PPACA: It’s Oct 2 – Now what?
October 1 was a very significant date for the implementation of PPACA as the individual exchanges went live. However, there were reports from many states with problems with the rollout and not all exchanges were activated on schedule. Both the online small business markets known as SHOP exchanges and the Spanish language exchange are delayed. […]
Reminder: Medicare Part D Creditable Coverage Notice Due by October 15th
With all the attention to the ACA requirements for 2013 and 2014 it’s easy to lose sight of other benefit and human resource requirements. The Medicare Part D Creditable Coverage Law affects all employer-sponsored group health plans. Entities are required to notify Medicare eligible policyholders whether or not their prescription drug coverage is creditable. Creditable […]
IRS Clarifies PEOs Position on Eligible Employer-Sponsored Plans
Final IRS regulations clarified PEOs can offer eligible employer-sponsored coverage on behalf of an employer. In the introductory statement to the final regulations it unambiguously states that organizations such as PEOs can offer coverage under an eligible employer-sponsored plan on behalf of an employer, yet not be viewed as the employer by reason of offering […]
Exchange Notice Deadline is Oct 1 – What you need to know
Employers must notify employees about health insurance available through state and federal exchanges by October 1, 2013. Who gets notified You must send a notice to all full- and part-time employees, whether or not they are on your group health plan. You do not have to notify employees’ dependents or others who are eligible for […]
Payroll Vendors Play Critical Role In ACA Analysis
Payroll vendors and PEO providers have all the information needed to run the critical analyses need to comply with the complexities of PPACA. Your companies partnership with your payroll or PEO vendor should equip you with tools to help consult and support you through the many phases of the PPACA. While some providers offer insight […]
Delay in ACA Employer Mandate: Opportunity to Regroup
Not All ACA 2013 Tasks Postponed Don’t be fooled! Not all aspects of healthcare reform are postponed. Employers face other compliance requirements during or by the end of 2013. Examples: Reducing waiting times for plan eligibility to no more than 90 days; Complying with the rules for the Patient-Centered Outcomes Research Institute (PCORI) fee; and […]
Medical Loss Ratio (MLR) Rebates
Checks will soon be going out to groups from the insurance carriers that represent a rebate of premiums on health insurance costs. Under PPACA Health Care Reform insurance carriers are required to adhere to certain Medical Loss Ratio (MLR) guidelines. If a group’s particular MLR is lower than specified thresholds, the carrier must issue a […]
4 Things Employers Should Know About Providing the Health Insurance Exchange Notice
Notice Must Be Distributed to Current Employees No Later Than October 1, 2013 Following a delay in the original effective date, employers will need to comply with the new requirement to provide each employee a written notice with information about a Health Insurance Exchange (also known as a Marketplace) beginning this fall. Below are four […]
ACA Plan Affordability – Safe Harbors
Under the Employer Mandate (delayed until 2015) of the Affordable Care Act (PPACA), large employers must offer their full-time employees (and their dependents) the opportunity to enroll in “Affordable” coverage. Employers that offer their employees the opportunity to enroll in coverage will be penalized if the coverage is “unaffordable” or does not provide “Minimum Value,” […]
Healthcare Employer Mandate Delayed for One Year
The U.S. Treasury Department has announced that it will delay enforcement of the employer mandate (“pay or play”) requirements for one year. As a result, any penalties (also known as employer shared responsibility payments) will not apply until 2015. This mandate requires businesses with 50 or more workers to provide health insurance coverage to employees. […]