The 2019 ACA Reporting is Due in Early 2020 The IRS has released final 2019 versions of Forms 1094-C, 1095-C, 1094-B, and 1095-B that employers will use in early 2020 to report on the group health insurance coverage they offered during the 2019 calendar year. Instructions on how to complete Forms 1094-C and 1095-C and…
Small life decisions can have a huge impact on your health. Those who don’t see a doctor once a year risk greater health complications down the road. Since most health plans cover an annual visit, there’s no reason to skip a checkup. It’s a great time to remind your employees to see their doctor before…
Standing and treadmill desks have been a rising trend in business settings across the country. Although experts agree that sitting for extended periods of time throughout the day can be dangerous for your health, there is little agreement on the results that standing or treadmill desks have on employees. The impact of implementing standing or…
Perhaps an employee has asked, “What’s an HSA?” An HSA can be a valuable benefit to compliment high deductible health plans. Learn about HSAs in this brief video.
The Affordable Care Act’s medical loss ratio (MLR) rules require group health insurance issuers to provide rebates if their MLR—the amount of health insurance premiums spent on health care and activities to improve health care quality—falls short of the applicable standard during a reporting year. Each year’s rebates are issued to plan sponsors by September…
To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan. 1, 2020. Employers should review their plan documents to confirm that they include these required changes. In addition, any changes to a health…
According to Optum’s Wellness in the Workplace study, more than 80% of employers plan to spend more on health care and wellness in the next year than in previous years. Health Care Spending The cost of providing employer-sponsored health care has been steadily increasing over the years. According to the Kaiser Family Foundation, the average…
Requirement Applies to Employers that Offer Prescription Drug Coverage Employers who sponsor group health plans that offer prescription drug coverage to Medicare-eligible individuals must provide a Medicare Part D Creditable or Non-Creditable Coverage Notice to those individuals before October 15. These notices inform Medicare-eligible individuals whether the plan’s prescription drug coverage is expected to pay,…
No Waiver or Transition Relief is Currently Available Recently, the Internal Revenue Service released an information letter regarding the Affordable Care Act’s employer shared responsibility (pay or play) penalties. The information letter is intended to clarify the applicability of the penalties in light of President Trump’s 2017 executive order broadly directing federal agencies to waive,…
