Updates to the 2021 Summary of Benefits and Coverage

2020-10-16T14:17:15+00:00

To help consumers compare the different features of health benefits and coverage, the Affordable Care Act requires all group health plans and health insurance companies to provide individuals a “summary of benefits and coverage” that “accurately describes the benefits and coverage under the plan.” The SBC is a snapshot of a health plan’s costs, benefits, [...]

Updates to the 2021 Summary of Benefits and Coverage2020-10-16T14:17:15+00:00

IRS Adjusts the ACA Affordability Percentage for 2021

2020-07-23T15:05:04+00:00

The Internal Revenue Service (IRS) recently issued Revenue Procedure 2020-36 which indexes the contribution percentages for 2021 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning on or after January 1, 2021, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does [...]

IRS Adjusts the ACA Affordability Percentage for 20212020-07-23T15:05:04+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

ACA Affordability Percentage for 2020

2019-10-02T19:00:22+00:00

On July 23, 2019, the Internal Revenue Service (IRS) issued Revenue Procedure 2019-29 which indexes the contribution percentages for 2020 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning on or after January 1, 2020, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only [...]

ACA Affordability Percentage for 20202019-10-02T19:00:22+00:00

Diversified Group State Mandate Update: New Jersey

2019-06-06T06:00:28+00:00

Pre-Tax Transportation Fringe Benefits: On March 1, 2019, New Jersey becomes the first state to require employers to offer pre-tax transportation benefits to employees. A pre-tax transportation fringe benefit is a benefit that allows an employee to set aside wages on a pre-tax basis, which is then only made available to the employee for the [...]

Diversified Group State Mandate Update: New Jersey2019-06-06T06:00:28+00:00

IRS Publishes PCOR Fees through September 2019

2019-01-18T10:32:44+00:00

The Patient-Centered Outcomes Research Trust Fund fee is a fee on issuers of health insurance policies and plan sponsors of self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute (PCORI), which was established by the Affordable Care Act (ACA). The institute assists, through research, patients, clinicians, purchasers and policy-makers, in making informed [...]

IRS Publishes PCOR Fees through September 20192019-01-18T10:32:44+00:00

Despite Recent Court Ruling – ACA Enforcement Is Still the Law of the Land… For Now

2018-12-18T15:12:45+00:00

On December 14th, the U.S. District Court for the Fifth Circuit in Texas ruled the Affordable Care Act (ACA) unconstitutional in light of the Tax Cuts and Jobs Act of 2017 which eliminated the tax penalty under the individual mandate. The district court sided with 20 Republican state attorneys general that argued since the individual [...]

Despite Recent Court Ruling – ACA Enforcement Is Still the Law of the Land… For Now2018-12-18T15:12:45+00:00

IRS Releases Adjusted PCOR Fee

2018-11-08T16:28:39+00:00

The Patient-Centered Outcomes Research Trust Fund fee is a fee on issuers of health insurance policies and plan sponsors of self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute (PCORI), which was established by the Affordable Care Act (ACA). The institute assists, through research, patients, clinicians, purchasers and policy-makers, in making health decisions by [...]

IRS Releases Adjusted PCOR Fee2018-11-08T16:28:39+00:00

Maine is Reinstituting the Per Member Per Month Assessment to Fund the Maine Guaranteed Access Reinsurance Program

2018-11-07T19:36:54+00:00

Section 1332 of the Affordable Care Act (ACA) permits a state to apply for a State Innovation Waiver to pursue innovative strategies for providing their residents with access to high quality, affordable health insurance while retaining the basic protections of the ACA. Recently several states have applied for waivers and have been approved. Among these is the State of [...]

Maine is Reinstituting the Per Member Per Month Assessment to Fund the Maine Guaranteed Access Reinsurance Program2018-11-07T19:36:54+00:00

House Passes Two Bills to Expand HSA Coverage

2018-07-26T16:59:58+00:00

Yesterday, the House passed two bills that would expand HSA coverage: The Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 (HR 6199) This Act would: Allow plans flexibility in providing first dollar coverage up to $250 for a single and $500 for a family for additional services, such as those related [...]

House Passes Two Bills to Expand HSA Coverage2018-07-26T16:59:58+00:00
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