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Health & Welfare Plans Newsletter

October 24, 2022

3 New Job Opportunities 3 New Job Opportunities

 

[Guidance Overview]

Upcoming Deadline icon Deadline Approaching for Prescription Drug Cost Reporting

"CMS released several FAQs that clarify requirements under the CAA for prescription drug reporting, including permitting aggregate filings to help simplify reporting for certain plans utilizing multiple vendors.... [The FAQs are] particularly helpful for plans using multiple reporting vendors."  MORE >>

Sequoia

[Guidance Overview]

IRS Announces 2023 Contribution Limits for Health Care FSAs

"[This chart] summarizes 2023 limits applicable to health and welfare plans that are reflected either in Revenue Procedure 2022-38 or earlier guidance. Also included are the 2023 contribution limits required by employers subject to the San Francisco Health Care Security Ordinance (SFHCSO)."  MORE >>

Burnham Benefits

[Guidance Overview]

Managing Expectations When Administering COBRA Open Enrollment Periods

"[Q]ualified beneficiaries may modify their COBRA coverage during COBRA-defined open enrollment periods. Also, ... qualified beneficiaries have the same rights to change their coverage during open enrollment periods as active employees. They are not limited to the rights they might have had as spouses or children of active employees."  MORE >>

Proskauer, via HR Daily Advisor

[Guidance Overview]

Alert (High Risk Issue) icon Cafeteria Plan COLA May Require Employer Action

"If your plan does not make an automatic change to increase the health FSA adjustment for future plan years, your plan document will need to be amended to permit your employees to put the additional $200 in their health FSAs for 2023. And even if your Plan is automatically increased for cost-of living adjustments, you will need to amend any references to this limit in other documents, such as your SPDs or election forms."  MORE >>

Graydon

No Field of Dreams: Point Solutions Take Work

"A point solution is typically offered by a new, innovative company looking to fill a gap in the healthcare system.... Start off on the right track by making communications resources and support part of the vendor evaluation process. Not only look at what they offer and how it meshes with the way you currently engage plan members, but don't be afraid to make specific requests. Just because something is not on the menu, doesn't mean it's not available."  MORE >>

Chelko Center for Benefits Management

It's Open Enrollment Season. Have You Taken a Good Look at an HSA?

"For high-income investors who are maxing out other tax-sheltered accounts, the high-deductible healthcare plan/HSA combo is close to a no-brainer."  MORE >>

Morningstar

A Closer Look at 2023 Federal Employee Health Benefits Premiums

"[E]mployees and annuitants will, on average, pay 8.7% more in FEHB premiums next year, the largest percentage increase in the last decade.... [The authors describe] the changes in popular plans, discuss which ones saw their premiums increase above and below the average, and provide an update for annuitants on Medicare Part B premiums for 2023."  MORE >>

Government Executive

Benefits in General

[Guidance Overview]

2023 IRS Limits (PDF)

Charts detail 2023 limits for retirement and health & welfare plans.  MORE >>

Kushner & Company

Employee Benefits Jobs

View job as Compliance Consultant IV, Benefits Advocacy & Communications
            for Kaiser Permanente

Compliance Consultant IV, Benefits Advocacy & Communications

Kaiser Permanente

Remote / Pasadena CA / Santa Ana CA / Oakland CA

View job as Senior Actuarial Analyst
            for Newport, an Ascensus Company

Senior Actuarial Analyst

Newport, an Ascensus Company

Remote / Chicago IL

View job as Senior Actuarial Analyst for Newport, an Ascensus Company

View job as Retirement Plan Consultant
            for FuturePlan, by Ascensus

Retirement Plan Consultant

FuturePlan, by Ascensus

Remote

View job as Retirement Plan Consultant for FuturePlan, by Ascensus

Press Releases

401(k) Champion Competition Deadline Extended to Thursday, Nov. 17, 2022

401(k) Champion® Award

ASPPA Welcomes Justin Bonestroo as President

ASPPA [American Society of Pension Professionals & Actuaries]

Webcasts and Conferences
(Health & Welfare Plans)

ERISA Fiduciary Rules for Health and Welfare Plans: Compliance Requirements and Litigation Risks for Plan Sponsors

December 14, 2022 WEBCAST

Strafford

Last Issue's Most Popular Items

Taxation of Tuition Assistance Plans

Boutwell Fay LLP

ACA Affordability and Employee-Only Coverage

HUB International

How to Make Reference-Based Pricing Work for Your Health Plan

aequum

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

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