IRS Issues Final Rule to Fix ACA’s ‘Family Glitch’
The “family glitch” stems from 2013 guidance from the Treasury Department and the IRS. It essentially stated that a family’s eligibility for a marketplace premium subsidy is based on whether or not employer-sponsored insurance is affordable, with minimum value coverage for only the employee. That means the employee’s family members are not eligible for premium…
Top Benefit Renewal and Open Enrollment Tips for 2023
Whether you are in human resources, manage finances, are an executive or handle employee benefits for your company in some capacity, your benefits renewal and open enrollment can be one of the most stressful times of the year. As that January 1st date draws closer, so does the deadline for all of those benefits administration…
July 1 Transparency Deadline for Insurers and Group Health Plan Sponsors Looms
A federal health insurance coverage price transparency rule takes effect on July 1, 2022, for all health insurance policies renewed between January 1, 2022, and July 1, 2022. For all other plans, the requirement will take effect upon renewal in 2022. The new rule applies to health insurance carriers and employers that offer group coverage…
How Businesses’ Health Plans May Be Impacted By Dobbs v. Jackson SCOTUS Decision
The impact of the Supreme Court’s opinion in Dobbs v. Jackson and subsequent changes will continue for the foreseeable future. One of the major questions employers are asking is how their health plan is impacted by the Dobbs decision. While this is not an exhaustive list of how health plans may be impacted, what follows looks at some of…
Webinar: Improving Your Hybrid Work Model with Cutting Edge Communications and Benefits Administration Technology
About this event Has your organization shifted to hybrid or remote work? Organizations continue to determine the best fit workplace strategy and technology to empower their people and support business goals. Join Precision Benefits Group Principal Robert DeNinno, Partner Harry Bickel, and Recent Communications’ Managing Partner, Charlotte Conroy as they discuss how businesses can utilize…
Employers Boost Mental Health Benefits Amid the Great Resignation
The Covid-19 pandemic drove home the need for employers to address workers’ mental wellness. The “Great Resignation,” also called the “Great Reshuffle,” is showing that not following through could send employees walking out the door. Millions of Americans have quit their jobs over the past year, including a record 4.5 million in March alone. Many attribute their…
Precision Benefits Group Announces Harry Bickel as New Partner
Philadelphia, Pennsylvania, February 10, 2022 — Precision Benefits Group is pleased to announce the promotion of Harry Bickel to the position of Partner with the firm. Harry has been a Benefits Consultant since 2010, being an integral part of the company’s growth over the years. “As the firm continues on its exciting growth trajectory in…
Robert DeNinno Jr. Featured in Philadelphia Inquirer on Hot Employee Benefits for Small Businesses
Robert DeNinno Jr., Principal of the Philadelphia based Precision Benefits Group was quoted in The Philadelphia Inquirer article, “Five hot benefits for small businesses to help attract workers.” Gene Marks, author, columnist, and small business expert, explores some of the most innovative employee benefits that small business owners can offer to attract and retain employees. The article…
Supreme Court Blocks Biden’s Virus Mandate for Large Employers
UPDATE 1/13/2022: Today the Supreme Court blocked the Biden administration from enforcing a vaccine-or-testing mandate for large employers. The court however allowed a more modest mandate requiring health care workers at facilities receiving federal money to be vaccinated. The vote in the employer mandate case was 6 to 3, with liberal justices in dissent. The vote in…
IRS Issues Guidance About End of Employer Retention Tax Credit
The Employee Retention Tax Credit was created as part of the federal CARES Act in March of 2020 to provide certain employers suffering from severe pandemic-related economic effects with an employment tax credit to cover the wages and/or health insurance costs of eligible employees. The credit was supposed to expire at the end of 2020,…
Biden Administration Announces Details on the New Health Plan Prescription Drug and Medical Care Cost Reporting Requirements
One of the many requirements that the “No Surprises Act” portion of the Consolidation Appropriations Act of 2020 places on group health plan sponsors is a new obligation to report detailed prescription drug and medical care spending information to the federal government on an annual basis. The Biden Administration just released an Interim Final Rule addressing how to…
Combat Employee Turnover by Asking These 4 Questions
As the job market becomes ripe with new opportunities, the mass exodus of workers carries on: In April, the share of U.S. workers leaving their jobs was 2.7%, the highest level since the year 2000, according to the U.S. Department of Labor. Companies that want to maintain — and even grow — their workforces need to…