News

It’s no surprise that health care costs are continuing to rise and while employers remain committed to providing benefits, many are re-evaluating their benefit strategies, using a mix of traditional cost-shifting approaches and new network and plan design strategies to combat those rising costs. Over 60% of employers have either implemented or are considering implementing […]

Employers would be able to use standalone reimbursement arrangements (HRAs) to compensate employees for health care expenses under a bipartisan bill recently introduced in Congress. The Small Business Healthcare Relief Act (H.R. 2911 and S 1697) would roll back Treasury Department guidance that prohibits employers from using standalone HRAs to compensate employees for health care-related expenses. […]

Being a fiduciary is not easy, and many retirement plan stakeholders don’t even realize they are fiduciaries. That opens the door for numerous mistakes that could end up costing the plan and the employer a lot of money. “A lot of plans focus on the best investments and best procedures and not the reason fiduciaries […]

People simply don’t think of health savings accounts as a long-term option. As a result, they overlook HSAs’ value as a long-term savings tool. That’s one finding in a study from UMB Healthcare Services, which found that not even one percent of people in the study maxed out their allowable contributions. People are so used […]

Recently, there has been a lot of discussion about whether plan sponsors should contract with their administrative providers for section 3(16) fiduciary services. Outlined below are the different types of fiduciary services available to plan sponsors. ERISA Section 3(16) Fiduciary Services A new offering in the marketplace, some third party plan administration firms (TPAs) are […]

To me, the ACA Cadillac tax is like a patient, powerful hurricane moving across the Atlantic. If it makes landfall, the impact will be dramatic. While some remain hopeful that it will drift off harmlessly into the North Atlantic, I prefer to chart its course, prepare accordingly, and remain cautiously optimistic that the storm track […]

LAS VEGAS–We’ve heard it before: Wellness programs are on the rise. (In fact, new research out this week from SHRM confirmed that wellness programs are continuing to grow in prevalence in workplaces around the country.) Still some employers just aren’t jumping on the bandwagon, or are slow to implement programs in their workplaces. But it’s […]

Few insurance plans available through Obamacare’s exchange system advertise themselves as “narrow network.” It’s not exactly a strong come-on to most consumers. But at least 41 percent of the popular silver plans sold via exchange in 2014 did, in fact, have what amounted to a narrow network when measured by how many physicians in the […]

Proposed regulations from the Department of Labor that aim to boost the number of workers eligible for overtime pay will likely increase the cost of doing business and may disproportionately affect some sectors, say legal analysts and industry groups. Last year the White House directed the DOL to update the overtime rules for salaried white-collar […]

The U.S. Supreme Court’s ruling upholding federal subsidies for approximately 6.4 million Americans who have obtained health coverage through a federally-facilitated exchange  sends a clear message to employers that the Affordable Care Act is here to stay. In a 6-3 vote, King V. Burwell is the second U.S. Supreme Court ruling to uphold ACA legislation […]