Guidance on Wellness Indemnity Payments
IRS Issues Guidance on Wellness Indemnity Payments. On June 9, 2023, the IRS released OCC Memo 202323006, which advises that wellness indemnity payments under a fixed indemnity insurance policy are wages for purposes of Federal...
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Health Care Spending on the Rise
Health Care Spending Projected to Surpass $7 Trillion by 2031 Estimates from the Centers for Medicare and Medicaid Services (CMS) project annual U.S. health care spending to reach approximately $7.2 trillion in 2031. In 2022,...
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HSA/HDHP Limits Will Increase for 2024
Did you hear the news – HSA/HDHP limits will increase for 2024! On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible...
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Overhaul Prior Authorization Process
Do you know insurers are overhauling the prior authorization process? Insurers, such as UnitedHealthcare, Cigna and Aetna, are announcing plans to revamp their prior authorization processes. These decisions were made as insurers await an impending...
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