Do unto others…Not unto me
Harvard’s professors are getting a taste of their medicine, and it’s not going down to well. Reports are that members of the faculty are a little “peeved” over health plan changes that will require them to share more of their health care costs. The enrollment guide states that it “must respond to the national trend of […]
2015 HSA Contribution Limits
A health savings account (HSA) is a tax-advantaged savings account available to those who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned […]
No More Certificates of Credible Coverage
Effective December 31, 2014, the Patient Protection and Affordable Care Act no longer requires certificates of credible coverage to be issued. Previously, HIPAA required these certificates to be issued as proof of previous health coverage.
Supreme Court to Hear Subsidies Case
Employee Benefit Advisors blogged Oct 9, 2013 and July 7, 2014 about court cases that had been falling under the radar. EBA said “These cases could dismantle health care reform as we know it.” Friday, Nov 7, 2014, the Supreme Court announced that they will take up the challenges to whether subsidies should be available […]
1 Month Orientation & 90 Day Waiting Periods
For plan years beginning in 2015, employers may require an employee to satisfy a one-month orientation/evaluation period in addition to a 90 day waiting period before he or she becomes eligible for benefits. The orientation period must be a reasonable and bonafide employment-based condition of eligibility in a position that is otherwise eligible for coverage […]
Voting? – Average Health Premiums “Skyrocketed” After ACA
The Washington Times is reporting that a new study of insurance policies before and after the implementation of the Affordable Care Act “shows that average premiums have skyrocketed, for some groups by as much as 78 percent.” Average premiums for the 23-year-old demographic rose “dramatically,” with men in that age group seeing a 78.2 percent […]
Section 125 Plans Allow Additional Mid-Year Changes
The IRS announced two new situations in which a participant may revoke his or her cafeteria plan election in order to purchase coverage through a marketplace (Exchange) established under the ACA. These provisions do not apply to FSAs. Change is permitted provided: Employee Enrolls in Marketplace Coverage The employee is eligible for a special enrollment period […]
New Preventive Care Services Schedule Now Available
Interim Final Rules related to the coverage of preventive services under the Patient Protection and Affordable Care Act (PPACA) were recently published. A complete list of required preventive services is available from the U.S. Department of Health and Human Services. The following is a partial listing of preventive services required to be covered under Health […]
COBRA – Good News for Employers trying to Manage Loss Ratios
Employee’s eligible for Cobra can opt for “Marketplace coverage” instead of COBRA. Employees and their families eligible for, but not enrolled in, COBRA continuation insurance are able to enroll in Marketplace coverage outside of the normal open enrollment period, in most cases. It’s very possible employees eligible for COBRA continuation coverage could save on their […]
Fraud? – HDHP 50% Prompt-Pay Discount
Scenario: Employee has a HDHP and goes to Hospital. Hospital offer to discount the employee’s deductible by 50%. (i.e. Employee owes only half of the deductible, $3,000 debt is now $1,500.) The plan pays the full amount due above the deductible. Has fraud been committed (knowingly or not)? It is fraud because there’s a 3rd […]