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  • Regulatory
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PCORI Fee for 2017 is $2.17

Thursday, 01 September 2016 by Calvin Tan
The Patient-Centered Outcomes Research Institute (PCORI) fee under the Affordable Care Act applies on a plan year basis to self-insured plans and health insurers. The amount of the fee is adjusted annually. The fee for 2016 plans years is $2.17. All plan sponsors of self-insured groups will pay the fee in 2017 for the 2016 plan year....
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  • Published in Newsroom, Regulatory
Tagged under: ACA, assessments, Fees, Obamacare, PPACA

Transitional Reinsurance Fee Reminder

Thursday, 01 September 2016 by Calvin Tan
Groups had to register and provide its enrollment counts for the 2016 transitional reinsurance fee, by November 15, 2016 for the 2016 collection period. The transitional reinsurance fee is assessed by the Department of Health and Human Services on employers or insurers to stabilize premiums in the individual health insurance market. If a group decides to make a single payment,...
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  • Published in Newsroom, Regulatory
Tagged under: ACA, enrollment, Fees, Obamacare, PPACA

Summary of Benefits and Coverage

Thursday, 01 September 2016 by Calvin Tan
The Department of Health and Human Services, the Department of Labor, and the Department of the Treasury finalized revisions to the Summary of Benefits and Coverage. The SBC template includes an additional example of coverage and language and terminology to improve consumers’ understanding of their health benefits coverage. A new example for a foot fracture explains what a plan covers in an emergency....
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  • Published in Newsroom, Regulatory
Tagged under: ACA, Benefits, Obamacare, PPACA, SBC

Updated Health Care Reform Guide

Friday, 01 April 2016 by Calvin Tan
Independence Administrators has updated the Affordable Care Act: A Guide to Self-Funded Plans. The guide provides information that can help you make important decisions about the health coverage you provide to your plan members. Here are some of the key 2016 considerations: Employer Shared Responsibility 2016 out-of-pocket maximums 2016 HSA/HDHP amounts Reporting deadlines Transitional Reinsurance fee...
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  • Published in Newsroom, Regulatory
Tagged under: ACA, Obamacare, PPACA

IRS: Educational Information on Individual Shared Responsibility Reporting

Friday, 01 April 2016 by Calvin Tan
The IRS released individual information on Shared Responsibility Reporting. The individual responsibility provision of the Affordable Care Act requires plan members and their dependents to have qualifying health coverage, also known as minimum essential coverage. Most plan members have minimum essential coverage for an entire year and will simply need to check a box on their income tax return....
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  • Published in Newsroom, Regulatory
Tagged under: ACA, Filings, Healthcare Reform, Obamacare, PPACA

IRS rules for Shared Responsibility Reporting

Friday, 01 April 2016 by Calvin Tan
Applicable large employers (ALEs) may be required to make an employer shared responsibility payment to the IRS under the Affordable Care Act, if they do not offer health coverage that is “affordable” and if it does not provide minimum value to full-time employees and their dependents. The information reporting responsibilities were effective January 1, 2015, and reporting 2015 coverage is now due....
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  • Published in Newsroom, Regulatory
Tagged under: ACA, Employer Mandate, Filings, Healthcare Reform, Obamacare, PPACA

IRS Extends Reporting Requirements Deadlines

Monday, 01 February 2016 by Calvin Tan
The Internal Revenue Service (IRS) extended the deadlines for information reporting requirements. The following extension applies for 2015 information reporting in 2016: 1095-C forms to employees were originally due February 1, 2016, and are now due March 31, 2016. 1094-C to IRS and copies of 1095-C, paper filing were originally due February 29, 2016, and are now due May 31,...
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  • Published in Newsroom, Regulatory
Tagged under: ACA, Employer Mandate, Filings, Healthcare Reform, Obamacare, PPACA

Transitional Reinsurance Fee

Friday, 01 January 2016 by Calvin Tan
Updating Contributions Filing Manual The Contributions Filing Manual is designed to assist a Contributing Entity in performing the required steps that address common filing discrepancies discovered through a review of a filed 2015 ACA Transitional Reinsurance Program Annual Enrollment Contributions Form and any supporting documentation. Reinsurance Fee – 2016 is planned to be the last year for the reinsurance fee....
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  • Published in Newsroom, Regulatory
Tagged under: Exchange, Healthcare Reform, Obamacare, PPACA, Tax

Tax-Exclusion Cap Now Equal for Parking, Transit Benefits

Friday, 01 January 2016 by Calvin Tan
As part of an omnibus spending and tax bill that was signed into law on December 18, the tax-exclusion cap was increased for mass-transit benefits for 2016 to be equal to the parking benefit. The monthly maximum that can be contributed to the commuter transportation spending account is increasing to $255....
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  • Published in Newsroom, Regulatory
Tagged under: Tax Advantaged, Tax free

Cadillac Tax Delayed Two Years

Friday, 01 January 2016 by Calvin Tan
President Barack Obama recently signed a budget that includes a delay in the Cadillac Tax for an additional two years. The Cadillac Tax is a 40 percent, non-deductible excise tax on employer-sponsored health coverage that provides high-cost benefits. The legislation also suspends the medical device tax until December 31, 2017....
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  • Published in Newsroom, Regulatory
Tagged under: ACA, Healthcare Reform, Obamacare, PPACA
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