Producers

Posted June 13th, 2014 in Producers, Employers, Individuals

On June 1, 2014, same-sex marriage became legal in the state of Illinois. As a result, we wanted to revisit marriage as a qualifying event for health insurance coverage and discuss how account-based health plans are impacted.

Posted June 6th, 2014 in Employers, Producers

A recent analysis predicts that 50 million Americans will be covered by Health Savings Account (HSA)-qualified health plans by Jan. 1, 2019up from approximately 11 million today. With the creation of private exchanges spurred on by the Affordable Care Act (ACA), these consumer-driven health plans have been revealed as a crowd favorite.

Posted May 30th, 2014 in Producers, Employers, Individuals

Can an individual be covered by more than one “Flex Plan” at the same time?

Yes, Health Care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs) can be combined in certain circumstances.

Posted May 22nd, 2014 in Producers, Employers, Individuals
On May 16, 2014, a new fine was spelled out by the Department of Health and Human Services (HHS) regarding individuals that knowingly and wilfully provide false information to receive subsidies in an Exchange.
 
Posted May 16th, 2014 in Producers, Employers

As a trusted benefits administrator, Flexible Benefit Service Corporation (Flex) wants to keep you informed on the following:

Federal regulators have recently indicated that they don’t feel the current COBRA notices provide enough information about the Exchanges and the options that COBRA beneficiaries have in the Individual Marketplace.

Posted May 9th, 2014 in Producers, Employers, Individuals

The Department of Health and Human Services (HHS) issued some new guidance on May 2, 2014 as it relates to Special Enrollment Periods and Hardship Exemptions in the individual marketplace. The new guidance has been summarized below:

Posted May 2nd, 2014 in Producers, Employers, Individuals

How do the annual maximum Health Savings Account (HSA) contribution limits apply to an eligible individual with family High-Deductible Health Plan (HDHP) coverage for the entire year if the family HDHP covers spouses or dependent children who also have coverage by a non-HDHP (e.g. Medicare, Medicaid, HMO)?

Posted April 25th, 2014 in Producers, Employers, Individuals

On April 23, 2014, the following limits were released by the Internal Revenue Service (IRS) under Revenue Procedure 2014-30 for Health Savings Accounts (HSAs) in 2015.

These limits are updated annually and reflect cost-of-living adjustments.

HSA contribution limits

$3,350 for individual coverage (increased $50 from 2014)

$6,650 for family coverage (increased $100 from 2014)

Posted April 17th, 2014 in Producers
Congratulations on making it through the craziness of the first individual open enrollment period and small group early renewal process. Some of you may still be finalizing the clean up and reconciliation process for any newly sold business. As you are finishing this task and the weather finally improves it may be tempting to play lots of golf or escape for a long vacation during the Spring/Summer months. This "off-season," however, is the time to remain the most disciplined.
 
Posted April 11th, 2014 in Producers, Employers

On April 1, 2014, President Obama signed into law the “Protecting Access to Medicare Act of 2014.” Although much of the law is designed to fix problems with the Medicare program, the law also included a repeal of the deductible limits that apply to small group health plans. In 2014, the Affordable Care Act (ACA) established deductible limits for health plans offered to small employers (defined as up to 50 employees in most states).

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