ACA exchange warns of 40% or more premium increase in 2021 due to COVID-19

2020-03-27T15:23:52+00:00

This article was published on March 25, 2020 BenefitsPro.com, written by Katie Kuehner-Hebert. Photo source BenefitsPro.com. Covered California's actuarial/policy brief recommends that Congress consider three actions now to mitigate impact. Congress needs to mitigate what could be substantial cost increases for both insurers and their members due to the COVID-19 pandemic, warns Covered California, the [...]

ACA exchange warns of 40% or more premium increase in 2021 due to COVID-192020-03-27T15:23:52+00:00

PCOR Fee Reauthorization and Diversified Group’s Reporting Services

2020-03-05T15:09:01+00:00

The ACA’s PCOR fee had expired with the 2019 plan year, although non-calendar year plans were still required to remit their fees on July 31, 2020. However, as part of the year end budget/spending bill, Congress authorized an extension of the Patient Centered Outcomes Research Institute Fee (PCOR) for another ten years through 2029. The ACA [...]

PCOR Fee Reauthorization and Diversified Group’s Reporting Services2020-03-05T15:09:01+00:00

Fully-Insured Health Insurer Tax Is Back for 2020

2019-11-21T17:36:39+00:00

Recently released IRS notice 2019-50 has reestablished the health insurer tax (HIT) for 2020, which had been previously suspended for 2019. The Affordable Care Act (ACA) imposes an annual, non-deductible health insurer tax on insurance companies that offer fully-insured plans and applies to all insurers offering fully-insured coverage, including plans sold via the exchange or [...]

Fully-Insured Health Insurer Tax Is Back for 20202019-11-21T17:36:39+00:00

House Votes to Repeal the Cadillac Tax

2019-07-22T10:57:06+00:00

On July 17, 2019, the U.S. House of Representatives voted across bipartisan lines to repeal the ACA’s Cadillac Tax. The final vote in the House was 419-6 in favor of repeal. The tax was designed as a penalty tax on high-value health coverage, to convince health plan sponsors to reduce benefits and keep costs down by [...]

House Votes to Repeal the Cadillac Tax2019-07-22T10:57:06+00:00

Proposals on Many Wish Lists

2019-04-04T08:00:12+00:00

Now that the makeup of the new Congress has been decided, many employers are hoping Washington can work together to address a few of their important concerns. High on many lists, especially those belonging to large employers, would be doing away with the Cadillac Tax on high-cost health plans once and for all. While implementation [...]

Proposals on Many Wish Lists2019-04-04T08:00:12+00:00

Commonsense Reporting Bill Introduced

2018-03-01T09:00:42+00:00

In October, a bipartisan group of senators introduced a bill that would ease the ACA reporting mandates for employer-sponsored health plans. The bill would roll back the reporting requirements of Section 6056 and replace them with a voluntary reporting system. The bill would also allow payers to transmit employee notices electronically rather than having to [...]

Commonsense Reporting Bill Introduced2018-03-01T09:00:42+00:00

ACA Mandate Penalty Eliminated

2018-02-22T09:00:51+00:00

The ACA has required people to have what the government has classified as minimum essential coverage, or else pay a penalty which now amounts to 2.5% of modified adjusted gross income over the income tax filing threshold. While the House version of tax reform did not change the penalty in any way, the Senate version [...]

ACA Mandate Penalty Eliminated2018-02-22T09:00:51+00:00

Doing What We Can

2017-12-07T15:20:07+00:00

We often hear of professional athletes succeeding under pressure by staying “in the moment” and remaining focused on the things that are within their control. This challenge can be applied to the uncomfortable position all of us find ourselves in today – somewhere between complying with existing laws and anticipating the unknowns coming from Washington. [...]

Doing What We Can2017-12-07T15:20:07+00:00

The IRS Announces Plan to Enforce ACA Employer Mandate Penalties

2017-11-21T15:47:54+00:00

On November 8, 2017, the IRS announced that, for the first time, it would begin enforcement of the employer mandate under the Affordable Care Act (i.e., the assessment of tax penalties against large employers failing to provide affordable, minimum value health coverage to substantially all employees). The initiation of active enforcement efforts now comes as a [...]

The IRS Announces Plan to Enforce ACA Employer Mandate Penalties2017-11-21T15:47:54+00:00

How employers are preparing for the Cadillac tax

2017-10-18T11:00:36+00:00

The article below was published on September 20, 2017 by Employee Benefit News, written by Victoria Finkle. Although the Cadillac tax isn’t set to go into effect until 2020, employers are already adjusting their health plans in an effort to avoid the added expense. The 40% excise tax on high-cost healthcare, which was created to [...]

How employers are preparing for the Cadillac tax2017-10-18T11:00:36+00:00

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