VCG’s VANTAGE
A view into the latest Benefits and HR topics
28Aug 2018

Medicare Part D Notices – Creditable (or Non-Creditable) Coverage

Authors: |Benefits, Communications, Compliance, In The Know|0 Comments

Plan sponsors of group health plans providing prescription drug coverage to individuals who are eligible for Medicare Part D prescription drug coverage are required to satisfy certain notice requirements. Background Individuals must enroll in Medicare Part D prescription drug coverage when first eligible (generally, at age 65).  If they do not do so, they are subject to a permanently higher [...]

23Aug 2018

When Can SPDs and Participant Notices be Distributed Electronically?

Authors: |Administration, Benefits, Communications, Compliance, In The Know, Technology|0 Comments

Summary Plan Description (SPD) is a document that employers are required to give to employees in retirement plans or health benefit plans covered by ERISA.  The SPD is simply a summary of the plan document required to be written in such a way that the participants of the benefits plan can easily understand it. Employers must distribute SPDs and other [...]

22Aug 2018

U.S. News Best Hospitals Rankings 2018-2019

Authors: |Administration, Benefits, Decision Making, In The Know, Technology, Workplace Wellness|0 Comments

On August 14th, U.S. News and World Report released their annual top hospitals rankings. The top five nationally were: Mayo Clinic, Rochester, MN Cleveland Clinic Johns Hopkins Hospital, Baltimore Massachusetts General Hospital, Boston University of Michigan Hospitals-Michigan Medicine Ann Arbor They also reported regional rankings for 200 metropolitan areas and the top five hospitals in selected specialties such as Cardiology and [...]

30Jul 2018

2017 PCORI Fee Due July 31st

Authors: |Benefits, Communications, Compliance, In The Know|0 Comments

The Affordable Care Act requires health insurers and employers that sponsor self-funded group health plans (including health reimbursement arrangements) to pay a Patient-Centered Outcomes Research Institute (PCORI) fee for each year from 2012 to 2019. The PCORI fee for plan years ending in 2017 is due by July 31, 2018. If the plan is fully insured, the insurance carrier pays [...]

21Jun 2018

DOL Finalizes Association Health Plan Rules

Authors: |Benefits, In The Know|0 Comments

June 19, 2018, the U.S. Department of Labor (DOL) released its long-awaited final rule on Association Health Plans (AHPs).  The final rule attempts to create more opportunities for small employers and certain self-employed individuals to access affordable health coverage through AHPs. AHPs are not a new concept.  However, under prior guidance, it has historically been difficult for an association or [...]