Most full-time employees eat at least one or two meals at work each workday. Not only are a significant number of meals eaten in the workplace, but work is also where employees are most susceptible to distracted or stress-related eating. As an employer, you can help your employees make healthy meal and snack choices. Good…
Initiatives for Stress Management Stress is a leading contributor to many health problems, and the workplace can often be a major source of stress. Lowering stress can lower the risk of medical conditions and can help employees feel better on a day-to-day basis. You can implement various activities to help reduce employee stress, which can…
For the majority of future retirees, medical expenses pose significant risk to any retirement plan, and they are only projected to rise. Medical cost estimates for couples throughout their full retirement, assuming both partners are 65, has increased $15,000 from 2016 to 2017, bringing total projections to $275,000, after Medicare coverage. Even for professionals with…
Privacy and Security Rule Violations Impacted by Rule On Jan. 17, 2020, the Department of Health and Human Services (HHS) published a final rule increasing the civil monetary penalties for violations of the HIPAA Privacy and Security Rules. HHS is required to adjust these penalties for inflation each year. Effective Jan. 17, 2020, the following…
The U.S. Department of Labor (DOL) has increased the penalties employers face under ERISA for group health plan reporting and disclosure failures. These new amounts apply to penalties assessed after Jan. 15, 2020, and include the following: Summary of Benefits and Coverage (SBC): Failure to provide group health plan participants and beneficiaries with an SBC…
The SECURE Act President Trump has signed a year-end spending package that will fund the federal government through September 30, 2020. The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 is included in that spending package. The SECURE Act contains significant changes to retirement plan regulations. It also contains some significant changes…
All group health plans that provide prescription drug coverage to Medicare Part D eligible individuals (whether actively working, retired, or disabled) are required to notify CMS whether or not the coverage provided is creditable. This disclosure is required whether the coverage is primary or secondary to Medicare. Employers must file their Disclosure Notice through the…
With a new year upon us, your attention is likely focused on setting financial and productivity goals for your business. As you plan, make sure to look at one area you may have overlooked: employee retention. Employee retention has a huge impact on your bottom line, and now is a great time to make some…
Recently, the Departments of Labor (DOL) and Health and Human Services (HHS) issued an updated template and related materials for the summary of benefits and coverage (SBC). These materials are required to be used for plan years beginning on or after Jan. 1, 2021. This means that the updated template must be used for the…
Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans. Listed below are upcoming important compliance deadlines for employer-sponsored group health plans, organized chronologically. For these requirements, the information provided herein shows the deadlines that apply to calendar year plans. For non-calendar year plans, these deadlines…
