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Is Your Clients’ Generosity Hurting Their Benefit Plan?

  • On August 26, 2024
Employer-sponsored group benefit plans are generally designed to cover only employees who actively work a minimum number of hours. When employees take short-term leave for vacations, holidays, or sick days during the normal course of business, their benefits continue uninterrupted. Generosity begins to hurt employer benefit plans when they are improperly administered during leaves of […]
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MMO: 8/20/24 Broker Update

  • On August 20, 2024
Three Things for Paramount Members to Remember About Their Health Plans, Reminder: Bonus Opportunity for 364-Day Short-Term Policies Written Before Aug. 31
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Don’t Forget Summary Annual Reports

  • On August 19, 2024
If a group health plan covers 100 or more participants on the first day of the plan year, then the plan sponsor (usually the employer) must file an annual report with the Department of Labor and the Internal Revenue Service, known as Form 5500. This requirement applies to all group health plans meeting the size threshold, […]
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Anthem: 2025 Medicare Part D Creditability

  • On August 16, 2024
Certain communications are needed to keep your Medicare-eligible employees and retirees up to date about their plans. Medicare Part D drug coverage helps to cover the cost of prescription drugs. To help your individuals with Medicare make an informed decision about their available medication coverage options, you are required to let them know whether their […]
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MMO: 8/6/24 Broker Update

  • On August 6, 2024
MedFlex Expands List of Providers in Central Ohio, Broker Admin Department Now Has a New Name and Email, Medical Mutual Plans to Divest Bravo Wellness Over the Course of 2025
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HSA/HDHP Increased Limits for 2025

  • On August 6, 2024
In Revenue Procedure 2024-25, the IRS announced the inflation-adjusted limits for health savings accounts (HSAs) and qualified high deductible health plans (HDHPs) for 2025. These limits include: These limits vary based on whether an individual’s HDHP coverage is self-only or family (one or more dependents). Effective Dates The HSA contribution limits for HSAs are effective starting […]
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New Fee Lawsuit Excellent Reminder of Fiduciary Duty

  • On August 6, 2024
Last week, employees of Wells Fargo filed a lawsuit against their group health plan, Navarro et al. v. Wells Fargo Company, charging their employer plan sponsor with not upholding its fiduciary duty to plan participants. Similar to a case filed last February, Lewandowski v. Johnson and Johnson et al., the plaintiffs in the new lawsuit charged that […]
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HR Insight: Are You “Future-proofing” Your Workforce?

  • On August 6, 2024
Due to more competitive labor markets, employers need to be more cognizant about how they not only attract and retain talent but also retain the knowledge and experience of that talent and transfer it appropriately. Employees are now looking to and focusing on learning and growing from within, yet many employers are overlooking this opportunity.
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