Self-Funded Health Care
Self-Funding Alternatives & Cost Containment Strategies We have found that employers in all industries are struggling with the same problem, controlling health care costs! There was a time when self-funding your health care benefits was only for large companies. Those times have changed and given the current economic environment many companies with 50 or more employees End excerpt
Self-Insured Strategies
Self-Funding Alternatives & Cost Containment Strategies in Maryland, Virginia, and Washington, DC. We have found that employers in all industries are struggling with the same problem, controlling health care costs! There was a time when self-funding your health care benefits was only for large companies. Those times have changed, and given the current economic environment, End excerpt
Patient-Centered Outcomes Research Institute (PCORI) Employer Fees Are Due by July 31st
The Affordable Care Act imposes annual fees on employers with self-funded medical plans (including level and graded funded plans) and on fully insured plans with health reimbursement accounts (HRAs). This fee was instituted to help fund the Patient-Centered Outcomes Research Institute (PECORI), which conducts research to compare the effectiveness of various medical services used End excerpt
Coronavirus-related paid leave for workers and tax credits for small and midsize businesses
Source: IRS.com New legislation ensures workers are not forced to choose between paychecks and their health amidst the global pandemic. The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately End excerpt
FMLA Expansion and Emergency Paid Leave
Yesterday, President Trump signed into law the “Families First Coronavirus Response Act”. This new law requires certain employers to provide emergency paid leave under the Federal Family and Medical Leave Act (FMLA) and emergency paid sick leave. The main components of the acts are below: Emergency Family and Medical Leave Act The law takes effect April End excerpt
Form 1095-C or 1095-B Deadline Extended
Updated Deadlines The IRS has issued Notice 2019-63 extending the distribution deadline of Form 1095-B (Health Coverage) and Form 1095-C (Employer-Provided Health Insurance Offer and Coverage) to employees from January 31, 2020 to March 2, 2020. It is important to note that the deadlines are not extended for filing Forms with the IRS. The deadlines End excerpt
Employee Benefits Brokerage
At FosterThomas, we are an employee benefits brokerage in Maryland, Virginia, and Washington, DC, that is committed to understanding and managing your unique employee benefits while being mindful of sustainable cost management for your business. It is our mission that through our employee advisory services and extensive strategic planning and collaboration, you will begin to End excerpt
Employee Benefits Advisory Services
We are committed to understanding and managing your unique employee benefits needs while being mindful of sustainable cost management for your business. Since 1993, FosterThomas has delivered cost-effective and proactive custom employee benefits solutions. We address these through the design and delivery of the perfectly compiled benefits package that will ultimately help you to attract End excerpt
ACA Final Regulations – 2019 Notice of Benefit and Payment Parameters
The following information was provided by our partner Cigna On 4/9/18, the Department of Health and Human Services (HHS) issued final regulations and related guidance on Affordable Care Act (ACA) provisions including Essential Health Benefits (EHBs), out-of-pocket (OOP) maximums, and Marketplace updates and reforms. These regulations, generally effective for plans and plan years beginning on and End excerpt
Comparative Effectiveness Research Fee (CERF) in 2018
The ACA imposes an annual fee called the Comparative Effectiveness Research Fee (CERF) on insurers and plan sponsors of self-insured coverage. 2018 CERF Payments are due on 7/31/18.
