HRAs

Posted June 15th, 2016 in Producers, Employers
In part one and part two of this series, we examined how employees are increasingly responsible for their own healthcare costs and have adjusted their expectations accordingly. We conclude this series with an important announcement:
 
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 May 15th, 2015 in Producers, Employers
The third installment of the Patient-Centered Outcomes Research Institute (PCORI) fees will be due on July 31, 2015. As its name suggests, PCORI is a research institute, and it was created by the Affordable Care Act (ACA) as a way to improve clinical effectiveness. It is partially funded by fees charged to health plans. Here is information and some reminders about the upcoming fee that is due.
 
  • The fee is paid on the average number of covered lives for the plan year ending in 2014.
Posted January 9th, 2015 in Producers, Employers
The IRS has issued proposed regulations that will introduce a new excepted benefit available to some employees who purchase individual market coverage. Excepted benefits are exempt from most of the requirements and obligations under the Affordable Care Act (ACA).  
 
Posted October 31st, 2014 in Producers, Employers
Effective October 31, 2014, the Centers for Medicare & Medicaid Services (CMS) Office of e-Health Standards and Services (OESS), the division of the Department of Health & Human Services (HHS) that is responsible for enforcement of compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA) standard transactions, code sets, unique identifiers and operating rules, announces a delay, until further notice, in enforcement of 45 CFR 162, Subpart E, the regulations pertaining to health plan enumeration and use of the Health Plan Identifier (HPID) in HIPAA transactions adopted in the HPID final rule (CMS-0040-F). 
 
This enforcement delay applies to all HIPAA covered entities, including healthcare providers, health plans, and healthcare clearinghouses.
Posted July 25th, 2014 in Producers, Employers

The Affordable Care Act (ACA) created the Patient-Centered Outcomes Research Institute (PCORI) as a way to help improve clinical effectiveness. The research institute is partially funded by fees charged to health plans, including some Health Reimbursement Arrangements (HRAs) and some Flexible Spending Accounts (FSAs). The fees are payable over a seven year time period and started for the first time last year.

The next round of PCORI fees are due to the IRS by July 31, 2014 and are payable via Form 720 by applicable employers for plan years ending in 2013

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 January 22nd, 2014 in Producers, Employers

An employer can be fined up to $100 per day for every employee that had a waiting period in excess of 90 calendar days.

The Affordable Care Act (ACA) imposes a new rule that group health plans cannot have a waiting period of more than 90 calendar days.

Posted September 25th, 2013 in Producers, Employers, Individuals

New guidance was released on September 13, 2013 that applies to Health Reimbursement Arrangements (HRAs) and other employer healthcare arrangements. Much of the guidance impacts employers that want to provide reimbursements to employees to help pay for individual health insurance policy premiums. Many employers have given this idea some consideration instead of offering a traditional group health plan to reduce their costs.

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