Lyonsinsurance.com

Furloughed Employees and Group Health Insurance …

WebGroup health plan contracts with insurance carriers that underwrite the benefit plan typically also require employees to meet hours of service requirements. “Furlough” is not a term …

Actived: 3 days ago

URL: https://www.lyonsinsurance.com/blog/furloughed-employees-and-group-health-insurance-coverage/

Health Savings Accounts (HSAs) – Common Questions

WebAn HRA and health FSA funds are generally forfeited upon a loss of plan eligibility, whereas the HSA funds will remain with the employee (beyond employment) until the funds are …

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W-2 Health Cost of Coverage Reporting

WebBackground. The Affordable Care Act (ACA) requires employers to report the aggregate cost of “applicable employer-sponsored coverage” on an employee’s Form W-2 for the …

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Overview of Medicare Secondary Payer Requirements

WebGeneral Requirements. The MSP rules prohibit a group health plan from “taking into account” the Medicare entitlement of a current employee or of a current employee’s …

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ERISA Documentation, Disclosures, & Reporting

WebNovember 22, 2019. Most employee benefit arrangements, group health plans and non-group health plans, are employee welfare benefit plans covered by ERISA and required …

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IMPORTANT: Change to New Jersey Employer Requirements …

WebNew Jersey regulators recently announced a change to their employer reporting policies that will affect businesses in all states and of any size that offer coverage to New Jersey …

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IRS Announces 2021 Health FSA & Qualified Transportation Limits

WebThe limit on annual employee contributions toward health FSAs for 2021 is $2,750, with the ability to carryover up to $550. The limit on monthly contributions toward qualified …

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How Employers Should Handle MLR Rebates

WebTotal premiums paid to carrier for a plan with 100 covered employees during 2019 = $1,000,000. Total participant contributions during 2019 = $250,000. Participants paid …

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Compliance Considerations for moving from Fully-Insured to Self …

WebCompliance Considerations for moving from Fully-Insured to Self-Funded. December 12, 2022. Employers may choose self-funded group health plan coverage to obtain more …

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Issue Brief: Medicare Part D Creditable Coverage Notice

WebThe notice is required to be provided to Medicare Part D eligible individuals at the following times: Prior to commencement of the annual enrollment period for Part D (Oct 15); Prior …

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5 Common HIPAA Mistakes to Avoid

WebHere are the top 5 of the most frequent, and frustrating, HIPAA misperceptions seen during 2017: 1. “If I’m using or disclosing protected health information (PHI) for health care …

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A Closer Look: Schedules A & C

WebSchedules A & C are attached to Form 5500 and used to report insurance and service provider information, respectively. In this issue brief, we will briefly discuss the basics of …

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National Emergency and Outbreak Period Ending Sooner

WebMarch 31, 2023. In January of this year, the White House announced that it intended to end the pandemic-related National Emergency and the separate Public Health Emergency …

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Record Retention Requirements & Considerations

WebERISA Record-Retention Rules. ERISA §107 requires plan records to be available for examination for not less than six (6) years after the filing date of the Form 5500 that is …

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Local Business Insurance Broker Lyons Companies

WebAbout Us. Lyons Companies is one of the region’s largest independent and privately held risk management and insurance brokerage firms. We invest in the expertise and …

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2023 Health FSA & Qualified Transportation Limits

WebThe 2023 annual contribution limit of $3,050 for health FSAs applies to employee contributions. The same limit applies for general-purpose and limited-purpose health …

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COBRA – Merger & Acquisition (M&A) Considerations

WebFor employers subject to COBRA continuation rules (employers with 20 or more employees), the IRS has provided detailed regulations regarding the handling of COBRA …

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Issue Brief: PCORI Fee Reminder – Updated Form 720

WebThe IRS released a new Form 720 with updated dates and fees on Line 133 for reporting the PCORI fees. You can find the form, with a revision date of June 2022, here. Employers …

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Machine Readable Files (MRFs)

WebBackground . Under the “Transparency in Coverage” Final Rule (TiC), issued in 2020 by the U.S. Department of Health & Human Services, U.S. Department of Labor, and U.S. …

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