Insights

The WellCents^® Show hosts explore key financial topics, including the election and year-end financial planning.

HHS's Office for Civil Rights (OCR) has recently released its latest cybersecurity newsletter to remind HIPAA-covered entities, which include employer-sponsored health plans, and business associates (collectively, “regulated entities”), that physical security measures such as facility access controls are essential for HIPAA Security Rule compliance. These measures help prevent unauthorized access to electronic protected health information (ePHI) as the incidences of cyberattacks and breaches of

On September 12, 2024, in Amy G. v. United Healthcare, the US District Court of Utah (the court) ruled that the denial of wilderness therapy benefits by defendants United Healthcare and United Behavioral Health (UBH) was arbitrary and capricious because UBH failed to provide a sufficient explanation and analysis for the denial, as required by ERISA. The court remanded the claim back to the defendants for reevaluation and redetermination. In this case, AG, the minor child of plaintiffs Amy and G

On August 20, 2024, the Sixth Circuit ruled in Parker v. Tenneco, Inc., that 401(k) plan provisions mandating individual arbitration are invalid as a prospective waiver of rights and remedies guaranteed under ERISA. Tanika Parker and Andrew Farrier (the plaintiffs) were employees of and participants in 401(k) plans sponsored by subsidiaries of Tenneco Inc. Together, they sued in federal court on behalf of the plans, themselves, and other similarly situated participants through a putative class

All employers with 25 or more employees in New Jersey and have been in business for at least two years are required to sign up for RetireReady NJ — the state’s retirement savings auto-enrollment IRA program. Covered employers who already sponsor qualified retirement programs are exempt but must notify the state of their exemption through the state portal (RetireReady NJ). A qualified retirement program may include a 401(k) or 403(b) plan, a defined benefit plan, or a Simple Employee Pension (SE

Yes, unless it is further extended by Congress. As background, for a participant to be eligible to make or receive tax-favored contributions to an HSA, the participant must be covered under a qualified HDHP and have no impermissible health coverage. In the context of HSA eligibility, impermissible coverage refers to any non-HDHP health coverage that provides “first dollar coverage,” meaning before the statutory minimum HDHP deductible is met. The Consolidated Appropriations Act, 2023 (CAA 2023)

Employers and plan sponsors are tasked with distributing a range of required notices to employees and participants at various points in the employee life cycle.

Life insurance is a cornerstone of financial planning, offering essential protection and peace of mind for you and your loved ones.

In today’s competitive business environment, offering a robust employee benefits package is crucial to attract and retain top talent.