For employers operating their group health and welfare plans beginning on or after Jan. 1, 2021, now is the time of the year to prepare for open enrollment. Typically, the focus is on evaluating the services and performance of vendors, renewing rates, and considering design changes. In addition to these items, employers need to address various legal requirements. This Benefits Brief provides a checklist that covers these requirements for the 2021 plan year.
Group health plan sponsors must provide the annual Medicare Part D creditable coverage disclosure notices to Medicare-eligible individuals before Oct. 15, 2020 — the start date of the annual enrollment period for Medicare Part D. This Benefits Brief summarizes the requirements.
On Aug. 28, 2020, the Internal Revenue Service (IRS) issued Notice 2020-65 (the Notice) to provide guidance for affected employers. Employer participation in these deferrals is permitted, but not required.
The ACA's medical loss ratio (MLR) rules require health insurance issuers to spend 80 to 85 percent of their premium dollars on medical care and health care quality improvement activities. Issuers that do not meet the applicable MLR (medical loss ratio) standard must pay rebates to consumers. The next round of rebates is due by Sept. 30, 2020. This Benefits Brief provides a summary of the MLR rules and explains how employers should treat any rebates received for group health plans.
The U.S. District Court for the Southern District of New York has struck down portions of regulations issued under the leave provisions of the Families First Coronavirus Response Act. This Legal Update summarizes the court ruling.
This month's Benefits Buzz reviews recent challenges to the ACA and discusses employer flexibility in regards to contraceptive coverage.