Insights

To close out the year, the Benefits Compliance team recapped benefits-related legislative, regulatory, and judicial highlights from 2023. They also looked forward to 2024 and any potential guidance that may be on the horizon. Agenda ACA Updates New Mental Health Parity and Addiction Equity Act (MHPAEA) Guidance State Law Trends Surprise Billing and Transparency Other Health and Welfare Compliance Issues Retirement Updates/SECURE Act 2024 Political Landscape

Over the last 30 years, there have been occasional interest rate blips up and down, but nothing has been as dramatic or impactful as the interest rate climate since 2008. Let’s dive into the details of how interest rates have affected BOLI assets.

A risk management issue often overlooked, or not fully understood, is losing a key employee to a competitor that’s offering a better compensation package.

Learn how NFP can help you protect the financial future of your employees – and your business – with an affordable employer-sponsored long-term care insurance program.

On November 15, 2023, CMS released the proposed Notice of Benefit and Payment Parameters Rule for 2025. This notice is issued annually preceding the applicable benefit year and, once final, adopts certain changes. Additionally, CMS issued Premium Adjustment Percentage and related guidance to inform the payment parameters for the 2025 benefit year. While the proposed rule primarily impacts the individual market and the Exchange, CMS’s Premium Adjustment Percentage and related guidance addresses

While HSAs have grown in notoriety over time, their benefits are still underutilized by many Americans who have them.

On November 9, 2023, the IRS issued Revenue Procedure 2023-34, providing certain cost-of-living adjustments for a wide variety of tax-related items, including health FSA contribution limits, transportation and parking benefits, qualified small employer health reimbursement arrangements (QSEHRAs), the small business tax credit, and other adjustments for tax year 2024. Those changes are outlined below. Health FSA. The annual limit on employee contributions to a health FSA will be $3,200 for plan

On November 27, 2023, the IRS issued Long-Term, Part-Time Employee Rules for Cash or Deferred Arrangements Under Section 401(k). As a reminder, the Setting Every Community Up for Retirement Enhancement (SECURE) Act required employers to deem part-time employees eligible for the 401(k) plan once they had completed three consecutive 12-month periods with 500 hours of service or more. The SECURE 2.0 Act followed that up by reducing the number of consecutive periods to two consecutive 12-month peri

On November 28, 2023, the DOL, HHS, and Treasury (the departments) issued guidance in the form of FAQs entitled ACA and CAA, 2021 Implementation Part 63. One FAQ announced an update to the ACA requirement to provide certain notices in a culturally and linguistically appropriate manner. Two FAQs address if and when multiple claims for qualified federal independent dispute resolution (IDR) items and services may be submitted and considered jointly as part of one payment determination by a certifi