Last Friday, July 24, the Office of Health and Human Services (HHS) announced the extension of the Public Health Emergency due to COVID-19. The emergency period is extended by 90 days and favored by radiologists, hospitals, physicians, and many others. The previous emergency period would have expired on Saturday, July 25. Now, the declaration will last through October 23. The extension comes as a massive relief for Medicare and Medicaid providers and those on the frontlines battling this terrible pandemic. Nevertheless, I couldn't help but wonder: What does this mean for us ordinary folks? 

According to the press release...

The IRS recently provided notice 2020-44 announcing the new PCORI fees for plan years from October 2019 through October 2020. The new fee is an increase of $0.09, from $2.45 to $2.54. While this amount is important to know, it is essential to understand what PCORI fees are and how they affect your ACA Employer Reporting.

PCORI stands for Patient-Centered Outcomes Research Institute. The Patient-Centered Outcomes Research Trust Fund fee is a tax on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans. It assists in funding the institute. Imposed by §§ 4375 and 4376 of...

Medcom Benefit Solutions recently announced a significant and valuable expansion of its Consumer Driven Health Plan division with the introduction of a Disaster Relief Program. The program, Medcom Cares, assists employers looking for time-sensitive and creative financial ways for helping their employees dealing with furloughs, reduced hours, and layoffs due to the COVID-19 pandemic.

Medcom Cares is based on IRS Section 139: Disaster Relief Payments. Section 139 states that employers are allowed to provide "Qualified Disaster Relief Payments" to employees, tax-free, who are affected by a federally declared disaster. A qualified disaster relief payment means any amount paid...

The employee benefits landscape is confusing, to say the least. When I first started my career with Medcom Benefit Solutions, I didn't have a clue about HRAs, HSAs, FSAs, or any of the extra benefits employers offer. Honestly, money terms, investment plans, insurance details really make me nervous. I get intimidated by what I don't know and afraid to try to learn more. However, at Medcom I'm encouraged to learn more so I could help others better understand the language and the perks of these additional employee benefits. It has definitely been a learning...