Understanding Medicare typically isn’t a hot bucket list item, and for good reason – it’s complex, lengthy and dry. Trying to make sense of Medicare laws can be overwhelming for both individuals and businesses. When an employee or dependent is enrolled in a group plan and Medicare, the rules for who is responsible to cover that individual’s medical bills first (being the primary payor) can be confusing. We’ve laid out a few scenarios to make it a little easier to understand when the employer’s group plan is responsible for paying first and when Medicare takes on the role of primary payor.
The IRS has changed the annual contribution limits on many of the tax-free benefit accounts available for your employees to enroll in for 2019. Make sure your employees know the contribution limits for any accounts they may be enrolled in this coming year and that they can take full advantage of the benefits package you are offering and can save the most on their taxes.
Have you sent out your Medicare Part D notices? If your company offers prescription drug coverage, you are required to provide notices by October 14th stating whether it is creditable or not before the Medicare Part D open enrollment period begins.