1 minute read
U.S. employers predict a 5.8% rise in health benefit costs for 2025, according to Mercer’s 2024 National Survey of Employer-sponsored Health Plans. This is the third year in a row that...
1 minute read
U.S. employers predict a 5.8% rise in health benefit costs for 2025, according to Mercer’s 2024 National Survey of Employer-sponsored Health Plans. This is the third year in a row that...
1.5 minute read
The IRS reminds businesses that changes under the SECURE 2.0 Act, starting in tax year 2023, may affect Form W-2 reporting. A fact sheet released on August 29, 2024, details the...
2 minute read
On Aug. 8, 2024, the U.S. Department of Health and Human Services (HHS) issued a final rule increasing key penalties for group health plans. The amounts are adjusted annually for...
1 minute read
According to the Centers for Medicare and Medicaid Services (CMS) health care spending in the United States is projected to increase by 5.8% this year to $1.3 trillion. The spending per...
3 minute read
An individual coverage health reimbursement arrangement (ICHRA) is an employer-funded healthcare account that provides an alternative to traditional group health plans. Employers can...
1 minute read
Several pharmaceutical companies plan to raise prices on over 500 drugs in January, including 140 brands. Companies say that high inflation and supply chain concerns in the Middle East...
1.5 minute read
The IRS issued Notice 2024-2 which gives guidance regarding the “SECURE 2.0” Act. SECURE 2.0 is part of the Consolidated Appropriations Act of 2023 which was signed in December of...
1 minute read
Many employee benefits are subject to annual dollar limits which are adjusted for inflation by the IRS each year. Many limits will increase for 2024.
1 minute read
The IRS issuedNotice 2023-70, which increases the fee for plan years ending on or after October 1, 2023, and before October 1, 2024, to $3.22 multiplied by the average number of lives...
1 minute read
In 2023, U.S. employers’ adoption of individual coverage health reimbursement arrangements (ICHRAs) increased by 64%, according to a HRA Council report. An ICHRA allows employers to...