Compliance (59)
Wednesday, 29 July 2015 15:35
Benefits Impact of Supreme Court Marriage Decision
Written by Kristen Russell
In June, the U.S. Supreme Court ruled that same-sex marriage must be allowed in all 50 states. This has several implications for employee benefit plans, including solving much of the administrative complexity that had resulted from different tax treatment and marriage laws in different states. Here are the key takeaways:…
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The Patient Centered Outcomes Research Institute (PCORI) fee is due July 31, 2015 for employers with any type of self-funded plan and/or a Health Reimbursement Arrangement. The fee helps fund unbiased research that evaluates the clinical effectiveness of medical treatments regardless of the profit potential. This fee is also known…
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As a benefits plan administrator you may have sent or may be thinking about sending your plan documents via email to all your eligible employees, or posting it on your company intranet. The ease of electronic delivery would certainly save time and money, but in doing so, it is important…
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On May 18, 2015 the Internal Revenue Service (IRS) released their inflation-adjusted Health Savings Account (HSA) contribution maximum limits alongside High Deductible Health Plans (HDHP) minimum deductible and out-of-pocket limits for 2016. IRS Revenue Procedure 2015-30 (http://www.irs.gov/irb/2015-20_IRB/ar07.html) shows that 2016 individual HSA contribution maximum is the same as the 2015…
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Administering COBRA seems like it should be an easy, clear cut process and not terribly time consuming. However, there are several common mistakes that are made when administering COBRA that can cost an employer a substantial amount of money. If specific guidelines are not followed, the penalties and taxes for…
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Wednesday, 14 January 2015 17:00
My Employees are Receiving 1095A’s – What Do I Do?
Written by Amy De Lorenzo
Most people do not equate taxes with health insurance, but this is about to change beginning with the 2014 tax filing with the newly required Form 1095-A. In our February 18th compliance webinar, we’ll talk about how you deal with the 1094 and 1095-B and -C requirements for employers, but…
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Tuesday, 14 October 2014 18:00
Reinsurance Fee Reporting Deadline November 15, 2014
Written by Tonya Young
2014 marks the first year of the Reinsurance Fee, which was created by the Affordable Care Act and assessed on health plans to help fund the new state Exchanges for their first three years. The fee was created to help stabilize premiums by making payments to health insurance carriers that…
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Monday, 22 September 2014 07:50
How Well Do You Know Your HIPAA Regulations?
Written by Amy De Lorenzo
HIPAA first went into place in 1996, with the early Privacy and Security Rules going into place in 2003. Since then, many more facets have been added, with the latest major addition going into effect September 23, 2013. Test your knowledge on this critical employer law. 1.What exactly does the…
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The Medicare Modernization Act (MMA) requires Employers with prescription drug coverage to complete two items each year regarding Medicare Part D. The first deadline is October 15th annually, and the other is 60 days from the end of your plan year. These tasks are required regardless of whether your plan’s…
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1. What size groups must comply with COBRA? a. Employers with 20 or more employees working on more than 50% of their typical business days in the preceding calendar year b. Employers with 20 or more employees working on more than 50% of their typical business days during the existing…
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The Affordable Care Act has introduced some new fees and taxes on health insurance carriers and health plans. The Patient Centered Outcomes Research Institute (PCORI) fee is one of these, and was due for the first time in 2013. This fee helps fund unbiased research that evaluates the clinical effectiveness…
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Compliance
On April 24th, 2014 the Internal Revenue Service (IRS) released their inflation-adjusted Health Savings Account (HSA) contribution maximum limits alongside High Deductible Health Plan (HDHP) minimum deductible and out-of-pocket limits for 2015. As usual, there was no change in the $1,000 amount for catch-up contributions for those 55 and older.…
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Title II of the Genetic Information Nondiscrimination Act of 2008 took effect on November 21, 2009. This prohibited employment discrimination on the basis of genetic information, restricted employers from requesting, requiring or purchasing genetic information, and was old news until the regulations were recently updated.
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In November of 2010, the Colorado Division of Insurance issued an order that resulted in the removal of its own long-standing Bulletin B-4.32, effective the following month (December 2010).
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