Posts by Island Group Plans
Benefits & Me – January 2022
Making Better Health Care Decisions It’s important to be an active participant in your health care. This can start with feeling empowered to effectively communicate with your doctors so you can make a collaborative, informed choice about your health care. To be a better health care consumer, remember the acronym “PREPARED”: Procedure—What course of action…
Read MoreWhat’s New January 2022
Supreme Court will Review Federal Vaccine Mandates On Dec. 22, 2021, the U.S. Supreme Court announced that it will hear oral arguments regarding whether two federal vaccine requirements can be enforced while legal appeals are in process. On Jan. 7, 2022, the Court will consider requests on the Occupational Safety and Health Administration’s (OSHA) federal…
Read MoreBenefits & Me – December 2021
What Happens If You Miss Open Enrollment? If you miss your employer’s open enrollment deadline, you could lose coverage for you and your family and be unable to make benefits changes or enroll until the next deadline. One exception to this rule is if you experience a life-changing qualifying event that would trigger a special…
Read MoreWhat’s New December 2021
New Rule Requires Reporting of Medical and Prescription Drug Costs On Nov. 17, 2021, federal agencies released an interim final rule requiring health plans and issuers to report information regarding the cost of prescription drugs and certain medical expenses. This rule is a continuation of the Biden administration’s efforts to promote greater transparency in health…
Read MoreWhat’s New November 2021
FAQs Address COVID-19 Vaccine Coverage and Premium Discounts On Oct. 4, 2021, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury issued FAQs addressing rules regarding premium incentives for COVID-19 vaccines and rapid coverage of preventive services for COVID-19. Premium Discounts for COVID-19 Vaccines The FAQs clarify that a group health…
Read MoreWhat’s New October 2021
Medicare Part D Notices Due Before Oct. 15, 2021 Each year, Medicare Part D requires group health plan sponsors to disclose whether the health plan’s prescription drug coverage is creditable to individuals eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS). Plan sponsors must provide the annual disclosure notice…
Read MoreNew York Announces Paid Family Leave Rates for 2022
New York state’s Department of Financial Services has released the paid familyleave employee contribution rate for 2022. In addition, the 2022 maximumbenefit amount is now available. 2022 Contribution and Benefit Rates New York paid family leave is funded entirely through employee contributions.The contribution rate beginning Jan. 1, 2022, has been set at the same level…
Read MoreWhat’s New September 2021
Agencies Issue No Surprises Act and Transparency Rule FAQs On Aug. 20, 2021, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued frequently asked questions (FAQs) regarding the implementation of the No Surprises Act and transparency provisions of the Consolidated Appropriations Act, 2021 (CAA). The FAQs provide that Departments…
Read MoreSeptember Benefits Breakdown
Why Starting Open Enrollment Early In 2021 Is More Important Than Ever Reports suggest that employees who put off job searches during the pandemic are likely to resume them in earnest this fall, leading to a “turnover tsunami.” Employers should recognize that they have a significant opportunity to retain employees if they begin open enrollment…
Read MoreCOBRA Subsidy Expiration Notice Due by Sept. 15 (Sooner for Some)
The American Rescue Plan Act (ARPA) provides COBRA premium assistance to eligible individuals and imposes notice requirements on health plans. One such requirement is that plans must notify eligible individuals about when their premium assistance ends, and whether they may be eligible for regular COBRA coverage or coverage under another group health plan. Background The…
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