With all the news about soaring health care costs, one may be surprised to learn that while insurance premiums and prices for common procedures for insured people continue to increase, cash or negotiated self-pay prices for many procedures vary little from year to year. One source contends employers can use strategies already available to lower their health care costs. New regulations about health reimbursement arrangements (HRAs), as well as the prior set up of qualified small employer health reimbursement arrangements (QSEHRAs), can help meet the need for low-cost health benefit solutions for small employers. This and more in this edition of PLANSPONSOR Weekend.
As medical and pharmaceutical innovations lead to higher catastrophic health insurance claims, employers with self-funded health plans need to review strategies for tackling risk.Read more >
Employers can lower their health benefits spend, as well as costs for employees, by moving away from preferred provider organizations (PPOs), utilizing value-based care and using benefits consultants instead of traditional brokers.Read more >
Experts expect the two news types of health reimbursement accounts created by a trio of federal agencies will be particularly attractive to small business owners and their employees.Read more >
The IRS has issued guidance allowing high-deductible health plans (HDHPs) with health savings accounts (HSAs) to cover specified medications and services used to treat chronic diseases prior to meeting the plan deductible.Read more >
Syed Nishat, with Wall Street Alliance Group, discusses potential effects on retirement plans if President Joe Biden is able to move forward his legislative agenda.
The lawsuit says the target-date funds were selected for the plan despite having no performance history and, when they continued to underperform, they were not replaced with better options.
While not required by ERISA, attorneys say a committee charter is a best practice that can help a plan run more smoothly—and help fiduciaries avoid litigation and penalties.
The Center for Retirement Research says half of American households are at risk of not being able to live at pre-retirement standards of living in retirement.
