Medicare Creditable Coverage Disclosure Due to CMS by March 1, 2024

The Medicare Modernization Act (MMA) established annual notification requirements for employer-sponsored group health plans with prescription drug coverage. Per the MMA, employers sponsoring these plans are required to disclose annually the creditable status of the plan to The Centers for Medicare and Medicaid Services (CMS). This disclosure is due to CMS no later than 60 […]

7 Low-Cost Initiatives Employers Can Incorporate in Their D&I Programs Now

Countless studies show that employers who focus on diversity and inclusion policies and practices help increase employee engagement and boost overall happiness in the workplace, thus improving retention. Research shows that companies with diverse, inclusive teams generate 19% more revenue and perform 35% better than their industry average. While integrating diversity, equity, and inclusion (DEI) […]

Are You Leveraging Population Health Management Correctly to Mitigate Claims Risk?

While all health plans face the possibility of higher claims, properly managing your employee’s risk pool and population health can help mitigate claims risk and reduce costs in your plan. Population health management identifies, evaluates, and manages the risks facing an organization and its plan participants. While employers cannot prevent every claim before it occurs, […]

Four Steps to Create a Stable Renewal Environment

Large renewal rate increases frustrate employers and plan sponsors each year. They might experience significant, double-digit rate hikes one year; a smaller uptick the second; and another large increase the third year. Owners, CFOs, and HR executives would prefer stable, predictable trends so they can better budget for future costs. Too often, companies send out […]

How to Reset & Reflect After Benefits Renewal Season

The hectic benefits renewal season is finally winding down for many employers, with open enrollment meetings and all the logistical challenges and decisions behind us for 2021.  We’re ready to relax and move on to new challenges during the new year. But wait a second: maybe we shouldn’t put renewal season out of our minds quite […]

Government Distribution of Free at-home COVID-19 tests

Starting January 19th, 2022, Americans will be able to order a test online at COVIDTests.gov. To ensure broad access, the program will limit the number of tests sent to each residential address to four tests. Tests will usually ship within 7-12 days of ordering. To help distribute the message to your employees, Innovative has created […]

End of Year Employee Benefits Compliance Checklist

From ACA reporting to new federal regulations, employers are faced with several obligations as they close out the year and begin to plan for 2022. To help comply with your obligations, we have complied a list of important items that apply to employer-sponsored group health plans to either review and/or take action. Prepare and Submit […]

How to Reset and Reflect After Benefits Renewal Season

The hectic benefits renewal season is finally winding down for many employers, with open enrollment meetings and all the logistical challenges and decisions behind us for 2021.  We’re ready to relax, enjoy the holiday season, and move on to new challenges during the new year. But wait a second: maybe we shouldn’t put renewal season out […]

How We Resolved One Client’s Self-Funding Worries Through Proprietary Confidence Projection

Client Industry: Technology Number of Employees: 240 Service Provided: Statistical risk analysis and probability projections. Challenges Our client had considered transitioning from fully insured to self-funding for several years. Although we projected the change would bring considerable savings, they remained concerned by the risk that the model might not perform as expected. The company favored […]

IRS Issues 2022 FSA and Commuter Limits

The IRS has announced the 2022 max contribution limits for FSA and Commuter accounts [Revenue Procedure 2021-45]. All FSA and Commuter plans (for the 2022 plan year) will be updated with the 2022 contribution limits. If you have any questions, please contact your account team or email us at icomply@ibpllc.com.   This Compliance communication is […]

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