Articles
IRS Releases HSA and HDHP Limits for 2014
Sunday, May 5, 2013
The IRS has released the 2014 limits affecting HSAs and High Deductible Health Plans (HDHPs). The minimum required deductibles will not change from the 2013 limit, but the HSA contribution limits and the HDHP out-of-pocket (OOP) maximums will increase for 2014.
Modifications to the HIPAA Privacy and Security Rules Released
Thursday, April 25, 2013
The Department of Health and Human Services (HHS) has issued regulations modifying the Health Insurance Portability and Accountability Act (HIPAA) privacy, security, and enforcement rules. The changes strengthen the privacy and security protection for individuals’ health information, modify the rule for breach notifications, and extend HIPAA compliance obligations to additional entities.
Small Employer “Choice Option” Delayed on Federal SHOP Exchange
Thursday, April 4, 2013
In more Employee Benefits Day news, the Department of Health and Human Services (HHS) has announced that one of the options planned for small group insurance purchased through federally operated exchanges will be delayed until 2015. Under what is referred to as the “choice option,” small employers will be able to select a level of coverage (i.e. bronze, silver, gold, or platinum coverage tier), and participating employees would be allowed to choose from any carrier offering coverage within that tier.
Is Your Organization Part of a Controlled Group? Common Controlled Group Basics
Monday, March 11, 2013
The Affordable Care Act (ACA) has placed new emphasis on the need to determine when and if related organizations must be treated as a single employer for purposes of meeting various ACA requirements. Simply setting up different companies under separate tax ID numbers does not relieve related employers from being treated as a single employer under controlled group rules.
Employer Plan Cost Sharing Rules and a Minimum Value Calculator are Released
Thursday, February 28, 2013
The IRS and the Department of Health and Human Services (HHS) have released a preliminary version of an employer plan minimum value (MV) calculator. The MV calculator is designed to assist employers in determining whether an employer-sponsored health plan meets minimum value requirements contained in the Affordable Care Act (ACA).
Health Plan Fees to Fund Research on Patient-Centered Outcomes
Friday, February 8, 2013
The Affordable Care Act (ACA) set up a new nonprofit entity, the Patient-Centered Outcomes Research Institute, to fund and support clinical effectiveness research. This research will be partially funded by health insurance companies and sponsors of self-insured health plans.
Fiscal Cliff Legislation Impacts Qualified Transportation Benefits
Wednesday, February 6, 2013
The American Taxpayer Relief Act of 2012 (ATRA), passed by Congress and signed into law by President Obama on January 2, 2013, brought the country back from the “fiscal cliff,” and within its pages also made changes to a benefit offered by many employers: qualified transportation benefits.
Guidance Issued on the Qualification for Tax Credits and Individual Mandate Tax Liability
Tuesday, February 5, 2013
The IRS has issued an amendment to final regulations originally issued May 23, 2012 regarding qualification for a premium tax credit (premium assistance) when purchasing individual health insurance through a public exchange. In the case of family members who are eligible for employer sponsored insurance (ESI), affordability for family members will be based on the employee’s required contribution for self-only coverage (i.e. employee only coverage), not the required contribution for family coverage.
Department of Labor Delays the Employer
Thursday, January 24, 2013
As anticipated, based on prior informal comments, the Department of Labor (DOL) has delayed the employer requirement to send a “Notice of Exchange” to employees.
The Affordable Care Act (ACA) amended the Fair Labor Standards Act (FLSA) requiring employers to send a notice describing certain elements of exchanges and subsidy eligibility to employees by March 1st, 2013. However, citing a number of factors, the DOL has delayed the requirement until after guidance is issued later in 2013.
Department of Labor Expected to Delay the Employer
Friday, January 18, 2013
In welcome news for employers, the Department of Labor (DOL) has stated in informal comments that they plan to delay the employer requirement to send a “ Notice of Exchange” to employees.
Affordable Care Act Employer Planning Guide
Wednesday, January 9, 2013
Please download document. This summary is provided as an overview of some of the provisions of the Patient Protection and Affordable Care Act (PPACA). For more details or questions, please contact your Parker, Smith & Feek Benefits Team.
IRS Employer Shared Responsibility Rules
Tuesday, January 8, 2013
The IRS has released additional guidance related to the Affordable Care Act (ACA) employer shared responsibility rules. The guidance includes proposed regulations published in the Federal Register on Wed.
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