Individuals
The Affordable Care Act (ACA) created a research institute known as the Patient-Centered Outcomes Research Institute (PCORI). The goal of PCORI is to help patients and those who care for them make better-informed decisions about healthcare choices. PCORI is funded in part by fees which are charged to health plans. The following information is designed to help employers understand their upcoming payment obligations.
Key Employee Concentration Test
Annual Medicare Part D reporting is required for all employers who provide health benefits with prescription drug coverage. The reporting is an online filing to the Centers for Medicare & Medicaid Services (CMS), and it lets CMS know if the prescription drug coverage available on the employer’s health plan is “creditable.”
On June 28, 2021, the Department of Health and Human Services (HHS) proposed new rules that would primarily impact individual health plans that are sold through Health Insurance Marketplaces. The proposed rules aim to lengthen the annual enrollment period, expand Navigator duties, and minimize any burden or confusion for consumers. A summary of some of the key provisions has been outlined below:
The Equal Employment Opportunity Commission (EEOC) has been issuing COVID-19 guidance for employers dating back to March 2020. The guidance has been issued in a frequently asked question (FAQ) format and gets updated periodically. On May 28, 2021, the EEOC updated its guidance to include information for employers wanting to provide incentives to employees for receiving a COVID-19 vaccination.
Summer is finally here! For many people, the arrival of summer means vacations, backyard barbeques, and lots of time spent in the great outdoors. With all the summer fun you’ll be having, you’re probably going to want to stock up on some essential products to help you look and feel your best this season.
It may surprise you to learn that many of these products are FSA-eligible. That means that you can use your Flexible Spending Account to pay for them tax-free!
Earlier this morning, the U.S. Supreme Court dismissed a case challenging the constitutionality of the Affordable Care Act (ACA), often referred to as Obamacare. The entire ACA continues to remain as the law of the land.
On May 18, 2021, the Internal Revenue Service (IRS) issued Notice 2021-31 with additional guidance pertaining to the COBRA subsidies authorized under the American Rescue Plan Act of 2021 (“ARPA”). The guidance is broken up into various sections and consists of 86 different frequently asked questions (FAQs). Some details summarizing the guidance has been provided below.
On May 10, 2021, the Internal Revenue Service (IRS) published Rev. Proc. 2021-25 which includes the 2022 limits for qualified high deductible health plans (HDHPs) and Health Savings Accounts (HSAs). Below is a summary of these limits:
Minimum Deductible to Qualify as an HDHP
• Single-only HDHP coverage = $1,400
The U.S. Department of Health and Human Services (HHS) recently finalized its Notice of Benefit and Payment Parameters which is also summarized in this Fact Sheet. These regulations are issued each year and make updates and changes to various provisions of the Affordable Care Act (ACA).