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 […]

calendar

No More Election-Lock for Non-Calendar Year Employer Plans

The IRS recently released welcome additions to the permitted election changes for health coverage under the IRS Code Section 125 Cafeteria Plan mid-year election change rules. The guidance, released as IRS Notice 2014-55, solves an election lock problem that has been facing employer-sponsored non-calendar year plans since the opening of the Federal Marketplace (aka Exchange). […]

skinny pig

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

As we move into the fourth quarter of 2014, employers must look the Employer Mandate in the eyes and finalize their strategies for avoiding, minimizing, or paying tax penalties under the Employer Shared Responsibility provision of the Patient Protection and Affordable Care Act (PPACA).  A number of innovative strategies for avoiding or minimizing the impact […]

Draft-stamp

IRS Publishes Draft Instructions for Minimum Essential Coverage Reporting

Late last week, the IRS brought us one step closer to understanding how applicable large employers will be required to meet their obligations under the Code 6056 reporting requirements of the Affordable Care Act (ACA) (aka Minimum Essential Coverage reporting or MEC reporting). As described in an earlier post, the ACA requires all employers with […]

forms

IRS Publishes Form Drafts for New ACA Employer Reporting Requirement

On Thursday, July 24, 2014, the IRS published highly anticipated drafts of the forms large employers with 50 or more full-time equivalent employees will be required to use for the Code 6056 reporting requirement.  Code 6056 requires applicable large employers to file a transmittal with the IRS (Form 1094-C) and provide a new return to […]

More Posts from this Category

Small Employer Reform News

No More Election-Lock for Non-Calendar Year Employer Plans

The IRS recently released welcome additions to the permitted election changes for health coverage under the IRS Code Section 125 Cafeteria Plan mid-year election change rules. The guidance, released as IRS Notice 2014-55, solves an election lock problem that has been facing employer-sponsored non-calendar year plans since the opening of the Federal Marketplace (aka Exchange). […]

More Posts from this Category

North Carolina News

calendar

No More Election-Lock for Non-Calendar Year Employer Plans

The IRS recently released welcome additions to the permitted election changes for health coverage under the IRS Code Section 125 Cafeteria Plan mid-year election change rules. The guidance, released as IRS Notice 2014-55, solves an election lock problem that has been facing employer-sponsored non-calendar year plans since the opening of the Federal Marketplace (aka Exchange). […]

More Posts from this Category

Affordable Care Act News

verdict

Four Things Employers Need to Know About the Hobby Lobby Decision

In a landmark (but not totally unanticipated) decision, the United States Supreme Court held in favor of Hobby Lobby, Conestoga Wood Specialties, and Christian bookstore Mardel, a group of family-owned, closely-held for profit corporations who challenged the Patient Protection and Affordable Care Act’s (PPACA) preventive care requirement.  Specifically, the companies opposed PPACA’s requirement that non-grandfathered group […]

dependent care

FAQ: Are Plan Eligibility Restrictions for Adult Dependent Children Still Allowed?

Last week’s Kaiser Health News Insuring Your Health column tackles a question frequently asked by individuals as well as employer group health plan sponsors: Can a plan place eligibility restrictions on dependent children with access to health insurance through their own employer?  “Not anymore” is the answer. The Patient Protection and Affordable Care Act (PPACA) requires group health […]

non-compliance

IRS Highlights Stiff Penalty for Reimbursing Individual Premiums

Since the IRS and Treasury published Notice 2013-54 in September 2013, pre-tax employer reimbursement of an employee’s individual health insurance premiums has been a hot topic of conversation.  Historically, many employers have provided this type of benefit in lieu of offering a group health plan – a strategy that now needs to be reevaluated as […]

hour glass

New Special Enrollment Period for COBRA Participants – 3 Things Employers Should Know

On May 2, 2014, the U.S. Department of Health and Human Services (HHS) revealed a new special enrollment period designed to allow current COBRA participants to terminate COBRA coverage and purchase a plan through the Marketplace between May 2, 2014 and July 1, 2014.  In a bulletin published May 2, HHS cited concerns about whether […]

HHS Specifies End of PCIP Coverage as “Exceptional Circumstance” For Exchange Special Enrollment

On April 24, 2014, CMS flexed its regulatory muscle by issuing a notice allowing participants in the Pre-Existing Condition Insurance Program (PCIP) until June 30, 2014 to enroll in a qualified health plan offered through the Exchange, also known as the Health Insurance Marketplace.  Introduced as part of the Patient Protection and Affordable Care Act […]

More Posts from this Category

Sign up to receive breaking news on Healthcare Reform by the HCW Compliance Team