Category: General

For the first time in a decade, the Centers for Medicare and Medicaid (CMS) announced that premiums for Medicare Part B beneficiaries and the Part B deductible will both be lower than the previous year. Each year the Medicare Part B premium, deductible and coinsurance rates are determined according to the Social Security Act. The… Read More

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

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

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

On January 10, 2022, the US Departments of Labor (US DOL) and Health and Human Services (HHS), and the Treasury issued FAQ guidance regarding the requirements for group health plans and health insurance issuers to cover over-the-counter (OTC) COVID-19 diagnostic tests. As of Jan. 15, 2022, the cost of these tests must be covered, even if they… Read More

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

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

You can’t drive down the highway or watch a program on TV without seeing advertisements about how great Medicare Advantage plans—some for $0 premium per month, with dental!—are, and with celebrities like Joe Namath promoting them, certainly they must be good, right? Well, our answer is no, and these articles from Forbes and Newsweek seem… Read More

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

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