Insight to Action

7 results with the tag “ACA”

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Benefits & Healthcare Update: Departments Release New Guidance on ACA Cost Sharing Limits, HSA Rules

4 May 2016

On Friday April 29, 2016, the Internal Revenue Service (IRS) released HSA contribution rules and HSA-eligible HDHP plan design rules for the 2017 plan year. Previously, the Department of Health and Human Services (HHS) released proposed rules for the out-of-pocket maximum limits applicable to non-grandfathered health plans under the ACA. Remember, there are two sets of rules post-ACA: one regarding out-of-pocket maximum limitations for non-grandfathered group health plans under the ACA, and another set of rules for Health Spending Accounts (HSAs) and HSA-qualifying High Deductible Health Plans (HDHPs) under the Internal Revenue Code. Out-of-pocket Maximum Limitations under ACA For non-grandfathered group health plans, out-of-pocket maximums cannot be greater than $7,150 for single coverage and $14,300 for non-single/family coverage for the 2017 plan year.

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Benefits & Healthcare Update: Agencies Finalize ACA Market Reform Rules, Make No Substantial Changes

4 December 2015

On November 18, 2015, the DOL, HHS, and IRS jointly published final rules on grandfathered plan status, pre-existing condition exclusions, lifetime and annual limits, rescissions, dependent coverage, appeals, and patient protections. The final rules formalize and merge the previously issued interim rules and sub-regulatory guidance.

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Surveying the Future: Releasing Our Tenth Annual Benefits Survey of Hospitals

18 August 2015

This week, participants in Cammack Health's Benefits Survey of Hospitals are receiving their copies of the final report. With over 160 hospitals represented across 89 health systems in seven states, the survey has grown considerably from its humble beginnings ten years ago. This year, the impending Cadillac tax is the troubling specter on the horizon of healthcare reform.

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Reporting Coverage on Your Taxes

17 March 2015

While employers have been focusing on the employer mandate—naturally—there's the other side of the coin that came into effect in 2014 without delay: the individual mandate. The individual mandate requires everyone to either have health insurance coverage every month of the year or face a penalty unless you qualify for a hardship exemption.The IRS recently released some guidance for everyone here: http://www.irs.gov/Affordable-Care-Act/Individuals-and-Families For most Americans, they will have coverage through their employers for the entire year, and they simply will check a box on their Form 1040.

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Keeping Tabs on Who is a Full-Time Employee

11 February 2015

The ACA requires that larger employers offer medical insurance to full-time employees and report on their offer of coverage after the end of the year. To make sure that you're correctly administering the offer of medical insurance—or at least to know the amount of potential liability you'll face for failing to offer insurance—employers should have a separate method of track who is a full-time employee for the purposes of the ACA. This could be something as simple as a separate Excel spreadsheet with a list of the full-time employees by month, or you could program this function into your HRIS system.

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