Individuals

Posted August 26th, 2020 in Employers, Producers, Individuals

A date is finally set for the Supreme Court of the United States (SCOTUS) to once again rule on the constitutionality of the Affordable Care Act (ACA). Oral arguments are expected to be heard on November 10, 2020, just one week after the presidential election.

Posted May 14th, 2020 in Employers, Producers, Individuals

The Internal Revenue Service (IRS) recently released Notice 2020-29 and Notice 2020-33 which provide substantial changes to Cafeteria Plans, Health Flexible Spending Accounts (Health FSAs) and Dependent Care Assistance Programs (commonly referred to as Dependent Care FSAs).

Posted April 30th, 2020 in Employers, Producers, Individuals

The U.S. Department of Labor (DOL) has issued guidance that will impact COBRA procedures, special enrollment periods, and claims procedures. The guidance will extend the length of certain time periods applicable to group health plans, disability plans and other welfare plans regulated by the ERISA law. Plan participants and beneficiaries will have additional time to do the following:

Posted April 21st, 2020 in Employers, Producers, Individuals
Health Savings Accounts (HSAs) have been available since 2004. Employees and individuals enrolled in qualified high deductible health plans (HDHPs) can put money into an HSA to pay for medical expenses at a later date. The contributions are tax-deductible, and if money is used to pay for medical expenses, the money can be withdrawn from the HSA tax-free. Unlike Flexible Spending Accounts (FSAs), there is no cap on the amount of money that can be rolled over from one year to the next.
 
Posted March 27th, 2020 in Employers, Producers, Individuals

The economic stimulus bill that we’ve all been hearing about has officially been approved by Congress and was signed into law by President Donald Trump on Friday. This $2 trillion bill will provide stimulus checks to many Americans, increase unemployment benefits for workers and provide low interest loans for many small businesses, among many other things.  

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Posted March 13th, 2020 in Employers, Producers, Individuals

In just a very short period of time, the Coronavirus Disease (COVID-19) is impacting health plans and health care throughout the country. Here are some key examples of recent developments:

Posted December 31st, 2019 in Individuals

Health Savings Accounts (HSAs) allow eligible individuals to put money aside tax-free to pay for out-of-pocket medical expenses, but HSAs work differently than other tax-advantaged accounts. Here are 10 helpful tips and reminders as the year comes to an end.
 

  1. HSA contributions for 2019 can be made up until the tax filing deadline, which is April 15, 2020.
     
  2. The maximum annual contribution to an HSA for 2019 is $3,500 for those covered by a single-only qualified high deductible health plan (HDHP) and $7,000 for those covered by a family HDHP
Posted November 6th, 2019 in Employers, Producers, Individuals

The IRS has released Revenue Procedure 2019-44 which details the 2020 pre-tax limits for the Health FSA and Commuter Plans. These limits are effective for plan years that begin on or after January 1, 2020.

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Posted October 15th, 2019 in Producers, Individuals
The Centers for Medicare & Medicaid Services (CMS) recently announced plans to pilot healthcontingent wellness programs in the individual market, a practice that has been previously prohibited. However, the Affordable Care Act (ACA) included a provision calling for health-contingent wellness programs to be tested in the individual market, and that time has now come.   
 
Posted August 27th, 2019 in Individuals, Producers

The Centers for Medicare & Medicaid Services (CMS) announced earlier this month that plans sold on the Health Insurance Marketplace (Marketplace) will receive quality ratings using a five-star system (with  5 stars representing the highest quality plan).

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