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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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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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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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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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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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.
Related Articles
Form 5500 Filing Season: What Employers Should Review Before July 31
As mid-year approaches, employers sponsoring benefit plans should begin preparing for upcoming Form 5500 filing obligations. For many calendar-year plans, Form 5500 filings are due by July 31, making June an ideal time to confirm whether filing requirements apply and ensure needed information is being gathered.
Pharmacy Costs Are Surging Again — What Employers Can Actually Do in 2026
Pharmacy spending is once again the fastest growing component of employer health plans. Specialty drugs now account for more than half of total pharmacy spend, and GLP 1 medications for diabetes and weight management are reshaping budgets. Employers are feeling the pressure: rising premiums, unpredictable claims, and employee expectations for access to high cost therapies.
Self Funding for Small and Mid Sized Employers: Why 2026 Is the Breakout Year
Self funding is no longer just for large employers. In 2026, small and mid sized businesses are embracing level funded and partially self funded plans at record rates. Rising premiums, greater access to stop loss coverage, and improved data analytics are making self funding a viable option for groups as small as 25–50 employees.