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  • Since the beginning of COVID-19, small business owners have continued to face ongoing hardships. While some problems stem from pandemic fallout, such as staffing issues or low retention rates, others were unforeseen. To combat these challenges, local government officials have made it a priority to help small businesses within their communities.

    What Is ARPA?

    The American Rescue Plan Act of 2021 (ARPA) was signed into law as a relief package. The main goal of the act was to support business owners and community members by providing:

    • State and local aid
    • Education
    • Rental assistance
    • Transit
    • Stimulus payments

    Fund Eligibility 

    Not only was the ARPA implemented for the state but also for local governments. ARPA authorizes additional funding totaling $350 billion to be distributed amongst all 50 states. These funds are only eligible to be used for:

    • Revenue replacement due to the COVID-19 public health emergency
    • COVID-19 expenditures or negative economic impacts which include assistance to small businesses, households, and hard-hit industries and economic recovery
    • Premium pay for essential workers
    • Investments in water, sewer, and broadband infrastructure

    Fund Restrictions 

    Since the money is split between state and local aid, there are different requirements that were established. The influx of funds is beneficial to the state and local finances. However, it also supports aiding recovery from budgetary, economic, and financial impacts of the pandemic. Funds are available until December 31st, 2024. Each county within the state can make its own use of the funds, along with providing them with specific monetary amounts, and who can apply for them. All states, however, have the following restrictions:

    • Funds may not be deposited into any pension fund
    • Funding is to be spent by the end of the 2024 calendar year
    • Allocation to states cannot be used to directly or indirectly offset tax reductions or delay tax, or tax increase

    Why GMS

    At GMS, our mission is to see small businesses succeed. When it comes to changing legislation, GMS is the first to ensure that your business will remain compliant. Stay up to date on all the opportunities to support your business’s recovery following COVID-19. Contact GMS today to learn more.

  • A survey conducted by AKASKA, a leading developer in Artificial Intelligence for healthcare operations, released findings demonstrating how individuals research healthcare. The survey indicated that Americans often turn to health insurers for pricing rather than other sources. In addition, the findings of this survey showcase the need for both payers and providers to be proactive on price transparency measures.

    Survey Findings

    Among the 2,000 adults who participated in the survey, only 36% indicated that they researched prices for healthcare services. In addition:

    • 60% look to their insurance provider for pricing information
    • 44% look on the websites of health insurers for information
    • 29% would call their health insurance company for information 

    In addition to the statistics above, respondents said: 

    • 44% say their health insurance company does not provide pricing information for local healthcare providers
    • 34% are uncertain if this information is available

    On July 1st, 2022, the Centers for Medicaid and Medicare Services began requiring health plans to comply with several initiatives related to price transparency. The goal is to provide consumers with the necessary information to make knowledgeable health care decisions. Along with price transparency, health plans must provide machine-readable files (MRF) with information on in-network and out-of-network insurance rates. However, some question how valuable the MRF format is because it’s not user-friendly and difficult to interpret.

    Stop Questioning Your Health Plans

    Medical coverage isn’t just a benefit for employees; it’s a necessity. At GMS, we provide our clients with various tools and resources to find a coverage solution tailored to their needs. Not only do we provide clients with the buying power of a large corporation, but we’re able to offer financial security, flexible benefit options, and an unprecedented customer service experience. Along with your dedicated benefits specialist, you gain access to a team of experts who train your employees on how your plan works and answer coverage questions. Health insurance is complicated, allow GMS to support you. Contact us today.

  • As inflation continues to rise, many states have begun sending out aid to their taxpayers. Recently, over 14 states have approved a fourth stimulus check. However, this stimulus check will not follow the COVID-19 pandemic relief measures Americans have seen previously. These payments will exude a wide variety of monetary payouts and targeted locations. Government officials are aiming to ease the financial burdens brought on by COVID-19 and inflation.

    States That Are Eligible 

    According to Forbes Advisor, the 14 states that are eligible include:

    • California
    • Colorado
    • Delaware
    • Georgia
    • Hawaii
    • Idaho
    • Illinois 
    • Indiana
    • Maine
    • New Jersey
    • New Mexico
    • Minnesota
    • South Carolina
    • Virginia

    Each state is providing ways that Americans can become eligible for relief payments. Learn more about the additional states that are currently working to get the stimulus approved.

    Additional Rebates

    Energy Rebate

    One way government officials have begun to step in is through the Gas Rebate Act of 2022. The act would rebate energy payments of $100 per month. This would be available to eligible taxpayers in all states by the end of 2022. Dependents would also be eligible for an additional $100 a month.

    The payment structure would be similar to the previous stimulus plans, which allow married filers to receive the full payment with incomes up to $150,000 and single filers earning up to $75,000. However, Congress is still discussing the possibility of offering payment plans in this manner.

    Tax Rebates

    The 14 states have initiated offering tax rebates to their residents which will vary in each state, based on the available funds. While each state is considering different ways for payout, many are doing so through tax rebates, passing bills, grocery tax cuts, and an additional budgeted surplus within the state.

    Frontline Workers

    States could potentially limit the fourth stimulus check to frontline workers. States will require a certain income standard or direct amount of time spent working with COVID-19 patients.

    Unemployed Workers

    In addition, states will also begin to limit the funds to unemployed workers between specific dates. This is for state residents who were not able to work due to COVID-19, without access to remote work.

    What’s Next For Americans

    With the additional measures being taken, there are many steps that go into this funding initiative. Legislators must push the relief through each state. While implementing gas rebates, tax stipends, and stimulus checks is beneficial to employees, there is still a concern about rising inflation. The additional rebates are going to be crafted by each state and have different requirements in which they will allocate the funds.

    Partner With Us

    When you partner with GMS, our HR experts can ensure you never miss out on a legislative change. As states continue to implement the fourth stimulus check, you won’t miss out on an update. GMS removes the liabilities that come along with running a business. Taxes, payroll, and additional services are streamlined for you and your employees. Contact us today.

  • Governor Ron DeSantis signed an executive order on Friday, July 8th at Cape Coral High School to increase transparency for prescription drug prices in Florida. The order would help make pharmacy benefit managers and third-party administrators of prescription drug programs, accountable when managing prescription drug benefits for insurance companies.

    Gov. DeSantis’s goal in signing this order is to create lower costs for prescription drugs in Florida. DeSantis says, “With food and gas costs on the rise, addressing the pharmaceutical costs is one area I can make a difference in.” He continues to state, “This executive order requires accountability and transparency for pharmaceutical middlemen when doing business within the state, thereby reducing the upward pressure on prescription drug costs.”

    The order directs all executive agencies to include the following in future contracts:  

    • Prohibit spread pricing 
    • Prohibit reimbursement callbacks 
    • Include data transparency and reporting requirements 
    • Review all rebates, payments, and relationships between pharmacies, insurers, and manufacturers 
    • Amend all current contracts they can with the same provisions 

    Additional Programs In Progress

    During the Drug Transparency Order signing, Gov. DeSantis’ administration is working on the Canadian Prescription Drug Importation Program. This will allow prescriptions from Canada to be imported when their prices are significantly lower than those in the United States. The Food and Drug Administration (FDA) has been reviewing this for the past 600 days. 

    By developing new programs after the Drug Transparency executive order, Gov. DeSantis’ administration can find effective ways for Florida residents to save money.

    Navigating Prescription Drug Transparency

    By partnering with GMS, you gain access to a handful of resources beneficial for your business. At GMS, we have a designated Rx specialist who works with your employees to find them the most cost-effective options. Our promise is to make your business operations simpler, safer, and stronger. Learn more by contacting us today. 

  • The Healthcare Literacy Takes One Step Forward, and Two Steps Back consumer report created by Optavise has revealed data showing that consumers are still struggling with healthcare literacy. The organization surveyed 1,055 employees with employer-sponsored health insurance in the United States. Survey results show that 65 percent of respondents stated that they do not usually compare prices before getting healthcare. As a result, they may be overpaying. Only 10 percent of respondents stated they check whether a medical provider or facility is in-network whenever their health plan changes (down from 25% in 2021).

    By partnering with health benefits educators and digitizing education, more employers can help employees improve their financial well-being and healthcare literacy.  

    Additional Key Findings: 

    • Avoid surprise medical bills (39%)
    • Understand how their deductible, copay/coinsurance, and out-of-pocket maximum (OOPM) impact their wallet (33%)
    • Review an explanation of benefits (EOB) and medical bill for errors (30%)
    • Research healthcare costs and why they matter (29%)
    • Choose a plan and where to get care (22%)

    How GMS Can Benefit Your Business

    Here at GMS, we understand that it is important for you and your employees to have a better understanding of healthcare costs. We provide our clients with various tools and resources to find a coverage solution tailored to your needs. Furthermore, partnering with GMS will provide you with access to a team of experts who will be there to answer any questions you may have. Contact us today to learn more.

  • Research conducted by the Colorado Department of Insurance (DOI) shows groups could potentially see a significant spike in premium costs for 2023. Those affected by higher prices include small businesses and individuals who receive health insurance outside of their employer’s health plan.

    After reviewing insurance company filings, they show:

    • An 11% increase for individuals
    • A 9% increase for businesses with fewer than 100 employees

    New Option For Coloradans In 2023

    With the expected increases in health insurance for 2023, there will be an additional option for Coloradans. The new option will offer plans at a lower cost than the market average. The deadline for individuals to weigh in on this is August 1, 2022.

    The DOI will examine the reasoning behind these increases after August 1st. Depending on the findings, the DOI will decide if health insurance increases are reasonable or if prices should be adjusted.

    As part of the new lower-cost Colorado option, the DOI has created a Standard Plan to allow consumers and businesses to easily compare plans and choose the best fit. In addition to free primary care and mental health visits, this new plan aims to reduce racial health disparities. However, this will only be available for Coloradans who buy their health insurance on the individual market and for small employers with two to 100 employees. For more information, click here.

    Lower Your Healthcare Premiums With GMS

    While Colorado is creating additional options to lower the cost of health insurance for individuals, GMS also provides health insurance to small businesses. Small businesses have access to the buying power of large corporations by partnering with GMS, which leads to a greater selection of affordable health insurance options. Through our buying power, we’re able to offer financial security, flexible benefit options, and an unprecedented customer service experience. Contact us about small company health insurance today.

  • President Joe Biden’s administration has requested state TennCare officials to make major revisions to the Medicaid block grant program. This program currently provides healthcare to 1.6 million Tennessee residents.

    Under the block grant program, Tennessee would receive a set amount of funding but have more flexibility in how they spend it. This will enable the state to retain savings for health care and health-supporting initiatives.

    State and Federal officials have been discussing these revisions for quite some time. The state has the option of approving or rejecting the changes, as this is a request from the federal government. Furthermore, Tennessee has until August 30th to decide if revisions will be made to the TennCare program. The benefits of 2021 will be preserved in the meantime.

    How Revisions Can Affect Tennessee Residents

    Some experts from Tennessee say that the revisions to the waiver grant program would be beneficial and is good news for Tennesseans. Organizations like the American Heart Association, the American Cancer Society, and many others opposed the granted waiver because of the harm it would do to 1.6 million Tennessee adults and children who rely on TennCare. Michele Johnson, Executive Director of the Tennessee Justice Center says, “all the groups warned it would damage the health care system on which we all depend and would worsen the rural health crisis across Tennessee.”

    On the other hand, by requesting the waiver in 2019, Tennessee Gov. Bill Lee’s administration hoped to save money by directing those funds into health care initiatives and programs. This was followed by a year of criticism from GOP lawmakers who did not want to expand the Medicaid program under the previous Affordable Care Act. By the beginning of 2021, the waiver grant program had finally been approved.

    Under Medicaid, the federal government pays two-thirds of TennCare’s costs. There are no spending caps on state Medicaid expenditures which means Tennessee could boost or even expand the existing TennCare programs if it wishes. Depending on how much more of its own money the state was willing to put into it.

    The Center for Medicare and Medicaid Services is recommending these other provisions:

    • The Center for Medicare and Medicaid Services’ letter states it supports Tennessee’s policy goals to expand coverage and benefits. But the letter says center officials propose that “instead of the current framework for savings and investment,” the federal agency will “work with the state on necessary expenditure authorities to meet common goals.”
    • Modify the waiver’s specific terms and conditions section to “more explicitly state” Tennessee cannot cut benefits or coverage in effect from Dec. 31, 2021, without a procedural amendment subject to an additional public comment period and Center for Medicare and Medicaid Services approval.

    How GMS Can Help

    GMS does more than offer coverage like a traditional medical insurance company. To help our clients find the right coverage solution, we offer a variety of tools and resources including:

    • Education- In addition to a dedicated benefits specialist, you gain access to a team of experts who can train employees on how your plan works and answer questions.
    • Guidance – Health insurance is complicated. Our experts provide guidance on how to best utilize your plans, maintain compliance, and stay on top of Affordable Care Act regulations.
    • Control – GMS gives you more control of your business. Partnering with a PEO for group health insurance lets you focus on growing your business while making your benefits administration more efficient.

    To learn more, contact us today!

  • Since the beginning of COVID-19, the job market has continued to experience rapid loss – so much so that it has coined the term The Great Resignation. However, last month the unemployment gap began to show signs of improvement. According to the Bureau of Labor Statistics, U.S. employers added 372,000 new jobs over the past month. This surpassed the forecasts of economists; the U.S. was vastly heading into a recession due to a lack of employment offerings.

    Where Is The Growth 

    When looking at the rapid job growth in June, the specific industries listed below lead the increase: 

    • Professional and business services
    • Leisure and hospitality 
    • Health care

    When it comes to overall unemployment, the gap has now reached 524,000 jobs. While these industries maintain strong job growth, labor force participation did not see a major rise. The number of people in the labor force fell by 353,000.

    Overall Unemployment

    The private sector has recovered and exceeded the employment opportunities, gaining over 140,000 jobs compared to pre-pandemic. However, the overall unemployment rate has still remained at 3.6%, correlating to about two jobs for each unemployed worker. The labor market will continue to remain on the rise as the economy remains low.

    Candidates Power Continued

    According to SHRM, the average hourly wage increased by 10 cents in June, although it remains a tight labor market. Candidates continue to hold the power over their workplace and organization. Through this, employers have implemented a variety of benefits to attract and retain top talent. With new positions on the rise, it is more vital employers implement the benefits their employees desire.

    Why GMS

    Partnering with GMS allows you to ease the administrative functions of your business. Through the ups and downs of the economy, it’s important to continue ongoing efforts to attract and retain top talent. Through times of rapid change and uncertainty, you can rely on GMS. Contact us today!

  • When the U.S. Supreme Court revoked the federal right to an abortion, many companies stepped in to support their employees. Companies including Amazon, Apple, Disney, and many others pledged to cover all travel expenses for employees that live in states where the procedure has now been made illegal.

    How Businesses Have Stepped Up For Their Employees

    However, businesses that announced their plan to offer travel benefits did not provide details, and it’s unclear if they will be able to legally. As a business owner, you must protect your employees’ privacy and keep them safe from prosecution. Employers have created supplementary policies that employees can buy to cover the costs of abortion travel. Additionally, businesses are contacting insurers to determine if travel can be added to their current insurance plans and figuring out how to offer a benefit without breaching employees’ privacy.

    Employees are not required to tell their managers they are traveling out of the state to have an abortion. According to Sharona Hoffman, a health law professor at Case Western Reserve University, individuals will most likely have to tell human resources or a similar department that they are pregnant and would like to get an abortion. Depending on the company, the business or its health insurer would provide money upfront or reimbursement.

    Challenges Businesses Could Face

    With these announcements come many potential challenges. Adding travel benefits to a current medical plan carries risk. While the federal Health Insurance Portability and Accountability Act (HIPAA) protects sensitive patient information, it can be overruled in cases where a crime has been committed. This could directly impact businesses in states where abortion is now a crime. In contrast, some employees may oppose abortion and get upset that their company pays or reimburses the travel of other employees. Other arguments employees may pose include not paying for travel for fertility treatments or transgender health care.

    Listen To Your Employees!

    At the end of the day, as a business owner, your job is to make sure your employees feel heard and valued. You want what’s best for your employees. We help business owners stay in the know while being their trusted advisors for delicate topics such as abortion. Don’t let these ever-changing laws and regulations prevent you from doing what you do best- growing your business. Contact us today.

  • After the Supreme Court’s decision to overturn Roe v. Wade, President Biden’s supporters voiced for him to push harder to protect abortion access. In response, on July 8th, 2022, President Joe Biden signed an executive order designed to ensure access to abortion medication and emergency contraception while preparing for legal fights. He has made it clear that the only way to secure a woman’s right to choose is for Congress to restore the protections of Roe as federal law.

    The executive order will build from the actions his administration has already taken to defend the rights of women by:

    • Safeguarding access to reproductive health care services (abortion and contraception).
    • Protecting the privacy of patients and their access to correct information. 
    • Promoting the safety and security of patients, providers, and clinics. 
    • Organizing the implementation of Federal efforts to protect reproductive rights and access to health care.

    For more information, click here. 

    Additional Actions To Protect Access To Reproductive Health Care

    The Biden-Harris Administration has taken additional steps to protect access to reproductive health care and defend reproductive rights by:

    • Supporting providers and clinics
    • Promoting access to accurate information
    • Providing leave for Federal workers traveling for medical care
    • Protecting access to reproductive health care services for service members, oD civilians, and military families

    While there will be many legal challenges from pro-life supporters, this executive order directs the Attorney General and the White House counsel to “convene a meeting of private pro bono attorneys, bar associations, and public interest organizations” to encourage robust legal representation.

    Stay In The Know!

    The last thing you want as a business owner is to miss a new law or regulation that could impact your business. The uncertainty of the economy today makes it challenging for businesses to grow their business. By partnering with GMS, you have access to experts that handle that for you. Stay in the know while growing your business. Contact us today.