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Health & Welfare Plans Newsletter

October 14, 2024

3 New Job Opportunities 3 New Job Opportunities

 

[Official Guidance]

Draft of 2024 IRS Publication 969: Health Savings Accounts and Other Tax-Favored Health Plans (PDF)

24 pages, Oct. 11, 2024. "What's New: Health Flexible Spending Arrangement (FSA) contribution and carryover for 2024. Revenue Procedure 2023-34 ... provides that for tax years beginning in 2024, the dollar limitation ... on voluntary employee salary reductions for contributions to health flexible spending arrangements is $3,200. If the cafeteria plan permits the carryover of unused amounts, the maximum carryover amount is $640."  MORE >>

Internal Revenue Service [IRS]

[Guidance Overview]

Exceptional Usefulness and Quality icon How ACA Cost-Sharing Reductions Work

"ACA marketplaces (also called exchanges) provide a way for people to buy affordable health coverage on their own. [This] FAQ explains the cost-sharing reductions that are available to low-income individuals and families via ACA marketplace plans, to help them afford out-of-pocket costs when they get health care."  MORE >>

Center on Budget and Policy Priorities

[Guidance Overview]

Compliance Requirements for Fixed Indemnity Insurance Notices

"The notice must be provided whether the marketing, application, or enrollment materials are distributed in paper or electronic form.... While carriers should include the required notice as an attachment to their policies, that may not satisfy all the places where it must be included.... [E]nrollment materials and online portals often cover multiple types of benefits, not just fixed indemnity insurance. As a result, the notice could cause significant confusion if it appears to apply to more than just the fixed indemnity policy."  MORE >>

HUB International

[Guidance Overview]

2025 ACA Affordability Percentage: Important Information for Employers

"It's imperative that employers understand the new affordability percentage and adjust their health plan offerings and cost-sharing accordingly to help meet regulatory requirements with the ACA and help avoid potential penalties."  MORE >>

Equifax

Third Circuit Clarifies Determination of 'Serious Health Condition' Under FMLA

"[T]he Third Circuit Court of Appeals declined to reinstate a plaintiff's trial court victory for FMLA interference, concluding that when he requested leave for migraine headaches, he did not yet have a serious health condition.... [T]he Third Circuit clarified that the 'operative time for determining whether a particular condition qualifies as a serious health condition is the time that leave is requested or taken.' Conversely, 'a patient does not have a 'serious health condition'… if he waits to see a healthcare provider until after the relevant absences.' " [Rodriquez v. SEPTA, No. 23-3074 (3d Cir. Oct. 11, 2024)]  MORE >>

Pierson Ferdinand LLP

[Sponsor]

2025 Population Health Management Summit for Payers & Providers

February 20-21, 2025; San Diego, CA. Innovative Strategies to Advance Population Health: Achieve the Triple Aim Through Value-Based Care, Improve Patient Centered Care, Enhance Healthcare Data & Technology, and Reduce Overall Healthcare Costs!

Sponsored by World Conference Forum

Reminder: Your Fiduciary Duties as a Plan Administrator of a Group Health Plan Include Reviewing Fee Disclosures

"To mitigate risk, a plan administrator or other responsible plan fiduciary should maintain and document a prudent fiduciary process when evaluating fee disclosures, which includes benchmarking with industry standards."  MORE >>

Haynes and Boone, LLP

Aon Forecasts 10 Percent Average Increase in Medical Plan Costs for 2025 Globally

"This year's report projects Middle East and Africa (MEA) to have the highest trend rate of any region at 15.5 percent. Asia-Pacific (APAC) and North America will experience the highest year-over-year trend rate increases at 11.1 percent and 8.8 percent, respectively."  MORE >>

Aon

Annual Family Premiums for Employer Coverage Rise 7% in 2024

"Family premiums for employer-sponsored health insurance rose 7% this year to reach an average of $25,572 annually ... This marks the second year in a row that premiums are up 7%.... While employers are seeing total premiums for family coverage rise steadily, the amount that workers, on average, pay toward their annual premiums is little changed over the past five years -- up less than $300 since 2019, or a total of 5% over five years."  MORE >>

Health Affairs Forefront

Many Employers Haven't a Clue How Their Drug Benefits Are Managed

"[Companies] with 500 or more employees were asked how much of the rebates negotiated by PBMs returned to the company as savings. About 19% said they received most of the rebates ... While a larger percentage of officials from the largest companies said they got most or some of the rebates, the answers -- and their contrast with the testimony of PBM leaders -- reflect the confusion or ignorance of employers about what their drug benefit managers do[.]"  MORE >>

Greater Milwaukee Today

OPM Sets Up Leave Transfer Program for Feds Impacted by Milton

"Acting OPM Director Rob Shriver announced that, as the agency did in connection with Hurricane Helene, ... OPM will establish an emergency leave transfer program for federal workers in Florida. Such programs allow federal employees to donate unused paid leave so that colleagues who need to take time off to recover from a natural disaster can do so without dipping into their own paid or unpaid leave."  MORE >>

Government Executive

Benefits in General

Managing Retirement Decisions

Society of Actuaries

Employee Benefits Jobs

View job as Client Relationship Manager for Nova 401(k) Associates

Client Relationship Manager

Nova 401(k) Associates

Remote

View job as Client Relationship Manager for Nova 401(k) Associates
View job as ERISA - Director of Compliance for National Benefit Services

ERISA - Director of Compliance

National Benefit Services

Remote

View job as ERISA - Director of Compliance for National Benefit Services
View job as Retirement Plan Administrator for Qualified Pension Services, Inc. (QPS)

Retirement Plan Administrator

Qualified Pension Services, Inc. (QPS)

Remote

View job as Retirement Plan Administrator for Qualified Pension Services, Inc. (QPS)

Selected New Discussions

COBRA for Actively Covered Open Enrollment

"If an active employee has medical coverage but does *not* qualify for coverage when its time for open enrollment, do they qualify for cobra offer? In this case, the business is using the ACA one year lookback measurement to determine eligibility and the variable rate employee dropped to around 20 hr/week so they will not qualify for 2025 coverage. But, they do have coverage currently. Should a COBRA offer be made effective 1/1/25 in this scenario? Or, is it not a qualifying event that they no longer qualify during open enrollment due to dropping under required number of hours?"

BenefitsLink Message Boards

Webcasts and Conferences
(Health & Welfare Plans)

2024 ACA Reporting Roadmap: IRS and State-Specific Mandates

October 30, 2024 WEBINAR

Equifax Workforce Solutions

Last Issue's Most Popular Items

Happy Halloween: RIP to the HIPAA Privacy Rule?

Quarles & Brady LLP

Employers Should Confirm Their ACA Affordability Safe Harbors for 2024

EY

New Wave of ERISA Lawsuits Attack Self-Funded Health Care and Wellness Plans on Tobacco Surcharges

Thompson Coburn LLP

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

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