Insurance News From Benefit Analysts

Final Rule Significantly Expands IRS Electronic Filing Requirement

Final Rule Significantly Expands IRS Electronic Filing RequirementOn Feb. 23, 2023, the IRS released a final rule that substantially expands the requirement to file certain information returns electronically, including the Affordable Care Act’s (ACA) reporting requirements under Sections 6055 and 6056 of the Internal Revenue Code.


Humana to Exit Employer Group Commercial Medical Products Business

Humana to Exit Employer Group Commercial Medical Products BusinessOn Feb. 23, Humana announced its plan to exit the employer-based insurance business over the next 18 to 24 months. The company will instead focus on government-funded programs—such as Medicare, Medicaid and military—and specialty businesses.

Employer-sponsored health insurance is a common way for Americans to get coverage, but such plans accounted for less than 6% of Humana’s total membership at the end of 2022. Humana revealed that the Employer Group Commercial Medical Products business could no longer sustainably meet the needs of commercial members nor support the company’s other long-term strategies. The employer insurance business includes fully insured health insurance plans purchased by employers and employer-sponsored health plans run by Humana.


How the End of the COVID-19 Emergency Periods Will Impact Health Plans

End of the COVID-19 Emergency PeriodsThe Biden Administration has announced its plan to end the COVID-19 national emergency and public health emergency (PHE)on May 11, 2023. Employer-sponsored health plans have been required to comply with certain coverage requirements during the COVID-19 emergency periods, including the following:


5 Small Business Tips for Preparing for a Recession

5 Small Business Tips for Preparing for a RecessionThere’s growing anxiety that the U.S. economy is heading into a recession. While a recession impacts organizations of all sizes, small businesses often have limited resources and face a unique set of challenges. As a result, small businesses often must make difficult financial decisions to avoid issues such as insolvency or bankruptcy when a recession hits. That’s why it’s critical for small businesses to now consider these 5 small business tips for preparing for a recession.


6 Key Employee Benefits Trends for 2023

6 Key Employee Benefits Trends for 2023Many of the challenges that plagued workplaces in 2022 will likely continue this year and beyond. Current labor challenges are forcing employers to find ways to balance rising costs and inflation while providing employees with the benefits they value and need. Understanding this year’s employee benefits trends can help employers assess whether their offerings meet employee demands and needs.


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