News & Events

Benefit Plan Compliance – Executive Discrimination

An important aspect of benefit plan compliance that is often overlooked is executive discrimination. Executive discrimination isn’t the discrimination of company executives, but rather the favoring of these corporate leaders in terms of employee benefits. In short, executive discrimination is described in the IRS Code Section 105H as providing non-taxable benefits to Highly Compensated Individuals […]

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CIGNA Notice | What You Need To Kow

At SISCO, we pride ourselves on providing your clients with the very best benefits, at the lowest possible cost. Through our strategic partnership with Cigna, we will be able to provide improved pharmaceutical care to your clients beginning January 1, 2020. Cigna produced a list of formulary changes that will reduce cost and improve quality […]

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Medicare Beneficiary Identifiers

MBIs Required Starting The New Year In 2018, The Centers for Medicare and Medicaid Services (CMS) announced that Medicare Beneficiary Identifiers (MBIs) would replace Social Security Number-based Health Insurance Claim Numbers. Following this announcement, CMS created a grace period where members could still use the old Health Insurance Claim Numbers. The allotted grace period expires […]

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Preventative Care Coverage Expanded by IRS

For people with chronic conditions, having a High Deductible Health Plan (HDHP) is often expensive. In 2004, the IRS defined a list of conditions and treatments that may be covered by HDHPs before the minimum deductible is met in order to assist with the financial burden of the necessary treatment for chronic conditions. On July […]

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2020 HRA Rules — What you need to know

Beginning January 1, 2020, there will be two new Health Reimbursement Arrangements: an Individual Coverage HRA and an Excepted Benefit HRA. While both are sensible options for employers to offer, there are a few distinctions to note for the IC-HRA and the EB-HRA. IC-HRA For employees of all sizes Employees may be eligible if enrolled […]

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The SisCo Approach to Subrogation

Subrogation is the term used to describe the right of an insurance plan to recoup settlement payments when other non-group medical expenses may be paid by other available insurance, such as auto or property policies. Subrogation payments may be recovered from the other party, an insurance company, a settlement or a court order. SisCo understands […]

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Your Plan & Drug Testing During the Opioid Epidemic

Chronic pain is a medical condition that often requires opioid prescriptions for symptom relief. However, the addictive nature of opioid medications have led to a nationwide Opioid Epidemic. Nearly 2.1 million Americans reported an opioid disorder in 2016 and 64,000 deaths from overdose were recorded the same year.1 Aberrant behaviors associated with opioid usage — […]

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Compliance Reminder for Cafeteria Plans

As benefits administration becomes more and more complicated, compliance is on everyone’s to-do list. In the compliance world of never-ending change, the following is a refresher course for employers on just two compliance requirements for Internal Revenue Code Section 125 cafeteria plans that haven’t changed — nondiscrimination testing and Form 5500 filing obligations. What are […]

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Final Notice of Benefit and Payment Parameters for 2020

Overview On April 19, 2019, the Department of Health and Human Services (HHS) released its final Notice of Benefit and Payment Parameters for 2020. This rule describes benefit and payment parameters under the Affordable Care Act (ACA) that apply for the 2020 benefit year. Standards included in the rule relate to: Annual limitations on cost […]

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The SISCO Difference

While SISCO is an acronym for Self Insured Services Company, the past few years have seen SISCO evolve into a vast array of diversified services. Serving over 300,000 client employees, SISCO offers a full menu of services and has demonstrated success in the delivery of integrated enrollment and cost-control services. THE SISCO DIFFERENCE At SISCO, […]

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