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Dear Brooks Financial Group (BFG) Family,

Patient First Now Offering Telehealth Services

Patient First is now bringing Physician consultations to you through Telehealth services.

Telehealth is currently available to patients in Maryland, Virginia, Pennsylvania, and New Jersey. If you live in one of those states, have been treated at a Patient First facility within the past five years, and are at least 18 years old, you can speak with a Patient First Physician through your smartphone, tablet, or computer.

The IRS Releases Two New Healthcare Notices

Dear Brooks Financial Group (BFG) Family,

 

On May 12, the IRS released two notices allowing employees during 2020 to make changes to their enrollments in employer-sponsored health plans, and to adjust pre-tax contributions to health flexible spending accounts (FSAs) and dependent care flexible spending accounts (Dependent Care FSAs).

Telehealth and Virtual Care During COVID-19

We would like to share important information regarding Telehealth and Virtual Care.  During the COVID-19 pandemic, most insurance carriers are providing these services under the Affordable Care Act's (ACA) Preventative Care Benefits, with no cost to the member. 

New Rule Extends Deadlines Under the ERISA and Internal Revenue Code

On April 28, 2020, the Department of Labor issued a rule that extends many deadlines under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue code. This rule impacts group health plans, disability and other welfare plans, pension plans, and participants and beneficiaries of these plans during the COVID-19 national emergency.

Below is a summary of the primary changes regarding how this rule applies to plans.

UPDATED: Families First Coronavirus Response Act (FFCRA) FAQs

As the news of the Coronavirus (COVID-19) continues to grow, it is our goal to keep you informed of all updates as they pertain to you, your teams, and your organization.

CARES Act: Retirement Plan Relief Provisions

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. This $2 trillion emergency relief package represents a bipartisan effort to assist both individuals and businesses in the ongoing coronavirus pandemic and accompanying economic crisis. The CARES Act provisions for retirement plan relief for individuals under federal tax law are discussed here.

Changes the CARES Act is Making to HSAs, FSAs, and HRAs

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This law brought a variety of relief measures aimed to aid in the fight against COVID-19. This communication will focus on the changes to Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and Health Reimbursement Arrangements (HRAs).  

FCMS Quarterly Market Review & Outlook

In our commitment to provide ongoing communication and leadership, we are writing to you today to make you aware of the outcomes of our most recent economic committee meeting for the Freedom Capital Management Strategies®. As you know, COVID-19 began impacting the market during the first quarter of this year. This is a detailed outline of the trends we are monitoring, their implications, and also our perspectives. 

Relaxed Insurance Eligibility Requirements and Extended Relief Period

The unpredictability of the current COVID-19 situation is complex, and Brooks Financial Group (BFG) understands how stressful that can be during these difficult times. Many employers are faced with limiting hours and furloughing employees. The insurance carriers want to remain flexible and accommodating. As such, many insurance carriers are relaxing eligibility requirements during this crisis and are establishing an extended relief period until May 31, 2020.