BPC is pleased to alert our clients and partners about the passage of 21st Century Cures Act which President Obama signed into law on December 13, 2016. Of particular interest to employer benefits is a provision which will allow small employers to establish a Health Reimbursement Arrangement (HRA) in order to reimburse medical expenses, including for individual health insurance premiums, for employees and their families.
The media and entertainment industry was abuzz after the historic hacking of Sony Pictures Entertainment's network this past November. Careers were tarnished and The Interview became a cultural event. But the terrifying real-life drama that resulted from the hack was left out of the spotlight. Thousands of Sony Pictures Entertainment employees were living in a horror film after their identities, bank accounts, and health information were compromised in the security breach.
An employee* of Sony Pictures Entertainment has opened up to Fortune about the personal impact the security breach had on his family and some of his colleagues. From having to take time off for opening and closing accounts to worrying about their life savings and retirement funds, the cost of identity theft is devastating to both employees and employers. Read the full article here.
As employers and employees work to secure networks and personal identities, they often start exploring the world of identity theft protection. Many providers offer "reactive" services that may be presented at a lower cost. The problem with reactive services is that often times the impact of a security breach is not seen until after accounts and identities are compromised. Only Lifelock Identity Theft Protection provides proactive monitoring and alerts.
In today's digital world it is not a matter of if but when identity theft will happen. Learn how BPC and LifeLock Identity Theft Protection can safeguard your employees as a voluntary employee benefit at no cost to your company. And, by partnering with BPC, you can offer this group benefit at rates much lower than what is available to individual customers. Watch this video and learn more about how BPC and LifeLock Identity Theft Protection can safeguard your employees.
*The employee’s name has been withheld due to the sensitivity of the ongoing situation.
UPDATE: We would like to pass along news of an indefinite enforcement delay related to obtaining and using a unique Health Plan Identifier (HPID). BPC had previously informed clients that some of their health plans might need to obtain an ID by November 5, 2014, with a deadline of a year later for smaller plans. According to a statement released late on Friday, October 31, the Centers for Medicare and Medicaid have announced a suspension of all enforcement surrounding HPIDs. Until further notice, no action needs to be taken with regard to obtaining or using an HPID for any of your health plans. The full statement can be viewed here.