Question: If an employee has a small health flexible spending account (FSA) balance with a carryover to the next year, and the employee chooses not to participate in the new FSA year, can the employer force the employee to use those funds so as not to incur additional administrative fees in the next plan year? Answer: … Continued
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 … Continued
Overview According to the Internal Revenue Service (IRS), no permission or authorization to set up either an FSA or HSA account is required. Both accounts are intended to help provide you with financial assistance regarding medical care costs. An FSA (flexible spending account) is set up by your employer. An HSA (health savings account) is … Continued
What better way to kick off our holiday-season stress than with talk of deductibles, coinsurance and high premiums? Welcome to open enrollment, where employees can re-evaluate their health care options each November. It’s a prime opportunity to secure better benefits and maximize savings; yet open enrollment is often underutilized. “Although it can be one of … Continued
The U.S. Presidential race win by Donald Trump will impact labor, employment, and HR professionals in the key issues of immigration, paid leave, tax reform, and health care. Significant Shift in Immigration Policy Trump has been vocal about his stance on immigration in regard to deportation and illegal immigration. He also seeks to strengthen U.S. … Continued
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 … Continued
Most employers should be reviewing payroll budgets and job descriptions to ensure that changes to salaries and job classifications are all in order by the December 1 deadline based on the new overtime exempt salary threshold and other final rule changes to the Fair Labor Standards Act (FLSA). Another area that will be impacted by … Continued
Are you an employer that offers or provides group health coverage to your workers? Does your health plan cover outpatient prescription drugs — either as a medical claim or through a card system? If so, be sure to distribute your plan’s Medicare Part D notice before October 15. Purpose Medicare began offering “Part D” plans … Continued
Mandated Health Benefits – Oral Chemotherapy Medication On July 8, 2016, Pennsylvania Governor Tom Wolfe signed legislation (H.B. 60) regarding health insurance coverage for oral chemotherapy medications. Pursuant to the bill, whenever a health insurance policy provides coverage that includes coverage for intravenously administered or injected chemotherapy medications which have been approved by the U.S. … Continued
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 … Continued
Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA www.finra.org / SIPC www.sipc.org, to residents of: DC, FL, MD, NJ, NY, OH, PA, SC, TX, CA, CO, GA, and OK. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Webber Advisors and the Leavitt Group are not affiliated with Cambridge. Fixed insurance and benefit services are not offered through Cambridge.
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