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Tag: Medicare Part D

Reminder: Medicare Part D Notices due by October 15th | JRW Associates, Inc., a Raleigh Benefit Advisory

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Employers who sponsor group health plans that offer prescription drug coverage to Medicare-eligible individuals are reminded that they must provide a Medicare Part D Creditable or Non-Creditable Coverage Notice to those individuals by October 15th. These notices serve to inform Medicare-eligible individuals whether the prescription drug coverage offered is creditable, meaning it is expected to … Continued

MEDICARE PART D ANNUAL NOTICE REMINDER FOR EMPLOYERS | JRW Associates, Inc., a Raleigh Benefit Advisory

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Each year, all employers that offer prescription drug coverage must provide a Medicare Part D notice to all Medicare-eligible individuals—including retirees, active employees, dependents, or COBRA participants—by October 15, the start of Medicare’s open enrollment period. Most employers choose to send this notice to their entire covered population to simplify compliance. This applies to employers … Continued

Compliance Recap March 2025 | JRW Associates, Inc., a Raleigh Benefit Advisory

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ACA REPORTING Affordable Care Act (ACA) reporting for applicable large employers (those with 50 or more employees) was due for the 2024 plan year in March. Reporting to Employees – due March 3, 2025 Form 1095-C: For Applicable Large Employers (ALEs) to report health coverage offered to full-time employees. Form 1095-B: For employers with self-funded … Continued

Compliance Recap Feb. 2025 | JRW Associates, Inc., a Raleigh Benefit Advisory

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RESULTS OF AGENCY ENFORCEMENT OF MHPAEA INVESTIGATIONS The U.S. Departments of Labor (DOL) and Health and Human Services (HHS) recently released their latest enforcement findings on the Mental Health Parity and Addiction Equity Act (MHPAEA), covering investigations completed during the 2023-2024 fiscal year. Their report sheds light on key areas of noncompliance and emphasizes the government’s ongoing … Continued

Compliance Recap Sept. 2024 | JRW Associates, Inc., a Raleigh Benefit Advisory

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SUMMARY ANNUAL REPORT DUE The Summary Annual Report (SAR) is a disclosure requirement under ERISA. The SAR acts as a narrative of the Form 5500 for employee benefit plans. It includes financial statements, funding requirements, and participants’ rights. The SAR must be provided to participants and enrolled beneficiaries within nine months after the end of the plan … Continued

Compliance Recap July 2024 | JRW Associates, Inc., a Raleigh Benefit Advisory

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FORM 5500 FILING FOR HEALTH AND WELFARE PLANS The Form 5500 series is a component of the Employee Retirement Income Security Act’s (ERISA) reporting and disclosure framework. The Form is used to report information on the qualification of the plan, its financial condition, investments, and its operations. It also guarantees that participants, beneficiaries, and regulators have access … Continued

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