On February 20, the Departments of Labor, Treasury, and Health and Human Services announced the release of both final and proposed regulations implementing a 90-day limit on waiting periods for health coverage. Provided by Larry Grudzien, Attorney at Law. The following is a summary of these regulations: Summary of the 90-day Waiting Period Limitation Under […]
According to the Experian report, “2014 Data Breach Industry Forecast,” healthcare will be a hotbed of consumer data breaches in 2014. Why will healthcare, as an industry, be so susceptible to such publicly disclosed and widely scrutinized breaches? Sheer size. In 2013 Americans spent more than $9,210 per capita on healthcare. Expanded “attack surface.” 1.1 […]
As the snow starts to fly here in the Midwest, our four legged friends have returned. BASIC’s Corporate office backs up to a nature reserve and we benefit with a spectacular view. Tuesday, December17th we had seven visitors. We don’t often have bucks with racks visit. This fellow was a rare treat.
The Americans with Disabilities Act (ADA) is one of the most comprehensive pieces of civil rights legislation. With a significant impact on health benefits it affects both individuals and employers. Did you know? 1 in 4 of today’s 20 year-olds will become disabled before they retire Over 37 million Americans are classified as disabled which […]
As one of the most important documents for participants’ employees and their dependents, the Summary Plan Description (Wrap SPD) communicates what a Health Benefit plan(s) provides and how it operates. All employers who offer Group Welfare to their employees are required to provide SPD’s containing clear language about available benefits that are compliant with ERISA, […]
Mental health benefits and medical health benefits need to be made available on an equal basis, according to Congress. The idea was to prevent employers from being more generous with health benefits for standard medical and surgical services than they were for mental health and addiction services. This is why Congress passed the Mental Health Parity […]
At long last, the U.S. Supreme Court has agreed to resolve a matter that has perplexed payroll managers for the last few years. In the controversial Quality Stores case, the Sixth Circuit Court of Appeals ruled in 2012 that severance payments should not be treated as wages for payroll tax purposes, a conflicting decision with […]
From the Desk of Dave Tomko, owner – The Growth Coach of West Michigan I am on a crusade to re-educate and re-focus senior business managers to lead more and manage less. I have found that this shift in attitude leads to a much more fulfilling and enjoyable career. It will also eventually make you […]
Courtesy of: The Healthcare Trends Institute
Earlier today, the Department of Treasury issued Notice 2013.71 that modifies the FSA “use-it-or-lose-it” provision to allow a limited rollover of FSA funds. This is GREAT NEWS for participants and employers who sponsor an FSA plan, and a positive improvement to a rule that has been opposed for many years. The highlights: Effective immediately, […]
