Articles

Providence-Swedish Health & Services May Be Leaving Premera Blue Cross

We received notice late Wednesday that Providence-Swedish Health & Services has decided to terminate their contract with Premera Blue Cross, effective January 1, 2017.
At this time we do not know if this decision to terminate is a final position on the part of Providence or part of their negotiations with Premera.

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Minimizing Healthcare Regulatory Risk

Regardless of your role within the healthcare space, everyone can have an impact on how an organization minimizes regulatory risks. Healthcare executives need to understand the trending regulatory claims, the best way to partner with insurance associates, and how varying policies interface with the associated liabilities.

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Innovative Insurance Solutions For Today’s Mergers & Acquisitions

As mergers and acquisitions become more common, the risk of financial loss in these deals is increasing. A properly structured reps and warranties insurance policy can help protect both the buyer and seller. PS&F’s Cliff Rudolph explains further in the PSBJ.

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Final SBC Template and Related Materials

The Departments of Labor, Treasury, and Health and Human Services (“the Departments”) have released final versions of the Uniform Summary of Benefits and Coverage (SBC) template, instructions, sample language, and Uniform Glossary (“glossary”), along with a Coverage Examples Calculator and related instructions. Group health plans and issuers must begin using the final templates on the first day of the first open enrollment period, plan year, or policy year beginning on or after April 1, 2017.

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Employer Reporting Errors

Now that the deadline under Sections 6055 and 6056 for issuing statements to employees/covered individuals has passed, employers may begin to identify errors in the statements issued. And once statements are filed with the IRS, the IRS may identify errors or information that does not match its records. In both cases, employers must take steps to rectify the errors or address inconsistencies (or demonstrate reasonable cause) to avoid potential penalties under Code §§6721 and 6722.

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Employer Exchange Subsidy Notices – Appeal or Not?

Employers are starting to receive notices from public Exchanges indicating that one or more employees are receiving a subsidy when purchasing individual health insurance coverage through a public Exchange. This could potentially trigger employer penalties under §4980H. If an employer receives such a notice, the employer has a right, but is not required, to appeal when they feel an employee should not be receiving a subsidy because the employer offers minimum value, affordable coverage.

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Disability Insurance Due Diligence

According to multiple surveys, approximately 90% of employers offer long-term disability (LTD) insurance to their employees.

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EEOC Final Rules on Wellness Programs

The Equal Employment Opportunity Commission (EEOC) has released two separate sets of final regulations relating to wellness program compliance under the Americans with Disabilities Act (ADA) and the Genetic Information Nondiscrimination Act (GINA). Despite a few recent court rulings against the EEOC’s voluntary requirements for wellness programs, the final rules generally clarify and confirm what was previously set forth in the proposed rules issued last year while expressing EEOC’s reasons for disagreeing with the court decisions.

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Does Your Company Have a Network Breach Plan?

Your company may have purchased cyber coverage, but does that mean you have a network breach response plan in place? Parker, Smith & Feek’s Ed Rhone can tell you more in the Puget Sound Business Journal.

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REMINDER: PCORI Fees Due July 31

Employers who sponsor self-funded medical plans must report and pay the ACA Patient-Centered Outcomes Research Institute (PCORI) fees no later than July 31, 2016. Health insurance carriers will pay the fee directly in the case of fully-insured plans.

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PART 3 OF 3: Construction Industry Risks: Cyber Insurance

Cyber Insurance
Despite our heightened awareness and best in class cyber controls, most companies will at one time or another experience a cyber security event. Whether it’s a malicious hacker, extortionist, or just a disgruntled employee, our networks seem to be under constant surveillance and attack.

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PART 2 OF 3: Construction Industry Risks: Data Privacy and Cyber Security Risk Management and Risk Transfer

Data Security Risk Management Basics
The risks associated with the collection, transfer, and retention of data are real and significant. For a construction company, it is of paramount importance to identify areas of exposure and develop adequate risk management programs that address data privacy and security. To help you get started, here is a list of questions to ask yourself when developing your corporate risk management plan. These should include, but not be limited to, identifying and inventorying your corporate data.

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