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Medical Loss Ratio Rebates under the Affordable Care Act

Over the next month, health insurance carriers will distribute approximately $1B in medical loss ratio (MLR) rebates from 2021 to individual and group health insurance consumers.  The following provides an overview of a employer plan sponsor’s obligation for handling these MLR rebates. The MLR is the percentage of premium dollars received by a health insurance… Read More

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2023 Health Savings Account (HSA) and High-Deductible Health Plan (HDHP) Limits Announced

The Internal Revenue Service (IRS) has announced the inflation-adjusted 2023 minimum deductibles, out-of-pocket maximums, and contribution limits for heath savings accounts (HSAs) and qualified high-deductible health plans (HDHPs). Self-only coverage refers to plans for one individual, while family coverage refers to plans for two or more individuals. The out-of-pocket maximum includes copayments, deductibles, and coinsurance… Read More

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Important July 1 Transparency Deadline for Insurers and Group Health Plan Sponsors

A federal health insurance coverage price transparency rule takes effect on July 1, 2022, for all health insurance policies renewed between January 1, 2022, and July 1, 2022. For all other plans, the requirement will take effect upon renewal in 2022. The new rule applies to health insurance carriers and employers that offer group coverage… Read More

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Princeton HR Provides Employer Groups with Customized Online Benefits and HR Management Platform

As your broker, we’re always looking for ways to save you time, improve communication, streamline your benefits and HR practices, and increase employee engagement. This is why in 2021, we transitioned our employer group clients onto our new online technology platform with Ease! With Ease, we can help with all of the above, and more! Does… Read More

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2022 Medicare Part B Standard Premium, Deductible, and IRMAAs for Parts B and D

The Centers for Medicare and Medicaid (CMS) have announced the below for 2022: The standard Part B Premium is increasing by $21.60/month to $170.10 in 2022 (up from $148.50 in 2021) The Income Related Monthly Adjustment Amounts (IRMAAs) for Parts B and D are increasing as shown below, for those with incomes greater than $91k individual or $182k… Read More

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THE “NO SURPRISES ACT”

Federal legislation to protect healthcare consumers against surprise “balance bills” will take effect for plan years beginning on or after January 1, 2022.  Called the “No Surprises Act,” the new law protects insured individuals from excessive medical bills if they go to an out-of-network emergency facility or are treated by an out-of-network provider practicing at… Read More

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ThinkHR to become Mineral

ThinkHR, our trusted partner for delivering HR and compliance solutions to our group clients for over 5 years, is relaunching under a new name: Mineral.  Here are a few things you need to know: Everything about your ThinkHR platform and services will remain exactly the same – same name, features, services and login.  You’ll continue… Read More

Join us and our HR vendor partner Mineral on Dec 12th for a walk through of their incredible platform for HR Compliance, templates, and premium features such as access to their 200+ "Learn" Training Courses and "Live HR" team of experts: https://t.co/s0mGLpCMi7 https://t.co/sFwUWjVvHB princetonhrs photo
In case you missed it, here is the latest Healthy You monthly newsletter from AmeriHealth NJ, and it includes a great holiday recipe among other useful tips for this time of year: https://t.co/WiWHoWIKom https://t.co/LtSRWJiqq1 princetonhrs photo
NJ Temp Disability Updates for 2023: Max Weekly Benefit: 85% of avg earnings up to a max of $1,025 per week, if worked 20 weeks earning at least $260 weekly or $13,000 total. No no Temp Disability worker contributions deducted for the 2023 calendar year: https://t.co/5BMw3y8gJD https://t.co/v87STELkuG princetonhrs photo
PAAD and Senior Gold are NJ state-funded programs that help income-eligible seniors + individuals w/disabilities save $ on Rxs. PADD covers the Part D premium, and Rxs cost $5 generic, $7 brand formulary under the program for those who apply and qualify: https://t.co/6vGlL0wmqY https://t.co/eLsdfyWzbc princetonhrs photo
Important reminder from Delta Dental of NJ: Don't even THINK about using these 5 items for flossing!

https://t.co/2WEqXYRT8P https://t.co/425zcG54iG
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The Employee Retirement + Income Security Act (ERISA) requires employers to send a variety of notices to participating employees/dependents. Register here to learn what types of plans require disclosure notices, the frequency, + e-delivery requirements:
https://t.co/vpcy8agQEc