Telemedicine is an increasingly popular type of benefit that enables people to use technology-based communication (for example, videoconferencing) to access medical care without being in the same physical space as a healthcare provider. Telemedicine can make healthcare more accessible and affordable for individuals, while improving employee productivity by reducing healthcare-related absences.   However, employers that implement telemedicine benefits should be aware of compliance concerns, including:   the Affordable Care Act’s market reforms;   ERISA’s reporting and disclosure requirements; and   COBRA’s continuation coverage requirements.   Employers can address these compliance concerns by integrating the telemedicine benefit with their group medical plans. Employers that sponsor high-deductible health plans should also consider how a telemedicine benefit may impact employees’ eligibility for health savings account contributions.  Resource...

Telemedicine’s popularity exploded during the COVID-19 pandemic. A few years later, digital health has rapidly matured and telehealth utilization remains above pre-pandemic levels, according to the Assistant Secretary for Planning and Evaluation’s Updated National Survey Trends in Telehealth Utilization and Modality .    The benefits of telecommunication, e.g., convenience and affordability, have caused employers to consider implementing telemedicine plans. Watch the video above to get a quick overview of telemedicine’s benefits. Then, take a deeper dive by reading Benefits Toolkit: Telemedicine , an introductory guide to telemedicine and its growth potential,* and learning about its compliance considerations . Once you’re finished, contact TruePlan to learn how to implement a telemedicine plan into your current employee benefits offerings. We can help you take an individualized approach that best suits your organization and its needs.     *This Benefits ...

The start of quarter one has been advantageous to employers. Read the latest edition of the Attraction & Retention newsletter to gain expert insight on: how the cooling job market could help employers; proactive tips to prevent employee challenges during colder months; and early-career and entry-level programs to consider. You’ll want to download your copy now to stay ahead of workplace trends before quarter 2 begins . For more information regarding the newsletter and our services, don’t hesitate to contact our team of experts today ! We’re here to answer any questions surrounding your employee benefits and retirement plan efforts. This is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice. © 2024 Zywave, Inc. All rights reserved.

The Affordable Care Act created reporting requirements under Internal Revenue Code Sections 6055 and 6056. Under these rules, certain employers must provide information to the IRS about their employees' health plan coverage (or that the organization does not offer health plan coverage). However, things are set to change in the new 2024 ACA reporting requirements. In the original rules, any reporting entity that was required to file at least 250 individual statements under Sections 6055 or 6056 had to file electronically. However, on Feb. 23, 2023, the IRS released a final rule implementing a law change in the Taxpayer First Act of 2019, which lowers the 250-return threshold for mandatory electronic reporting to 10 returns. This means most reporting entities will be required to complete their ACA reporting electronically starting in 2024. This ACA blog describes the process for reporting electronically under Sections 6055 and 6056. Action steps Employers that are subject to the AC...

Picture this: It's a hectic Monday morning. You open your email to find your inbox flooded with urgent employee questions and time-sensitive issues. You try to answer all the requests as quickly as possible. When you’re finally done, the last thing you want to do is read about compliance updates. That’s where HR compliance resources can help. It's already challenging to navigate the complex and ever-changing landscape of laws and regulations — let alone communicate these updates to employees. As a human resources professional, you need more than just expertise; you need the right systems at your disposal to stay ahead. That's where HR compliance resources come in. These tools can help streamline your operations and ensure your organization is making strides to be compliant. These resources can be applied to many HR areas, including your retirement or employee benefits plans. In this article, we'll focus on the four essential retirement and employee benefits resources to...

Did you know that global spending on prescription drugs will reach nearly $1.8 trillion by 2026?  The United States alone will spend up to $715 billion, according to the IQVIA Institute for Human Data Science . Download a helpful infographic that covers the rising cost of prescription drugs. Plus, get six strategies on how you can mitigate the financial burden of these rising costs. As always, if you have any questions, don’t hesitate to contact us today ! Our team of experts can help you navigate employee benefit plans and their associated components.

  Since the Affordable Care Act was enacted in 2010, many reforms have been made to group health plan coverage. To make reviewing ACA group health plan requirements easier, download this ACA 2024 compliance checklist . If you have additional questions, TruePlan’s team of experts is here to assist. Contact us today to get the answers you need or to review your current employee benefits plan .