Delaney Insurance Agency, Inc

A cafeteria plan, also known as a section 125 plan, is a written plan that offers employees a choice between receiving their compensation in cash or as part of an employee benefit. If taken as a benefit, the employee generally receives two tax advantages: Employee contributions toward cafeteria-plan benefits are made pre-tax. Employer contributions toward an employee's cafeteria-plan benefits are not taxed.... https://delaneyhealthandbenefits.com//understanding-secti/

With the coronavirus disease 2019 (COVID-19) in the news, there is of course concern not only for personal safety for each other, but there are some regulatory implications as well. Although this is not your typical employee welfare benefit plan topic, we wanted to address how your group health plans and HIPAA Privacy are affected by this public health concern.... https://delaneyhealthandbenefits.com//employer-obligation/

ERISA Plan The Employee Retirement Income Security Act (ERISA) of 1974 establishes minimum standards for retirement, health, and other welfare benefit plans, including life insurance, disability insurance, and apprenticeship plans. ERISA’s extensive rules address the federal income tax effects of transactions associated with employee benefit plans, with mandates that qualified plans must follow to ensure that plan fiduciaries do not misuse plan assets.... https://delaneyhealthandbenefits.com//erisa-employee-reti/

The idea of Marketplace coverage exists because not everyone has employer-cased coverage. The Affordable Care Act (ACA) led to the establishment of the Health Insurance Marketplace. This was to be a place where anyone could buy their own Obamacare health insurance plan. And the tax credits created by the ACA meant that this Obamacare could be an affordable way to get coverage if you did not have another option.... https://delaneyhealthandbenefits.com//the-family-glitch-w/

A major win of the Affordable Care Act was the inclusion of Essential Health Benefits (EHBs) in all ACA-compliant health insurance plans. Most broadly, Essential Health Benefits are a way to describe ten categories of services that these plans must cover. All Marketplace plans (aka Obamacare or ACA plans) cover the Essential Health Benefits. Essential Health Benefit Categories These Ten EHB categories are:... https://delaneyhealthandbenefits.com//10-essential-health/

Special Enrollment Period (SEP) A time outside the yearly Open Enrollment Period when you can sign up for health insurance. You qualify for a Special Enrollment Period if you’ve had certain life events, including losing health coverage, moving, getting married, having a baby, or adopting a child. Depending on your Special Enrollment Period type, you may have 60 days before or 60 days following the event to enroll in a plan. [ 929 more words ] https://delaneyhealthandbenefits.com//group-health-plans-/

Medicare Part D Denise Davis We are well into the month of September, which means that employers are preparing to send employees the Medicare Part D Notice of Creditable Coverage. If you have any type of group health plan, whether it be from an employer, a union, or any other group entity, the notice is sent to advise plan participants as to whether their prescription drug coverage is creditable. [ 447 more words ] https://delaneyhealthandbenefits.com//medicare-part-d-not/

Anti discrimination Denise Davis California’s anti-discrimination laws apply to several categories of employers. Those include: People or businesses that regularly employ five or more persons, People or businesses that act as an agent of a covered employer, and State or local governmental entities. There are important exceptions to each of these categories. For example, California’s ban on harassment applies to employers of any sizeeven those that employ fewer than five people. [ 788 more words ] https://delaneyhealthandbenefits.com//anti-discrimination/

Workplace Discrimination Denise Davis Federal law prohibits covered employers from discriminating in employment based on race, color, religion, sex, national origin, age or disability. Some employers think that once they have made a hiring decision, their responsibilities stop. However, this is not the case. Commonly overlooked provisions include: ADA (American Disabilities Act) accommodations. In addition to not discriminating in hiring, employers have an affirmative obligation to provide workplace accommodations that make it possible for disabled employees to perform the essential functions of their jobs, unless they can show that this will create an undue hardship for the company. [ 354 more words ] https://delaneyhealthandbenefits.com//anti-discrimination/

Medicare Denise Davis Medicare Part D: Creditable Coverage Disclosure NoticesEmployers with group health plans that provide prescription drug coverage to individuals who are eligible for Medicare Part D must comply with certain disclosure requirements.Group health plan sponsors must disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether their prescription drug coverage is at least as good as the Medicare Part D coverage (in other words, whether their prescription drug coverage is creditable). [ 240 more words ] https://delaneyhealthandbenefits.com//medicare-enrollment/

FFCRA Denise Davis Employers are required to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act (FFCRA) on Form W-2, according to guidance from the IRS and the U.S. Treasury Department. The guidance was provided in Notice 2020-54, issued by the agencies on July 8, 2020. Reporting FFCRA Compensation on the W-2 [ 134 more words ] https://delaneyhealthandbenefits.com//irs-employers-must-/

Post-coronavirus Return-to-Work Denise Davis - Alpha Specialty Offering an EAP is just one-way employers can help employees adjust to their new normal of post-pandemic life. In addition to providing support for employees, employers can implement workplace policies and procedures designed to make the post-coronavirus return to work as seamless as possible. As employees return to work, many are experiencing financial hardship, balancing new caregiving responsibilities, managing concerns over their physical well-being, and maintaining their mental well-being and health. [ 584 more words ] https://delaneyhealthandbenefits.com//post-coronavirus-re/

Employee getting health info Denise Davis - Alpha Specialty Plan administrators must furnish plan information to participants and beneficiaries and submit reports to government agencies. Informing Participants and Beneficiaries The following documents must be furnished automatically to participants and beneficiaries. The Summary Plan Description (SPD) the basic descriptive document is a plain language explanation of the plan and must be comprehensive enough to apprise participants of their rights and responsibilities under the plan. [ 512 more words ] https://delaneyhealthandbenefits.com//how-do-employees-ge/

Fiduciary Duty Denise Davis - Alpha Specialty Fiduciaries have important responsibilities and are subject to standards of conduct because they act on behalf of group health plan participants and their beneficiaries. These responsibilities include: Acting solely in the interest of plan participants and their beneficiaries and with the exclusive purpose of providing benefits to them. Carrying out their duties prudently; Following the plan documents (unless inconsistent with ERISA); Holding plan assets (if the plan has any) in trust; and Paying only reasonable plan expenses. [ 486 more words ] https://delaneyhealthandbenefits.com//how-do-fiduciary-re/