From policy reminders to breaking news on the federal and state level, we keep our clients and partners updated on the topics that matter in healthcare, wellness and employee benefits.
Employers must notify individuals who are eligible to participate in their medical plan whether the plan’s prescription drug coverage is “creditable” or “non-creditable” as compared to Medicare Part D coverage. The notice must be provided to Medicare Part D eligible individuals on…Read More »
Plans that are subject to ERISA and Form 5500 filing, must distribute the Summary Annual Report (SAR) to participants within nine months of the end of the plan year. Thus, a calendar year plan is required to distribute the SAR for the…Read More »
It’s MLR Rebate Time Again!
A requirement under PPACA is that insurers must submit an annual report to HHS accounting for plan costs. If the insurer does not meet the medical loss ratio standards, they must provide rebates to policyholders. Rebates must be distributed to employer plan…Read More »
Plan sponsors must file Form 5500-series returns on the last day of the seventh month after their plan year ends. As a result, calendar-year plans generally must file by July 31. Since that date falls on a Sunday this year, plan sponsors…Read More »