Capitol Benefits Group News & Updates
2023 Employee Benefits Market Outlook
Capitol Benefits Group is pleased to present the attached flipbook which identifies market trends to watch in the 2023 employee benefits space. Today’s rising inflation rates and current labor shortages are forcing employers to respond to employee demands and driving up wages. The 2023 Employee Benefits Market Outlook explores themes critical to the employee benefits sector. This comprehensive guide reflects on 2022 market developments and predicts industry trends to watch for in 2023.
To supplement this piece, please feel free to listen to last month’s webinar titled The Emerging Trends Shaping Employee Benefits in 2023. You can register and listen to the playback on-demand here.
Proposed Rule Would Expand Access to Contraceptive Coverage
On Jan. 30, 2023, the Departments of Health and Human Services, Labor and the Treasury released a proposed rule that would expand access to contraceptive coverage without cost sharing. The proposed rule would rescind the existing moral exemption to covering contraceptives but retain the exemption for employers that object to this coverage based on religious beliefs. The proposed rule would also establish a new way for individuals to access contraceptives at no cost from a willing health care provider.
How the End of the COVID-19 Emergency Period Will Impact Health Plans
On Jan. 30, 2023, the White House announced that it plans on ending the COVID-19 public health emergency and national emergency on May 11, 2023. This Health Care Bulletin summarizes how the end of the COVID-19 emergency periods will impact health plans.
DOL Issues Guidance on Telework and FMLA Eligibility
The U.S. Department of Labor (DOL) has published a Field Assistance Bulletin (FAB) that includes guidance on how to apply eligibility rules under the Family and Medical Leave Act (FMLA) when employees telework or work away from an employer’s facility. FABs provide guidance to DOL Wage and Hour Division (WHD) field staff.
Reminder: Medicare Part D Disclosures due by March 1, 2023 for Calendar Year PlanS
Group health plan sponsors are required to complete an online disclosure form with the Centers for Medicare & Medicaid Services (CMS) on an annual basis and at other select times, indicating whether the plan's prescription drug coverage is creditable or non-creditable. This disclosure requirement applies when an employer-sponsored group health plan provides prescription drug coverage to individuals who are eligible for coverage under Medicare Part D.
The plan sponsor must complete the online disclosure within 60 days after the beginning of the plan year. For calendar year health plans, the deadline for the annual online disclosure is March 1, 2023. Employers that are required to report to CMS should work with their advisors to determine whether their prescription drug coverage is creditable or non-creditable.
DOL Issues New Model Employer CHIP Notice
The Department of Labor (DOL) has released a new model Employer CHIP Notice with information current as of Jan. 31, 2023. As a reminder, employers with group health plans that cover participants in states that provide premium assistance subsidies through Medicaid or the Children’s Health Insurance Program (CHIP) are required to notify their employees annually, regardless of the employer’s location.
The content herein is provided for general information purposes only, and does not constitute, legal, tax, or other advice or opinions on any matters. This information has been taken from sources which we believe to be reliable, but there is no guarantee as to its accuracy.