September 2023 Insurance Information & News
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
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 & News
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
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!)
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 & News
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 & News
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
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
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
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…
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…