Rob Report - April

Rob Mitchell
Jun 22, 2024
1 min read

Updated: Jul 11, 2024

Hi Friends,

Yesterday, if you traveled to the path of totality for the eclipse, you were in for an unforgettable experience. I recall watching the 2017 eclipse in Rexburg, Idaho. Experiencing twilight with dropping temperatures and a black hole in the sky reminded me of our tiny place in the vast universe. Yet, it’s our small actions that help to define us and build our community.

One of the most important ways our actions show up at IMA is in our commitment to being a purpose-driven organization that seeks to make an impact beyond the bottom line. Below is a summary of our 2023 Purpose Report:

▪ The introduction of a new, purpose-driven partnership with Syntrinsic

▪ $880,000 in grants awarded to 100 nonprofits by the IMA Foundation

▪ $995,000 raised through IMA Foundation events, funding future grant cycles

▪ $160,000 in associate donations to qualified nonprofits, matched by the IMA Foundation

▪ More than 11,700 associate volunteer hours logged

▪ Five DEI Speaker Series events

▪ The launch of a Supplier Diversity Program

▪ The formation of two, new Associate Resource Groups

▪ New professional development and wellbeing programs

▪ The expansion of IMA’s Green Teams

▪ Continued investment in LEED-certified properties and execution of IMA’s Sustainability Real Estate Plan

▪ Recognition received through industry, philanthropic and “Best Places to Work” awards

Compliance Update

▪ Cammyo’s Compliance Talk: Episode 36: IRS Warnings, FDA’s Approval for Wegovy, and More. . . On this episode of Ask Michelle, Michelle is joined by special guest KC Rippstein, Compliance Practice Lead at IMA. They provided updates on the San Francisco HCSO Annual Reporting Form, the FDA's approval of Wegovy for cardiovascular disease prevention, and IRS Warnings regarding Employee Retention Credits (ERC) and FICA wellness savings programs.

▪ The Department of Labor has announced updated penalty amounts for violations assessed after January 15, 2024

▪ The Department of Labor released an updated version of the Marketplace Exchange Notice to be distributed to new hires.

▪ CA Pay Data Reporting is due May 8th. Check out the updated FAQs page for more.

▪ RxDC Reports are due June 1, 2024 for self-funded group health plans. Fully insured plans may be required to submit data to their carrier by a carrier-assigned due date to satisfy the requirements.

Trending Topics

▪ GE HealthCare offers three trends that could reshape the future of healthcare and help improve the patient, clinician, and provider experience.

▪ McKinsey article discusses how price transparency could affect US healthcare markets: Price transparency rules, and complementary industry innovations, could better align US healthcare cost and quality.

▪ New Research About Health Savings Account Usage Finds Balances Increasing Despite Higher Spending.

Network Negotiations

▪ Blue Shield and Providence St. Joeseph are working to negotiate their contract. Without reaching a renewal agreement, the current contract between Blue Shield and Providence St. Joseph Health System is set to end May 31, 2024. As new developments occur regarding the negotiations, we will keep you informed.

▪ Anthem and UC Health System have come to an agreement (in principle), and they’ve mutually extended contracts through April while they work out the details.

SoCal Events

▪ 4/10, 8:30 am – 4:45 pm: HR Star Los Angeles

-Los Angeles – LA Convention Center (Free to organizations with 100+ EEs – registration closed)

▪ 4/11, 5:30 pm – 8 pm: NHRA OC Executive of the Year Gala

-NHRA Orange County

-Irvine - Marriott (individual Ticket $230, Table $2,300)

▪ 4/16, 9:00 am – 10:00 am or 4/17, 12 pm – 1:00 pm: Harnessing the Power of AI for HR

-NHRA Los Angeles

-Virtual ($149 non-member, 50% off for members)

▪ April 18, 11:30 am - 1:30 pm: PIHRA Long Beach – Solving the Mystery of Employee Retention

-PIHRA Long Beach

-Long Beach – The Grand ($25 - $50 depending on Registration Type)