Medicare Part D Notices Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals …
With open enrollment season approaching, now’s the time for HR professionals to kick off their planning. Due to the pandemic—and employees’ desire for flexibility—many employers now find themselves with a workforce on a hybrid schedule. It’s imperative they make appropriate adjustments to lead a successful open enrollment period. As a flexible model designed to support …
To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan 1, 2022. Employers should review their plan documents to confirm that they include these required changes. Our 2022 Open Enrollment Checklist is available …
On July 26, 2021, the IRS issued Notice 2021-46, providing additional guidance on the application of the American Rescue Plan Act (ARPA) subsidy for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) in the form of 11 questions and answers. You can view the official notice HERE. The Notice expands …
Stay safe in the sun! This excerpt is an example of the monthly newsletters we send out to all our companies, so they can provide additional value to their employees. We go above and beyond for the companies that we work with. If you have any questions about your employee benefits, visit our page HERE. …
Even before the COVID-19 pandemic, many working parents struggled to balance work and home life. As employees look ahead to life after the pandemic, the challenges of pulling double duty will likely remain. It will be vital for your company to discuss how to support working parents. 60% of working parents have no outside help in …
The Complete Guide to Employee Benefits Introduction In this guide, you’ll learn key strategies for structuring your employee health benefits, important cost containment strategies your company can implement to reduce your claims and renewal rates, the most desired employee benefits, and the average annual cost for offering top benefits. Offering quality benefits to your employees …
Cost Containment Solutions Rate increases are driven by demographics, medical inflation, but mostly from claims. We have multiple avenues for containing your claims costs. We have strategies you can use to contain costs, but to a degree, rising healthcare costs can be out of your control. With our employee groups who have taken advantage of …
Most Desirable Employee Benefits Creating a complete package of benefits includes far more than just health insurance. The benefits you offer your employees play a large role in creating a culture that first-class employees flock to. At Compass Insurance Advisors, we’ve compiled the data to help you make an educated decision about which benefits you …
