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Transparency Rules Require Plan Sponsors to Act Now Before July 1 Deadline | VA Benefits Advisors

The Departments of Health and Human Services, Labor, and Treasury (the Departments) released Transparency in Coverage (TiC) rules in late 2020 that will require fully insured and self-funded plan sponsors of non-grandfathered group health plans to make important disclosures about in-network and out-of-network rates beginning July 1, 2022. To be ready to meet that deadline, … Continued

Understanding Your EOB | Virginia Benefits Team

Let’s say that you visited the doctor and you are wondering how much that visit is going to cost.  A short while later, you receive something in the mail that looks like a bill – and even says “amount you owe” at the bottom.  However, it doesn’t have a return envelope or tear-off portion for … Continued

The Affordability Test for 2022 Health Plans | VA Employee Benefits Consultants

The Affordable Care Act’s employer shared responsibility provision — often called the employer mandate or “play or pay” — requires large employers to offer health coverage to their full-time employees or face a potential penalty. (Employers with fewer than 50 full-time and full-time-equivalent employees are exempt.) Large employers can avoid the risk of any play … Continued

Haven Healthcare – An Employee Benefit Advisor’s Perspective

by Bill Kite, Owner, D&S Agency We were excited when we first heard of the joint venture of Amazon, JP Morgan and Berkshire Hathaway with their combined employee population of 1.2 million to “disrupt” healthcare costs. That excitement was further enhanced knowing leaders such as Dimon, Buffett and Bezos, with their midas touch, could potentially … Continued

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