INSURICA Employee Benefits Insights

Keeping you ahead of the risks and challenges unique to your industry.

December 2022
IN THIS ISSUE

According to David Jordan, president and CEO of the United Methodist Health Ministry Fund, 11% of Americans used telemedicine before the pandemic. In May 2021, that figure had increased to 38%, based on data from the American Psychiatric Association.

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FEATURED ARTICLE
A female pharmacist handing a female customer her prescription.

Q4 2022 Essentials for Plan Sponsors

Here are some key factors and deadlines to keep in mind for Q4 2022: The RxDC reporting requirement requires employers to submit prescription drug data to the Department of Health and Human Services (HHS), the Department of Treasury, and the Department of Labor (DOL). The deadline is December 27, 2022. Some of the required information includes:

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FEATURED ARTICLE
A woman sitting in a chair, holding a young child, while communicating with a doctor via conference call.

Access to Telemedicine Diminishes

Telemedicine saw a surge in popularity during the COVID-19 pandemic, as it allowed for social distancing and reduced the risk of infection spread. According to David Jordan, president and CEO of the United Methodist Health Ministry Fund, 11% of Americans used telemedicine before the pandemic. In May 2021, that figure had increased to 38%, based on data from the American Psychiatric Association.

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FEATURED ARTICLE
A blue medical journal with Affordable Care Act (ACA) in yellow. A stethoscope sits on top of the journal

Five Critical Issues for Employers Reporting 2023 ACA Compliance

According to the Affordable Care Act (ACA), applicable large employers (ALEs) are obligated to offer full-time employees and dependents affordable minimum essential health coverage. They must also report to the IRS information about the health coverage plans they offer. Here are five critical issues employers should remember to ensure they are in compliance with the ACA reporting rules for 2023:

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FEATURED ARTICLE
A group of employees taking a selfie after a meeting. One way to retain top talent is to offer extra benefits.

Businesses Expand Employee Benefits Offerings to Attract and Retain Top Talent

In today’s competitive labor market, offering traditional benefits like healthcare is no longer enough to attract and retain top talent. Business leaders should consider expanding their definition of employee benefits to meet the unique needs of their workforce. By providing a diverse range of benefits, companies can boost morale, increase job satisfaction, and improve retention rates.

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FEATURED ARTICLE
a female looking at a tablet going through her employee benefits options

Online Tools Help Employees Make Better Benefits Choices, Boost Engagement

The traditional enrollment process for employee benefits, which often involved filling out paper forms and waiting for them to be processed, has shifted towards an online platform. Employers are now seeking ways to improve this experience by incorporating decision-support tools.

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What Employers Need to Know About Medicaid Redeterminations

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In 2020, the U.S. Congress passed the Families First Coronavirus Response Act in response to the COVID-19 pandemic. This act required states to maintain Medicaid coverage for most enrollees and barred disenrollment for Medicaid recipients during the public health emergency (PHE) to help ensure that individuals had health coverage during the pandemic.

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Employee Options After Losing Medicaid Coverage

May 2nd, 2023|Comments Off on Employee Options After Losing Medicaid Coverage

In 2020, the U.S. Congress passed the Families First Coronavirus Response Act in response to the COVID-19 pandemic. This act required states to maintain Medicaid coverage for most enrollees and barred disenrollment for Medicaid recipients during the public health emergency (PHE) to help ensure that individuals had health coverage during the pandemic.

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President Vetoes Attempt to Overturn ESG Rule

April 24th, 2023|Comments Off on President Vetoes Attempt to Overturn ESG Rule

On March 20, President Joe Biden vetoed the US Senate’s vote to overturn the Environmental, Social, and Governance (ESG) rule, which allows retirement plan fiduciaries to consider ESG factors when selecting investments.