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.
Transparency in Coverage Rules - Machine Readable Files
Transparency in Coverage rules require health insurance carriers and health plans to publicly publish large amounts of healthcare data using a Machine-Readable File (MRF) format. This format permits anyone in the U.S. with a “machine” (computer) to read the files without requiring special software, formatting, passwords, or other identifying information. The purpose is twofold:
- To provide historical cost data on in-network and out-of-network care to consumers and;
- To allow researchers, regulators, data aggregators, and IT specialists to analyze this information and even create apps that allow consumers to understand their healthcare costs.
The responsibility for posting and maintaining the files may differ among fully insured and self-insured plans. Please click here to learn more!
PCORI Fees Due August 1, 2022
The ACA imposes a fee on employers with a Health Reimbursement Arrangement (HRA) or a self-insured plan in order to fund the Patient-Centered Outcomes Research Institute. For plan years ending in 2021, the PCORI fees are due by August 1, 2022.
Our Senior Vice President of Compliance, Corbin Granger, recently hosted a webinar regarding PCORI Fees, completing Form 720, how to calculate the average number of lives and more. Click here if you missed it! Click here for a PDF version of the presentation.
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.