It’s doubtful that many technology companies are concerned about employees nearing age 65. Other employers, however, may want to brush up on Medicare eligibility in order to help older workers understand their options and avoid any potential gap in coverage. Here are just a few Medicare-related concerns: For employees who will lose access to employer-sponsored [...]
It’s a Hot Topic and One We’ll Hear More About in the Months Ahead Whether it’s Medicare at 50, a Buy-In Option or Medicare for All, there is little doubt that the debate on expanding Medicare will be a centerpiece issue as the 2020 primary season intensifies. Prior to the Democratic debates, some of these [...]
The Medicare Prescription Drug Improvement and Modernization Act of 2003 implemented prescription drug coverage under Medicare (Medicare D), requiring all employers that offer prescription drug benefits to provide an annual notice of Medicare open enrollment. The notice must go to all Medicare eligible plan participants and qualified beneficiaries before October 15th each year. The notice [...]
With statistics showing that 10,000 baby boomers will turn 65 each day from now until 2030, the impact on our workforce will be dramatic. When the last of the baby boomers reach age 65 in 2029, nearly 25% of our population will be 65 or older. This is up from about 15% today. While 62% [...]
In a previous newsletter, we discussed bundling introduced by Medicare which focuses on orthopedic and cardiac procedures. Through the mandatory initiative for comprehensive care for joint replacements (CJR), which became policy in 2016, some 800 hospitals are participating in the program. While some sources report the results of bundling as mixed, Medicare reports that joint [...]
The article below is from Employee Benefit News, titled “5 ways Trumpcare is likely to change employee benefits,” by Craig Hasday. Post-election, I have met with dozens of employers and the No. 1 question on their mind is: What will the new administration do to our healthcare strategy and what steps do I take to [...]
As you may recall, with the introduction of Medicare Part D prescription drug benefits, the Centers for Medicare and Medicaid Services (CMS) imposed specific notice requirements on employers. Each year, employers whose healthcare plans include prescription drug benefits are required to notify all Medicare beneficiaries and the CMS of the “creditable” or “non-creditable” coverage status [...]
When it comes to Medicare Part D, we know you have questions. Luckily, Diversified Group has answers! Below are a few of the frequently asked questions we have received regarding Medicare Part D. How Do I Determine if Our Prescription Plan is Credible or Not? Employers are not required to obtain an attestation by a [...]
