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...

1.5 minute read

On August 15, the Department of Health and Human Services (HHS) and top drugmakers agreed to lower prices on the first 10 drugs subject to Medicare price negotiations. Drug discounts...

1.5 minute read

On August 19, 2024, the IRS released Notice 2024-63, offering interim guidance for sponsors of 401(k) and comparable retirement plans looking to offer matching contributions based on...

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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...

1.5 minute read

For plan years beginning on or after January 1, 2025, employers should be aware of compliance changes affecting the design and administration of their health plans. Changes should be...

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...

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A recent report from PatientRightsAdvocate.org (PRA) revealed that just one-third (34.5%) of hospitals fully adhered to the federal Hospital Price Transparency Rule. Out of the 2,000...

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The U.S. Department of Labor (DOL) recently issued resources to help health plans and insurers submit their annual compliance attestation for the Consolidated Appropriation Act’s (CAA)...

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

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...