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Almost all HRAs Owe PCOR Fee by July 31

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Health reimbursement arrangements (HRAs) a self-insured group health plans. The employer-sponsor of an HRA is required to pay the PCOR fee for the HRA plan year that ended in 2014 no later than July 31, 2015. The only HRAs that do not owe the fee are those that only reimburse dental or vision expenses or HRAs that are integrated with the employer’s self-insured group medical plan.
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Categories: Health Care Reform, Compliance | Tags: PCOR , Fee , IRS
With the Supreme Court’s decision, last week, in King v. Burwell that the Obamacare subsidies are available nation-wide, the section 6055 and 6056 plan reporting required of insurers and employers is here to stay. Because plan reporting is used by the IRS to assess tax penalties on individuals and/or employers as a means of recouping subsidy expenditures, any speculation that the plan reporting requirements would be postponed or eliminated was put to rest.
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Categories: Health Care Reform, Compliance | Tags: 6055 , 6056 , Reporting , Subsidies , 1095-B , 1094-B , 1095-C
The Supreme Court’s ruling, last week, in Obergfell v. Hodges that same sex marriage is a constitutional right nation-wide has immediate impact in the fifteen states that had not been recognizing same sex marriage and has implication for the future of domestic partner coverage that has been common place in many employers’ health plans.
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Categories: Benefits in General, Compliance | Tags: same sex , Windsor , IRS

Obamacare Subsidies Upheld

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In a 6-3 ruling, the Supreme Court ruled in favor of the Obama administration that subsidies are available for coverage purchased through a federally facilitated exchange, as well as exchanges established by a state.
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Categories: Health Care Reform, Compliance | Tags: Exchange , Subsidy
The IRS has published new draft forms for insurers or employers to use when providing the required reporting under Code Sections 6055 and 6056. The draft forms allow the insurer or employer to see what information is necessary to report and to have processes and procedures in place to collect the necessary information to comply with the required reporting in early 2016 for coverage offered or provided in 2015.
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Categories: Health Care Reform, Compliance | Tags: 1095-B , 1095-C , IRS , Report , 6055 , 6056

Transition Relief Running Out for Small Employers

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Small employers that have continued to reimburse or pay for their employees’ individual medical plan premiums must stop doing so no later than June 30, 2015 or face severe excise tax penalties. The transitional relief granted by the IRS for doing so expires at the end of this month.
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Categories: Health Care Reform, Compliance | Tags: IRS , Relief , Employer , Individual , Premium

Some HRAs are Subject to 6055 Reporting

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Employers that provide health reimbursement arrangements (HRAs) that are not integrated with the employer’s group medical plan are required to provide the 6055 reporting (Forms 1094-B and 1095-B) to the participants in that HRA and to the IRS in early 2016 for coverage provided in 2015. Commonly, these are HRAs that cover retirees and/or former employees.
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Categories: Health Care Reform, Compliance | Tags: Report , Reporting , 1095 , 6055 , IRS
Employers that will be filing 250 or more calendar year 2015 health coverage reports to their full time employees in early 2016 are required to submit an electronic copy of those reports to the IRS by March 31, 2016. These employers should be taking steps now to complete the online application to receive an electronic Transmitter Control Code (TCC) in order to comply with the Affordable Care Act Information Returns (AIR) program.
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Categories: Health Care Reform, Compliance | Tags: IRS , 1095 , Coverage , Play or Pay , 6056

Form 720 for 2015 Payment of PCOR Fee Published

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The IRS has published Form 720 and a book of instructions for payment of the Patient Centered Outcomes Research (PCOR) fee. The fee is due by July 31, 2015 for plan years that ended in 2014.
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Categories: Health Care Reform, Compliance | Tags: PCOR , Fee , IRS
Last Friday, the Senate approved a trade bill, H. R. 1314, which would revive the Health Coverage Tax Credit (HCTC) to subsidize COBRA premiums for individuals that lose their jobs due to foreign competition and for retirees at least age 55 who worked for companies whose pension plans have been taken over by the Pension Benefit Guarantee Corporation (PBGC).
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Categories: Compliance, Health Care in General | Tags: subsidy , HCTC
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