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

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, […]

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 […]

On August 12, 2024

The IRS has issued a new fact sheet offering expanded guidance on employer-sponsored educational assistance programs, which can be a powerful recruiting and retention tool for business leaders.

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

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 […]

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 […]

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.

On July 29, 2024

As of July 19, 2024, CMS will block certified health insurance brokers from making any changes to an enrollee’s Marketplace account unless the broker is already associated with the consumer’s enrollment. Brokers who perform unauthorized enrollments are already terminated from offering services through the marketplace if caught, but this action should help further reduce the problem caused by fraudulent actors.

On July 17, 2024

SummaCare just announced two exciting September Broker Bonus programs for their MEWA products.

News & Updates

MMO: 8/20/24 Broker Update

Don’t Forget Summary Annual Reports

Anthem: 2025 Medicare Part D Creditability

IRS Releases FAQs on Education Assistance Benefits

MMO: 8/6/24 Broker Update

HSA/HDHP Increased Limits for 2025

New Fee Lawsuit Excellent Reminder of Fiduciary Duty

HR Insight: Are You “Future-proofing” Your Workforce?

New Federal Marketplace Action to Block Unauthorized Enrollments

SummaCare: MEWA Group Broker Bonuses