Employers

Posted July 25th, 2013 in Employers, Producers

By this time you have probably already heard that the Employer Mandate has been delayed until 2015. In simple terms, no employer will be penalized in 2014 for failing to offer health insurance (or failing to offer affordable health insurance).

Here are 5 key ACA items for employers to know.

Posted July 10th, 2013 in Employers, Producers

The initial Patient-Centered Outcomes Research Institute (PCORI) fee for plan years ending after September 30, 2012 will be payable by July 31, 2013. Employers are required to pay this fee on plans that are considered to be self-insured.

Insurance companies will pay the PCORI fee on fully insured plans. However, the updated Form 720 in which the fees are paid gives the impression that employers are also responsible for this fee on fully insured plans.

Posted July 8th, 2013 in Individuals, Employers, Producers

Section 3210 of the Affordable Care Act (ACA) required nominal cost sharing to be added to Medicare Supplement Plans C & F. Under the current structure these Medicare Supplement plans eliminate nearly all of the cost sharing that is associated with Original Medicare.

It has been a common belief by many people that Plans C & F cause excessive and unnecessary utilization as a result of the limited cost sharing. The expectation was that Section 3210 would modify Plans C & F to include some form of a front-end deductible to encourage more appropriate uses of physician services.

Posted July 5th, 2013 in Individuals, Employers, Producers

Millions of Americans Countdown to October 1st

Less than 3 months from today marks the start of the 6 month open enrollment period under the Affordable Care Act (ACA). As officials scramble to promote the new healthcare reform enrollment season, we at Flexible Benefit Service Corporation (Flex) have been keeping up-to-date with the fluid changes of rules and regulations contained within the growing law.

Posted July 3rd, 2013 in Individuals, Employers, Producers

The U.S. Department of Treasury announced on Tuesday that the Employer Mandate will be delayed until 2015. This rule is also commonly referred to as the Employer Shared Responsibility requirement or the Pay or Play provision.

The Employer Mandate was set to impose financial penalties starting in 2014 on employers with 50 or more full-time equivalent employees that failed to offer health insurance to employees, as well as those employers that offered health insurance that was considered unaffordable.

Posted June 27th, 2013 in Employers

Now that you have returned to your office after the SHRM 2013 Annual Conference in Chicago, Flex hopes you have gotten a chance to:

• Check your emails
Get some shuteye
• Sort through your goodie bag of giveaways and sales materials
• Add your new HR colleagues on LinkedIn

Posted June 5th, 2013 in Individuals, Employers, Producers

Most health insurance professionals have some familiarity about the government subsidies that will be available next year to eligible individuals. These subsidies will reduce insurance premiums and out-of-pocket medical expenses for those that qualify, and will only be available to individuals that enroll in coverage through health insurance marketplaces, also known as the public exchanges.

Posted May 21st, 2013 in Employers, Producers

Last week, Senator Ben Cardin (D-MD) and Senator Mike Enzi (R-WY) introduced S 9.66, the Medical FSA Improvement Act, to eliminate the Use-It or Lose-It rule by allowing individuals to cash-out unused Flexible Spending Account (FSA) balances with the amounts treated as taxable income.

View the legislative language >>

What could this mean for Americans?

Posted May 16th, 2013 in Employers, Producers

Most employers will be required to provide a written notification to employees in regards to the ability to access coverage through the new Health Insurance Marketplaces, also known as the exchanges. Even employers that don't provide coverage to their employees will be required to provide this written notification.

Posted May 8th, 2013 in Individuals, Employers, Producers

The Center for Medicare and Medicaid Services (CMS) issued a statement on April 30, 2013 that the public exchange applications, officially referred to as the Marketplace Consumer Applications, have been revised.

The Invidual Short Form is now just three pages in length. The Family Form is also said to have been reduced by about two-thirds its original length.

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