July 29, 2024 Employers who sponsor group health plans must act now regarding the status of their prescription drug coverage in advance of changes to Medicare Part D that go into effect for 2025. The Inflation Reduction Act of 2022 (IRA) made changes to Medicare Part D to enhance benefits and enrollee cost savings, which may significantly impact whether employer sponsored prescription drug benefits continue to qualify as creditable coverage under Medicare Part D. Creditable coverage means that the employer's prescription drug coverage is at least as good as Medicare Part D coverage. Employers are not required to offer prescription drug coverage that qualifies as creditable coverage. However, an employer is obligated to determine whether its prescription drug program qualifies as creditable coverage. While the changes appear to primarily impact high deductible health plan (HDHP) coverage, all employer prescription drug coverage should be reviewed for creditable coverage status under the new IRA rules.

HR Elements | June 2024 1. Dear HR Manager 2. Workplace Culture | Embracing No-Meeting Fridays 3. Employee Benefits | Offering Financial Wellness

June saw the ACA Preventive Care Mandate upheld, with an exception that could open it up for future challenges. There was more movement on reproduction rights and privacy, where healthcare providers are barred from disclosing sensitive information to law enforcement without patient consent. Enforcement began on the Pregnant Workers Fairness Act (PWFA), which mandates that employers provide reasonable accommodations to employees affected by pregnancy, childbirth, or related medical conditions. The Supreme Court issued a unanimous decision in upholding the FDA's current protocol for mifepristone, commonly known as the abortion pill. Employers prepared to file IRS Form 5500.