Silver-loading
Silver-loading refers to health insurers loading premium increases on the popular silver-level exchange plans to make up for the loss of Cost Sharing Reduction (CSR) payments. Loading premium surcharges onto silver plans boosted the size of the premium tax credits available to people with incomes below 400% of the federal poverty level. – The Trump […]
2020 Cost Sharing Limits
Out-of-pocket expenses may not exceed $8,150 for self-only coverage or $16,300 for family coverage in 2020. – Ouch! Employers will need creative solutions to help employees afford these limits. Hint: EBA can help. Employee Benefit Advisors provides employee benefits, tax-advantaged healthcare, compliance guidance for ACA and Health & Welfare DOL Audits, and PEO Advisory & Consulting Services.
AHPs are out – For Now
A federal judge has ruled that two parts of the Department of Labor (DOL) rule expanding employers’ ability to join in Association Health Plans (AHPs) violate ERISA. The DOL AHP rule was formed to allow employers to band together to create health plans based on industry or geography. The federal court opinion stated that the rule was […]
2019 ACA deadline dates for 2018 reporting
February 1, 2019 Employers start receiving 2018 tax year exchange notices February 28, 2019 Deadline to file 1094-C/1095-C schedules if paper filing March 4, 2019 (Previously January 31,2019) IRS deadline to furnish 1095-C schedules for 2018 employees April 1, 2019 Deadline to file 1094-C/1095-C schedules if electronic filing April 15, 2019 […]
IRS Guidelines – Indexed for 2019
FICA Social Security Tax is 6.2% on income up to $132,900 up from $ 128,400 Medicare Tax unlimited 1.45% to Unlimited High Deductible Health Plans Minimum Annual Deductible (Individual/Family) $1,350 / $2,700 Maximum Out-of-Pocket Limit (Individual/Family) $6,750 / $13,500 Health Savings Accounts Individual / Family $3,500 / $7,000 Catch-up Contribution $1,000 ACA Plan Limits Out-of-Pocket Limits […]
Cologuard vs Colonoscopy
Concerned about being at risk for colon cancer? Don’t like the idea of a colonoscopy? You may want to consider learning more about Cologuard, an at-home testing kit that screens you for colon cancer. What it is. Cologuard is a noninvasive, prescription-only test. It’s designed for adults 50 years or older who are at average […]
New Rules for Short-Term Health Plans may help employees in transition
The new rule will allow individuals to purchase short-term, limited-duration health insurance coverage for a period of less than 12 months, and renew coverage for up to 36 months. Under current law, the maximum coverage period is less than 3 months, and cannot be renewed. Short-term, limited-duration health insurance is: • Not required to comply […]
COBRA Check
Who is administering your COBRA? If it’s an insurance carrier they may not be administering all aspects of the eligible benefits. Read and make notes, better yet verify your COBRA plan is being properly administered. The fines for failing to do so can be staggering. COBRA provides former employees, spouses, and dependent children the right […]
Association Health Plans – An update from the DOL
The DOL issued a new rule that allows employers to join together to offer group health insurance coverage. The rule allows association health plans to be formed based on industry or geography, such as by state, city, county, or multi-state metropolitan area. The association health plans will be subject to the large group coverage nondiscrimination rules. […]
IRS ANNOUNCES REVISED 2018 HSA CONTRIBUTIONS LIMITS
Update: Posted on April 27, 2018 The Internal Revenue Service (IRS) has re-established $6,900 as the 2018 health savings account (HSA) contribution limit for individuals with family coverage under a high deductible health plan (HDHP). Original Post on March 7, 2018 The IRS has announced the limits for HSAs have been revised for 2018. The adjustments are the […]