August Employee Wellness
Provide your employees with the latest wellness newsletter with this month's edition of Live Well, Work Well.
Also available in Spanish.
Educate employees about their benefits with the Benefits & Me Newsletter.
Pay or Play Affordability Percentage Decreased for 2023
On August 1, 2022, the IRS issued the contribution percentages in 2023 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2023, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does not exceed:
- 9.12% of the employee’s household income for the year
- 8.17% of the employee’s household income for the year for purposes of an individual mandate exemption (adjusted under separate guidance)
Please click here to learn more about these affordability changes.
August Medicare News
Medicare Part D Premiums Will Drop in 2023
The Best Retirement Savings Plan Alternatives for Small Businesses
The Health of Social Security and Medicare
August HR Insights
Draft Forms for 2022 ACA Reporting
Employers Now Required to Justify COVID Testing
How Employers are Responding to Inflation
Introducing Elevance Health
Anthem Inc.'s shareholders recently voted to approve the parent company's name change to Elevance Health, Inc. They chose the name Elevance Health to reflect their business better as they elevate the importance of whole health and advance health beyond healthcare for consumers, customers, their families, and our communities. You can learn more about the name change here.
Their healthcare service affiliates will operate under a new brand called Carelon, and their pharmacy benefit management company will become CarelonRx.
There will be no impact or changes to your plans, coverage, or level of support. Existing Anthem Blue Cross (VA) or Anthem Blue Cross and Blue Shield (NC) branded health plans are not changing and will continue to operate in their current states.
The information herein should not be construed as legal or tax advice in any way. This content is provided for informational purposes only. You should seek the advice of your attorney or tax consultant for additional or specific information.