If you are a large employer required to provide health plan coverage to avoid the shared responsibility penalties, it is prudent to reevaluate your contribution structure each year before open enrollment to ensure that your plan is still “affordable.” Most employers were diligent about calculating affordability in the first few years ...
You likely heard about the Anthem breach back in 2015. Given that 79 million individuals were impacted, it is likely that you or someone in your family was impacted by the breach. Well it took HHS several years, but they just announced the settlement with Anthem this week. Anthem has agreed to pay HHS $16 million and take substantial corrective ...
The deadline for providing the annual Medicare Part D Creditable Coverage Notice (the “Notice”) is quickly approaching. This Notice is provided to inform participants whether or not your plan’s prescription drug coverage is creditable. A group health plan’s prescription drug coverage is considered “creditable” if the coverage ...
Let’s revisit our previous blog post and our example of Karl one more time to show another wrinkle that you should be aware of when making a contribution for a partial year missed deferral failure. In some circumstances, an employer make up contribution will be limited due to the elective deferral limit in §402(g) of the Internal Revenue Code.