ACA

Posted August 4th, 2020 in Employers, Producers

The Internal Revenue Service (IRS) recently issued Rev. Proc. 2020-36 which includes details on the minimum required contribution percentage in determining whether employer-sponsored health coverage is affordable. In 2021, employer-sponsored health coverage will be considered affordable if an employee has to pay no more than 9.83% (an increase of 0.05% from 2020) of their income for such coverage.

Posted June 9th, 2020 in Employers, Producers

Health Savings Account News

You may have previously heard that the 2019 federal tax filing deadline was extended until July 15, 2020. In the event you were unaware, contributions to Health Savings Accounts (HSAs) for the prior year can be made up until the tax filing deadline. The tax filing extension is impactful to HSAs for two reasons:

Posted April 28th, 2020 in Employers, Producers

As a reminder, the Affordable Care Act (ACA) created a research institute known as the Patient-Centered Outcomes Research Institute (PCORI). The goal of PCORI is to help patients and those who care for them make better-informed decisions about healthcare choices.

Posted April 6th, 2020 in Producers

Millions of Americans have already lost their jobs due to the coronavirus crisis and some experts say the worst is yet to come. According to a recent Federal Reserve estimate, the coronavirus economic freeze could cost 47 million jobs and send the unemployment rate past 32%.

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 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 September 17th, 2019 in Employers, Producers

The Affordable Care Act (ACA) created a research institute known as the Patient-Centered Outcomes Research Institute (PCORI). The goal of PCORI is to help patients and those who care for them make better-informed decisions about healthcare choices. PCORI is funded by temporary fees which are charged to health plans. The following information is designed to help employers understand their upcoming payment obligations in 2020.

Posted June 11th, 2019 in Employers, Producers

The Employer Mandate requires applicable large employers (ALEs), which are defined as employers with 50 or more full-time equivalent employees in the preceding year to offer health insurance to full-time employees. Generally, at least 95% of full-time employees must be offered health insurance. 

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