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2023 Innovations That Will Change Business

2023 Innovations That Will Change Business

2023 Innovations That Will Change Business.Adoption of Disruptive Technology.CyberSecurity.PEO.Remote Work.Going Virtual,AR, VR & Metaverse. PEOs for start-ups are considered to be one of the most important innovations for this year because it allows businesses to focus on marketing and strategizing their products or services. Removing the unnecessary burden that HR tasks and functions bring to employers and employees.

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3 Ways to Reduce Holiday Stress

3 Ways to Reduce Holiday Stress

3 Ways to Reduce Holiday Stress. Set up a holiday budget. Create a plan. Take time for self-care. Many insurance plans offer affordable behavioral health benefits in person and through telehealth.

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2023 Trendiest Benefits

2023 Trendiest Benefits

Many workers are paying more attention to their benefits and wondering how to stretch their dollars further. Employers are uniquely positioned to offer more than just a health care plan, including holistic benefits, resources and perks that today’s workers most need. This article highlights benefits that are likely to be popular in 2023.

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New Era in Benefits Needs

New Era in Benefits Needs

New era, new values
Workers seek empathy and flexibility in a post-pandemic work world. Benefits, empathy, and workplace flexibility are close behind salary in terms of what matters most to workers when evaluating employment opportunities. It’s become apparent to employers that their old model of benefits is no longer sufficient. The dramatic impact of the events of the past two years has created a very different employee mindset. It has torn up the employer-employee contract that had, until now, endured.

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Federal Open Enrollment Exclusion Deadline

Federal Open Enrollment Exclusion Deadline

Open Enrollment Participation Waiver. Having trouble maintaining minimum group health insurance participation? The annual Federal Employees Health Benefits (FEHB) Open Season is taking place from November 14, 2022 – December 12, 2022 this year. The annual open season provides federal employees, annuitants, and other eligible individuals the opportunity to review their plan options, make changes, and enroll for the upcoming benefit year that begins January 1, 2023.

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NYS 2023 Final Rates Approved

NYS 2023 Final Rates Approved

Breaking: #NYS 2023 Final Rates Approved!
Small group rates increase 7.9% & 9.7% for individuals. Almost 850,000 New Yorkers are enrolled in small group plans, which cover employers with up to 100 employees.
#oxford notably, got only a 6% rate increase approved for next year.
Premium main drivers are increases in pricing by hospitals, consolidated IPA groups, and pharmaceuticals. Plus a spike in elective surgeries postponed due to COVID-19.

Learn about a PEO before you renew. Let’s review today (855)667-4621 or info@medicalsolutionscorp.com.

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Inflation Reduction Act to be Signed into Law, Includes Multiple Medicare Drug Pricing Reforms

Inflation Reduction Act to be Signed into Law, Includes Multiple Medicare Drug Pricing Reforms

On Aug. 12, the Inflation Reduction Act of 2022 (IRA) passed the U.S. House by a vote of 220-207, and President Biden is expected to sign it into law today. First passed by the U.S. Senate on Aug. 7, the $740 billion budget reconciliation package includes policies on Medicare drug pricing, Affordable Care Act (ACA) subsidies, energy, climate, and taxes. This update provides high-level details on the notable health care-related provisions in the IRA.

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2023 NY Small Group Carrier Rate Filings

2023 NY Small Group Carrier Rate Filings

Last month NYS received the rate filing requests below as per annual Dept of Financial Services requirements. Your insurer has mailed notices about their rate filings (requested rates) to impacted New York small business certificates and policyholders with renewal dates in 2023.

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Employer Sponsored Health Plans Generate 47% ROI

Employer Sponsored Health Plans Generate 47% ROI

For every dollar employers spent on health insurance-related costs, they get back $1.47 according to a new study. This figure in fact is expected to grow to 52% by 2026 from 47%. Employee productivity reflects the reductions in absenteeism and presenteeism after receiving employer-sponsored coverage. These productivity increases contributed an estimated $275.6 billion in employer benefits in 2022, or 53.3 percent of all benefits. By 2026, this is expected to rise to $346.6 billion or 55.9 percent of total ROI.

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When to Choose Urgent Care

When to Choose Urgent Care

Should the cut on your hand or the chest pain send you to the ER or an urgent care center? It’s difficult to be sure. Urgent care centers provide fast, noncritical health care on a walk-in basis. A visit is generally around the same price or slightly more than a clinic visit but far cheaper than a trip to the emergency room.

But how do you know when you may need urgent care or when to choose another treatment option?

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Webinar: How HDHPCan Set Employees Up for Financial Success

Webinar: How HDHPCan Set Employees Up for Financial Success

A common fear among employees can be that High Deductible Health Plans (HDHPs) expose them to too much risk. However, this misconception misses the near-certain long-term losses that come with not choosing a HDHP that includes an HSA. What employees are often missing is a full knowledge of the long-term financial impacts and risks associated with enrolling in an HDHP paired with HSA savings strategy, compared to a more traditional, low deductible PPO option. Employer contributions to HSAs can also set employees up for financial success and retirement readiness.

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HSA 2023 Dollar Limits

HSA 2023 Dollar Limits

The IRS has released the 2023  Health Savings Account (HSA) inflation adjustments. To be eligible to make HSA contributions, an individual must be covered under a high deductible health plan (HDHP) and meet certain other eligibility requirements. New HSA 2023 limits...

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Winter Action Plan to Battle COVID-19

Winter Action Plan to Battle COVID-19

The Biden administration issued a nine-pronged plan to combat COVID-19 as the winter months approach and the new Omicron variant poses risk of new infections. Click below to learn about the aspects of the plan that will affect employers and group health plans.

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FEDERAL JAN 1st SMALL GROUP ANNUAL OPEN ENROLLMENT WAIVER

FEDERAL JAN 1st SMALL GROUP ANNUAL OPEN ENROLLMENT WAIVER

A little-known requirement but most important under the Affordable Care Act (ACA) is for Health Insurers must waive their minimum employer-contribution and employee-participation rules once a year. ACA requires a one-month Special Open Enrollment Window for January 1st coverage. FEDERAL JAN 1st SMALL GROUP ANNUAL OPEN ENROLLMENT WAIVER. For more help w/Special Open Enrollment Window info@medicalsolutionscorp.com or (855)667-4621

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Employee Retention Tax Credits

Employee Retention Tax Credits

You may be eligible for the Employee Retention Tax Credit (really!) The #ERTC may seem complex if you’re using a PEO but it’s simplified and a hidden goldmine. #payroll #cashflowmanagement #bookkeeping #finance
≈ under CARES ACT have been available for #SMB yet there has been confusion. Learn and call (855)667-4621. #caresact #payroll

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