Covered Bridge Insurance

Smart Year-End Move: Manage Your Employee Benefits
For 2021, employers may provide a 12-month grace period for both types of flexible spending accounts.
by: the editors of Kiplinger's Personal Finance / / Read Article

Get the most from your health spending accounts

If you are worried about losing funds you’ve set aside in a pretax flexible spending account for health or dependent care—perhaps because you put off medical appointments or your kids have been home during the pandemic—relax. Legislation enacted in response to COVID-19 tweaked rules for flexible spending accounts. Instead of losing those funds at the end of the year, employers can modify their plans to allow workers to carry over unused funds through 2022.

Normally, your employer may let you roll over up to $550 of unused funds in a health care FSA for an additional 2½ months (that is, until March 15 of the following year), and you can’t roll over any dependent care FSA funds. But for 2021, employers may provide a 12-month grace period (to December 31, 2022) for both types of flex accounts. That’s particularly significant for dependent care spending accounts, because Congress allowed those FSA holders to sock away up to $10,500 of pretax wages in 2021, up from the standard limit of $5,000.

During this time of transition in our country, hoping that some of the strides made in the healthcare situation, etc. are not lost. We need to continue to move forward with improvements! Healthcare should be a non-partisan issue.

Many Last-Minute Health Rules Subject to Biden 60-Day Pause (2) Here are more than 20 major health policy actions by the Health and Human Services Department and related agencies that are subject to a 60-day pause and review under President Joe Biden.

Medicare has announced the new 2021 premiums for Part B and the new deductibles, as well as the new IRMAA rates.

2021 Medicare Parts A & B Premiums and Deductibles | CMS On November 6, 2020, the Centers for Medicare & Medicaid Services (CMS) released the 2021 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs. Medicare Part B Premiums/Deductibles Medicare Part B covers physician services, outpatient hospital services, certain....

https://www.cms.gov/newsroom/fact-sheets/2020-medicare-parts-b-premiums-and-deductibles

2020 Medicare Parts A & B Premiums and Deductibles | CMS On November 8, 2019, the Centers for Medicare & Medicaid Services (CMS) released the 2020 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.

CMS announced that 2018 Medicare Part B premiums will remain at $134 per month.

2017-11-17 - Centers for Medicare & Medicaid Services The page could not be loaded. The CMS.gov Web site currently does not fully support browsers with “JavaScript” disabled. Please enable “JavaScript” and revisit this page or proceed with browsing CMS.gov with “JavaScript” disabled. Instructions for enabling “JavaScript” can be found here. Please note...

Making sure the medication you need is on your plan for 2018 is important. We are always happy to run an Rx check to ensure you purchase the best plan to fit your specific needs. Even if your medications haven’t changed, your plan may have changed. It is always good to do a quick review. We
can help find the best plan for you!

Over 60 drugs to be dropped from insurance coverage Insurance companies modify their formulary exclusions every year, around the beginning of August. Here's a list of major drug formulary exclusions.

I wish I could say that this is surprising...

Mylan Top Executive Engulfed in Alleged Price-Fixing Ring Mylan NV’s second-ranked executive took an active role in a vast and “sinister” price-fixing conspiracy among global makers of generic pills that kept prices of the medications artificially high, dozens of states alleged in a new complaint.

Here's news about the new Medicare ID cards. Definitely a great idea and it's implementing soon!

NMC Home - Centers for Medicare & Medicaid Services The page could not be loaded. The CMS.gov Web site currently does not fully support browsers with “JavaScript” disabled. Please enable “JavaScript” and revisit this page or proceed with browsing CMS.gov with “JavaScript” disabled. Instructions for enabling “JavaScript” can be found here. Please note...

https://oci.wi.gov/Pages/PressReleases/20170628InsAwarenessDay.aspx

OCI Press Release, June 28, 2017, Insurance Awareness Day Date: June 28, 2017For more information contact: Elizabeth Hizmi, Public Information Officer, (608) 267-9460 or [email protected]

Today is Insurance Awareness Day in WI. Always good to think of your insurance needs and ensure your coverage is adequate. Life Insurance, Disability Income and Long Term Care are often areas that are underinsured. Let us know if you would like to do a review with you -- we're happy to help!