HR Administrators Dashboard / Important News & Announcements
Thank you for joining us today on our quarterly call with our awesome USI team! We covered a lot of ground, so if you didn’t get a chance to join us, please take a look at the deck, and let me and/or USI know if you have any questions. We hope these meetings are beneficial to you. If you have any feedback you’d like to share with me and/or USI, or topics you think might be meaningful to our group please reach out and let us know!
A copy of the slide deck is attached and is available on the Trust website for your future reference. Log into the HR Administrators portal >> Quick Links >> Internal Marketing & Training Tools >> Off Season Tool Box >> Quarterly Calls.
The meeting was recorded to give you a little more context if you want to dig in on a certain part of the presentation. This is also available in the same location noted above on the Trust website.
The recorded meeting video is located here.
Password to view is: ogradyQ12022
Q&A from today’s Quarterly Call Attendees
I thought you might appreciate having those documented for future reference!
Q: Is the audit happening sooner this year than in prior years?
A: No, we are starting at the same time, and always hope to be finished earlier than our extension deadline of October 15th to avoid IRS/DOL penalties. Because our deadline is close to the Open Enrollment horizon, it’s best to get audit requests handled as early as possible to ensure you aren’t having to juggle this with all the other tasks that keeps HR busy that time of year!
Q: Does the agency/participating employer need to file the 5500 or the extension?
A: No, the Trust is responsible for filing the 5500 for the Trust medical, dental, vision, and flex plans. It is filed under the Trust tax ID number, and our partner Aronson handles the 5500 filing along with the extension filing (if needed).
Q: I thought the Trust had grown, but it looks like enrollment has declined. Is that right?
A: (See slide 10) We grew significantly in 2020 with the addition of Catholic Charities of Omaha and Catholic Charities Brooklyn & Queens. Due to circumstances around the Pandemic, for example, programs being shut down at different agencies, people not wanting to come back to work in the office, people re-evaluating life situations, The Great Resignation, etc., this has resulted in a 15% reduction in enrollment over the last two plan years 2020, and 2021.
Q: Will the Trust plan adopt the Temporary Telehealth Relief specific to HSA plans that was signed into law on March 15?
A: This relief is an optional change that Plans can decide to adopt or not. This is still being discussed between the Trust and CFA/MDLIVE. If the Trust decides to adopt this relief, it will be communicated to the Participating employers. Please note, this would only impact Bronze Plan participants if adopted.
Q: Do you know what the renewal increases are for 2023, or when those will be available?
A: The board meeting where renewal decisions are made will be July 12th. We may be able to provide an estimate as we get closer to the board meeting, but we will not know anything for certain until the board meeting on July 12. If you need an estimate by a deadline for budget planning, etc., please reach out to Sarah and the USI team for help with this!
Q: Will the benefits remain the same in 2023?
A: It’s possible there may be some small tweaks to the plan designs in 2023, but we will not know until after the July 12 board meeting. We do not expect any carrier changes in 2023.
Thank you all for being a part of the Trust! We are so grateful to have each and every one of you on board!