The Value of Telemedicine
Telemedicine has become a transformative advancement in healthcare, offering Health and Welfare plans an efficient, cost-effective solution that increases access to care while reducing overall healthcare costs.
By allowing members to consult with healthcare providers via video calls, phone consultations, and online messaging, telemedicine eliminates the need for in-person visits, lowering both out-of-pocket expenses for employees and administrative costs for plans. It also enables members in remote areas or with limited mobility to receive timely care, enhancing workforce productivity and reducing absenteeism. For those with chronic conditions, virtual check-ins help manage treatment plans, preventing complications and reducing long-term healthcare costs. With telemedicine integrated into benefits packages, employers demonstrate a commitment to employee well-being, improving job satisfaction and retention. Zenith, through partnerships with MD Live and Teladoc, helps Health and Welfare plans deliver high-quality healthcare solutions that are accessible, convenient, and affordable for all members.
2025 ACA Updates: Guidance Issued on Gag Clause Prohibitions and QPA Calculations
On January 14, 2025, the Departments of Labor, Health and Human Services and the Treasury released ACA FAQs Part 69, in which they provided guidance on the Gag Clause Prohibition and attestation compliance, extended enforcement relief on qualifying payment amount (“QPA”) calculation requirements until August 2025 and provided clarification on complying with QPA methodology rules under the No Surprises Act.
Update: Improving Customer Service with New Telephony System
We’re excited to announce the launch of our new telephony system in Q4 2024. This upgrade will enhance call quality, speed, and efficiency, improving the experience for you and your participants. No action is required on your part to enjoy these benefits. We're committed to delivering exceptional service, and this update will elevate your experience to the next level.
Case Study: Launching a First of Its Kind Retirement Fund
In 2024, Zenith American Solutions partnered with the Board of Trustees of Child Care United (“CCPU”) of California to create a first-of-its-kind Retirement Fund for California's home-based child care providers. This achievement follows successful negotiations by SEIU Local 521, SEIU Local 99 and United Domestic Workers/AFSCME Local 3930, securing $80 million in annual funding through the new Collective Bargaining Agreement (CBA).
The Unions will design and administer the Plan, providing essential financial support to these vital workers.
Final Regulations on Special Financial Assistance for Underfunded Multiemployer Defined Benefit Plans Released
On July 8, 2022, the Pension Benefit Guaranty Corporation (PBGC) finalized new regulations for Special Financial Assistance under the American Rescue Plan Act (ARPA) of 2021, which initially aimed to provide $86 billion for underfunded Multiemployer Defined Benefit Plans.
The updates, effective August 8, 2022, include allowing up to 33% of SFA assets in return-seeking investments, more flexible benefit increase options, and adjustments to the application process and withdrawal liability calculations. Plans can also allocate up to 10% of contribution rates to health benefits with PBGC approval. To date, 28 plans have received $7.4 billion in relief, with the updated program cost estimate ranging between $74 and $91 billion.
Part 2 - American Rescue Plan Act of 2021 Impact on Multiemployer Defined Benefit Plans
The American Rescue Plan Act (ARPA) offers up to $86 billion in relief for underfunded pension plans through 2051. To qualify, plans must meet specific criteria such as being in “critical and declining” status or facing insolvency.
Administered by the PBGC and funded by the Treasury, this program provides a lump sum grant to cover benefits through 2051, including restoring previously cut benefits. Applications are due by December 31, 2025, and the PBGC may prioritize certain plans. For further details, consult your actuary or fund counsel.