by Bret Brummitt | Sep 7, 2022 | 30 for 30, Data Analytics, Health Insurance, Plan Design, Plan Design
Should you Explore a Self-Insured or Level-Funded option instead of Fully-Insured? The simple answer is yes. You owe it to yourself and your company to make sure that you explore all options. What you may find surprising is that this may actually be a really...
by Bret Brummitt | Sep 6, 2022 | 30 for 30, Data Analytics, Employee Benefits, Plan Design
For more Day 27: Benchmark your Health Plan, know your numbers What did you notice about your plan this year? Is everything anecdotal, or is it factual? Is your plan a tool to recruitment or a band-aid of acceptability? Who chooses your plan and who goes...
by Bret Brummitt | Sep 5, 2022 | 30 for 30, Compliance, Employee Benefits, Health Insurance, Plan Design
Tip # 28: Add in a high-impact plan with low admin cost….think FSA or HRA Employee Benefits are supposed to deliver value that an employee couldn’t easily re-create on their own. If you think in terms of only “products” that you can...
by Bret Brummitt | Sep 2, 2022 | 30 for 30, Employee Benefits
Tip # 29: Plan to Communicate Communicating to your employees isn’t easy. Communicating your goals to your Broker isn’t easy. Communicating the decisions you make to your Board of Directors or to your colleagues is not easy. Have a plan to...
by Bret Brummitt | Sep 1, 2022 | 30 for 30, Data Analytics, Employee Benefits, Health Insurance
Tip # 30: Create a Timeline & Focus on Your Major Milestones for Renewal This may seem way too simple, but honestly this is just overlooked. You need a road-map, a timeline, your identified “Major Milestones for Renewal.” Your preparation for...
by Bret Brummitt | Aug 30, 2022 | 30 for 30, Employee Benefits, Health Insurance, Plan Design
The month of September offers you 30 days to stay proactive & prepare for your 2023 Health Plan Renewal. In the past, we’ve shared 30 tips to help our employer audience get prepared and have a fantastic Renewal and Open Enrollment for the upcoming...
by Bret Brummitt | Aug 29, 2022 | Compliance, Dept of Labor, Employee Benefits, ERISA, Health Insurance, Plan Design
The FICA Reduction & Wellness Plan Scams are back again 1st a word from our Lawyers: Beware of FICA-Reduction Arrangements using Wellness Programs It has come to our attention that certain arrangements are being marketed to employers that are intended to...
by Stacy Barrow | Aug 25, 2022 | ACA, Compliance, Dept of Labor, Employee Benefits, Health Insurance, Plan Design
Compliance Alert: IRS Issues Affordability Percentage Adjustment for 2023 The Internal Revenue Service (IRS) has released Rev. Proc. 2022-34, which contains the inflation-adjusted amounts for 2023 used to determine whether employer-sponsored coverage is “affordable”...
by Stacy Barrow | Jul 5, 2022 | ACA Reporting, Compliance, ERISA, Health Insurance
REMINDER: PCORI Fees Due By July 31, 2022 Employers that sponsor self-insured group health plans, including health reimbursement arrangements (HRAs) should keep in mind the upcoming July 31, 2022 deadline for paying fees that fund the Patient-Centered Outcomes...
by Bret Brummitt | May 6, 2022 | ACA, Compliance, HSA, Uncategorized
The info you’ve been waiting for, your 2023 HSA Contribution Limits and HDHP Deductible and Out-of-Pocket Limits In Rev. Proc. 2022-24, the IRS released the inflation adjusted amounts for 2023 relevant to Health Savings Accounts (HSAs) and high deductible health...
