Producers

Posted October 4th, 2022 in Employers, Producers

On September 27, 2022, the Centers for Medicare & Medicaid Services released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts. Below is a summary of those numbers:

Posted August 29th, 2022 in Employers, Producers
The Inflation Reduction Act (IRA) signed into law last week included some healthcare provisions that primarily impact Medicare and plans sold on a Health Insurance Marketplace; however, some of the provisions included in the law may indirectly impact employers and group health plans.
 
Posted August 19th, 2022 in Employers, Producers
On August 16, 2022, President Joseph Biden signed a bill into law called the Inflation Reduction Act (IRA). While its name may not imply it, there were some provisions in the bill that impact healthcare and/or health insurance. Here is a summary of some of those provisions:
 
Extension of Enhanced Marketplace Subsidies
 
Posted August 8th, 2022 in Employers, Producers
The Internal Revenue Service (IRS) recently issued Revenue Procedure 2022-34 which includes important details as it relates to Advanced Premium Tax Credits (APTCs) on Health Insurance Marketplaces and “affordable coverage” as it relates to the Employer Mandate for plan years starting in 2023.
 

Advanced Premium Tax Credits (APTCs)

 
Posted August 3rd, 2022 in Employers, Producers
Many health and welfare programs offered by employers are subject to non-discrimination testing as identified in the Internal Revenue Code (the“Code”). The non-discrimination tests are designed to ensure that certain groups of employees are not treated more favorably than other groups of employeesin terms of benefits.
 
Posted July 20th, 2022 in Employers, Producers

The COVID-19 national emergency was set to expire on July 15, 2022; however, a 90-day extension of the national emergency was issued, and the national emergency is now set to expire on October 13, 2022 (absent another extension).

Posted January 11th, 2022 in Employers, Producers

The Consolidated Appropriations Act of 2021 included a provision that requires brokers and consultants to disclose all direct and indirect compensation they expect to receive for group health plans. The disclosure is required when compensation is expected to be $1,000 or more, and the disclosure must be made prior to any contracts entered into, renewed, or extended on or after December 27, 2021. The disclosure requirements are now in effect.

Posted December 14th, 2021 in Producers, Employers

Overview

Health Reimbursement Arrangements (HRAs) are self-funded group health plans that provide tax-free reimbursements to employees and their family members for out-of-pocket healthcare expenses.

Posted December 3rd, 2021 in Employers, Producers

On August 27, 2021, the State of Illinois passed a law called the Consumer Coverage Disclosure Act (CCDA). The CCDA requires a new written disclosure to be provided by every employer who has employees in the State of Illinois and who also provides group health insurance coverage to its employees.

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