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Departments Issue Guidance to Revise SBC

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The DOL, HHS and IRS jointly issued guidance on April 23, 2013 affecting the Summary of Benefits and Coverage (SBC) that non-excepted health plans are to use when communicating the benefits of the plan for coverage beginning on or after January 1, 2014.
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Categories: Health Care Reform, Benefits in General, Compliance | Tags: SBC

Bill Would Eliminate Health FSA Forfeiture

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Congressman Charles Boustany introduced the Medical FSA Improvement Act of 2013 on April 18, 2013. The Bill would exempt Health FSAs from the cafeteria plan requirement that unused funds be forfeited to the employer.
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Categories: Benefits in General, Compliance | Tags: Cafeteria Plan
Recent guidance from the IRS and the Treasury Department in the “Shared Responsibility for Employers Regarding Health Coverage” provides for a one-time transitional period for large employers (those with 50 or more employees) that offer fiscal year cafeteria plans to allow employees a mid-year permitted election change to either revoke their pre-tax election for the employer’s group health plan to enroll in insurance on an Exchange or make a prospective pre-tax election to participate in the ...
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Categories: Health Care Reform, Benefits in General, Compliance | Tags:
Since 1996, when HIPAA was enacted, non-excepted health plans (e.g., major medical plans) have been required to provide Certificates of Creditable Coverage. This requirement applied to most health reimbursement arrangements (HRAs) and some Health care FSAs.
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The Affordable Care Act (ACA), aka Health Care Reform, provides for a new fee applicable to group health plans, including certain health reimbursement arrangements (HRAs) and some Health Care FSAs. The Patient-Centered Outcomes Research (PCOR) fee is payable for specific a period of time.
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Categories: Health Care Reform | Tags: Fees
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