Employers

Posted March 10th, 2020 in Employers, Producers

On March 2, 2020, the Supreme Court of the United States (SCOTUS) announced that it would once again hear a case on the Affordable Care Act (ACA) and whether the law is constitutional.

Posted March 4th, 2020 in Employers, Producers

COBRA has been an administrative challenge for employers dating back to 1986 when it first became effective. On the surface, it’s easy to comprehend COBRA and its purpose, but behind the scenes, an employer has a lot of obligations it must account for to ensure compliance with the law. Take this scenario for example:

Posted February 25th, 2020 in Employers, Producers

The Affordable Care Act (ACA) requires two types of reporting:

Posted February 18th, 2020 in Employers, Producers

The Affordable Care Act (ACA) includes several taxes to fund various parts of the healthcare law, such as Medicaid expansion and Health Insurance Marketplace subsidies. Since the ACA became law, there have been debates in Congress about many of the taxes. Some have argued for repeal, some have argued for change and others have argued for extensions of various tax components of the law. 

Posted February 12th, 2020 in Employers, Producers

New SBCs Required in 2021 

The Affordable Care Act (ACA) includes a requirement for most individual and group health insurance plans to provide a Summary of Benefits and Coverage (SBC) document to covered members at various times. The SBC is intended to help people understand their insurance benefits and/or compare plans.
Posted February 4th, 2020 in Employers, Producers

Annual Medicare Part D reporting is required for all employers who provide health benefits with prescription drug coverage. The reporting is an online filing to the Centers for Medicare & Medicaid Services (CMS), and it lets CMS know if the prescription drug coverage available on the employer’s health plan is “creditable.”

Posted January 21st, 2020 in Employers

Consumer-Driven Health Plans (CHDPs) have been steadily gaining in popularity for several years now. According to the Society for Human Resource Management (SHRM) 2018 Annual Benefits Report, 40% of the employers surveyed now offer a CDHP to their employees. SHRM defines a CDHP as a Health Reimbursement Arrangement (HRA) or a Health Savings Account (HSA) paired with any underlying medical plan.

Posted November 27th, 2019 in Employers, Producers
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 November 19th, 2019 in Employers, Producers

As work and life continue to blend and unemployment remains low, the competition for employee talent is intense. Small businesses are seeking solutions to help their companies stand out as they tackle the challenge of attracting, engaging, and retaining employees.

Strategic benefits can play a pivotal role.

Posted November 13th, 2019 in Employers, Producers

Premium Only Plans (POP) can generally be defined as a type of Cafeteria Plan where the only pre-tax benefit available to employees are for those of insurance premiums. When non-taxable benefits are involved, the IRS will usually have some strict rules in place that must be followed.

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