Certain Notices Must Be Distributed Around Open Enrollment A company’s open enrollment period can be a hectic time for management, HR, and employees alike. However, during the enrollment process, employers should remember their disclosure obligations. Below are five key notices that must be distributed to employees around the open enrollment period: Summary Plan Description (SPD):…
Used for Reporting in Early 2018 The IRS has released the final 2017 Instructions for Forms 1094-B, 1095-B, 1094-C, and 1095-C to help employers prepare for calendar year 2017 Affordable Care Act (ACA) information reporting. Employers will use the final versions of the forms and instructions in early 2018 to report on health coverage offered…
The U.S. District Court for the District of Columbia has directed the Equal Employment Opportunity Commission (EEOC) to reconsider its final wellness rules under the Americans with Disabilities Act (ADA) and the Genetic Information Nondiscrimination Act (GINA). The final rules allow employers to offer wellness incentives of up to 30 percent of the cost of…
The updated template and related materials for the summary of benefits and coverage (SBC) are required for annual open enrollment periods beginning on or after April 1, 2017. For calendar year plans, this means that the updated template must be used for the 2018 open enrollment period. Employers should do the following to prepare for…
Final 2017 Versions to be Released Later The IRS has released draft versions of the Forms 1094-B, 1095-B, 1094-C, and 1095-C that employers and insurers will use in early 2018 to report on health coverage offered in the 2017 calendar year. 2017 Draft Forms The following draft forms are now available for 2017: Draft Form…
Law Requires Certain Employers to Offer Dependent Coverage Until Age 26 Under the Affordable Care Act, when a plan covers dependents, it must continue to make the coverage available until a child reaches the age of 26, even if the young adult has been offered coverage through his or her own employer, is married, no…
Guidance Provides 2017 Monthly National Average Premium for Bronze Plans The IRS has released the 2017 monthly national average premium for a bronze level health plan offered through the Health Insurance Marketplace, which is used to determine the maximum individual mandate penalty. New Guidance According to the new IRS guidance, the monthly national average premium…
Model Notice Informs Employees of Eligibility for Premium Assistance Under Medicaid or CHIP An updated model notice for employers to provide information on eligibility for premium assistance under Medicaid or the Children’s Health Insurance Program (CHIP) is now available for download from the U.S. Department of Labor (DOL). Click here to download the latest employer…
Payments for Medicare Premiums Also Prohibited A recently released IRS letter reaffirms the agency’s view that funds from a health flexible spending arrangement (health FSA) may not be used to reimburse health insurance premium payments or Medicare premium expenses. Certain Premiums May be Deducted The IRS letter points out that health insurance premium payments, including…
Use Popular Benefits to Lure Top Talent Benefits are a key factor in attracting and holding onto the best and brightest people for your organization. To make sure you’re keeping up with the competition, consider offering these emerging popular benefits to your employees. Telemedicine and On-Site Clinics: Millennials demand and value convenience, in health care…
