Updates to the 2021 Summary of Benefits and Coverage


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

ACA Mandate Penalty Eliminated


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

Can a MEC Plan Help Your Company?


Under the Affordable Care Act (ACA), Applicable Large Employers (ALEs) can avoid paying the $2,000 per employee penalty for failing to offer qualifying health coverage by offering full-time employees a Minimum Essential Coverage (MEC) plan. Offering the most basic benefits – MEC plans offer only the most basic level of benefits required under ERISA and [...]

Can a MEC Plan Help Your Company?2015-11-17T09:15:18+00:00

What is Minimum Essential Coverage?


Employers with 50 or more employees are required to provide their full-time workers with access to Minimal Essential Coverage under the Affordable Care Act (ACA). The mandate is intended to ensure that employees have the opportunity to enroll in an employer-sponsored plan that is both affordable AND comprehensive. The government has established two tests to [...]

What is Minimum Essential Coverage?2015-09-22T09:15:56+00:00

Concerned About ACA Reporting Requirements?


Client educational seminar covers Sections 6055/6056 reporting requirements and the Cadillac Tax. On June 17th, Diversified Group will be hosting a client seminar, entitled What Every Employer Should Know about Their ACA 6055 & 6056 Reporting Requirements. Companies who have yet to establish their reporting strategies should use this seminar to get a clear picture [...]

Concerned About ACA Reporting Requirements?2015-06-15T13:52:56+00:00
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