On January 30, 2023, the Biden Administration announced its intent to end the Public Health Emergency and the National Emergency related to the COVID-19 pandemic on May 11, 2023. They are currently set to expire after February 28, 2023 and on April 11, 2023,...

Employers with self-funded health plans ending in 2021 should use the 2nd quarter Form 720 to file and pay the PCORfee by August 1, 2022. The information is reported in Part II.Please note that Form 720 is a tax form (not an informational return form such as Form...

Happy new year! Hoping 2022 will be a wonderful year for all!The new year is the perfect time to remind everyone about updating salaries for your insurance companies. If you provide your staff with life insurance that is tied to annual earnings, if you provide (or...

Employers with self-funded health plans (including HRAs) ending in 2020 should use the 2nd quarter Form 720 to file and pay the PCOR fee by August 2, 2021. The information is reported in Part II. Please note that Form 720 is a tax form (not an informaiton return form...

Good afternoon the IRS has issued guidance (Announcement 2021-7) that indicates personal protective equipment (PPE) that prevents the spread of COVID-19 is eligible as a medical expense under IRC Section 213(d). The guidance confirms that PPE expenses can now be...

Employers sponsoring a group health plan with prescription drug benefits are required to notify their Medicare-eligible participants as to whether the drug coverage provided under the plan is 'creditable' or 'non-creditable'. Creditable means that the insured RX plan...

The PCOR fee filing deadline is July 31, 2019 for all self-funded medical plans and HRAs for plan years ending in 2018.Please note, this is the final filing and payment for some plans. Plans ending in January through September of 2019 will haveone more filing on July...

Independence subscribers will be receiving tax forms to assist them with their 2019 tax year filings. Three separate forms will be either mailed or available online by January 31. Form 1095‑B for proof of minimum essential coverage This form provides verification to...

In a bipartisan effort, the U.S. Congress agreed on a spending package to fund the federal government which included important changes to federal laws affecting employer-sponsored group health and welfare benefit plans. The legislation was signed into law by the...

Employers who sponsor a group health plan with prescription drug benefits are required to notify their Medicare-eligible participants as to whether the drug coverage provided under the plan is 'creditable' or non-creditable'. Virtually all plans that BMC clients have...