McDermott Will & Emery Employee Benefits

MAY 15, 2024

The Centers for Medicare & Medicaid Services (CMS) announced in March that it would allow health plans under Medicare Part D (the Medicare prescription drug benefit) to cover Wegovy and other weight-loss medications if they receive Food and Drug Administration (FDA) approval for an additional medically accepted indication.

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Medical Food Employee Benefits Health and Welfare 104

McDermott Will & Emery Employee Benefits

JUNE 18, 2024

The shift to self-funding, the article explains, is grounded in the Employee Retirement Income Security (ERISA), which exempts self-funded plans from state […] The post Group Medical Captives, Level Funding and US Healthcare Policy appeared first on EMPLOYEE BENEFITS BLOG.

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Medical Healthcare Insurance Employee Benefits 98

Employee Benefits

MARCH 5, 2024

Employee Benefits poll: More than one-third (39%) of organisations said that private medical and dental insurance is the most popular form of employee financial support that they offer, according to a survey of Employee Benefits readers.

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Medical Insurance Pension Finance 105

McDermott Will & Emery Employee Benefits

JANUARY 9, 2024

The Protect Illinoisans from Unfair Medical Debt bill will require Illinois hospitals to take a much more active role in limiting consumers’ medical debt. The bill puts into place four primary requirements designed to reduce the medical debt burden of individuals receiving care.

Hospitality 104

Hospitality Medical Employee Benefits Health and Welfare 104

Money Talk

DECEMBER 16, 2021

This includes expenses for health insurance as well as deductibles, copayments, and coinsurance when medical bills occur. Hospitals often charge higher prices than free-standing radiology providers and other medical service providers. Focus on Prevention- Practice good health habits that reduce the risk of costly medical problems.

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Medical Health Insurance Hospitality Insurance 231

Employee Benefits

NOVEMBER 13, 2023

To keep employees safe while they are away, the organisation has partnered with medical, travel and security company International SOS. Employees can get immediate help and advice from security and medical experts either by chat on the app or through the dedicated helpline,” says Cosby. Once overseas, the app remains a valuable tool.

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Medical Employee Benefits Employment IT 105

PayrollOrg

FEBRUARY 2, 2024

The governors from nine states wrote a letter to the IRS Commissioner asking for guidance regarding the federal tax treatment of premiums and benefits under state paid family and medical leave programs.

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Medical Taxes 104

McDermott Will & Emery Employee Benefits

JUNE 27, 2024

A question in response to last week’s post on self-funding of employer group health plans assumed that stop-loss coverage under a level-funded plan could be provided under a group captive medical captive. However, it cannot (at least not without first obtaining a prohibited transaction exemption from the US Department of Labor (DOL)).

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Medical Employee Benefits Employment Health and Welfare 92

Attorney Charlie Hall

SEPTEMBER 25, 2021

There are no known cures, but medications, lifestyle changes, and therapies offer relief. 74% of fibromyalgia patients spend more than $100 per month on OTC medications. 74% of fibromyalgia patients spend more than $100 per month on OTC medications. You are unable to adjust to other work because of your medical condition.

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Medical Disability Insurance Government Insurance 243

Attorney Charlie Hall

AUGUST 15, 2021

Disability is defined as the inability to engage in any Substantial Gainful Activity (SGA) by reason of any medically determinable physical or mental impairment(s) which is expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. It employs more than 60,000 individuals.

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Medical Consulting Disability Insurance Government 228

Money Talk

SEPTEMBER 1, 2021

Below are 10 potential expenses for people who remain unvaccinated without a solid medical or other legal reason to do so. Cases have been reported of families swamped by medical expenses , getting hit with balance billing statements despite Congressional bans, and declaring bankruptcy to escape mounting medical expenses.

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Hospitality Health Insurance Medical Life Insurance 225

Employee Benefit News

SEPTEMBER 26, 2024

FSA, HRA and HSA plan administrators must beware of companies that are misrepresenting which food and wellness expenses can be reimbursed.

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Medical Food Employee Benefits Healthcare 105

Employee Benefit News

DECEMBER 27, 2023

When pharmacists can collaborate with a patient's care team, health outcomes will improve while money and lives are saved.

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Medical Management Healthcare 104

Money Talk

MARCH 24, 2022

Five major “large loss” risks for older women are the death of a spouse (resulting in reduced income or benefits), damage to (or destruction of) a home, liability claims due to court judgements, large medical expenses, and high long-term care expenses (e.g., assisted living and nursing home costs).

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401(k) Finance Entertainment Taxes 278

Money Talk

MARCH 4, 2022

Medical Expense Tax Deduction- This itemized deduction can be taken at any age, but may be more valuable to older adults with increased medical expenses in later life. Qualified unreimbursed medical expenses that exceed 7.5% of AGI can be deducted on Schedule A.

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Taxes 401(k) Deductions Deductible 245

Employee Benefit News

APRIL 18, 2024

40% of Americans suffer from GI conditions. A reassessment of treatment can help improve their quality of life.

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Medical Employment Employee Benefits Healthcare 93

Money Talk

OCTOBER 19, 2023

Below are nine of my key take-aways from information that was provided about living well in later life and not running out of money during your lifetime: Medical Advances - Many of the leading causes of death today may no longer be as prevalent in another one or two decades due to medical research advances.

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401(k) Finance Medical Deductions 215

Best Money Moves

SEPTEMBER 25, 2024

Even with insurance, many employees struggle with medical debt Despite having employer-sponsored health insurance, research has shown that many employees struggle to access healthcare. Over time, unpaid medical bills can lead to medical debt. This can help employees track, manage and predict their medical expenses and much more.

Healthcare 105

Healthcare Health Insurance Medical Insurance 105

Money Talk

AUGUST 22, 2024

Recent medical bills, and 7. Everybody else (credit cards, old medical debt, loans, etc.). Every state has a law that states “here’s who gets paid first” (e.g., Attorney, 2. Payor of funeral expenses, 3. Executor, 4. Medicaid, 6. Scams- Experts estimate that only 15% of scams are actually reported.

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Financial Counseling Finance Medical Education 183

Money Talk

MARCH 7, 2024

roof, furnace) ¨ Large out-of-pocket medical or dental bills ¨ Loss of a job ¨ property damage due to natural disasters ¨ Reduced income (e.g., Examples of financial shocks are plentiful and include the following: ¨ Big spikes in expenses due to inflation (e.g.,

Life Insurance 157

Life Insurance Government Medical Food 157

Money Talk

DECEMBER 8, 2021

For example, medical bills and/or property damage resulting from an accident or replacing decades of lost wages for a seriously injured high earner.

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Insurance IT Medical Salary 277

Money Talk

APRIL 14, 2022

Absent catastrophic medical bills or a natural disaster declared by the U.S. Charitable Gifts- Nobody wants to have large medical bills or property losses, income and property taxes are SALT capped at $10,000, and it takes a pricey house with a large mortgage to exceed the standard deduct with deductible interest.

Taxes 189

Taxes Family and Medical Leave Act 401(k) Deductions 189

Florida Workers' Comp

MAY 15, 2022

Francesca Beaudoin, a medical doctor with Brown School of Public Health presented an overview of symptoms and challenges that are alleged to be COVID related. Patients often present with complaints of pains and discomforts that are perceived as discordant with other medical signs and symptoms, exaggerated, or otherwise questionable.

Workers’ Compensation 151

Workers’ Compensation Medical Human Resources Government 151

WEX Inc.

OCTOBER 2, 2024

Keep these factors in mind: Medical needs: Estimate your medical needs for the coming year. Do you anticipate regular doctor visits, ongoing prescriptions, or any planned medical procedures. Limited FSA as a savings account: Limited FSAs can also be used as a savings account for anticipated medical expenses.

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Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 98

WEX Inc.

AUGUST 29, 2024

And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexible spending account (FSA) funds? These benefits are designed to help people who are facing difficulties conceiving naturally and require medical assistance to achieve pregnancy.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Achievers

FEBRUARY 2, 2021

Federal and state mandated benefits include health insurance, worker’s compensation, unemployment insurance, and required leave time for caring for family and/or personal medical purposes. Health insurance, and family and medical leave, are not required for all businesses. What are benefits that are voluntary?

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Employee Benefits Family and Medical Leave Act Employee Recognition Voluntary Benefits 237

McDermott Will & Emery Employee Benefits

MARCH 26, 2024

14 (SB 14), which prohibits physicians and other licensed medical professionals from providing gender-affirming medical care to minors. In May 2023, the Texas Legislature passed Senate Bill No. The bill faced numerous legal challenges but ultimately went into effect on September 1, 2023.

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Medical Employee Benefits Health and Welfare 104

Money Talk

JUNE 8, 2022

Typically, this is done by combining one or more of the following: large qualified, unreimbursed medical expenses, state and local taxes up to the $10,000 SALT cap, mortgage interest, and sizable charitable donations. If you plan to “bunch,” check your withholding with the IRS calculator noted above.

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Taxes Pension Deductions Deductible 278

PeopleKeep

JULY 22, 2024

However, soaring medical costs can make offering health benefits challenging for small business owners with limited budgets. With a QSEHRA, small employers can reimburse employees tax-free for qualifying medical expenses, including individual insurance premiums.

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Benefits Package Medical Taxes Insurance 105

PeopleKeep

JULY 10, 2024

Although Millennials and Gen Zers don’t use a lot of medical care compared to older generations, they want more flexible and alternative healthcare services available—like telemedicine and holistic medicines —instead of traditional options. According to our 2024 Employee Benefits Survey , 92% of employees say health benefits are important.

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Health Insurance Insurance Healthcare Medical 105

WEX Inc.

SEPTEMBER 19, 2024

However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. Let’s explore a few common vision-related questions as it relates to your HSA or medical FSA. Can vision expenses be covered by HSAs and FSAs?

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Health Flexible Spending Account Health Savings Account Flexible Spending 98

Money Talk

JANUARY 4, 2023

Medical debt in collections that was subsequently repaid was removed from credit reports and Equifax reported a three-week credit scoring glitch. The IRS also issued new guidance for some inherited IRAs.

Finance 245

Finance Banking Taxes Food 245

Money Talk

OCTOBER 13, 2022

Consider the following ideas for nine spending categories from The Smart Senior’s Financial Answer Book and other sources: Prescription Drug Discount Cards - Recent research studies found that the cost of medications has risen faster than the rate of inflation and that 1 in 4 adults find it difficult to pay for their medication.

Food 189

Food Entertainment Finance Electronics 189

Florida Workers' Comp

AUGUST 27, 2024

NBC News recently reported on the results of a study published in the Journal of the American Medical Association (JAMA). Either some folks have a different definition of "harmless" or these medical experts disagree with that label. I am also continuously reminded of the battle cry that dope is "legal." more on that in a future post.

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Medical IT 195

Money Talk

JANUARY 19, 2022

These plans allow workers to contribute pre-tax income annually for out-of-pocket medical expenses and child/elder care. Many people had elective medical procedures canceled in 2021 or their child care needs changed. Check Your FSA - Learn the rules for your flexible spending account (FSA).

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Flexible Spending Account Taxes Pension Deductions 188

Money Talk

AUGUST 18, 2022

Family Leave - The Family and Medical Leave Act requires employers with 50 or more workers to provide up to 12 weeks of unpaid leave. Unpaid Leave- Workers may be able to negotiate time off without pay for reasons unrelated to family and medical leave. Some employers also purposely shut down their operations for week or two (e.g.,

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Family and Medical Leave Act Employee Benefits Paid Vacation Paid Sick Leave 186