Benefits Buzz

Posted January 9th, 2015 in Producers, Employers
The IRS has issued proposed regulations that will introduce a new excepted benefit available to some employees who purchase individual market coverage. Excepted benefits are exempt from most of the requirements and obligations under the Affordable Care Act (ACA).  
 
Posted December 19th, 2014 in Producers, Employers, Individuals
The U.S. House of Representatives and Senate have both voted and approved an extension of more than 50 different tax provisions that expired at the end of 2013. The actions taken would retroactively extend these tax provisions for 2014, but it does not extend them into 2015.  
 
Posted December 12th, 2014 in Producers, Individuals
Earlier this year the IRS released three revenue procedures (2014-46, 2014-37, 2014-41) which provide guidance to individuals on their obligation to maintain minimum essential coverage and includes information on subsidies available through the Health Insurance Marketplace (Exchange).  
 
Posted December 5th, 2014 in Producers, Employers
The High Cost Employer-Sponsored Health Coverage Excise Tax, more commonly known as the Cadillac Tax, is scheduled to take effect in 2018. The Cadillac Tax is described as an attempt to reduce health care usage and costs by encouraging employers to offer health plans that are more cost effective and that engage employees in the cost of care.  Experts estimate that the tax will raise $80 billion over a 10 year time period and will finance various components of the Affordable Care Act (ACA).
 
Posted November 26th, 2014 in Individuals
Here's an example eligible expenses that someone with a Health Care Flexible Spending Account (FSA) might encounter on Thanksgiving Day:
 
6:00 AM Wakes up
8:30 AM Picks up prescription medicine* from a local drugstore to be ready for anything
9:15 AM Starts preparing the side dishes
Posted October 31st, 2014 in Producers, Employers
Effective October 31, 2014, the Centers for Medicare & Medicaid Services (CMS) Office of e-Health Standards and Services (OESS), the division of the Department of Health & Human Services (HHS) that is responsible for enforcement of compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA) standard transactions, code sets, unique identifiers and operating rules, announces a delay, until further notice, in enforcement of 45 CFR 162, Subpart E, the regulations pertaining to health plan enumeration and use of the Health Plan Identifier (HPID) in HIPAA transactions adopted in the HPID final rule (CMS-0040-F). 
 
This enforcement delay applies to all HIPAA covered entities, including healthcare providers, health plans, and healthcare clearinghouses.

Tag Cloud

Archives

Enter Your Email

Close
Subscribe
Never miss out on blog posts
with the latest news and updates.