Have a look at some of the top employee benefits stories from this quarter.
HSA/HDHP Limits Will Increase for 2024
On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024
***
End of the COVID-19 Public Health and National Emergencies: What Employers and Plan Sponsors Need to Know
On March 29, 2023, the Departments issued FAQs to address how certain health plan requirements related to the COVID-19 pandemic will change when the emergency periods end.
• Coordinate with carriers/TPAs to understand whether there are any needed amendments to health plan materials related to the end of PHE
• Coordinate with COBRA and other vendors to make sure that proper extension deadlines are applied to impacted individuals for purposes of HIPAA special enrollment and COBRA continuation coverage.
• Communicate coverage changes and the end of extended deadlines for purposes of HIPAA special enrollment, COBRA continuation coverage and claims and appeals procedures to plan participants in advance of the PHE and NHE end.
• While many carriers/TPAs have provided communication changes specifically for coverage changes related to the end of PHE; employers should consider expanding communication to include the nonextended deadlines once the COVID-19 NHE outbreak period ends.
***
2023 Compliance Checklist for Employers With 100 or More Employees
The following checklist is a self-audit compliance guide for various employee benefit plans under ERISA, the Internal Revenue Code, HIPAA, and other applicable statutes. This checklist is intended to help ensure the Company’s “welfare benefit plans” comply with ERISA and certain other statutes
***
