Category: Blog

Mar
15
2021

Group Health Plans Must Cover COVID-19 Testing for Asymptomatic People

by CoreMark | posted in Blog, Newsletter

The Centers for Medicare and Medicaid Services announced in late February that private group health plans cannot deny coverage or impose cost-sharing for COVID-19 testing, regardless of whether or not the patient is experiencing symptoms or has been exposed to someone with the disease. The CMS said it had issued the new guidance to make it easier for people to get tested with no out-of-pocket costs if they are planning to visit family members or take a flight, for example. Up until now, some health plans have not covered testing if a person is not experiencing symptoms or has not…
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Mar
12
2021

IRS Lets Employers Give Workers a Break on FSA Contributions, Health Plan Rules

by CoreMark | posted in Blog, Newsletter

A number of changes in recent months have given employees extra benefits and flexibility when it comes to utilizing Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs). The newly signed American Rescue Plan Act of 2021 raised FSA contribution limits and the COVID relief bill signed in late 2020 gave employees additional flexibility in the use of funds and making election changes. The IRS recently released additional guidance, in response to the COVID-19 pandemic, that allows employees to make changes to their health plans outside of the traditional open enrollment period. The COVID relief bill signed into law at…
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Mar
12
2021

Insurers Expected COVID-19 Workers’ Comp Surge; It Never Came

by CoreMark | posted in Blog, Newsletter

The number of COVID-19 workers’ compensation claims submit to carriers has not been as widespread as insurers and ratings agencies around the country had predicted when the pandemic first started in early 2020. On top of that, a large chunk of COVID-19 workers’ compensation claims filed by workers nationwide have been rejected, with insurers often citing lack of proof that the illness was contracted in the workplace. These two factors have lead to a much lower surge of claim payouts than expected. The insurance industry was bracing for a deluge of workers’ comp claims when the seriousness of the pandemic…
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Mar
12
2021

Employment-Related Lawsuits Explode during Pandemic

by CoreMark | posted in Blog, Newsletter

As the number of COVID-19 cases continues to grow, so does the number of employment-related lawsuits filed by workers across the country against their employers. The pandemic laid the groundwork for new local, state and federal laws and regulations governing a number of workplace issues like workplace safety, family and medical leave and remote work. And it created new challenges for employers who were forced to close operations, lay off and furlough workers and organize new work arrangements. Most common employment-related lawsuits The surge resulted in a record number of COVID-19-related class-action lawsuits, the majority of them concerning disputes over:…
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Feb
24
2021

How a New Law Affects Group Health Plans & Cost Transparency

by CoreMark | posted in Blog, Newsletter

The newly enacted Consolidated Appropriations Act, 2021 contains a number of provisions that will affect group health plans, with most changes aimed at helping insured workers with flexible spending accounts (FSAs), cost transparency and surprise billing. Some of the provisions are permanent while others are temporary, slated to run through the anticipated end of the COVID-19 pandemic. Highlights of The Consolidated Appropriations Act FSA carryover rules loosened The new law authorizes employers to amend their cafeteria plans and FSAs to either: Allow participating staff to carry over unused amounts from the 2020 plan year to the 2021 plan year (and…
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Feb
24
2021

Leveraging HSAs to Help Your Staff Manage Health Care Costs

by CoreMark | posted in Blog, Newsletter

With the COVID-19 pandemic weighing on employers and employees alike, businesses can help their staff by leveraging health savings accounts to pay for out-of-pocket expenses. With increased flexibility from recent changes, more employees may see benefit from using an HSA. In 2020 congress untethered HSAs and flexible spending accounts by changing the rules that prohibited account holders from using the funds in their accounts for over-the-counter medicines and other non-prescription health products and services. That change, which is permanent, was done through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. HSAs are a great option to help employees save…
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Feb
24
2021

Commissioner Rejects COVID-19 Workers’ Comp Surcharge

by CoreMark | posted in Blog, Newsletter

When California’s insurance commissioner in December ordered that the workers’ compensation benchmark rate for this year be cut 4.6% on average, he also rejected a recommendation that all policies be subject to a COVID-19 workers comp surcharge. When the Workers’ Compensation Insurance Rating Bureau made its rate filing for 2021, it also recommended that all policies in the state be subject to a COVID-19 workers comp surcharge that ranged from 1 cent per $100 of payroll for the least risky professions to 26 cents per $100 of payroll for the riskiest (such as health care workers). The Rating Bureau had…
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Feb
24
2021

Why Every Business Needs Non-Owned Auto Coverage

by CoreMark | posted in Blog, Newsletter

Even businesses that own fleets of autos sometimes use vehicles that do not belong to them. Often, a business asks an employee to run an errand or visit a customer or vendor using that employee’s car. The organization may become legally liable for anything an employee acting on its behalf does while behind the wheel. Lawsuits and accompanying legal costs may confront the business if they have an accident. Many business automobile insurance policies cover this situation, but they do not do so automatically. This is why non-owned auto coverage is crucial. What Is Covered? The standard Insurance Services Office Business…
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Jan
12
2021

COVID-19 Relief Bill Extends Unemployment Benefits, PPP and More

by CoreMark | posted in Blog, Newsletter

The $900 billion COVID-19 relief bill, passed by Congress and signed into law on Dec. 27, includes a number of provisions that affect employers and their workers in terms of paid sick leave and Emergency Family and Medical Leave Act provisions. The legislation also boosts unemployment benefits to out-of-work Americans, as well as reopening and expanding the Paycheck Protection Program that was introduced in March as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. What’s Inside the new COVID-19 Relief Bill? Paid sick leave and family medical leave The new law has not extended the obligation for…
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Jan
12
2021

Your New Year Insurance Checklist

by CoreMark | posted in Blog, Newsletter

As 2021 gets underway and while you’re making New Year’s resolutions, you should also resolve to review the state of your business’s insurance program and we’ve made that easy with our new year insurance checklist. The best way to do that is to start by reviewing your enterprise’s activities in the past year and how they may affect your insurance policies in the new year. What you find as you go through the following checklist may surprise you. New Year Insurance Checklist Did your operations change last year? Workers’ compensation and commercial general liability (CGL) insurance premiums are based in…
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