Archive for the ‘BAS Weekly Newsletters’ Category
Question of the Week
Q.- I am working for a company that established business on February 2, 2012. The company has 50 employees. If I am terminated from group health plan coverage in December, will I be offered the right to continue my coverage under COBRA?
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Privacy Best Practices
BAS remains vigilant about keeping client data private and secure. Toward that end, BAS practices several best-practices to ensure that communications are made only to intended recipients.
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Self-Billing Capabilities
BAS’ insurance “Self-Billing” service makes it easy for employers to pay their group life, short-term disability, and long-term disability premiums to their carriers. The Self-Billing service consolidates all covered employees into coverage-specific reports that meet each insurer’s specific reporting requirements.
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Additional Guidance on the New Summary of Benefits and Coverage (SBC)
The Employee Benefits Security Administration issued additional guidance on the new Summary of Benefits and Coverage (SBC) that must be distributed beginning September 2012 in accordance with the Affordable Care Act. The SBC is intended to enable consumers to easily understand their health coverage and determine the best health insurance options for themselves and their families.
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Limits on HDHP/HSA Plan Structures
The IRS announced new inflation-adjusted Health Savings Account (HSA) contribution limits and High Deductible Health Plan (HDHP) limits for 2013. Employers offering HSAs and HDHPs should make sure that plans and systems account for the new limits.
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Smart Password Protection
Users of MyEnroll.com must be vigilant about online security. Passwords should be kept confidential and not shared with others, even administrators in the same organization.
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Medicare Part D Creditable Coverage Values Increased for 2013
Employers sponsoring group health plans that offer prescription drug coverage to individuals eligible for Medicare Part D (generally those age 65 and older, including active employees, retirees, COBRA participants, and dependents) must disclose to those individuals whether the group health plan coverage is creditable or non-crediable. CMS updated the parameters for determining if coverage is creditable or non-creditable.
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Regulations Require Unique Health Plan Identification Number
The Department of Health and Human Services issued a proposed rule under health care reform that, if finalized, would require health plans to maintain a unique health plan identifier number (HPID). The HPID is intended to reduce plan administrative issues by making it easier to identify the parties involved in electronic health plan transactions.
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Question of the Week
Q.- My doctor suggested that I get a massage to help my lower back pain. Can I get reimbursed from my health FSA for the cost of the massage?
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ACH Authorization for FSA Reimbursements
Employees can quickly and easily set up direct deposit ACH authorization for flexible spending accounts through MyEnroll.com. Direct Deposit is available for FSA participation regardless of whether an employer authorizes direct deposit for payroll purposes.
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