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Medical Loss Ratio Rebates
Medical Loss Ratio (MLR) rebate checks are currently arriving for many companies. MLR rebates are required under the Affordable Care Act (ACA) and are furnished when a health insurer does not utilize enough of the premiums they have received directly towards the cost of medical claims and activities that improve the quality of care. There End excerpt
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Health Care Costs and Concerns on the Rise
Kaiser Family Foundation (KFF) recently shared data from a poll they conducted with the public to assess their experiences with health care costs. Highlights include: Approximately 50% of U.S. adults encounter issues paying for health care. Often, patients are unable to fill prescriptions due to the costs. Adults who are uninsured, Black or Hispanic, or End excerpt
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Engagement Deep Dive
Pharmacy spend remains a top priority for many employers. Pharmacy also known as Rx, is typically one of the highest cost drivers in employer-sponsored health plans. It has become increasingly important for CFO’s and Benefit Administrators to understand their Rx spend and how they can better manage and engage employees around what is frequently a End excerpt
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Why Employee Education & Engagement on Healthcare Is Important
Lack of employee engagement and education can lead to uncontrollable costs in health plans and unsustainable increases that get passed on to employees through premium increases. This brief will exam the long-term impact that education and engagement can of on employer’s bottom line. According to Mike Wolf, associate vice chair for research in the department End excerpt
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Navigating the Employer Vaccine Mandate’s
Currently there are two mandates requiring private employers to ensure that their employees are vaccinated for COVID-19. Under President Biden’s Executive Order 14042, Federal Contractors and Subcontractors are required to have their employees receive a COVID-19 vaccination unless they are eligible for a legal exemption (medical disability or religious exemption). Under the U.S. Department of End excerpt
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Federal Contractors and Companies Requiring Vaccinations
Federal Contractors and Companies Requiring Vaccinations Recently, the Biden administration announced new measures to encourage vaccinations among Americans. Focusing primarily on increasing vaccinations at the federal level, President Biden stated that all federal government employees and on-site federal contractors are required to attest to their vaccination status. This order only applies to onsite contractors. At End excerpt
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“No Surprise Act” focused on eliminating Balanced Billing
“No Surprise Act” focused on eliminating Balanced Billing An Interim Final Rule was recently issued by the Department of Health and Human Services, the Department of Labor, the Department of the Treasury, and the Office of Management and Budget implementing key provisions of the No Surprise Act, which was passed late last year to stop End excerpt
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Temporary Modifications to I-9 Process
Physical document inspection not required for remote workers during the pandemic The Department of Homeland Security (DHS) announced it will defer the requirements for employers to physically review I-9 documents in-person with new employees. This change applies only to employers and workplaces that are operating completely remotely. If there are any employees physically at the End excerpt
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Coronavirus-related paid leave for workers and tax credits for small and midsize businesses
Source: IRS.com New legislation ensures workers are not forced to choose between paychecks and their health amidst the global pandemic. The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately End excerpt
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Reporting Requirement Under D.C. Individual Mandate
OTR NOTICE Under new tax guidance (Notice 2019-04), D.C. residents must have minimal essential health care coverage (MEC), have a coverage exemption, or pay a tax penalty for tax years ending on or after December 31, 2019. Insurance companies, business providing insurance to their employees, and other applicable entities are required to file information returns End excerpt
