Connecticut Democrats and Governor Ned Lamont have both put forth proposals that would levy an annual assessment on the state’s insurance carriers and self-funded plans. The Democratic plan includes a public insurance option for small employers (less than 50 employees) in the state and have recommended levying an assessment on the state’s insurance companies that [...]
On March 30, 2021, the IRS, in its released Announcement 2021-7, notified taxpayers that personal protective equipment (PPE) purchased for the purpose of preventing the spread of COVID-19 are now to be treated as a covered medical care amount under Section 213(d) of the IRS code. This includes masks, hand sanitizer, disposable gloves and sanitizing wipes. [...]
With enrollment in Medicare Part D and specialty drug costs exploding, it’s no surprise that forecasts predict 7 percent annual growth for PBMs over the next several years. Two trends noted in the report were the continued acquisition or startup of PBMs by insurance carriers and the need for employers to better understand their options [...]
When the independent think tank finds that on average, prices paid to hospitals by younger, healthier policyholders were 100 percent higher than what Medicare would have paid for the same procedures, it’s easy to understand the impact that payment contracts based on what Medicare pays can have on health plan costs. In contrast to traditional [...]
In an effort to revive an important promise made to the American people prior to his election in 2016, President Trump recently signed 3 executive orders aimed at bringing the cost of prescription drugs more in line with what consumers in other countries pay. One order, directed at Medicare Part D plans, would require that [...]
On October 29, 2020, the Departments of Health and Human Services (HHS), Treasury, and Labor issued the “transparency in coverage” final rule. This rule imposes new requirements on group health plans to disclose cost-sharing estimates at the request of an enrollee and publicly release negotiated rates for in-network providers, historical out of network allowed amounts [...]
In 2017, according to the Centers for Medicare and Medicaid Services, healthcare spending for every man, woman and child in the U.S. totaled nearly $11,000 – more than any other wealthy country. The interesting thing is that very few of us really know what goes into this number or who pays the bills. Here are [...]
In a recent decision by the U.S. District Court for the District of Columbia, the AHA lost its bid to avoid having to disclose rates hospitals negotiate with insurers. While an appeal is expected, this is a win for the administration, which is committed to providing patients with understandable information about the cost of medical [...]
Inflation-adjusted limits for contributions to health savings accounts and high deductible health plans for the coming year were just announced. According to the announcement, eligible individuals with self-only HDHP coverage will be able to contribute $3,600 to their HSA in 2021, an increase of $50 from 2020. Those with family coverage will be able to [...]
With nearly 40 million workers laid off or furloughed as a result of the Coronavirus, many organizations have urged Congress to expand COBRA coverage. Most of their concerns are focused on encouraging Congress to subsidize COBRA premiums for these workers so that existing health conditions will not get worse because care is delayed. To date, [...]
