Health Care Update

The guest speaker for our March 16 meeting was Nancy Taylor-Babcock with Wells Fargo Insurance Services in Spokane.  Nancy  shared the results of a Wells Fargo's National Survey outlining the strategies and actions employers are taking to deal with rising health care costs. 

•      15% changed medical carriers
•      41% asked employees to absorb a greater cost share   
•      Half made change to both medical and Rx design

Nancy also reminded us about the complexity of a variety of compliance issues including:

• Cobra Notificiations
• Medicare Part D Notifications each year
• Update CMS Website each year
• CHIPRA  Notices
• Appropriate ERISA compliant Summary Plan Description
• FSA - COBRA Eligible Benefit

If all this leaves you reeling with questions, Wells Fargo is hosting a free seminar dealing with compliance issues May 4, at the Red Lion in Spokane.  If you're interested in attending contact Erin Repp at
509-783-2626.