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
509-783-2626.
Posts
