Summary of Benefit Coverages, New Effective Date: September 23, 2012

February 13th, 2012 § 0 comments § permalink

Benefits Alert 2012-01

The Agencies have issued final regulations and related guidance on PPACA’s benefit summary requirement. Employers must start finalizing these summaries with their health plan insurers to be ready for the new September effective date. Note this requirement also applies to grandfathered plans. read more

Quarterly Review – January 2012

January 22nd, 2012 § Comments Off § permalink

From the Desk of the Editor

Our final 2011 newsletter focuses almost exclusively on health insurance reform; not surprising given our industry’s three primary governing bodies: Treasury/IRS, Department of Labor, and Department of Health and Human Services have been diverted with PPACA rulings and guidance since the law was enacted in 2010.
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2012 COLAs

Cost of Living adjustments for 2012 as compared to 2011 show slight increases in annual limits for retirement vehicles and Health Savings Accounts (HSAs); Transportation limits increased for Qualified Parking Expenses and decreased for Commuter and Transit Pass benefits.
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PPACA Supreme Court Hears Oral Arguments

Expect some interesting debate in March when the Supreme Court hears oral arguments challenging the constitutionality and validity of PPACA. Read More

Affordable Insurance Exchange Progress Report

According to a new White House report, twenty-eight states are on their way toward establishing the Patient Protection and Affordable Care Act’s Insurance Exchanges. States may establish their own Exchange, join a Federally-facilitated Exchange, or under a new option, participate in a “Partnership” Exchange.
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Health Care Reform Forms W-2 Reporting Update

If you are issuing 250 or more Forms W-2s for the 2011 tax year, you should already be collecting the value of “applicable employer sponsored coverage” in preparation for reporting in January of 2013. This reporting is not a new tax.
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Essential Health Benefits Bulletin

What are essential health benefits? With publication of a bulletin by HHS in December, we are getting closer to knowing.
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Alert: Summary of Benefits Coverage Implementation Delayed

As we reported in October, timing was a real concern for Employers and Insurance Companies to be ready to distribute by March 23, 2012, the uniform explanation of coverage mandated under the Patient Protection and Affordable Care Act (PPACA). It is anticipated that the DOL’s final regulations, once issued, will include an applicability date that gives group health plans and health insurance issuers sufficient time to comply.
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HSA Contributions Must be Reported

The 2011 version of Form 8889 is available on the IRS website for reporting Health Savings Account (HSA) contributions, distributions, and potential penalties.
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PPACA Notice & Reporting Obligations

It is important to keep abreast of the notice and reporting obligations coming due for employers and health plan providers. In addition to the tools and timelines available on our website we will continue to keep this on your radar screen with an ongoing checklist in this newsletter.
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From the Desk of the Editor

January 22nd, 2012 § Comments Off § permalink

Our final 2011 newsletter focuses almost exclusively on health insurance reform; not surprising given our industry’s three primary governing bodies: Treasury/IRS, Department of Labor, and Department of Health and Human Services have been diverted with PPACA rulings and guidance since the law was enacted in 2010. read more

2012 COLAs

January 22nd, 2012 § Comments Off § permalink

Cost of Living adjustments for 2012 as compared to 2011 show slight increases in annual limits for retirement vehicles and Health Savings Accounts (HSAs); Transportation limits increased for Qualified Parking Expenses and decreased for Commuter and Transit Pass benefits. read more

PPACA Supreme Court Hears Oral Arguments

January 22nd, 2012 § Comments Off § permalink

Lena Lewis, MBA

Expect some interesting debate in March when the Supreme Court hears oral arguments challenging the constitutionality and validity of PPACA. read more