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IRS Revenue Procedure 2023-34 outlines updated penalties for noncompliance with ACA requirements under IRC Sections 6055 and 6056. These increased penalties apply to 2024 information...
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Despite competitive health care benefits, many employees still face medical debt. Over 40% reported experiencing this issue, as per a survey by Goodroot.
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Group health plans and issuers must submit detailed data on prescription drug and health care spending annually to the Centers for Medicare & Medicaid Services (CMS). Known as the RxDC...
2 minute read
When it comes to health insurance, employers are constantly searching for ways to optimize coverage and manage costs. That's where embedded and nonembedded deductibles come into play....
1.5 minute read
Group health plan sponsors must annually complete an online form with the Centers for Medicare & Medicaid Services (CMS) to disclose if their prescription drug coverage is creditable...
1.5 minute read
The U.S. Food and Drug Administration (FDA) has granted Florida permission to directly import prescription drugs from Canada. This historic policy shift has the potential to...
4.5 minute read
Employers should be aware of the compliance issues impacting their health plan coverage in 2024, including expanded electronic reporting requirements under the ACA and anticipated...
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The Centers for Medicare and Medicaid Services released the cost sharing limits for 2025 plan years. The new limits will be $9,200 for self only coverage and $18,400 for family coverage.
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The Inflation Reduction Act allows the federal government to negotiate directly with drug manufacturers to improve access to several costly brand-name drugs. Despite legal challenges,...
1.5 minute read
The Internal Revenue Service (IRS) has released the final 2023 forms and instructions for reporting under IRS Code Sections 6055 and 6056.
