"No. HRAs may only reimburse medical care expenses as defined in Code Section 213(d). A cash payment after an employee's death or at any other time would disqualify your company's HRA for all participants and make all reimbursements paid from the HRA taxable -- even reimbursements for qualifying medical expenses."  MORE >>

"While the simplicity of ICHRAs can make them a great fit for many employers, ICHRA vendors face a complex and often unclear regulatory environment, especially given that most of the traditional group health plan laws do not perfectly apply to the ICHRA structure. For some of these laws, the legal obligation to comply might technically fall on the employer (as the plan sponsor), but ICHRA service providers often try to comply, so their product is an off-the-shelf 'solution' for their employer clients."  MORE >>

"[T]he DOL settlement affirms that employers may be liable for claims if they collected [group life insurance] premiums without first confirming that Unum approved the employee's or dependent's EOI. This is consistent with federal courts across the country that have found employers liable for breach of fiduciary duty under ERISA when collecting premiums on life insurance coverage that is not in force."  MORE >>

"HR professionals must prioritize various areas to adhere to best practices for protecting employee data effectively. This includes being vigilant about compliance risks, as transferring healthcare data overseas ... could result in substantial fines and damage to reputation. Moreover, storing healthcare data on servers outside the U.S. might increase security risks, potentially exposing sensitive employee information."  MORE >>

"A group captive allows a group of unrelated employers to form a collective insurance company to manage some portions of their risks.... Captive funding is attractive to these group because it offers transparency.... Level-funded plans are sometimes described as a hybrid between a fully insured health plan and a fully self-funded health plan ... [and] are usually marketed to employers with 2 to 50 employees.... The challenge with level funding ... [is] that level-funded plans are at bottom self-funded plans."  MORE >>

"CBO published updated baseline projections of federal subsidies for health insurance coverage.... [N]et federal subsidies in 2024 for insured people are $2.0 trillion. In 2034, that annual amount is projected to reach $3.5 trillion (or 8.5 percent of gross domestic product). Over the 2025-2034 period, subsidies are projected to total $27.5 trillion -- with Medicare accounting for 46 percent; ... [and] employment-based coverage, 21 percent[.]"  MORE >>

"By the CBO's estimates, the all-time low uninsurance rate of 7.2 percent in 2023 will rise to 8.9 percent in 2034. The largest increase in those who are uninsured will be among adults ages 19-44."  MORE >>

"Brokers must understand Medicare's components -- Part A (Hospital Insurance), Part B (Medical Insurance), Part C (Medicare Advantage), and Part D (Prescription Drug Coverage) -- to make informed decisions. Each part offers unique benefits, and the ability to navigate these can set brokers apart as knowledgeable advisors. One major benefit of offering Medicare is that it provides a cost-effective solution for employers, especially those in small to mid-sized businesses, to manage healthcare costs while still providing benefits to their employees."  MORE >>

"Ozempic- and Wegovy-themed phishing scams are up 183% in 2024 compared to last year. These scams spanned nearly 450 high-risk websites and more than 176,000 phishing attempts over a four-month period, in addition to postings on social media and online marketplaces.... [T]he scams are nothing new in structure or design and are built to install malware and steal personally identifiable information (PII) or funds."  MORE >>