
Articles
Blue Cross Blue Shield Antitrust Settlement
Monday, April 26, 2021
In October 2020, the BlueCross BlueShield (BCBS) Association, of which both Regence Blue Shield and Premera Blue Cross are a part, reached a settlement in a lawsuit related to licensing agreements within the BCBS system. From the settlement, funds have been allocated to compensate both employers and employees who were covered by a BCBS plan during the settlement period.
Finding Success During a Pandemic
Friday, April 23, 2021
It’s been a year since the COVID-19 pandemic struck and shutdown orders forced the majority of Parker, Smith & Feek’s workforce to remote environments.
The Ever Given’s Impact on the Marine Insurance Market
Monday, April 19, 2021
On March 23rd, the 400-meter cargo ship Ever Given owned by Evergreen ran aground in the Suez Canal after encountering high winds, grinding vessel traffic on the central shipping route between Europe and Asia to a complete standstill for almost a week straight.
How the Hard Insurance Market is Impacting Personal Lines Insurance
Friday, April 16, 2021
Starting in September of 2019, the commercial insurance marketplace began to show signs of firming. Since then, most insurance markets in the property and casualty industry have entered a full-blown hard market cycle…
Qualifying Medical Expenses Include COVID-Related PPE
Thursday, April 15, 2021
In IRS Announcement 2021-07, the IRS clarified that amounts paid for personal protective equipment (PPE) such as masks, hand sanitizer, and sanitizing wipes may be treated as qualifying medical expenses and thereby qualify for tax-favored reimbursement if it is purchased for the primary purpose of preventing the spread of COVID-19.
Department of Labor Releases COBRA Subsidy Website and Model Notices
Thursday, April 8, 2021
The Department of Labor (DOL) has released model notices and a COBRA subsidy information website related to the COBRA subsidy that was passed as part of the American Rescue Plan Act or 2021 (ARPA). The website will be the central location that the DOL uses to inform individuals of their potential right to take advantage of the subsidy, and to assist employers with fulfilling their compliance obligations.
Coverage Solutions For Vacant Properties
Wednesday, April 7, 2021
With an increase in the vacancy rate of commercial properties due to the COVID-19 pandemic, owners are at greater risk of suffering uninsured losses.
Small Businesses Can Lower Healthcare Spend with Association Health Plans
Tuesday, April 6, 2021
In Alaska, there are new group association plan options that can benefit small businesses. Association health plans can help lower healthcare costs for smaller companies by providing access to savings associated with large group medical coverage.
Medical Professional Insurance Faces Challenges in 2021
Wednesday, March 17, 2021
2020 was quite a year. The pandemic bared down on healthcare organizations, and many are still squarely in the midst of it.
Significant Employee Benefit Changes Contained in the American Rescue Plan Act (ARPA)
Thursday, March 11, 2021
Congress passed the $1.9 trillion COVID relief bill, the American Rescue Plan Act of 2021 (ARPA). The bill includes significant employee benefits related provisions including a federal subsidy that will cover 100% of the cost of COBRA continuation coverage for up to 6 months for individuals who have had an involuntary termination of employment or reduction in hours. The bill also includes an increase in the amount an employee can elect to contribute tax-free to a §129 Dependent Care Assistance Program (DCAP).
Employee Resiliency and Impacts on Productivity: Why You Should Promote Your Employee Assistance Program
Tuesday, March 2, 2021
Studies show that inspired and engaged employees are 55% more productive, which can mean a great deal to a company struggling during the pandemic.
New DOL Outbreak Period and Extended Time Frames Guidance
Monday, March 1, 2021
The Department of Labor (DOL) has issued new guidance regarding notice and disclosure timeframe relief for employee benefit plans and plan participants due to COVID-19. EBSA Disaster Relief Notice 2021-01 (The Joint Notice) clarifies that the deadline for extended timeframes, such as a COBRA election, are based on each participant’s individual circumstances, rather than on a fixed period applicable to all notices and disclosures. This interpretation will create significant administrative challenges for plan sponsors and administrators.
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