News

As a reminder, employer groups offering a Health Reimbursement Arrangement (HRA) are required to pay the annual Patient-Centered Outcomes Research Institute (PCORI) trust fund fee to the IRS by July 31, 2024.

Blue Cross Blue Shield of Massachusetts will begin offering coverage for an annual mental health wellness exam starting March 31, 2024. This examination can be conducted as part of the annual preventive visit with your primary care provider (PCP) or as a standalone appointment with a PCP or licensed mental health professional.

We are excited to announce the latest addition to the Group Insurance Trust Plan Committee. Please join us in welcoming Chuck Leach, President & CEO, Lee Bank.

On August 4th, 2023, the Massachusetts Bankers Association completed and filed IRS Form 5500 for banks participating in Association sponsored coverages including the Blue Cross Blue Shield of Massachusetts medical, dental, and retiree medical plans as well as the AIG business travel accident insurance.

On October 12, 2022 the Massachusetts Bankers Association (MBA) completed and filed IRS Form 5500 for banks participating in the Association sponsored BCBSMA medical, dental, and Medex plans and AIG business travel accident insurance. Form 5500 is an annual report, filed with the U.S. Department of Labor (DOL) to provide the IRS and DOL with information about the plan's operation and compliance with government regulations. Attached to this bulletin you will find a copy of the Form 5500 for your files.