Employee Benefits

Posted September 19th, 2016 in Producers, Employers, Individuals
Employers must provide a written notice on an annual basis to any Medicare-eligible individuals who are covered under a group health plan that includes prescription drug coverage. The notice is required to include information as to whether the prescription drug coverage is considered to be creditable. In other words, is the prescription drug coverage at least as good as the standard Medicare Part D plan? 
 
Posted September 6th, 2016 in Producers, Employers, Individuals

The Affordable Care Act (ACA) continues to evolve. Here are 10 changes expected to take effect in 2017. 

Posted August 22nd, 2016 in Producers, Employers
By now, you’ve probably heard about the Employer Mandate on several different occasions. Without reiterating all of the specific details, applicable large employers (ALEs) must offer health insurance coverage to full-time employees that has minimum value and is considered affordable or risk paying penalties.
 
Posted August 15th, 2016 in Producers, Employers
If you are an employer who offers a group health plan to employees who reside in the following states, then the Department of Labor (DOL) requires you to provide a premium assistance notice to employees who are eligible for the group health plan and who are also eligible (or may become eligible) for Medicaid, including the employees children who are also eligible (or may become eligible) for the Children’s Health Insurance Program (CHIP): 
 
Posted May 10th, 2016 in Producers, Employers
What happens to beneficiaries who are enrolled in COBRA when a merger or acquisition occurs?
 
The Internal Revenue Service (IRS) has some rather thorough and complex guidelines that address COBRA issues when business reorganizations occur, including mergers and acquisitions. In an effort to simplify an otherwise complex situation, we can generally break down the guidance as follows:
 
    Posted April 11th, 2016 in Producers, Employers
    Originally posted on January 2, 2015 and updated on April 10, 2015, June 19, 2015 and April 11, 2016.
     
    Posted February 19th, 2016 in Producers, Employers

    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. Now, whenever non-taxable benefits are involved, the IRS will usually have some strict rules in place that must be followed. For Cafeteria Plans, these are referred to as non-discrimination rules, and these rules are in place to ensure the plan doesn’t discriminate in favor of highly compensated and/or key employees.

    Posted January 22nd, 2016 in Producers, Employers
    The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers, who offer health and welfare benefits, to provide a written plan document to participants. The plan documents that are issued by insurance companies and other benefits providers are typically standardized and don’t include all of the customized, employer-specific language that the ERISA law requires.
     
    Posted October 23rd, 2015 in Producers, Employers

    The Protecting Affordable Coverage for Employees (PACE) Act, signed into law by President Obama on October 7, 2015 gives states the ability to continue to determine the size of their small group market rather than conforming to a national standard.

    Most states currently define their small group market as employers with up to 50 employees, but the Affordable Care Act (ACA) was set to expand that definition in 2016 to include employers with up to 100 employees. The PACE Act allows each state to independently decide what small group market definition makes the most sense.

    Benefits Buzz

    SUBSCRIBE TO THE FLEX BLOG

    Tag Cloud

    Archives

    Stay Connected