Author Archives: Hoffman Insurance Group
FICA Reduction Redux – IRS Issues Guidance on Wellness Indemnity Payments
On June 9, 2023, the IRS released OCC Memo 202323006, which advises that wellness indemnity payments under a fixed indemnity insurance policy are wages for purposes of Federal Insurance Contributions Act (FICA) taxes, Federal Unemployment Tax Act (FUTA) taxes, and … Continue reading
New FAQs on ACA’s Cost-sharing Limit and No Surprises Act
On July 7, 2023, the Departments of Labor, Health and Human Services, and the Treasury (Departments) issued frequently asked questions (FAQs) on the implementation of the Affordable Care Act’s (ACA) overall cost-sharing limit and the No Surprises Act’s (NSA) protections … Continue reading
Major Health Insurers Warn of Increased Medical Costs
Major health insurers UnitedHealth and Humana are warning about a jump in medical costs this year due to higher-than-anticipated demand for surgeries and other medical procedures. Insurers have benefited from nonurgent surgery delays during the COVID-19 pandemic and hospital staffing … Continue reading
What Is Loss of Use Coverage in Homeowners Insurance?
Imagine your home is damaged and you have no choice but to temporarily leave it while repairs are underway. The question arises: Where would you stay? Will the cost of a hotel or temporary apartment fit into your budget? This … Continue reading
Hurricane Season Is Here, Are You Ready?
We can’t prevent them from coming our way, but now is the time to assess your preparedness for the 2023 storm season. With the season running from June 1 to November 30, coastal and inland region homeowners must prepare for … Continue reading
Fourth of July Safety Tips for Pet Owners and Homeowners
Fourth of July can be ruff for pets. While fireworks, grilling, and outdoor gatherings add a certain spark to our July 4th celebrations, they’re known to pose potential hazards for not just our furry friends, but for everyone if not … Continue reading
REMINDER: PCORI Fees Due By July 31, 2023
Employers that sponsor self-insured group health plans, including health reimbursement arrangements (HRAs) should keep in mind the upcoming July 31, 2023 deadline for paying fees that fund the Patient-Centered Outcomes Research Institute (PCORI) via Form 720, which was recently updated … Continue reading
Strategies for Identifying and Resolving Gaps in Benefits Offerings
In today’s competitive employment landscape, many organizations recognize that employees are their most valuable asset. To attract and retain top talent, employers must go beyond competitive salaries and create holistic and meaningful employee benefits packages that address diverse workforce needs. … Continue reading
HSAs, HRAs and FSAs
Employer Cheat Sheet for HSAs, HRAs and FSAs – Infographic Employers are increasingly looking to consumer driven health plans to help soften the blow of continually rising health care costs. Depending on the model, consumer driven health plans typically include … Continue reading
DOL Issues Guidance on Preventive Care Court Order
On March 30, 2023, the United States District Court for the Northern District of Texas issued an order in Braidwood Management Inc. v. Becerra (“Braidwood”), vacating any and all actions taken by the DOL and other federal agencies (in the … Continue reading
