tax

IRS Publication 5187: What’s New for 2014 Tax Returns

On December 23, 2014, the IRS published a new document, IRS Publication 5187, designed to provide information to individuals about how the Patient Protection and Affordable Care Act (PPACA) will impact 2014 federal tax returns to be filed this year. For the 2014 tax year, there are three new forms that may be used to […]

523558463

Wrap Coverage Gets an Update with a Second Round of Proposed Rules

On December 19, 2014, the Departments of Labor, Health and Human Services, and Treasury (collectively, the Departments) issued proposed regulations for two circumstances in which an employer can sponsor health coverage that wraps around and supplements individual health insurance and still qualifies as an excepted benefit: (1) limited wraparound coverage offered to part-time employees with […]

new

Proposed Changes to the SBC – New and Improved?

On December 22nd, the Departments of Health and Human Services, Labor and the Treasury (collectively the Departments) issued regulations proposing changes to the summary of benefits and coverage (SBC) and uniform glossary requirements and templates (here). The changes proposed would be effective for plans beginning on or after September 1, 2015. The Affordable Care Act […]

rules

Expat Plans Exempt From The ACA – But It’s Not A Free Pass

On December 16th, President Obama signed into law the Consolidated and Further Continuing Appropriations Act, 2015 (lovingly referred to as the CRomnibus bill). The main purpose of the CRomnibus bill is to fund the federal government. Nearly 90 percent of the way through the law – sandwiched between the riveting topics of “Further Continuing Appropriations […]

affordable care act

New ACA Affordability Rules Impact Cafeteria Plan Flex Credits

Just before Thanksgiving, the Internal Revenue Service and Treasury released a final rule on Minimum Essential Coverage and Other Rules Regarding the Shared Responsibility Payment for Individuals, otherwise known as the individual mandate. At first glance, this final rule appears to address issues only relevant to individuals.  However, within the final rule, the IRS and […]

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Small Employer Reform News

Wrap Coverage Gets an Update with a Second Round of Proposed Rules

On December 19, 2014, the Departments of Labor, Health and Human Services, and Treasury (collectively, the Departments) issued proposed regulations for two circumstances in which an employer can sponsor health coverage that wraps around and supplements individual health insurance and still qualifies as an excepted benefit: (1) limited wraparound coverage offered to part-time employees with […]

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North Carolina News

523558463

Wrap Coverage Gets an Update with a Second Round of Proposed Rules

On December 19, 2014, the Departments of Labor, Health and Human Services, and Treasury (collectively, the Departments) issued proposed regulations for two circumstances in which an employer can sponsor health coverage that wraps around and supplements individual health insurance and still qualifies as an excepted benefit: (1) limited wraparound coverage offered to part-time employees with […]

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Affordable Care Act News

supreme court

UPDATE: SCOTUS to Hear Challenge to Health Law’s Insurance Subsidies

On Friday, November 7, 2014, the United States Supreme Court decided to hear King v. Burwell, a case appealed from the United States Court of Appeals  for the Fourth Circuit challenging the ability of the government to provide tax subsidies for health insurance coverage purchased through federally-facilitated health insurance marketplaces. This development came as a surprise to […]

wind in sails

Agencies Take the Wind Out of the Sails of Minimum Value Plans

In recent weeks, there has been significant discussion about plans without coverage for in-patient hospital or physician services (often referred to as middle plans or MVP plans), and whether such plans actually meet the minimum value component of the employer mandate under Code 4980H(b).  On November 4, 2014, the IRS, Treasury and Department of Health […]

delayed

Indefinite Delay in Enforcement of HPID Requirement

The Health Plan Identifier (HPID) is a standard, 10 digit unique health plan identifier required by the Health Insurance Portability & Accountability Act of 1996 (HIPAA). The HPID is to be used to identify health plans in HIPAA electronic standard transactions. HIPAA standard transactions include medical and dental claims and encounters, payment and remittance advice, […]

piggy bank with calculator

IRS Publishes Healthcare Reform PCORI Fee Increase for 2014-2015

The Internal Revenue Service recently published IRS Notice 2014-56, adjusting the amount of the Patient Centered Outcomes Research Institute (PCORI) fee for plans ending on or after October 1, 2014 and before October 1, 2015.  These plans will pay $2.08 per covered life, a slightly higher PCORI fee than the previous plan year.  As in […]

skinny pig

Race to the Middle? Middle and Skinny Plans under Healthcare Reform

UPDATE: On November 4, 2014, the IRS, Treasury, and HHS announced in IRS Notice 2014-69 that plans which do not provide coverage for in-patient hospitalization or physician services are NOT considered to provide minimum value coverage for purposes of the employer mandate penalties contained in Code 4980H(b). The Departments plan to propose regulations addressing this position […]

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