Your Monthly
Newsletter from Integrated Benefit Solutions
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September 2019
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2020 Open Enrollment is Almost Here
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To prepare for open enrollment, group health plan
sponsors should be aware of the legal changes affecting the
design and administration of their plans for plan years beginning
on or after Jan. 1, 2020. Employers should review their plan
documents to confirm that they include these required changes.
In addition, any changes to a health plan’s benefits for the 2020
plan year should be communicated to plan participants through an
updated summary plan description (SPD) or a summary of material
modifications (SMM).
Health plan sponsors should also confirm that their open
enrollment materials contain certain required participant
notices, when applicable—for example, the summary of benefits and
coverage (SBC). There are also some participant notices that must
be provided annually or upon initial enrollment.
Important
Notices
- Annual CHIP notice
- Medicare Part D creditable
coverage notice
- Notice of grandfathered
status (if applicable)
- Annual notice regarding coverage
requirements for mastectomy-related benefits (WHCRA notice)
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Financial Industry Experienced 3,500 Cyber Attacks
in 2019 So Far
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In mid-July, Capital One announced that the
personal information of more than 100 million of its U.S.
customers was compromised in one of the largest data breaches
involving a bank.
In an official release from
the company, Capital One noted that the information exposed
includes names, addresses, emails, credit scores and transaction
data. In some cases, Social Security numbers and linked bank
accounts of secured credit card customers were also compromised.
Although this data breach was one of the largest data breaches
involving a bank, it’s just one of 3,500 data breaches
experienced by the financial sector so far this year. This
staggering number of attacks communicates the relentlessness of
cyber criminals.
As the number of cyber attacks
continues to climb, it’s time that your organization evaluates
its cyber security policies and practices. Companies must ensure
that they’re complying with and promoting cyber security
guidelines at their organization to help protect their
data.
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Hospitals to Publish Retail Prices Under a New
Proposed Rule
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In July, the Centers for Medicare and Medicaid
(CMS) proposed rules
that would require all Medicare-participating hospitals to post
their negotiated prices for standard health care services.
The proposed rule is intended to increase pricing transparency
and help consumers understand the charges they may incur before
receiving care.
These are just proposed rules at the moment, which means no
changes will be made effective until the rules are finalized. The
agency is currently asking for comments on the proposed rule. The
deadline for submitting comments
is Sept. 27, 2019.
We will continue to monitor and keep you updated on these
developments.
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How to Make Your Job Posting Stand Out
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Filling a job vacancy is a big task.
Unfortunately, you get only one chance to make a first impression,
and the job posting is often your very first contact with a
potential employee. But how do you make your job posting stand
out above the rest? Watch the video below to learn five fast tips
to make your job posting stand out.
For
more helpful recruitment tips, check out our Recruitment & Hiring
section.
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