Jul 27, 2021 | Commentary
June arrived with a splash at Chelko, as we explored findings from our sixth annual Deep Dive employer survey. While we were limited to a virtual presentation for the second straight year ― a departure from our traditional all-day gathering in Columbus ― we were still able to provide a robust discussion around what is driving medical and drug spend for the 50 participating employers in markets across Ohio and beyond. (more…)
Jul 1, 2021 | Commentary
You can see right through us. And we’re totally fine with that.
For plan years beginning on December 27, 2021, or later, brokers and consultants will be held to new compensation transparency obligations under the Consolidated Appropriations Act (CAA). The CAA creates new requirements for brokers and consultants (referred to in the rules as “covered service providers” or “CSPs”) to disclose to ERISA-covered group health plan sponsors any direct or indirect compensation they may receive for referral of services. (more…)
Jul 1, 2021 | Legislative Updates
Employers of all sizes need to be aware that their group health plans will soon be receiving new fee and compensation disclosures from the health plan service providers. The Consolidated Appropriations Act, 2021 (“CAA”), signed into law by President Trump on December 27, 2020, imposes new fee disclosure requirements upon brokers and consultants to group health plans covered by the Employee Retirement Income Security Act of 1974 (“ERISA”). This insight explains what disclosures you should be expecting to be receiving from your plan’s service providers. These new disclosure rules apply to major medical/prescription drug plans, dental plans, vision plans, health flexible spending accounts, and health reimbursement arrangements. (more…)