Category Archives: Health
What You Should Know About Medicare Enrollment
Medicare is health care coverage for those age 65 and older. It’s important to understand Medicare enrollment and coverage options to avoid penalties down the road. Whether you’re reaching the age of 65 or you’re older and switching from your … Continue reading
Health Care Costs Projected to Grow 7% in 2024
Health care costs are expected to grow 7% in 2024 due to rising pharmaceutical expenses driven by specialty drugs and insurers increasing rates in response to inflation, according to an annual report from professional services firm PricewaterhouseCoopers (PwC). This trend … Continue reading
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
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
Workers Are Enrolled in HDHPs – Over Half of U.S. Private-sector
More than half (55.7%) of American private-sector workers were enrolled in high deductible health plans (HDHPs) in 2021, according to the Kaiser Family Foundation’s recent 2022 Employer Health Benefits Survey. The 5.3% increase from 2020 is the highest on record, … Continue reading
Study Reveals Americans’ Top Health Priorities
Study Reveals Americans’ Top Health Priorities New survey research reveals that Americans believe the government’s top public health priority should be lowering costs for health care and prescription drugs. The market firm Ipsos and news website Axios teamed up for … Continue reading
Employee Guide to the Major Types of Health Plans
You have many choices when it comes to selecting a health insurance plan, which can make the process feel overwhelming. Health plans vary and have their own sets of benefits and drawbacks related to coverage, physicians, copays and premiums, among … Continue reading
PRIORITIZING WELLNESS DURING THE 2022-23 SCHOOL YEAR
Many may be excited for school to start after a long summer. However, the new school year can come with new and recurring challenges. The 2022-23 school landscape looks different from previous years during the COVID-19 pandemic. Mask mandates are … Continue reading
Inflation Reduction Act Contains Some Health Reforms
On Aug. 12, 2022, the U.S. House of Representatives passed the Inflation Reduction Act. President Joe Biden is expected to sign it into law shortly. While this bill is primarily aimed at fighting inflation and reducing carbon emissions, it also … Continue reading
Pay or Play Affordability Percentage Decreased for 2023
On Aug. 1, 2022, the IRS issued Revenue Procedure (Rev. Proc.) 2022-34 to index the contribution percentages in 2023 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2023, employer-sponsored … Continue reading
