Compliance is the cornerstone of any employee benefit plan…

NHA Co-Founder Michael Caparso addresses the changing landscape of employee benefits post Affordable Care Act (ACA) implementation in the latest publication of American Healthcare Leader.  Michael discusses the increasing challenges that face employers when implementing a benefits plan, and how brokers need to adapt to the rapidly evolving industry.

Full Article Here

Reminder:  Upcoming 1094 filing deadline is approaching

The deadline for the 1095-B/1095-C reporting has come and gone, and the 1094-B/1094-C deadline is coming up next.  Once you’ve verified that your 1095-B/1095-C filings are accurate, it’s then time to finish the process and file the 1094-B/1094-C report.  The 1094-B/1094-C report is a transmittal to the IRS of all the 1095-B/1095-C filings.  The 1094-B/1094-C report includes an overview of the 1095-B/1095-C data as well as copies of all 1095-B’s/1095-C’s that were already filed.  The deadline to file the 1094-B/1094-C is May 31st if filing via print and mail, or June 30th if filing electronically.  Please note that any group filing at least 250 1095-B/1095-C forms must file electronically.  For additional information, please reach out to NHA for assistance.

Click here for FAQ’s on 1094 & 1095 reporting

Spending too much on Rx?

Prescription drug costs can vary drastically from one provider to the next.  Most members don’t understand just how significant the differences may be and don’t take the additional steps to find the most affordable option when filling a prescription.  GoodRx is a free solution that identifies prescription costs by location, and also provides coupons for additional savings.

See if GoodRx can help you

DOL issues Final Rule on FLSA exempt thresholds
The Final Rule updates the salary level required for exemption through FLSA’s overtime protections.  The Final Rule primarily focuses on the compensation levels needed to classify EAP(Executive, Administrative, and Professional) workers as exempt.  The Final Rule establishes the standard salary level at the 40th percentile of earnings at $913 weekly ($47,476 annually) which is a significant increase from the prior standard of $455 weekly ($23,660 annually).  These changes will take effect on December 1st, 2016.  Please see the blow link for additional details from the Division of Labor.
Updates to Summary of Benefits and Coverage (SBC’s) and other important health plan documents…

On April 6, 2016 the Department of Health and Human Services (HHS), Department of Labor (DOL) and Treasury released the new Summary of Benefits and Coverage (SBC) templates, instructions, and uniform glossary.  The new SBC template will be applicable on the first open enrollment period on or after 4/1/2017.  Please see the below links for additional information on the changes and to also see the new template design.Additional SBC details from CMS