Nothing to Hide Here

Nothing to Hide Here

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…)

Health Plan Sponsors Should Expect New Fee Disclosures from Brokers and Consultants

Health Plan Sponsors Should Expect New Fee Disclosures from Brokers and Consultants

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…)

We Look at Things Differently. So Should You.

We Look at Things Differently. So Should You.

Chelko uses our unique clinical and sourcing expertise to dramatically reduce drug benefit costs for plan sponsors and improve member care. While others mistakenly chase discounts and rebates, we focus on removing waste and excessive profiteering from plans and helping members more affordably get the medications they need.

The fact is, too many people are using old strategies to take on new challenges. While brand and generic medications make up almost 99% of total prescriptions and have long been the primary focus of most cost reduction efforts, it’s more than time to shift our attention to the other 1%. (more…)

IRS Issues Guidance on COBRA Subsidy

On May 18, 2021, the IRS issued Notice 2021-31, a guidance document on the American Rescue Plan Act (ARPA) subsidy for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The Notice discusses the background of the subsidy and includes 86 questions and answers (Q&As) about its application. Read more…

 

 

 

 

 

HSA/HDHP Limits Increase for 2022

On May 10, 2021, the IRS released Revenue Procedure 2021-25 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2022. The IRS is required to publish these limits by June 1 of each year. Read more…