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Tag: ACA
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Small or Large Employer? | PA Benefits Specialist
How do I know if I am a small or large employer? Why does it matter? Abridged from www.irs.gov An employer’s size is determined by the number of its employees. Employer benefits, opportunities and requirements are dependent upon the employer’s size and the applicable rules. Generally, an employer with 50 or more full-time employees or…
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New ACA Guidance | Duncansville Benefits Broker
Abridged from www.thinkhr.com On April 20, 2016, the Departments of Labor, Health and Human Services, and the Treasury released the 31st set of Frequently Asked Questions (FAQs) on the implementation of the Affordable Care Act (ACA) and other health plan-related laws. The FAQs address questions on preventive services, coverage rescissions, mental health parity, and more.…
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When are the ACA forms due? | Duncansville Benefits Broker
www.aatrix.com The ACA forms follow the same guidelines as the W2 and 1099 regulations. The employee copy, 1095-B and/or 1095-C will need to be provided to them in either paper or electronic copy, by February 1st. If your business is filing less than 250 forms, and choosing to print, the due date is February 29th.…
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IRS Issues 2016 HSA Contribution Limits | Duncansville Benefits Broker
By Stephen Miller CEBS The Internal Revenue Service (IRS) announced limits for 2016 on contributions to health savings accounts (HSAs) and for out-of-pocket spending under high-deductible health plans (HDHPs) linked to them. In Revenue Procedure 2015-30, issued May 5, 2015, the IRS provided the inflation-adjusted HSA contribution and HDHP minimum deductible and out-of-pocket limits, effective…
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IRS Provides Major Delay in 6055 and 6056 Reporting | PA Benefits Specialist
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance, while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have…
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COBRA and the Affordable Care Act | Pennsylvania Employee Benefits
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires employers to offer covered employees who lose their health benefits due to a qualifying event to continue group health benefits for a limited time at the employee’s own cost. COBRA provisions are found in the Employee Retirement…
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Agencies Issue Final Rule on Grandfathered Health Plans and Other Initiatives | PA Benefits Broker
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Federal agencies recently issued a final rule that essentially combined a variety of interim final rules and non-regulatory guidance on a variety of Patient Protection and Affordable Care Act (ACA) initiatives such as grandfathered health plans, preexisting condition exclusions, internal and external appeals, rescission’s of…
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Proposed Benefit Payment and Parameters Rule Released | PA Employee Benefits
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Federal agencies have released the proposed rule for the 2017 Benefit Payment and Parameters. Among other items, it provides updates and annual provisions relating to: Risk adjustments, reinsurance, and risk corridors programs Cost-sharing parameters and cost-sharing reductions User fees for Federally-Facilitated Exchanges (FFEs) The standards…
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Cadillac Tax – Should employers be making changes now? | Duncansville Employee Benefits
By Elizabeth Kay, Compliance & Retention Analyst AEIS Advisors A UBA Partner Firm The Affordable Care Act (ACA) has brought about many changes in employee benefits. Plans have been eliminated, benefits added, rules changed, and rules have been delayed. The ACA has always been a heavily debated topic between the Republicans and Democrats, and now…
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DOL Issues FAQ on Mental Health Parity and ACA Market Reform Provisions | Duncansville Employee Benefits
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors The Department of Labor (DOL) recently provided an informational FAQ relating to the Mental Health Parity and Addiction Equity Act (MHPAEA) and Patient Protection and Affordable Care Act (ACA) market reform provisions. Non-grandfathered group health plans and individual or group market health insurance must cover…
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