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Tag: health plans
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How to Make the Most Out of Your FSA at Year-End | PA Benefit Advisors
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As 2017 comes to a close, it’s time to act on the money sitting in your Flexible Spending/Savings Account (FSA). Unlike a Health Savings Account or HSA, pre-taxed funds contributed to an FSA are lost at the end of the year if an employee doesn’t use them, and an employer doesn’t adopt a carryover policy.…
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Health Reform Update: What Can Employers and Employees Expect Now? | PA Benefit Advisors
Health Reform Update: What Can Employers and Employees Expect Now? The latest Congressional effort to repeal and replace parts of the Patient Protection and Affordable Care Act (ACA) stalled out again last week when the Senate voted 51-49 to reject a very pared down measure dubbed the “skinny repeal” bill. The breakdown of the…
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CMS Disclosure Requirement for Employer Health Plans | Pennsylvania Employee Benefits
Do you offer health coverage to your employees? Does your group health plan cover outpatient prescription drugs? If so, federal law requires you to complete an online disclosure form every year with information about your plan’s drug coverage. You have 60 days from the start of your health plan year to complete the form. For…
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Officials Provide New ACA Guidance in FAQ #35 | Pennsylvania Employee Benefits
On December 20, 2016, federal officials released FAQs About Affordable Care Act Implementation Part 35 (FAQ #35) in an ongoing series of informal guidance regarding the Affordable Care Act (ACA). This FAQ addresses several topics: Special enrollment rules. Preventive services. Qualified small employer health reimbursement arrangements. A summary of the key points from FAQ #35…
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New Law Allows Small Employers to Pay Premiums for Individual Policies | PA Benefit Advisors
This week, the U.S. Senate passed the 21st Century Cures Act which includes a provision allowing small businesses to offer a new type of health reimbursement arrangement for their employees’ health care expenses, including individual insurance premiums. The act was previously passed by the House and President Obama is expected to sign it shortly. The…
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How Apps are Changing the Way Employees Receive Mental Health Care | PA Employee Benefits
Did you know studies convey that 20% of the population, or 1 in every 5 adults suffer from some sort of mental health condition? Mental health has become a substantially concerning issue in America’s workplace, and therefore a top priority in employee wellness. Mental health conditions such as depression, anxiety, and bipolar disorder cause workers…
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Health Insurance Industry Terms You Need To Know | PA Employee Benefits
With the ever increasing amount of regulations in the Health Insurance industry – the amount of acronyms is rising rapidly. If you don’t follow the latest news religiously, then you could find yourself M.O. (missing out!). Even if you are a seasoned “insurance chooser” – some of the more common terminology could be just as…
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Assistance on Tuition Assistance | PA Benefits Broker
Abridged from www.shrm.org Is tuition assistance on the agenda for your next departmental planning session? If so, here are some recommendations to consider: Make your policy understandable to all. Make sure collateral materials are widely available and understandable to younger employees who aren’t accustomed to insurance claims, expense account reimbursements or financial forms. Tuition assistance…
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How to Keep Your Employees Motivated and Productive | Benefits Specialist PA
By Tom Ceconi www.hr360.com Winter time can lead to less productivity and lower morale If you’ve noticed your employees acting a little less than chipper during the winter, you’re not alone. According to the U.S. National Library of Medicine, lack of sunlight has been linked to feelings of sluggishness and mood changes, so winter’s shorter…
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Difference Between Basic Insurance & Major Medical Insurance | PA Benefits Broker Services
www.livestrong.com By Jenni Wiltz Choosing a health care plan often comes down to cost, but don’t forget to compare the monthly premium with the amount of coverage you get. Major medical insurance is designed to cover you during everything from routine check-ups to major catastrophic events. Basic health insurance, by contrast, is a cash reimbursement…
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