Benefits Buzz
Posted March 27th, 2018 in Employers, Producers, Individuals
On Monday, March 5, 2018, the IRS published Internal Revenue Bulletin (IRB) 2018-10 that contains Revenue Procedure (Rev. Proc.) 2018-19.
Effective for calendar year 2018, the family contribution limit for Health Savings Accounts (HSAs) has been lowered to $6,850 from the previously set amount of $6,900.
There has been no change in the individual contribution limit of $3,450 or the catch-up contribution limit of $1,000 for calendar year 2018.
Author: Larry Cassman
Title: Sales Manager - Individual & Medicare Sales
Title: Sales Manager - Individual & Medicare Sales
Posted March 22nd, 2018 in Producers
If you make your living selling individual health insurance policies, then you know the Affordable Care Act (ACA) has wreaked havoc on the individual market. With skyrocketing premiums, narrowing carrier networks, commissions being cut and some carriers exiting the market altogether, the future seems uncertain.
As a benefits professional, you know that navigating the benefits industry can sometimes be a tricky endeavor. Let’s face it; employee benefits can be confusing—even for those of us who deal with this stuff for a living. Whether you’re a Human Resource Manager, an insurance agent or benefits consultant, people are counting on you to have all the answers. Flex is here to make sure you get them.
Posted March 13th, 2018 in Producers, Employers, Individuals
The Idaho Test – Last Thursday, the Centers for Medicare and Medicaid Services (CMS) shot down the state of Idaho’s plan to allow for the sale of health insurance plans which don’t comply with the Affordable Care Act (ACA). Idaho officials wanted less expensive plans to be available for purchase in their state, but these plans could use medical underwriting and wouldn’t have to cover all ten of the essential health benefits.
The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers who offer health and welfare benefits to maintain and distribute Summary Plan Descriptions (SPDs) to all plan participants. This SPD must include certain disclosures and information, such as when the employer may amend or terminate the plan(s).
Posted March 6th, 2018 in Producers, Employers, Individuals
In 2012, a lawsuit challenging the constitutionality of the Affordable Care Act (ACA) found its way all the up to the U.S. Supreme Court. At the time, an argument was made that the Individual Mandate was not constitutional. The Individual Mandate requires most Americans to have health insurance or pay a penalty, and this provision has been considered the main crutch that has kept the ACA standing.
