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Compliance Updates

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PROPERTY/CASUALTY MARKET REPORT – Q3 2022

Premiums increased for the 20th consecutive quarter in Q3 2022, with respondents reporting an average premium increase across all account sizes of 8.1%, up from the increase of 7.1% […]
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REMINDER: PCORI FEES

Issue Date: November 2022  In Notice 2022–59, the IRS provided the adjusted PCORI fees for plan years ending in October 2022 through September 2023. Employers who sponsored self-funded medical […]
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Life Insurance – Imputing Income

Originally Published September 2020  Updated October 2022  Life insurance policies (both group term life and supplemental life policies) are commonly offered by employers, but such policies cannot always be […]
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Question of the Month – Timing for Medicare Part D Creditable Coverage Notice

Question: Is the Medicare Part D Creditable Coverage Notice Always Due by October 14? Or can I issue it as part of my mid-year plan renewal instead? Answer: While […]
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Medicare Part D Creditable Coverage Notice & Reporting Requirements

As we approach the Medicare annual open enrollment period, this is a reminder that employers sponsoring group health plans that offer prescription drug coverage must notify eligible individuals about […]
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Question of the Month: What is the Difference between a Plan Year and Policy/Contract Year?

Question: What is the difference between a plan year and a contract/policy year, and does it matter?  Answer:   Often the terms “plan year,” “contract/policy year” are used interchangeably and […]
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Domestic Partner Benefits

While opposite-sex and same-sex marriages are permitted nationwide, today’s workforce presents a wide variety of relationship arrangements for which a domestic partner benefit offering provides more flexibility. In addition, […]
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ACA PAY OR PLAY PENALTIES WILL INCREASE FOR 2023

On Aug. 16, 2022, the IRS updated its frequently asked questions (FAQs) on the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA) to include […]
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PROPERTY/CASUALTY MARKET REPORT – Q2 2022

Premiums increased for the 19th consecutive quarter in Q2 2022, with respondents reporting an average premium increase across all account sizes of 7.1%, compared to 6.6% in Q1. Nevertheless, […]
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Senate Passes the Inflation Reduction Act

The U.S. Senate recently passed the Inflation Reduction Act, which includes provisions aimed at addressing climate change, reducing the high costs of prescription drugs and lowering the deficit by […]
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