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Traveling abroad for work can be an exciting experience but anything can happen while you're away from home. Losing your passport, malaria, auto accident, food poisoning – it's important to be prepared for any unexpected illness, injury or medical emergency. Unfortunately, most domestic medical plans reimburse after the fact for emergencies only, and simply are not designed for regular international travel. 
 
It’s no secret that the quality of healthcare can vary widely around the world. The quality of care your expatriate employees experience in their new country may not be to the standard they were used to back home, nor are they likely entitled to any free or subsidized national healthcare. As an international employer, it’s important to provide the proper type of medical coverage for your employees. You want to ensure that they receive worldwide access to quality care, superior international claims administration, and 24-7 translation, logistics, and medical evacuation service. 
Wednesday, 29 June 2016 05:40

Reminder: Key Compliance Deadline in July

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The Patient Centered Outcomes Research Institute (PCORI) fee is due July 31, 2016 for employers with any type of self-funded plan and/or a Health Reimbursement Arrangement. The fee helps fund unbiased research that evaluates the clinical effectiveness of medical treatments regardless of the profit potential. This fee is also known as the Comparative Effectiveness Research Fee, or CERF. 
 
The amount of the fee depends on your health plan’s effective date. The fee is $2.08 per covered life for employers with February 1 through October 1 effective dates, and $2.17 for employers with November 1, December 1, or January 1 effective dates. 
Thursday, 19 May 2016 03:36

MENTAL HEALTH AWARENESS IN THE WORKPLACE

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The Fall River Team recently attended the annual Colorado Culture of Health conference, and the theme of mental health in the workplace was prevalent.  It continues to be a taboo and uncomfortable topic that employers tend to avoid.  However it’s becoming clear that employers can’t afford to take a hands-off approach any longer, due to the enormous impact it has on companies.  The World Health Organization has stated that mental health illnesses in the U.S. are becoming more costly than physical conditions such as cancer, diabetes, and respiratory illnesses combined.
As consumers, we spend so much time focusing on medical benefits and sometimes forget the importance of disability coverage. Although many states do not require that employers offer any type of disability benefit to its employees, there are a handful of states that mandate employers to offer paid-Short-Term Disability (STD) benefits for employees. STD benefits are not available from Social Security or elsewhere in the federal government. If you are disabled less than a year, you can’t collect Social Security disability or State Disability Insurance (SDI).
Monday, 09 May 2016 03:18

HSA Contribution Limits for 2017 Set

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On April 29, 2016, the IRS provided inflation-adjusted HSA contribution limits for 2017, as well as the HDHP minimum deductible and maximum-out-of-pocket expenses associated with HSA's. Click here for the IRS publication.  
 
The contribution limits for HSA's in 2017 will increase by $50 for self-only coverage.  Family contributions to HSA's will remain unchanged, as will the minimum deductible and maximum-out-of-pocket expenses for the High Deductible Health Plans (HDHP).  All changes are based on cost-of-living adjustments determined by the IRS.
 
A comparison of the last several years is shown below:
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