline the advocacy and policy considerations presently swirling around this service, and explore the various bills in Congress and the likelihood of their being signed into law."  MORE >>

Akin Gump

Benefits in General

Navigating a New Era of Financial Wellness: 2022 Workplace Benefits Report (PDF)

19 pages. "97% of employers say that they are in some way responsible for their employee's financial wellness ... 46% of employers noticed an increase in resignations over the past year ... Health Savings has become almost as important as retirement to workplace benefits programs ... Employees don't fully understand Social Security & Medicare -- and they need help ... 52% of employees prefer to use a digital app to manage their finances ... Action steps for employers."  MORE >>

Bank of America Merrill Lynch

Employee Benefits Jobs

View job as Plan Document Specialist
            for The Ryding Company

Plan Document Specialist

The Ryding Company

Remote / CA / HI / NC / NY / PA / TX / UT

View job as Plan Document Specialist for The Ryding Company

View job as Quality Control Specialist
            for Pentegra

Quality Control Specialist


West Harrison NY

View job as Quality Control Specialist for Pentegra

View job as Retirement Plan Consultant - Combo Plans
            for Definiti

Retirement Plan Consultant - Combo Plans



View job as Retirement Plan Consultant - Combo Plans for Definiti

Press Releases

Schwab Retirement Plan Services Ranks #1 in J.D. Power U.S. Retirement Plan Digital Satisfaction Study for Second Year in a Row

Charles Schwab Corporation

Webcasts and Conferences
(Health & Welfare Plans)

7 Open Enrollment Solutions for Today’s Challenges

September 27, 2022 WEBCAST

Corporate Synergies

Last Issue's Most Popular Items

Surprise Billing Arbitration Updates: New Lawsuit and New Context on Rate-Setting Approaches

Healthcare Financial Management Association [HFMA]; free registration required

Health Insurance Alone Won't Keep Workers from Quitting, Even During a Pandemic

Pittsburgh Post-Gazette

Who Will Benefit from Prescription Drug Price Regulation Changes?

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BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587.

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