Zywave Content
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Benefits Breakdown October 2024
Employers Project 8% Increase in Health Care Costs in 2025 A recent survey of employers by the International Foundation of Employee Benefit Plans (IFEBP) revealed that U.S. employers estimate a median 8% increase in health care costs for 2025. Catastrophic health claims and rising specialty prescription drug prices are driving the projected increase. According to…
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Benefits Breakdown September 2025
Early Preparation Is Crucial for 2025 Open Enrollment With the 2025 open enrollment season around the corner, employers have an opportunity to develop attractive benefits offerings and proactively communicate with employees to win them over. Early preparation can help show employees they are valued, convince top performers seeking job changes to stay in their current…
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Benefits Breakdown July 2024
Report: Health Care Costs Are 254% Higher for Privately Insured Patients Than Those With Medicare A new RAND report revealed that in 2022, private insurers paid hospitals an average of 254% more than what Medicare would have paid for the same services, a jump from 224% in 2020. The study found that 2022 prices for…
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Benefits Buzz May 2024
Prescription Drug Report Is Due by June 1, 2024 Group health plans must annually submit detailed information on prescription drug and health care spending to the federal government. This reporting is referred to as the “prescription drug data collection,” or the “RxDC report.” The next RxDC report is due by Saturday, June 1, 2024, covering…
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Benefits Buzz April 2024
DOL Releases ERISA Enforcement Results for 2023 The U.S. Department of Labor (DOL) has released the results of its Employee Benefits Security Administration’s (EBSA) enforcement actions during fiscal year (FY) 2023. The DOL has broad authority to investigate or audit an employee benefit plan’s compliance with ERISA. EBSA handles audits of employee benefit plans for…
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Benefits Buzz February 2024
ACA Reporting Deadlines Are Approaching Employers subject to Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 or 6056 should prepare to comply with upcoming reporting deadlines. For the 2023 calendar year, covered employers must: Furnish statements to individuals by March 1, 2024 (an alternative method of furnishing statements to covered individuals is…
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Benefits Buzz December 2023
IRS Announces Employee Benefit Plan Limits for 2024 Many employee benefits are subject to annual dollar limits that are updated for inflation before the beginning of each calendar year. Most of these annual dollar limits will increase in 2024. Note that some benefit limits are not adjusted for inflation, such as the contribution limit for…
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Benefits Buzz November 2023
Final Forms and Instructions for 2023 ACA Reporting Released The IRS has released final 2023 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056: 2023 Forms 1094-B and 1095-B (and instructions) will be used by providers of minimum essential coverage, including self-insured plan sponsors that are not applicable large employers (ALEs),…
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Benefits Buzz August 2023
Draft Forms for 2023 ACA Reporting Released The IRS has released draft 2023 forms for reporting under Internal Revenue Code Sections 6055 and 6056. Draft instructions for these forms have not yet been released. 2023 draft Forms 1094-B and 1095-B are drafts of the forms used by providers of minimum essential coverage, including self-insured plan…
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Benefits Breakdown July 2023
Managing Costs Associated With Cell and Gene Therapy Cell and gene therapy (CGT) is a treatment that modifies a patient’s genetic code to treat or cure specific diseases. These treatments have the potential to enhance patient care and outcomes, but they come at a very high cost. While there’s an urgency to bring CGT to…
