Employers Here it comes again: ACA Penalties Increasing in 2023 The IRS recently announced that the ACA penalty assessments issued for non-compliance with the Employer Mandate are increasing for the 2023 tax year. Below we highlight the new penalty amounts as well as explain how the IRS identifies non-compliance and issues penalties [...]
The IRS released Notice 2019-29 that adjusts the affordability percentage for 2020. To avoid penalties under the Affordable Care Act, large employers must offer minimum value, affordable coverage to their full-time employees. The IRS adjusts the percentage for calculating affordability each year. For 2020, coverage will be considered affordable if it costs less than 9.78% of the [...]
What conditions are costly for employers to cover? In IFEPB’s Workplace Wellness Trends 2017 Survey, more than 500 employers were asked to select the top three conditions impacting plan costs. The following 10 topped the list. #1 Diabetes #2 Cancer (all kinds) #3 Obesity #4 Arthritis/back/musculoskeletal #5 Heart disease #6 Hypertension/high blood pressure #7 Depression/mental [...]
On June 19, 2018, the U.S. Department of Labor (DOL) published Frequently Asked Questions About Association Health Plans (AHPs) and issued a final rule that broadens the definition of “employer” and the provisions under which an employer group or association may be treated as an “employer” sponsor of a single multiple-employer employee welfare benefit plan and group health plan [...]
Last week we received word that the House Ways and Means Committee “approved legislation that that would temporarily repeal the law’s employer mandate.” Reps. Devin Nunes (R-CA) and Mike Kelly (R-PA) sponsored the bill, which “would suspend penalties for the employer mandate for 2015 through 2019 and delay implementation of the tax on high-cost employer-sponsored [...]
ACA plans are “projected to jump an average of 15% next year,” according to the Congressional Budget Office. This increase is being attributed “in large part” to the repeal of the ACA’s individual mandate, which takes effect in 2019. This alone will cause premiums to be 10% higher because fewer healthy people will buy coverage, [...]
ABC World News Tonight (5/18, story 9,) reported, “The Trump Administration has moved to cut off funds to family planning clinics that perform abortions or provide referrals for them.” This change is expected to impact “some $260 million of Title X family planning funds,” and Planned Parenthood in particular. On its front page, the Washington [...]
A previously extended transitional policy that permits health insurance issuers to continue group coverage that would otherwise be terminated or cancelled due to the Affordable Care Act (ACA) has been further extended to policy years beginning on or before October 1, 2019, provided that all policies end by December 31, 2019. Health insurance issuers that [...]
Fierce Healthcare (4/5, Sweeney) reports that CMS intends “to ‘wind down’ support for the federal exchanges by the time open enrollment hits in 2019 and shift funding to states.” In order for this plan “to work, the agency is relying on Congress to do something it failed to do several times last year: Pass an [...]
2018 is already proving to be another year of disruption, innovation, and transformation in the health care industry, as it strives to create a model that better meets the needs of all its stakeholders. Here are some of the trends that will be impacting the industry this year. Some of them have been around for [...]