Princeton HR SolutionsThinkHR, 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
On March 11, 2021, President Biden signed the “American Rescue Plan Act of 2021” into law. The latest COVID-19 relief law will provide direct assistance to many Americans, namely through $1400 in income tax rebates for eligible individuals and an increased child tax credit. The legislation also contains many provisions related to health insurance coverage… Read More
The Blue Cross Blue Shield insurance group has been involved in a class-action lawsuit regarding its anticompetitive policies since 2012. Brought by a class of over 1M plaintiffs, the suit claims the company violated antitrust laws and benefitted by dividing insurance markets to avoid competition among its member companies, and thus boosting prices. A settlement… Read More
New Jersey regulators recently announced a change to their employer reporting policies that will affect businesses in all states and of any size that offer coverage to NJ residents. This policy stems back to 2018 when the state enacted an individual mandate requiring NJ residents to maintain health insurance coverage. This year, to help enforce the mandate,… Read More
The Affordable Care Act (ACA) requires virtually all employers that provide group health insurance coverage to report information about the value of these benefits to employees via their W2. Since the requirement took effect in 2014, the IRS has exempted some businesses. Still, for those that have to report, the deadline of January 31, 2021… Read More
On December 27, 2020, President Trump signed the “Consolidated Appropriations Act of 2020” (CAA) into law. Over the next few weeks, we will share more information about the 5,593-page law, but until then, here are some key takeaways: FSA Relief: Employers can allow employees to carry over unused funds or extend their spending grace period… Read More
Pfizer and Moderna recently announced that their experimental coronavirus vaccines appear to be 95% effective, prompting employers to consider if they can require employees to vaccinate once doses are accessible to the general public. The short answer is yes, companies probably will be able to ask their workforce to vaccinate as a condition of employment,… Read More
The Centers for Medicare and Medicaid (CMS) have announced the Medicare Part B standard premium, Income Related Monthly Adjustment Amounts (IRMAAs) for Parts B and D of Medicare, and the Part B deductible for 2021: The standard Part B Premium is increasing by $3.90/month to $148.50 in 2021 (up from $144.60 in 2020) The IRMAAs for Parts… Read More
