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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...
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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...
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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...
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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...
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An individual coverage health reimbursement arrangement (ICHRA) is an employer-funded healthcare account that provides an alternative to traditional group health plans. Employers can...
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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...
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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...
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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.
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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...
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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...
