Benefits Buzz

Posted December 4th, 2013 in Producers, Employers, Individuals

Here are three major Affordable Care Act (ACA) deadline changes that have made headlines recently.

1.    Individuals looking for a January 1, 2014 effective date will now have until December 23, 2013 to submit an application and until December 31, 2013* to make their initial premium payment in the public exchange. Additionally, each carrier must decide how they will handle the implementation of this change outside of the public exchange.

Posted November 26th, 2013 in Employers, Individuals

During the holidays, when you are face-to-face with family members, even a “simple” healthcare reform question may land you in the middle of an escalated political debate. You may even be the go-to person for these questions if you are known to be up-to-date with the latest news.

Posted November 25th, 2013 in Producers, Employers, Individuals

The Center for Medicare and Medicaid Services (CMS) made a significant announcement on November 19, 2013 that will give insurance companies the ability to verify subsidy eligibility and directly enroll individuals in a subsidized plan without having to direct them to the Federally Facilitated Marketplace (FFM) as part of the process. This announcement appears to be a way to address some of the technical problems and glitches that HealthCare.gov has been plagued with since its launch on October 1, 2013. 

Posted November 19th, 2013 in Producers, Employers, Individuals

Last week, President Obama announced that Americans can keep individual health insurance policies that they were told will be canceled because they failed to meet requirements established by the Affordable Care Act (ACA).

Posted November 13th, 2013 in Producers, Employers

The U.S. Department of Health and Human Services (HHS) has announced that self-funded health plans will be exempt from the reinsurance fees after the first year. The recent announcement is expected to be published in a forthcoming document with other rule modifications. 

Posted November 7th, 2013 in Producers, Employers, Individuals

The U.S. Department of Treasury recently issued guidance announcing a significant change relating to Healthcare Flexible Spending Accounts (FSAs) that has many positive implications. The Department of Treasury has modified its “use-it-or-lose-it” provision to allow a limited rollover of unused Healthcare FSA funds. Effective immediately, employers that offer a Healthcare FSA program without a grace period have the option of allowing employees to rollover up to $500 of unused funds at the end of the 2013 plan year. 

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