Pill Pack – Helping Employees Manage Medications
Taking multiple medications? Having trouble remembering what and when you took those medications? Looking for a simple solution? Statistics show 40M American adults take more than 5 prescriptions every day, but 50% don’t take their meds as prescribed. PillPack is a service that can help. No need to sort medications, wait in line at the […]
“Cadillac Tax” and Health Insurance Industry Fee Delayed in Spending Bill
A major victory in the continuing resolution that is keeping the federal government funded. The package included an additional two-year delay of the Cadillac Tax on employer-sponsored health insurance plans until 2022 and a moratorium in 2019 of the Health Insurance Tax on all plans. Previously suspended for 2016 and 2017, the 2.3% excise tax […]
IRS will NOT accept 1040 without ACA Health Coverage Reporting
Employee Benefit Advisors recommends companies inform employees of the following. – The original announcement came out in October 2017, however EBA thought it would be a good reminder to post at this time. Reminder: The new tax law does not actually repeal the individual mandate. It eliminates the penalty (penalty is zero) starting in 2019, […]
IRS Guidelines – Indexed for 2018
FICA Social Security Tax is 6.2% on income up to $128,400 up from $ 127,200 Medicare Tax unlimited 1.45% to Unlimited High Deductible Health Plans Minimum Annual Deductible (Individual/Family) $1,350 / $2,700 Maximum Out-of-Pocket Limit (Individual/Family) $6,650 / $13,300 Health Savings Accounts Individual / Family $3,450 / $6,900 IRS announced change to $6,850 March 5, […]
Obamacare Driving New Wave of Hospital Bankruptcies
Health-care bankruptcy filings have more than tripled this year according to Bloomberg, and an index of Chapter 11 filings has reached record highs (industry companies with more than $1 million of assets). It’s expected that for 2018 the trend will increase; hospitals and other medical companies are likely to restructure their debt or file for […]
Pharmacogenetics
Pharmacogenetics allows prescribers and pharmacists to understand how medications react differently in the body based on an individual’s metabolism. Best Practice PBMs are able to apply the results of a fast and easy-to-administer pharmacogenetics test to enhance member safety, improve treatment outcomes and prevent wasteful drug spending. The science of pharmacogenetics utilizes precision medicine, which […]
PBM – Looking for transparency?
Are you contracting with a large PBM because they offer great discount? You might want to rethink your strategy and look to smaller PBMs with complete transparency. Perhaps it’s time to consider a pharmacy benefits administrator that offers the following: A straight forward pricing model with no hidden revenue generators such as spread pricing. Look […]
Knock Out Blow? – Trump Ends Cost-Sharing Reduction Subsidies
The White House confirmed Thursday that it will stop making federal payments for cost-sharing reductions, payments to health insurers. The Department of Health and Human Services confirmed that the cutoff would be immediate. This action could throw the Marketplace into immediate turmoil as insurers start to evaluate their options for 2018. Many, certainly democrats, have […]
Trump’s Executive Order – What it is & What happens next
President Trump signed an executive order in an attempt to improve access, increase choices and lower costs for healthcare. What Is in the EO? The EO directs the secretary of Labor to consider proposing regulations or revising guidance to expand Association Health Plans. The intent of this directive is to allow employers in the same […]
What is Reference Based Pricing?
With RBP plans are designed to negotiate treatments with high-quality providers at reduced costs and can work in different ways, depending on the insurance carrier or TPA. – Sound like a PPO or HMO? Not quite. RBP can have no network restriction, a network and use a network within a network. Call it Creative Networking […]