Posted on January 11, 2021
The Department of Financial Services (DFS) set the NY PFL rate and benefit amounts for 2021 as follows: The maximum contribution rate for PFL will be 0.511% of the employee’s gross annualized wages capped at the New York State Average Weekly Wage (NYSAWW) of $1,450.17 per week. This means the 2021 maximum annual contribution per employee for PFL is… Read More
Posted on October 1, 2020
A Medicare Part D plan provides prescription drug coverage under Medicare. The Medicare Part D notice, required by the Medicare Modernization Act (MMA) at least once a year, provides information to individuals enrolled in Medicare about whether employer-provided prescription drug coverage is creditable and the consequences of failing to enroll in a Medicare Part D… Read More
Posted on September 22, 2020
See below from Horizon’s Brief Notes regarding the upcoming Creditable Coverage Notice Deadline – October 15, 2020 Applies to: All markets Creditable Coverage Notice Reminder Health plan sponsors (employer groups) that offer prescription drug coverage to Medicare-eligible employees and their dependents are required to notify those employees and dependents whether their coverage is creditable or… Read More
Posted on June 29, 2020
PGP will be sponsoring an online, self-study, self proctored New Jersey 24-credit CE class. Sign up for this self-study course then take your test online to fulfill your Continuing Education requirement. Test Date: Now through June 30, 2020 Course Registration: Sign up for your self-study course at https://www.webce.com/PGPBENEFITS Click on the Green “Life/Health” button on… Read More
Posted on June 17, 2020
As per our legal team, premium credits provided by the carriers due to COVID-19, must be treated in the same fashion as a MLR Rebate.This means the medical and dental premium credit in response to COVID-19 MUST be shared with participating employees in the same manner in which the employer shares the cost of the… Read More
Below is a summary of PCORI fee requirements so you can advise your clients about this upcoming compliance deadline. What is the PCORI Fee? The Affordable Care Act (ACA) created the Patient-Centered Outcomes Research Institute to study clinical effectiveness and health outcomes. To finance the nonprofit institute’s work, a small annual fee is charged on… Read More
Posted on May 15, 2020
We previously communicated information regarding the new rule in response to COVID-19 that extends most COBRA deadlines to beyond the “Outbreak Period,” which it defines as March 1, 2020, to 60 days after the end of the declared COVID-19 national emergency. Additional guidance has been released clarifying the Key COBRA deadlines extended as follows: The… Read More
Posted on May 7, 2020
Effective immediately terminated workers have been given more time to elect COBRA coverage and pay premiums through a new final rule Extension of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak released by the DOL and IRS on May 4, 2020. The rule extends most COBRA deadlines to beyond the… Read More
Posted on April 18, 2020
New York State Emergency Regulation 62 Notice Requirement for Producers – You MUST Notify Policyholders of Premium Grace Period Extensions See below release from NYAHU outlining this requirement and to download a sample notification. Pursuant to Governor Andrew Cuomo’s Executive Order 202.14, on April 7, 2020 the Department of Financial Services issued Emergency Regulation 62,… Read More
Posted on April 10, 2020
See below from NJAHU Governor Murphy announced an executive order late yesterday afternoon that provides 60-day grace periods for both health and dental insurance payments. Claims must be paid during this time period and insurers cannot demand repayment of unpaid premiums in a lump sum at the end of the grace period. Unpaid premiums must be… Read More