Blog Entries - October 2014

Carrier Corner TN

Posted on: October 1, 2014 3:00 pm
Tags: October 2014, Benefits connection

Check out what is new with carriers in TN.

read more …

DEA Makes Official Change For Hydrocodone Combination Products

Posted on: October 1, 2014 2:00 pm
Tags: October 2014, Benefits connection

The U.S. Drug Enforcement Administration (DEA) published a Final Rule moving hydrocodone combination products (HCPs), including but not limited to Lortab/Vicodin, Tussionex, Zohydro ER, Norco, Hycodan, Zydone, etc. from Schedule III to Schedule II in the federal register. This rule follows the recommendation by the Assistant Secretary for Health of the U.S. Department of Health and Human Services (HHS) and is supported by the DEA’s own evaluation of clinical data.

read more …

Carrier Corner

Posted on: October 1, 2014 2:00 pm
Tags: October 2014, Benefits connection

Find out what is new with different carriers.

read more …

2015 HSA & HDHP Limits

Posted on: October 1, 2014 2:00 pm
Tags: October 2014, Benefits connection

The IRS has announced the 2015 contribution limits, deductible minimums and out-of-pocket maximums for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs).

read more …

IRS Eases Access To Subsidized Marketplace Plans

Posted on: October 1, 2014 1:50 pm
Tags: October 2014, Benefits connection

The IRS has released new guidance that allows employees participating in non-calendar year group health plans (other than a health Flexible Spending Account) through a cafeteria plan to drop coverage mid-year and enroll in a Health Insurance Marketplace plan during the Marketplace open enrollment period.

read more …

Medicare Part D Notice Due October 15

Posted on: October 1, 2014 1:00 pm
Tags: October 2014, Benefits connection

Employers whose health care plans include prescription drug benefits must notify Medicare-eligible employees by October 15 of each year whether their drug benefit is “creditable coverage,” meaning that it is expected to cover, on average, as much as the standard Medicare Part D prescription drug plan. Medicare Part D, which became effective in 2006, is a federal program to subsidize the cost of private prescription drug plans.

read more …

New Maximum Individual Mandate Penalty

Posted on: October 1, 2014 1:00 pm
Tags: October 2014, Benefits connection

For tax year 2014, the IRS has set the individual mandate penalty at the greater of either $95 per uninsured individual capped at 300% of the flat dollar amount for a family or one percent of income.

read more …

Average ACA Premium Increase Will Be 8.2 Percent in 2015

Posted on: October 1, 2014 1:00 pm
Tags: October 2014, Benefits connection

The Huffington Post reported that according to PricewaterhouseCoopers, which has conducted the most thorough review to date, the average increase for ACA plans “will be 8.2 percent next year in 29 states and the District of Columbia where data about health insurance premiums for 2015 are available.”

read more …

October Is Breast Cancer Awareness Month

Posted on: October 1, 2014 1:00 pm
Tags: October 2014, Benefits connection

Early detection is one of the best defenses against breast cancer. Annual screenings, self-checks, and knowing some of the symptoms can help you stay ahead of breast cancer or catch it early.

read more …