June 2014
In This Issue
Quick Links
 
 
Certificates of Insurance Requests:

The Capital Group  Click Here
 
GOVTECH
Carrier Notes:

Aetna
Wellness Site
 
Anthem
Wellness Site
 
CareFirst
 Change in "Family Access" Feature through CVS
 
Conventry
Wellness Site
 
Kaiser
 New online billing and payment services available through My Health Manager at kp.org
 
United Concordia
Wellness Webinar
 
United Healthcare
Mail Service Member Select Program

Need Help?
Call
301-214-7666
The Capital Group is available to address any of your questions regarding this newsletter, as well as any Insurance or Financial Services.


Health Care
Employer Health Care Arrangements and Significant Penalties
Updated Q&A guidance from the IRS outlines the consequences for employers, if the employer does not establish a health insurance plan for its employees, but instead reimburses employees for premiums they pay for individual health insurance (either through a qualified health plan in the Marketplace or outside the Marketplace).
 
See More Here ...
Mental Health Parity Rules Begin July 1

The Final Rules implementing the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) will begin to apply on the first day of the plan year that starts on or after July 1, 2014. For example, if the plan runs on a calendar year basis, the effective date will be Jan. 1, 2015. 

Parity requirements must be applied classification by classification to medical/surgical and mental health & substance use disorder (MH/SUD) benefits.

The Rules establish limits around financial requirements and treatment limitations in the following manner: 

 

 See More Here ...

Patient-Centered Outcomes Research Institute Fee
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The Affordable Care Act imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans (including HRA plans) to help fund the Patient-Centered Outcomes Research Institute. The fee, required to be reported only once a year on the second quarter Form 720 and paid by its due date, July 31, is based on the average number of lives covered under the policy or plan.

See More Here ...
Financial News
Adding Employee Benefits at NO Cost to the Employer

Employer sponsored 529 plans can be offered to employees at no cost to the employer. The employer sponsored 529 plan, is a value added benefit for employees who want to save for their children or grandchildren's college education. Payroll deductions or ACH direct contributions make it easy for employees to save for future college expenses.  The employer sponsored 529 plan gives employees the added benefit of group pricing and savings compared to individual 529 plans.

 

Contact Chris Staub at The Capital Group to find out how this free benefit can add value to your employee benefits package at (301) 214-7666.
Property & Casualty

Business Interruption Insurance

Also known as Business Income Insurance covers the loss of income that a business suffers after a disaster while its facility is either closed because of the disaster or in the process of being rebuilt. This extra policy provision is applicable to all types of businesses, and designed to put a business in the same financial position if no loss had occurred.

 

Contact The Capital Group's Property and Casualty team for coverage quotes and questions at
301-214-7666.

The Capital Group

6903 Rockledge Drive, Suite 950

 Bethesda, MD 20817
 
Phone - 301-214-7666
    Fax - 888-569-3027   



Copyright � 2014 The Capital Group LLC. All Rights Reserved.
 
This document is for general informational purposes only. While we have attempted to provide current, accurate and clearly expressed information, this information is provided "as is" and The Capital Group  makes no representations or warranties regarding its accuracy or completeness. The information provided should not be construed as legal or tax advice or as a recommendation of any kind. External users should seek professional advice from their own attorneys and tax and benefit plan advisers with respect to their individual circumstances and needs.