What is this ERISA stuff??

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Some of you may be familiar with ERISA (Employee Retirement Income Security Act), some of you may think it only applies to large groups. It is the “buzz topic” right now in the benefits industry and in the forefront of brokers and employers for several reasons.  One reason it is in the forefront is due to Healthcare Reform and its funding.  The DOL has hired new auditors to begin looking at health plans to be sure that they are compliant ...

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Employer Requirements-Medicare Part D

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Did you know that not only do you have to send out Medicare Part D Notices to your Medicare-eligible employees, but YOU as an Employer must also disclose to CMS (Centers for Medicare & Medicaid Services) whether your prescription drug coverage is creditable? This disclosure much be made to CMS on an annual basis.

This disclosure must be made at the following times:

Within 60 days after the beginning date of the play year for which you are providing the form.
Within ...

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Medicare Part D Reminder

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Reminder- Medicare Part D Notifications Due By October 15th!

Group health plan sponsors that provide prescription drug coverage are required to provide a notice of creditable or non-creditable prescription drug coverage to Medicare Part D eligible individuals who are covered under the entity’s prescription drug plan. Employees will use that information to help them formulate their personal decision to determine whether or not they will enroll in Medicare Part D prescription coverage.

The Centers for Medicare and Medicaid Services (CMS) provides model ...

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Summer 2014 Updates

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Draft Instructions for IRS Reporting on Employer Mandates

On 8/28/2014, the IRS released draft instructions for the reporting forms on employer mandates for large employers.

You can find these forms at IRS Draft Forms. These forms are for informational purposes only and the IRS will post final versions on a later date.

The IRS will also be hosting a webinar on September 9th at 2:00. This will show large employers how to report on minimal essential coverage. If you are interested in ...

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Deductibles & Keeping Your Plan

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Deductible Limits Repealed

April 1, 2014: President Obama signed the “Protecting Access to Medicare Act of 2014.” This act focuses on Medicare reimbursement rates for doctors. It delays a 24 percent cut in Medicare Physician payments for one year. In addition to this and what is important to Small Employers (those with

With the lifting of this restriction, Small Employers will have more flexibility to choose health plans with higher deductibles. This law; however, does not affect the Affordable Care Act’s out-of-pocket ...

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