News & Analysis as of

Indemnity Insurance Employee Benefits

Foley & Lardner LLP

Employers Required to Provide New Health and Welfare Employee Benefit Notice

Foley & Lardner LLP on

There are new regulations requiring employers who offer hospital indemnity or other fixed indemnity insurance benefits for plan years starting on or after January 1, 2025, to provide specific notice of the benefit to all...more

Seyfarth Shaw LLP

Agencies Defer Final Action on Junk Insurance, While Suggesting Caution Against One Last “Binge”

Seyfarth Shaw LLP on

The agencies have finalized a portion of their proposed rules impacting so-called “junk insurance” regarding short-term limited-duration insurance, but deferred finalizing the more significant changes that would have impacted...more

Woodruff Sawyer

Agencies Release Final Regulations on Fixed Indemnity Insurance, Refrain from Addressing Level Funded Plans

Woodruff Sawyer on

On March 29, 2024, the IRS, DOL and HHS (collectively, “the Agencies”) released final regulations implementing new notice requirements for group hospital or other fixed indemnity plans that begin on or after January 1, 2025....more

Woodruff Sawyer

Agencies Release Proposed Regulations on Fixed Indemnity Insurance, Seek Comments on Level Funded Plans

Woodruff Sawyer on

On July 12, 2023, the IRS, DOL and HHS (collectively, “the Agencies”) released proposed regulations that modify the conditions for hospital indemnity and other fixed indemnity insurance to be considered an “excepted benefit.”...more

Groom Law Group, Chartered

IRS Chief Counsel Advice Says Wellness Indemnity Payments Are Taxable If No Unreimbursed Medical Expenses Related to the Payment

On June 8, 2023, the IRS released Chief Counsel Advice 202323006 (the “CCA”) addressing the tax treatment of wellness indemnity payments made by employer-funded fixed indemnity insurance policies. The CCA generally provides...more

Mintz - Employment Viewpoints

Hospital and Fixed Indemnity and Disease-Specific Policies in the Cross Hairs: Tri-Agency Proposed Rule Portends Some Disruption

On June 10, the Departments of Treasury, Labor, and Health and Human Services (The “Departments”) issued a set of proposed regulations dealing with expatriate health plans, excepted benefits, lifetime and annual limits, and...more

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