Princeton HR Solutions

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

Important PCORI Deadline Information: Fees Due July 31, 2021 What is the PCORI Fee?  The Affordable Care Act (ACA) created the Patient-Centered Outcomes Research Institute (PCORI) to study clinical effectiveness and health outcomes. To finance the nonprofit institute’s work, a small annual fee is charged on health plans. Who pays PCORI Fees? Employers that self-insure… Read More

The Affiliated Physicians and Employers Master Trust (APEMT) dba Members Health Plan NJ (MHPNJ) filed Chapter 11 Bankruptcy on 5/24/2021 to provide the protections necessary to move forward with a continued rehabilitation or a wind down plan. The APEMT is working hard to preserve their presence in NJ and continues to seek outside funding and… Read More