Employers

Posted February 5th, 2016 in Producers, Employers, Individuals
2016 will be the first year that most Americans will receive a Form 1095. As you would suspect, several people are wondering which forms will be provided and when. Here is some basic information to help answer those questions.  
 
Posted January 29th, 2016 in Producers, Employers, Individuals

Insurance companies are concerned that some people are abusing the Special Enrollment Period (SEP) that is available in the individual marketplace. They have indicated at least some people are delaying enrollment in coverage until they get sick, applying for coverage only once they need it, and then canceling the coverage after treatment. They further argue that there aren’t enough rules in place to verify if a person actually experienced a qualifying event which would trigger a SEP.

Posted January 22nd, 2016 in Producers, Employers
The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers, who offer health and welfare benefits, to provide a written plan document to participants. The plan documents that are issued by insurance companies and other benefits providers are typically standardized and don’t include all of the customized, employer-specific language that the ERISA law requires.
 
Posted December 31st, 2015 in Producers, Employers
The New Year is expected to bring more regulatory changes which will impact employers and group health plans alike. Here are five predictions of things that are likely to happen in 2016.
 
    Posted December 30th, 2015 in Producers, Employers
    The Internal Revenue Service (IRS) recently issued Notice 2016-4 which extends the deadlines to complete the new Affordable Care Act (ACA) reporting requirements. The reporting is used to help the IRS enforce the Individual and Employer Mandates, and it’s also used to help the IRS administer subsidies in the Exchange. It applies to insurers and certain employers effective for the 2015 calendar year and moving forward. The new deadlines are as follows:
     
      Posted December 23rd, 2015 in Producers, Employers, Individuals
      You may have heard that President Obama recently signed into law the Consolidated Appropriations Act of 2016, a $1.1 trillion spending bill, avoiding a shutdown and funding the federal government through September 30, 2016. The President also signed the Protecting Americans from Tax Hikes (PATH) Act of 2015 which provides nearly $700 billion in tax breaks. Here’s what it means to the Affordable Care Act (ACA) and transit reimbursement plans.   
       
      Cadillac Tax
      • The Cadillac Tax has been delayed by two years until 2020.
      Posted December 18th, 2015 in Producers, Employers, Individuals

      On December 11, 2015, the Department of Health and Human Services (HHS) posted guidance for states interested in seeking a State Innovation Waiver under Section 1332 of the Affordable Care Act (ACA).

      Posted December 10th, 2015 in Producers, Employers, Individuals
      Below is a list of some key Affordable Care Act (ACA) changes and facts that will be effective in 2016:
       
      1. The Individual Mandate penalties increase to $695 per adult ($347.50 per child) or 2.5% of household income, whichever is greater. 
      2. The Employer Mandate expands to include all employers who have 50 or more employees. 
      3. The Employer Mandate offer rate increases from 70% to 95%. 
      4. Employer reporting related to the offer of coverage is due for the first time during Q1 2016. 
      Posted December 4th, 2015 in Producers, Employers, Individuals
      The Senate needed 51 votes to pass the Restoring Americans' Healthcare Freedom Reconciliation Act of 2015 (HR 3762), a budget reconciliation bill which would repeal several key parts of the Affordable Care Act (ACA).  They got 52 when they voted on December 3rd.  The bill, which was previously passed by the House of Representatives (House), was approved by the Senate with some amendments.  That means the bill will have to go back to the House for another vote, where most expect it will be passed.
      Posted November 25th, 2015 in Producers, Employers

      You may have thought the penalty for applicable large employers who fail to offer minimum essential coverage was $2,000 per employee. You may have also thought that if you offered coverage, but it was unaffordable and/or didn’t provide minimum value, then the penalty was $3,000 per employee who waived coverage and received a subsidy in the Exchange.

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