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Tag: ACA
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Officials Provide New ACA Guidance in FAQ #35 | Pennsylvania Employee Benefits
On December 20, 2016, federal officials released FAQs About Affordable Care Act Implementation Part 35 (FAQ #35) in an ongoing series of informal guidance regarding the Affordable Care Act (ACA). This FAQ addresses several topics: Special enrollment rules. Preventive services. Qualified small employer health reimbursement arrangements. A summary of the key points from FAQ #35…
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Federal Employment Law Update – December 2016 | Pennsylvania Benefit Advisors
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President Obama Signs 21st Century Cures Act into Law On December 13, 2016, President Obama signed the 21st Century Cures Act (H.R. 6) into law. The law allows certain small businesses to use qualified small business health reimbursement accounts (HRAs) without Affordable Care Act (ACA) related penalties. Certain limits to the accounts would apply, including…
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New Law Allows Small Employers to Pay Premiums for Individual Policies | PA Benefit Advisors
This week, the U.S. Senate passed the 21st Century Cures Act which includes a provision allowing small businesses to offer a new type of health reimbursement arrangement for their employees’ health care expenses, including individual insurance premiums. The act was previously passed by the House and President Obama is expected to sign it shortly. The…
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IRS Extends Deadline for Employers to Furnish Forms 1095-C and 1095-B | PA Benefit Advisors
On November 18, 2016, the IRS released Notice 2016-70 to extend the due date for employers to furnish Form 1095-C or 1095-B under the Affordable Care Act’s employer reporting requirement. Employers will have an extra 30 days to prepare and distribute the 2016 form to individuals. The due dates for filing forms with the IRS…
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6 Open Enrollment Considerations You Should Keep in Mind | PA Benefit Advisors
What better way to kick off our holiday-season stress than with talk of deductibles, coinsurance and high premiums? Welcome to open enrollment, where employees can re-evaluate their health care options each November. It’s a prime opportunity to secure better benefits and maximize savings; yet open enrollment is often underutilized. “Although it can be one of…
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What Employers Can Expect from the Trump Administration | Pennsylvania Employee Benefits
The U.S. Presidential race win by Donald Trump will impact labor, employment, and HR professionals in the key issues of immigration, paid leave, tax reform, and health care. Significant Shift in Immigration Policy Trump has been vocal about his stance on immigration in regard to deportation and illegal immigration. He also seeks to strengthen U.S.…
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Transitional Reinsurance (TRP) Contribution Form Due November 15 | PA Benefit Advisors
On October 3, 2016, federal officials posted the 2016 Transitional Reinsurance Program Annual Enrollment Contributions Form that health insurers and self-funded plan sponsors (employers) will use to make required payments under the Transitional Reinsurance Program (TRP). The 2016 report is due no later than November 15, 2016. Background The Affordable Care Act (ACA) prohibits insurers…
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The FLSA Overtime Changes and Their Impact on Employee Benefits | PA Benefit Advisors
Most employers should be reviewing payroll budgets and job descriptions to ensure that changes to salaries and job classifications are all in order by the December 1 deadline based on the new overtime exempt salary threshold and other final rule changes to the Fair Labor Standards Act (FLSA). Another area that will be impacted by…
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1094-B and 1095-B – What’s New | PA Employee Benefits Specialist
Abridged from www.irs.gov Filing requirements. Providers of minimum essential coverage are required to file Forms 1094-B and 1095-B for 2015 in accordance with the forms and these instructions to report coverage in 2015. Form revisions. For 2015, Form 1095-B, Part III, was revised to include Covered Individuals Continuation Sheet(s) used when there are more than…
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Marketplace Notices Are Coming | PA Employee Benefits Specialist
www.thinkhr.com Under the Affordable Care Act (ACA), each Health Insurance Exchange (Marketplace) must notify employers when they have an employee who has received a government subsidy to enroll in a health plan through the Marketplace. These notices will begin being sent to employers in the coming weeks and months, either individually or in batches. Because…
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