October 2023 Insurance Information & News

October 2023 Insurance Information & News

By Robert DeNinno, Jr. | September 26, 2023

Medicare Creditable Coverage Part D Notification Requirements Creditable coverage is prescription drug coverage that meets certain standards set by CMS. Medicare beneficiaries without creditable coverage may pay a higher premium for Medicare Part D prescription drug coverage. What Are The Notification Requirements? Each year, plans that offer prescription drug coverage to their Medicare-eligible members must…

Self-Funding Your Mid-Size Company’s Health Insurance

Self-Funding My Mid-Size Company’s Health Insurance, Is it worth it?

By Robert DeNinno, Jr. | September 13, 2023

Health Insurance began during the Great Depression Era because hospitals and physicians needed a way to guarantee payment. However, private health insurance through employers grew rapidly from 1940 to 1960 due to several favorable laws. At the beginning of World War II only 7% of the United States population had health insurance. By 1960 that…

September 2023 Insurance Information News

September 2023 Insurance Information & News

By Robert DeNinno, Jr. | September 1, 2023

Biden Admin Asks Employer Group Health Plan Sponsors to Extend Qualifying Event Periods The Biden Administration has asked employer group health plan sponsors to extend their special enrollment periods for people who lose Medicaid or CHIP eligibility. This is because millions of Americans are expected to lose access to these programs in the next nine…

August 2023 Insurance Information & News

August 2023 Insurance Information & News

By Robert DeNinno, Jr. | August 2, 2023

New Jersey Passes Prescription Drug Reform Legislation New Jersey’s Governor Phil Murphy signed a trio of bills on July 10, 2023, to combat high prescription drug costs. The legislation includes capping medication prices for state-regulated public employee plans, regulating pharmacy benefit managers (PBMs), and enhancing prescription drug price transparency. These measures will be phased in…

July 2023 Insurance Information

July 2023 Insurance Information & News

By Robert DeNinno, Jr. | July 3, 2023

Highmark Offering Plans for Larger Groups in South Eastern PA Highmark Blue Shield Southeastern Pennsylvania is a health insurance company that was founded in 1996 by the merger of two Blue Cross Blue Shield plans, Blue Cross of Western Pennsylvania and Pennsylvania Blue Shield. The company provides health insurance to over 1.1 million members in…

June 2023 Insurance Information & News

June 2023 Insurance Information & News

By Robert DeNinno, Jr. | June 7, 2023

New PA Law Mandates Coverage for Cancer Screenings Pennsylvania Governor Josh Shapiro enacted S.B. 8 into law on May 1, 2023, mandating that health insurers providing fully insured coverage in the state must cover certain cancer screenings without any additional charges. This legislation, named Act One of 2023, received unanimous approval from both the House…

Precision Benefits Group Ranked Among Top Insurance Brokerages in Philadelphia (Again!)

By Robert DeNinno, Jr. | May 15, 2023

The Philadelphia Business Journal released its 2023 Insurance Brokerage Lists which ranked Precision Benefits Group among the Philadelphia region’s top insurance brokerages and employee benefit firms. “We’re thrilled to be named in the Philadelphia Business Journal’s Top Insurance Brokerage List, and our inclusion is certainly a credit to our entire team,” said Robert DeNinno, Principal of…

May 2023 Insurance Information

May 2023 Insurance Information & News

By Robert DeNinno, Jr. | May 3, 2023

ACA Preventive Care Coverage Stricken Down: A US District Court Judge has issued a final judgment striking down portions of the Affordable Care Act’s (ACA) preventive care coverage mandate, which mandates health insurance issuers and group health plan sponsors cover certain preventive care services without applying cost-sharing. The ruling specifies new limits on enforcing the…

April 2023 Insurance Information

April 2023 Insurance Information & News

By Robert DeNinno, Jr. | March 31, 2023

Protected: New Compliance Federal Requirement Related To Gag Clauses In Group Health Plan Contracts The Consolidated Appropriations Act 2021 (CAA-21) forbids group health plans or those who offer group health insurance from taking part in contracts with other health care entities that have certain gag clause language. As of February 23, 2023, the Departments of…


March 2023 Insurance Information & News

By Robert DeNinno, Jr. | February 27, 2023

It’s essential for you to stay current with the most recent insurance information for your business. We have summarized the most critical facts and guidelines for March 2023 that your enterprise should be cognizant of to remain in compliance. Proposed Revisions to Contraceptive Coverage Rules The Biden Administration is proposing revisions to the existing preventive…

February 2023 Insurance Information & News

By Robert DeNinno, Jr. | February 9, 2023

Stay in the know about timely insurance information for your business.  We’ve summarized the most important facts and guidelines for February 2023 that your business should be aware of to stay in compliance. IMPORTANT UPCOMING INSURANCE COMPLIANCE DATES FOR 2023 ACA 1094 & 1095 Reporting Forms Due February 28, 2023—This applies to applicable large employers…

Top 6 Compliance Tasks To Close Out 2022

By Robert DeNinno, Jr. | November 29, 2022

We’ve outlined six compliance tasks to help your organization close out the 2022 year with a strong sense of compliance confidence. View the resources and steps below to ensure your organization stays on top of their compliance obligations and end the year with peace of mind. Prepare for Affordable Care Act (ACA) Reporting  Now is…