health coverage

Posted May 22nd, 2015 in Producers, Employers, Individuals

The Affordable Care Act (ACA) established a maximum out-of-pocket limitation for single and family coverage. The limit established for 2016 is $6,850 for single coverage and $13,700 for family coverage. The Department of Health and Human Services (HHS) issued an FAQ document on May 8, 2015 which indicates a health plan that covers a family cannot impose an out-of-pocket maximum of more than $6,850 for any single family member covered under the plan.

Posted February 23rd, 2015 in Employers, Producers

The IRS has released the final version of the forms and instructions as it relates to the new employer reporting requirements associated with the Employer Mandate and other Affordable Care Act (ACA) provisions. The forms are identical to the draft versions that were released last summer, but there have been revisions made to some of the instructions. The forms and instructions can be accessed below:

Section 6055 reporting (used to report which individuals are covered by the employer sponsored plan)

Posted December 5th, 2014 in Producers, Employers
The High Cost Employer-Sponsored Health Coverage Excise Tax, more commonly known as the Cadillac Tax, is scheduled to take effect in 2018. The Cadillac Tax is described as an attempt to reduce health care usage and costs by encouraging employers to offer health plans that are more cost effective and that engage employees in the cost of care.  Experts estimate that the tax will raise $80 billion over a 10 year time period and will finance various components of the Affordable Care Act (ACA).
 
Posted May 8th, 2013 in Individuals, Employers, Producers

The Center for Medicare and Medicaid Services (CMS) issued a statement on April 30, 2013 that the public exchange applications, officially referred to as the Marketplace Consumer Applications, have been revised.

The Invidual Short Form is now just three pages in length. The Family Form is also said to have been reduced by about two-thirds its original length.

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