Producers
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.
While we continue to hear about the rapid growth of Health Savings Accounts (HSAs), there is one feature about Health Flexible Spending Accounts (Health FSAs) that keeps some employees enrolled in this type of consumer-driven account (CDA). That’ s the uniform coverage requirement of Health FSAs.
ERISA Section 607 defines the term group health plan as an employee welfare benefit plan providing “medical care” to participants or beneficiaries:
You did it! You followed our tips for generating leads, and you overcame your prospect’s objections, and now you’ve got a face-to-face meeting with a potential new client. Your hard work is beginning to pay off, but you’re not home-free yet. You still need to nail your sales pitch and turn that potential client into an actual one.
2018 ACA Reporting Requirements
The Internal Revenue Service (IRS) has released draft versions of the forms and instructions for the 2018 reporting year. The reporting, which is required under the Affordable Care Act (ACA), helps the IRS enforce the Individual Mandate, Employer Mandate and verify subsidy eligibility for individuals who obtain coverage through the Health Insurance Marketplace.
The Employer Mandate regulations refer to seasonal employees and seasonal workers, and yes, there is a difference. Let’s break this down as simply as possible by starting with a few refresher points.
The midterm elections will be held on November 6, 2018, and the Affordable Care Act (ACA) will surely be a hot topic on campaign trails. Republicans are expected to continue down a path of conveying their belief that the ACA is ineffective and has driven up healthcare costs. Democrats are expected to point out consumer protections that are included in the ACA, such as coverage for pre-existing conditions and essential health benefits.
For small businesses, a great dental insurance plan makes your business more appealing to new hires — and keeps your employees smiling. In fact, 86% of small business employees say dental benefits are a must-have1.
But not all dental plans are created equal. You want a plan that provides your employees with high-quality, cost-effective coverage, easy access to updated treatments, reliable expertise and more.
How small businesses can use the power of benefits to make employees happy and improve the bottom line.
The Internal Revenue Service (IRS) has revised its frequently asked questions (FAQ) information pertaining to the Employer Mandate. More specifically, the IRS has confirmed that an employer who provides coverage through an association health plan (AHP) has no relevance to the Employer Mandate. An employer isn’t dragged into the Employer Mandate requirements simply because they provide coverage through an AHP. Only employers with 50 or more full-time equivalent employees in the prior calendar year will be subject to the Employer Mandate. Question and answer #18 from the FAQ is shown below.
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