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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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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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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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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Estate Planning: The New Must-Have Benefit

December 4th, 2023|0 Comments

Estate planning benefits are gaining momentum as employers add these services to help employees with their financial affairs. With COVID-19 underscoring mortality and workers seeking more financial protection, interest is rising.

  • Support Your Staff as They Transition Back to Student Loan Payments: A line of young colleagues looking worried.

Support Your Staff as They Transition Back to Student Loan Payments

December 2nd, 2023|0 Comments

Now that federal student loan payments have restarted after a nearly three-year pause, HR teams can play a key role in supporting employees through this transition. With over 45 million Americans holding $1.77 trillion in stu¬dent debt, many workers face renewed financial burdens from monthly payments.