Wells Insurance ACA Compliance Update

Size: px
Start display at page:

Download "Wells Insurance. 2015 ACA Compliance Update"

Transcription

1 Wells Insurance 2015 ACA Compliance Update

2 Wells Insurance Today s Agenda Cost-Saving Strategies Deadlines & Implications for you Plan Design Changes Reinsurance Fees Employer Penalty Rules Reporting of Coverage Your Health Care Reform Partner - How we can help you become and stay compliant with rapidly changing ACA rules

3 Affordable Care Act Does this slide really need a Heading?

4 2015 Health Care Reform COST-SAVING STRATEGIES CURRENTLY IN USE BY SOME LOCAL GOVERNMENTS

5 Managing Costs 22 Cost-Saving Strategies Currently In Use By Local Governments 1. Dependent Eligibility Audit 2. Spousal Eligibility Audit 3. Smoking Surcharge 4. Change Networks 5. GAP Coverage 6. Health Reimbursement Accounts 7. Health Risk Assessments 8. Private Exchange 9. Dual Option Plans 10. HDHP / HSA 11. Cost Shifting 12. Eliminating Subsidies for Dependents 13. Spousal Surcharge 14. Amending Section 125 Plans for Open Enrollment 15. Level Funding Plans 16. Self-Funding Plans 17. Changing Non-Contributory Rates to Contributory 18. Carve out Stop-Loss from Blue Cross Blue Shield 19. Telemedicine 20. Medical Management 21. Clinics in-house 22. Direct Contact with Providers

6 2015 Health Care Reform STATUTORY DEADLINES & IMPLICATIONS FOR LOCAL GOVERNMENTS

7 Statutory Deadlines and Implications for Local Governments Section 6056 Reporting by an ALE member on the health care coverage offered to its full-time employees. Information is used to determine an employee s eligibility for the premium tax credit and to administer section 4980H Forms 1094-C (Transmittal of Employer Level Data) 1095-C (Employee Statement) Due Dates Furnished to employee by January 31, 2016 Filed with the IRS by February 28 or March 31, 2016 (if filing electronically)

8 Statutory Deadlines and Implications for Local Governments Section 6055 Reporting by anyone that provides minimum essential coverage to an individual during a calendar year. Information is used to determine the months in which an individual was covered by minimum essential coverage for section 5000A. (Non-ALE members report under section 6055 only) Forms 1094-B 1095-B

9 Statutory Deadlines and Implications for Local Governments Section 510 Liability / Anti-Abuse Provision

10 Statutory Deadlines and Implications for Local Governments Alternatives to Traditional Plan Offerings MEC Plan Competitive strategy for employers to avoid the ACA no offer penalty using minimum essential coverage Reference-based pricing

11 Statutory Deadlines and Implications for Local Governments Cadillac Tax Starting 2018, the ACA will impose a 40% annual excise tax on plans with annual dollar limits exceeding $10,200 for individuals or $27,500 for a family (not including vision and dental benefits).

12 2015 Health Care Reform PLAN DESIGN CHANGES

13 Plan Design Changes Cost-Sharing Limits Effective for plan years beginning on or after Jan. 1, 2014, non-grandfathered health plans are subject to limits on costsharing for essential health benefits (EHB). As enacted, the ACA included an overall annual limit (or an out-of-pocket maximum) for all health plans and an annual deductible limit for small insured health plans. On April 1, 2014, the ACA s annual deductible limit was repealed. This repeal is effective as of the date that the ACA was enacted, back on March 23, The out-of-pocket maximum, however, continues to apply to all non-grandfathered group health plans, including selfinsured health plans and insured plans. Effective for plan years beginning on or after Jan. 1, 2015, a health plan s outof-pocket maximum for EHB may not exceed $6,600 for selfonly coverage and $13,200 for family coverage.

14 2015 Health Care Reform REINSURANCE FEES

15 2015 Health Care Reform Reinsurance Fees The reinsurance program s fees will be based on a national contribution rate, which the Department of Health and Human Services (HHS) announces annually. For 2015, HHS announced a national contribution rate of $44 per enrollee per year (about $3.67 per month). The reinsurance fee is calculated by multiplying the number of covered lives (employees and their dependents) for all of the entity s plans and coverage that must pay contributions by the national contribution rate for the year.

16 2015 Health Care Reform EMPLOYER PENALTY RULES

17 2015 Health Care Reform Employer Penalty Rules One-year Delay for Medium-sized ALEs Eligible ALEs with fewer than 100 full-time employees (including FTEs) have an additional year, until 2016, to comply with the shared responsibility rules. This delay applies for all calendar months of 2015 plus any calendar months of 2016 that fall within the 2015 plan year. ALEs that change their plan years after Feb. 9, 2014, to begin on a later calendar date are not eligible for the delay. To qualify for this delay, an employer: 1) Must employ a limited workforce of at least 50 full-time employees (including FTEs), but fewer than 100 full-time employees (including FTEs) during ) May not reduce its workforce size or overall hours of service of its employees in order to satisfy the limited workforce size condition during the period beginning on Feb. 9, 2014 and ending on Dec. 31, ) May not eliminate or materially reduce the health coverage, if any, it offered as of Feb. 9, 2014, during the period ending Dec. 31, 2015 (or the last day of the plan year that begins in 2015)

18 Employer Penalty Rules To Do: Determine whether you qualify for the one-year Delay for Medium-sized ALEs: Review whether you have fewer than 100 full-time employees (including FTEs) for 2014 and meet the other requirements for the one-year delay. Work with your advisors to monitor IRS information on the certification process for medium-sized ALEs. Keep in mind that ALEs eligible for the one-year delay must still report under Section 6056 for 2015.

19 2015 Health Care Reform Full-Time Employees An optional safe harbor method for determining full-time status, intended to give employers flexible and workable options and greater predictability for determining fulltime status. The details vary based on whether the employees are ongoing or new, and whether new employees are expected to work full-time or are variable, seasonal or parttime. This method involves a measurement period for counting hours of service, an administrative period that allows time for enrollment and disenrollment, and a stability period when coverage may need to be provided, depending on an employee s average hours of service during the measurement period. Look-back Measurement Method If an employer meets the requirements of the safe harbor, it will not be liable for penalties for employees who work full-time during the stability period, if they did not work full-time hours during the measurement period.

20 2015 Health Care Reform Affordability of Coverage Under the ACA, an employer s health coverage is considered affordable if the employee s required contribution to the plan does not exceed 9.5 percent of the employee s household income for the taxable year (adjusted to 9.56 percent for plan years beginning in 2015 under Rev. Proc ). Household income means the modified adjusted gross income of the employee and any members of the employee s family. Because an employer generally will not know an employee s household income, the IRS provided three affordability safe harbors that employers may use to determine affordability based on information that is available to them. These safe harbors allow an employer to measure affordability based on: 1. The employee s W-2 wages; 2. The employee s rate of pay; or 3. The federal poverty level for a single individual.

21 2015 Health Care Reform Minimum Value Under the ACA, a plan provides minimum value if the plan s share of total allowed costs of benefits provided under the plan is at least 60 percent of those costs. The IRS and HHS provided the following three approaches for determining minimum value: 1. A Minimum Value (MV) Calculator (provided by HHS); 2. A design-based safe harbor checklists; and 3. An actuarial certification. In addition, any plan in the small group market that meets any of the metal levels of coverage (that is, bronze, silver, gold or platinum) provides minimum value.

22 Employer Penalty Rules To Do: Review your health plan design: Use the monthly measurement method or the look-back measurement method to confirm that health plan coverage will be offered to all full-time employees (and dependent children). If you have employees with varying hours, the look-back measurement method may be the best fit for you. To use the look-back measurement method, you will need to select your measurement, administrative and stability periods. Please contact Wells Insurance for more information on the look-back measurement method. Review the cost of your health plan coverage to determine whether it s affordable for your employees by using one or more of the affordability safe harbors. Coverage is affordable if the employee portion of the premium for the lowest-cost, selfonly coverage that provides minimum value does not exceed 9.5 percent of an employee s W-2 wages, rate-of-pay income or the federal poverty level for a single individual. The cost of family coverage is not taken into account. Determine whether the plan provides minimum value by using one of the four available methods (minimum value calculator, safe harbor checklists, actuarial certification or metal level).

23 2015 Health Care Reform REPORTING OF COVERAGE

24 2015 Health Care Reform Reporting of Coverage The ACA requires ALEs to report information to the IRS and to employees regarding the employer-sponsored health coverage. The IRS will use the information that ALEs report to verify employer-sponsored coverage and administer the employer shared responsibility provisions. This reporting requirement is found in Code section All ALEs with full-time employees, even medium-sized ALEs that qualify for the one-year delay from the pay or play rules, must report under section 6056 for In addition, the ACA requires every health insurance issuer, sponsor of a self-insured health plan, government agency that administers government-sponsored health insurance programs and any other entity that provides minimum essential coverage (MEC) to file an annual return with the IRS reporting information for each individual who is provided with this coverage. Related statements must also be provided to individuals. This reporting requirement is found in Code section 6055.

25 2015 Health Care Reform Reporting of Coverage Both of these reporting requirements become effective in The first returns will be due in 2016 for health plan coverage provided in The section 6055 and 6056 returns must be filed with the IRS by Feb. 28 (or March 31, if filed electronically) of the year after the calendar year to which the returns relate. Written statements must be provided to employees no later than Jan. 31 of the year following the calendar year in which coverage was provided. ALEs with self-funded plans will be required to comply with both reporting obligations, while ALEs with insured plans will only need to comply with section To simplify the reporting process, the IRS will allow ALEs with self-insured plans to use a single combined form for reporting the information required under both section 6055 and 6056.

26 Reporting of Coverage To Do: Prepare for Health Plan Reporting: Determine which reporting requirements apply to you and your health plans. Start analyzing the information you will need for reporting and coordinate internal and external resources to help track the required data.

27 2015 Health Care Reform WE RE HERE TO HELP

28 Wells Insurance Your Health Care Reform Partner

29 Wells Insurance Health Care Reform Legislative Updates Be the first to know when regulations change our timely legislative documents are written and reviewed by lawyers to ensure accuracy. New Options for Individuals Whose Policies Have Been Cancelled Proposed Expansion of Excepted Benefits Reinsurance Program Changes for 2015

30 Wells Insurance Employee Education Materials Our educational documents for employees are easy to understand, and include everything from flyers to payroll stuffers to help keep your employees up to date. Health Care Reform: General Questions & Answers for Employees Health Care Reform: The Who, What and When Health Care Reform: Marketplace Health Plan Categories

31 Wells Insurance Health Care Reform Video Content Our short, to-the-point videos detail health care reform and the changes it brings. With videos for you, and videos for your employees, we ll talk you through it all. Health Care Reform: W-2 Reporting Requirements Health Care Reform: Summary of Benefits and Coverage Health Care Reform: Patient s Bill of Rights Health Care Reform: Age 26 Rule

32 Wells Insurance Health Care Reform Penalty Tools The employer shared responsibility penalties are just around the corner. Are you prepared? We can estimate the potential cost of the shared responsibility penalties and help you avoid them.

33 Wells Insurance Community Forum You don t need a big HR department to connect with other professionals to discuss questions and concerns that s what our Community forum is for.

34 Wells Insurance Questions? Thanks for your attention. Please contact us with any questions or to learn more about what we offer. Wells Insurance One North Third Street Wilmington, NC

Year-end Checklist for 2015 Compliance

Year-end Checklist for 2015 Compliance Brought to you by Fringe Benefit Plans, Inc. / (407) 862-5900 Year-end Checklist for 2015 Compliance The Affordable Care Act (ACA) has made a number of significant changes to group health plans since the

More information

Legislative Brief: 2015 COMPLIANCE CHECKLIST. Laurus Strategies

Legislative Brief: 2015 COMPLIANCE CHECKLIST. Laurus Strategies Laurus Strategies Legislative Brief: 2015 COMPLIANCE CHECKLIST The Affordable Care Act (ACA) has made a number of significant changes to group health plans since the law was enacted over four years ago.

More information

Helbling Benefits Consulting Your Health Care Reform Partner

Helbling Benefits Consulting Your Health Care Reform Partner Helbling Benefits Consulting Your Health Care Reform Partner Will you be hit with penalties due to health care reform? Once the employer mandate becomes effective, some employers may have to pay a penalty

More information

Reporting Requirements for Employers and Health Plans

Reporting Requirements for Employers and Health Plans Brought to you by Cross Employee Benefits Reporting Requirements for Employers and Health Plans The Affordable Care Act (ACA) created a number of federal reporting requirements for employers and health

More information

2015-2016: What You Need To Know About The Affordable Care Act

2015-2016: What You Need To Know About The Affordable Care Act 2015-2016: What You Need To Know About The Affordable Care Act A nonprofit independent licensee of the Blue Cross Blue Shield Association National strength. Local focus. Individual care. SM We are committed

More information

Health care reform for large businesses

Health care reform for large businesses FOR PRODUCERS AND EMPLOYERS Health care reform for large businesses A guide to what you need to know now DECEMBER 2013 CONTENTS 2 Introduction Since 2010 when the Affordable Care Act (ACA) was signed into

More information

Self-insured Plans under Health Care Reform

Self-insured Plans under Health Care Reform Brought to you by Good Neighbor Insurance Self-insured Plans under Health Care Reform The Affordable Care Act (ACA) includes numerous reforms affecting the health coverage that employers provide to their

More information

Exchange 101. August 2013

Exchange 101. August 2013 Exchange 101 August 2013 455430 27517 Penalties for individuals 2017 and beyond: Annual adjustments 2016: Greater of $695 or 2.5% of taxable income 2015: Greater of $325 or 2% of taxable income 2014: Greater

More information

Self-insured Plans under Health Care Reform

Self-insured Plans under Health Care Reform Brought to you by Cottingham & Butler Self-insured Plans under Health Care Reform The Affordable Care Act (ACA) includes numerous reforms affecting the health coverage that employers provide to their employees.

More information

Employer s Guide To Health Care Reform

Employer s Guide To Health Care Reform Employer s Guide To Health Care Reform A nonprofit independent licensee of the Blue Cross Blue Shield Association National strength. Local focus. Individual care. SM As part of our commitment to being

More information

Affordable Care Act (ACA) Violations Penalties and Excise Taxes

Affordable Care Act (ACA) Violations Penalties and Excise Taxes Brought to you by The Insurance Exchange Affordable Care Act (ACA) Violations Penalties and Excise Taxes The Affordable Care Act (ACA) includes numerous reforms for group health plans and creates new compliance

More information

Patient Protection and Affordable Care Act Compliance Checklist for Employers

Patient Protection and Affordable Care Act Compliance Checklist for Employers October, 2014 Patient Protection and Affordable Care Act Compliance Checklist for Employers Under the Employer Mandate in the Affordable Care Act, effective January 1, 2015, employers with 50 or more full-time

More information

Employer Reporting of Health Coverage Code Sections 6055 & 6056

Employer Reporting of Health Coverage Code Sections 6055 & 6056 Brought to you by Hickok & Boardman HR Intelligence Employer Reporting of Health Coverage Code Sections 6055 & 6056 The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue

More information

Health Reform. Employer Penalty Delay: What are the Consequences? Impact of the Delay on Employers

Health Reform. Employer Penalty Delay: What are the Consequences? Impact of the Delay on Employers Health Reform Employer Penalty Delay: What are the Consequences? Martin Haitz (484) 270-2575 martin.haitz@marcumfs.com Issued date: 07/29/13 The employer penalty provisions and two reporting requirements

More information

to Health Care Reform

to Health Care Reform The Employer s Guide to Health Care Reform What you need to know now to: Consider your choices Decide what s best for you Follow the rules 2013-2014 Health care reform is the law of the land. Some don

More information

Health insurance Marketplace. What to expect in 2014

Health insurance Marketplace. What to expect in 2014 Health insurance Marketplace What to expect in 2014 Overview The Affordable Care Act (ACA) includes several provisions geared to extend greater access to health insurance benefits to more people. Beginning

More information

What s News in Tax Analysis That Matters from Washington National Tax

What s News in Tax Analysis That Matters from Washington National Tax What s News in Tax Analysis That Matters from Washington National Tax The Impact of the Affordable Care Act on International Assignees and Their Health Care Plans Employers and individuals in the United

More information

The Impact on Business

The Impact on Business The Impact on Business Affordable Care Act Reform addresses access to coverage not healthcare cost or population health ACA passed in 2010. The Supreme Court upheld ACA in 2012 and President Obama was

More information

COMPLIANCE ADVISOR. 2014 Affordable Care Act Compliance Checklist

COMPLIANCE ADVISOR. 2014 Affordable Care Act Compliance Checklist COMPLIANCE ADVISOR August 2013 2014 Affordable Care Act Compliance Checklist IN THIS ISSUE: 1 2 3 4 5 6 7 8 9 10 11 12 Grandfathered Plan Status Confirmation No Annual Dollar Limits on Essential Health

More information

Potential Penalties for Employers under the Pay or Play Rules

Potential Penalties for Employers under the Pay or Play Rules The Affordable Care Act (ACA) brings many changes to employers and health plans. One such change essentially amounts to a requirement for some employers to offer a certain level health care to their employees

More information

HEALTH CARE REFORM CHECKLIST

HEALTH CARE REFORM CHECKLIST HEALTH CARE REFORM CHECKLIST As a small employer, you need to be aware of the new regulations tied to the Affordable Care Act. Refer to this checklist to ensure you understand each one and that you re

More information

WE RE HERE TO HELP YOU TRANSITION TO THE NEW HEALTH BENEFIT EXCHANGE

WE RE HERE TO HELP YOU TRANSITION TO THE NEW HEALTH BENEFIT EXCHANGE HEALTH CARE REFORM: INFORMATION VERMONTERS NEED TO KNOW The Federal Affordable Care Act means new health insurance products, new rules and new systems for purchasing plans beginning in 2013. Blue Cross

More information

Health Care Reform: 2015 Refresher of the Affordable Care Act (ACA)

Health Care Reform: 2015 Refresher of the Affordable Care Act (ACA) Health Care Reform: 2015 Refresher of the Affordable Care Act (ACA) Brought to you by Aon Presented by: Ryan Comstock & Shawna Brown This information is provided for informational purposes only and is

More information

Health care reform at-a-glance. August 2014

Health care reform at-a-glance. August 2014 Health care reform at-a-glance August 2014 Employer mandate Shared responsibility payment for failing to offer coverage to at least 95%* of all fulltime employees (FTE) and children if any FTE gets subsidy

More information

Treasury, IRS Release Final Rules on Employer Information Reporting Requirements Under Health Care Law

Treasury, IRS Release Final Rules on Employer Information Reporting Requirements Under Health Care Law March 6, 2014 Treasury, IRS Release Final Rules on Employer Information Reporting Requirements Under Health Care Law The Department of the Treasury and the IRS late yesterday (March 6, 2014) released long

More information

2015 Open Enrollment Checklist

2015 Open Enrollment Checklist Brought to you by Benefit Administration Company, LLC. 2015 Open Enrollment Checklist To prepare for open enrollment, health plan sponsors should become familiar with the legal changes affecting the design

More information

Health Care Reform: What to Expect in 2013 2014. Employee Benefits Series. Health Care Reform 2015 COMPLIANCE CHECKLIST

Health Care Reform: What to Expect in 2013 2014. Employee Benefits Series. Health Care Reform 2015 COMPLIANCE CHECKLIST Health Care Reform: What to Expect in 2013 2014 Employee Benefits Series Health Care Reform 2015 COMPLIANCE CHECKLIST This checklist is designed to help employers who sponsor group health plans review

More information

PENALTIES Employer Shared Responsibility under the Affordable Care Act (ACA)

PENALTIES Employer Shared Responsibility under the Affordable Care Act (ACA) PENALTIES Employer Shared Responsibility under the Affordable Care Act (ACA) What employers need to know to make informed decisions about ACA compliance. Employer Shared Responsibility Under the employer

More information

Employer-Shared Responsibility

Employer-Shared Responsibility Affordable Care Act Planning to Deal with the Pay-or-Play Penalties Effective January 1, 2015 Anne Hydorn Hanson Bridgett LLP Telephone: (415) 995-5893 Email: ahydorn@hansonbridgett.com Judy Boyette Hanson

More information

Health care reform at-a-glance. December 2013

Health care reform at-a-glance. December 2013 December 2013 Employer mandate Play or pay penalty for failing to offer coverage to at least 95% of all full-time employees (FTE) and children if any FTE gets subsidy in exchange $2,000 (indexed) times

More information

Health Reform Employer Impact Analysis. Sample Employer. Prepared for. Date

Health Reform Employer Impact Analysis. Sample Employer. Prepared for. Date Health Reform Employer Impact Analysis Prepared for Sample Employer Date 2 Health Reform Employer Impact Analysis Overview Beginning in 2014, an applicable large employer becomes subject to what are referred

More information

Countdown to 2014: HEALTH CARE REFORM WHAT YOU NEED TO KNOW

Countdown to 2014: HEALTH CARE REFORM WHAT YOU NEED TO KNOW Countdown to 2014: HEALTH CARE REFORM WHAT YOU NEED TO KNOW Coordinated by: -The Affordable Care Act- -Employer Notification- Monday, September 9, 2013 Registration 8:15 a.m. 8:45 a.m. Welcome 8:45 a.m.

More information

Important Effective Dates for Employers and Health Plans

Important Effective Dates for Employers and Health Plans Brought to you by Sullivan Benefits Important Effective Dates for Employers and Health Plans On March 23, 2010, President Obama signed the health care reform bill, or Affordable Care Act (ACA), into law.

More information

Parker, Smith & Feek - ACA Update: 2014 November 2013

Parker, Smith & Feek - ACA Update: 2014 November 2013 Affordable Care Act (ACA) Background Core of law is an attempt to reduce # of uninsured Multiple approaches to expanding insurance coverage Requires most in US to have health insurance Creates state-based

More information

Health Care Reform: A Guide for Self-Funded Plans. Key steps to prepare for 2014 Preparing for the future Snapshot of reform (2010-2019)

Health Care Reform: A Guide for Self-Funded Plans. Key steps to prepare for 2014 Preparing for the future Snapshot of reform (2010-2019) Health Care Reform: A Guide for Self-Funded Plans Key steps to prepare for 2014 Preparing for the future Snapshot of reform (2010-2019) Table of Contents Health Care Reform is Here: Are you ready? 3 Key

More information

4/8/2013. Health Care Reform and the. NYS Exchange. Dr. Arthur Vercillo, MD Regional President April 8, 2013. Health Care Reform and the NYS Exchange

4/8/2013. Health Care Reform and the. NYS Exchange. Dr. Arthur Vercillo, MD Regional President April 8, 2013. Health Care Reform and the NYS Exchange Health Care Reform and the NYS Exchange Presentation to the Health Planning Council Advisory Board April 8, 2013, Ithaca NY By Dr. Arthur Vercillo, MD Additional resources on next to last slide. Health

More information

American employers need prompt action on these six significant challenges. We urge Congress and the administration to address them now.

American employers need prompt action on these six significant challenges. We urge Congress and the administration to address them now. In June 2014, the Board of Directors of the American Benefits Council (the Council) approved a long-term public policy strategic plan, A 2020 Vision: Flexibility and the Future of Employee Benefits. It

More information

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. Vermont Edition

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. Vermont Edition HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS Vermont Edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM There s a constant stream of changes and updates related to health care reform,

More information

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: October 2015

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: October 2015 AFFORDABLE CARE ACT Employers that offer health care coverage to employees are responsible for complying with many of the provisions of the Affordable Care Act (ACA). Most health reform changes apply regardless

More information

Employer Tax Penalties Linked to Employees Receiving Tax Credits. Calculation of Non-deductible Excise Taxes Under IRC 4380H

Employer Tax Penalties Linked to Employees Receiving Tax Credits. Calculation of Non-deductible Excise Taxes Under IRC 4380H Washington Council Employer Tax Penalties Linked to Employees Receiving Tax Credits Employers will face taxes under IRC 4980H if they do not offer minimum essential coverage or if the coverage they offer

More information

Fast Forward. 2015 Employer Mandate: Pay or Play?

Fast Forward. 2015 Employer Mandate: Pay or Play? Fast Forward 2015 Employer Mandate: Pay or Play? Employer Mandate Beginning Jan. 1, 2015, the Affordable Care Act (ACA) will impose an employer mandate that states that grandfathered and non-grandfathered

More information

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: November 2014

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: November 2014 AFFORDABLE CARE ACT Employers that offer health care coverage to employees are responsible for complying with many of the provisions of the Affordable Care Act (ACA). Most health reform changes apply regardless

More information

Employee Benefits Compliance

Employee Benefits Compliance Employee Benefits Compliance Pay or Play Delay, Does it Apply and Strategies to Comply Wells Fargo Insurance 2014 Issues and beyond. U.S. citizens and legal residents are required to have "minimum essential

More information

ACA REPORTING WEBINAR QUESTIONS AND ANSWERS

ACA REPORTING WEBINAR QUESTIONS AND ANSWERS ACA REPORTING WEBINAR QUESTIONS AND ANSWERS The following questions on ACA reporting requirements to the IRS were collected at a series of webinars offered by ThinkHR. Introduction The Affordable Care

More information

THE AFFORDABLE CARE ACT ( ACT ), NEW EMPLOYER MANDATES, AND IMPACTS ON EMPLOYER- SPONSORED HEALTH INSURANCE PLANS

THE AFFORDABLE CARE ACT ( ACT ), NEW EMPLOYER MANDATES, AND IMPACTS ON EMPLOYER- SPONSORED HEALTH INSURANCE PLANS Community THE AFFORDABLE CARE ACT ( ACT ), NEW EMPLOYER MANDATES, AND IMPACTS ON EMPLOYER- SPONSORED HEALTH INSURANCE PLANS Prepared for the 2014 Massachusetts Municipal Association Annual Meeting On March

More information

Health Policy Essentials: Private Health Insurance. Bernadette Fernandez, Annie Mach, & Namrata Uberoi February 13, 2015

Health Policy Essentials: Private Health Insurance. Bernadette Fernandez, Annie Mach, & Namrata Uberoi February 13, 2015 Health Policy Essentials: Private Health Insurance Bernadette Fernandez, Annie Mach, & Namrata Uberoi February 13, 2015 Briefing Agenda What is the purpose of private health insurance (PHI)? How is PHI

More information

Healthy Business Chat 07/10/2014

Healthy Business Chat 07/10/2014 Healthy Business Chat 07/10/2014 1 What Is An Insurance Exchange? An Insurance Exchange is an organized marketplace for insurance plans to compete and offer services efficiently in the small group and

More information

The Effect of the Affordable Care Act on Your Small Business. Presented to : Greater Kansas City Chamber Business Class

The Effect of the Affordable Care Act on Your Small Business. Presented to : Greater Kansas City Chamber Business Class The Effect of the Affordable Care Act on Your Small Business Presented to : Greater Kansas City Chamber Business Class November 6, 2013 KHN Kaiser Health News Current Headlines October 31- November 4,

More information

Affordable Care Act Resource Guide

Affordable Care Act Resource Guide Affordable Care Act Resource Guide for Businesses with fewer than 50 employees Effective October 29, 2015 Form No. 3-1018 (11-15) The information in this document is a general overview of the rules, regulations

More information

Heffernan Benefit Advisors Presents Health Care Reform: What Non-Profits Need to Know. The session will begin shortly

Heffernan Benefit Advisors Presents Health Care Reform: What Non-Profits Need to Know. The session will begin shortly Heffernan Benefit Advisors Presents Health Care Reform: What Non-Profits Need to Know The session will begin shortly Sound should come through your speakers when the session begins Verify that the volume

More information

Health Care Law Implementation: What Nonprofits Need to Know WELCOME!

Health Care Law Implementation: What Nonprofits Need to Know WELCOME! Health Care Law Implementation: What Nonprofits Need to Know WELCOME! Health Care Law Implementation: What Nonprofits Need to Know (PPACA) Health Care Law Implementation: What Nonprofits Need to Know Heather

More information

Important Effective Dates for Employers and Health Plans

Important Effective Dates for Employers and Health Plans Brought to you by Hipskind Seyfarth Risk Solutions Important Effective Dates for Employers and Health Plans On March 23, 2010, President Obama signed the health care reform bill, or Affordable Care Act

More information

CLICK HERE TO ADD TITLE

CLICK HERE TO ADD TITLE CLICK HERE TO ADD TITLE HEALTH CARE REFORM & ITS EFFECTS ON YOUR BUSINESS Presented by Jenny Arthur, SPHR AGENDA Background/History The Past: Previously Implemented HCR Provisions The Present: Current/Pending

More information

Health Care Reform: Ready or Not, Here it Comes! Presented by:

Health Care Reform: Ready or Not, Here it Comes! Presented by: Broader Perspective. Business Solutions. Health Care Reform: Ready or Not, Here it Comes! Presented by: Ryan Fridborg, MAOD, SPHR Executive Vice President, Employee Benefits rfridborg@boltonco.com Marilyn

More information

The Affordable Care Act: Running the ACA Reporting Maze

The Affordable Care Act: Running the ACA Reporting Maze The Affordable Care Act: Running the ACA Reporting Maze National Association of State Comptrollers March 12, 2015 Prepared by: Russell Chapman Special Counsel Littler Mendelson, P.C. Dallas Office 214.880.8177

More information

ACA Employer Mandate: The Ultimate Guide

ACA Employer Mandate: The Ultimate Guide ACA Employer Mandate: The Ultimate Guide Table of Contents Are you ready? WHO needs to comply? WHAT forms do you need to file to comply? WHEN do you need to file the forms? WHERE do you get the forms?

More information

Things Small Businesses Need To Know About Health Care Reform

Things Small Businesses Need To Know About Health Care Reform 7 Things Small Businesses Need To Know About Health Care Reform Make sure your business meets the requirements of the Affordable Care Act on schedule 7 Things Small Businesses Need To Know About Health

More information

An Employer s Guide to Health Care Reform

An Employer s Guide to Health Care Reform An Employer s Guide to Health Care Reform Important details to navigate employer-provided benefits amidst a changing health care landscape. PAGE 1 Navigating a new health care landscape Health care reform,

More information

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. New York Edition

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. New York Edition HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS New York Edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM PAGE 2 www.discovermvp.com There s a constant stream of changes and updates related

More information

To enforce these penalties and properly administer the premium tax credits, ACA imposes two annual reporting requirements on employers.

To enforce these penalties and properly administer the premium tax credits, ACA imposes two annual reporting requirements on employers. Employer Health Coverage Reporting Requirements for 2015 Summary The Affordable Care Act (ACA) includes reporting requirements for health care coverage in 2015. The reports will give information to the

More information

THE AFFORDABLE CARE ACT AND YOU. An Overview for Large Groups

THE AFFORDABLE CARE ACT AND YOU. An Overview for Large Groups THE AFFORDABLE CARE ACT AND YOU An Overview for Large Groups TABLE OF CONTENTS Find Answers to Your Questions About Employer Mandate... 3 Access to Coverage... 5 Coverage Changes... 7 Health and Wellness

More information

IRS Issues Final Rules on Large Employer Reporting Requirements

IRS Issues Final Rules on Large Employer Reporting Requirements IRS Issues Final Rules on Large Employer Reporting Requirements Provided by TRUEbenefits LLC On March 5, 2014, the IRS issued a final rule on the section 6056 reporting requirements. Reporting is required

More information

Affordable Care Act and Employers

Affordable Care Act and Employers Affordable Care Act and Employers Important Details about Health Care Reform The Affordable Care Act (ACA, i.e., federal health care reform) makes significant changes to health insurance practices nationwide.

More information

Legislative Brief: PAY OR PLAY PENALTIES LOOK BACK MEASUREMENT METHOD EXAMPLES. EmPowerHR

Legislative Brief: PAY OR PLAY PENALTIES LOOK BACK MEASUREMENT METHOD EXAMPLES. EmPowerHR EmPowerHR Legislative Brief: PAY OR PLAY PENALTIES LOOK BACK MEASUREMENT METHOD EXAMPLES The Affordable Care Act (ACA) imposes a penalty on applicable large employers (ALEs) that do not offer health insurance

More information

Health Care Reform Key Points

Health Care Reform Key Points Health Care Reform Key Points Contact Us 855.220.8634 HealthCareReform@eidebailly.com Individual Implications Individual mandate to have health insurance Penalties applies if NO health insurance 2014 -

More information

Section 2: INDIVIDUALS WHO CURRENTLY HAVE

Section 2: INDIVIDUALS WHO CURRENTLY HAVE Section 2: INDIVIDUALS WHO CURRENTLY HAVE COVERAGE OR AN OFFER OF COVERAGE FROM THEIR EMPLOYER Section 2 covers enrollment issues for individuals who have coverage or an offer of coverage whether through

More information

Health Reform. Presented by USI Affinity

Health Reform. Presented by USI Affinity Health Reform Presented by USI Affinity USI Affinity Introduction USI Affinity has been working with Associations and their members for over 50 years. USI Affinity has offices in Philadelphia, Harrisburg,

More information

The Affordable Care Act: Summary of Employer Requirements

The Affordable Care Act: Summary of Employer Requirements The Affordable Care Act: Summary of Employer Requirements February 2013 Disclaimer Any US tax advice contained herein was not intended or written to be used, and cannot be used, for the purpose of avoiding

More information

Patient Protection and Affordable Care Act (H.R. 3590)

Patient Protection and Affordable Care Act (H.R. 3590) on Health Reform Passing comprehensive health care reform has been a priority of the President and Congress. The U.S. House of Representatives passed the Affordable Health Care for America Act on November

More information

Q&A from Assurex Global Webinar. Employer ACA Reporting Requirements. Q: Where will these forms come from? will the IRS provide them?

Q&A from Assurex Global Webinar. Employer ACA Reporting Requirements. Q: Where will these forms come from? will the IRS provide them? Q&A from Assurex Global Webinar Employer ACA Reporting Requirements Questions Q: Where will these forms come from? will the IRS provide them? A: IRS has provided draft Forms 1094 and 1095 along with draft

More information

Chao & Company, Ltd. 8460 Tyco Road, Suite E, Vienna, Virginia 22182 Telephone (703) 847-4380, Facsimile (703) 847-4384 www.chaoco.

Chao & Company, Ltd. 8460 Tyco Road, Suite E, Vienna, Virginia 22182 Telephone (703) 847-4380, Facsimile (703) 847-4384 www.chaoco. The Affordable Care Act 1302(d)(1) defines the levels of health plan coverage for the purpose of meeting the following main objectives: To establish the minimum level of coverage an applicable individual

More information

Health care reform: A guide for employers

Health care reform: A guide for employers Health care reform: A guide for employers Updated October 2014 Health care reform: A guide for employers This guide was developed by Priority Health to help answer employers questions regarding health

More information

Affordable Care Act Update

Affordable Care Act Update Affordable Care Act Update Presented by: Jill Brooking, Vice President, Benefits Compliance National Financial Partners Corp. and its subsidiaries do not provide legal or tax advice. Compliance, regulatory

More information

Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Employer Information

Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Employer Information Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Employer Information DISCLAIMER 2 This information is being provided in an effort to alert you to changes required by the

More information

Your guide to health care reform provisions

Your guide to health care reform provisions Your guide to health care reform provisions February 2014 edition Since the Patient Protection and Affordable Care Act (PPACA) was enacted in March 2010, businesses have been impacted by federal health

More information

Two New Reporting Requirements Beginning in 2016 But Are Important Now

Two New Reporting Requirements Beginning in 2016 But Are Important Now Two New Reporting Requirements Beginning in 2016 But Are Important Now Recently, the IRS published final regulations implementing two new information reporting requirements under ACA that are first due

More information

The Large Business Guide to Health Care Law

The Large Business Guide to Health Care Law The Large Business Guide to Health Care Law How the new changes in health care law will affect you and your employees Table of contents Introduction 3 Part I: A general overview of the health care law

More information

Scott Lyon, Senior Vice President Small Business Association of Michigan

Scott Lyon, Senior Vice President Small Business Association of Michigan Scott Lyon, Senior Vice President Small Business Association of Michigan Patient Protection and Affordable Care Act H.R. 3590 Health Care & Education Affordability Reconciliation Act H.R. 4872 20,000 30,000

More information

Important Effective Dates for Employers and Health Plans

Important Effective Dates for Employers and Health Plans Brought to you by Krempa Associates, Inc. Important Effective Dates for Employers and Health Plans On March 23, 2010, President Obama signed the health care reform bill, or Affordable Care Act (ACA), into

More information

Health Reform Changes: What s New for 2014? New Hampshire Insurance Department September 11, 2013

Health Reform Changes: What s New for 2014? New Hampshire Insurance Department September 11, 2013 Health Reform Changes: What s New for 2014? New Hampshire Insurance Department September 11, 2013 1 New Hampshire Insurance Department Presentation Overview What s New in 2014 Key Questions for Individuals

More information

SURVIVAL GUIDE FOR SMALL BUSINESS

SURVIVAL GUIDE FOR SMALL BUSINESS HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS Vermont edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM There s a constant stream of changes and updates related to health care reform,

More information

Simple answers to health reform s complex issues facing every employer, and what you can do now to protect your business and your future.

Simple answers to health reform s complex issues facing every employer, and what you can do now to protect your business and your future. Simple answers to health reform s complex issues facing every employer, and what you can do now to protect your business and your future. If you have any questions, please contact: Health Reform: A Guide

More information

Health in a Handbasket What Employers Need to Know Now

Health in a Handbasket What Employers Need to Know Now Health in a Handbasket What Employers Need to Know Now Presented by Steven J. Friedman Littler, New York 212-583-2687 Agenda Full Speed Ahead: Again? Pay-or-Play: What is the optimal strategy for you?

More information

State of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE

State of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE State of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE Scott Walker, Governor Theodore K. Nickel, Commissioner Wisconsin.gov 125 South Webster Street P.O. Box 7873 Madison, Wisconsin 53707-7873 Phone:

More information

State of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE

State of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE State of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE Scott Walker, Governor Theodore K. Nickel, Commissioner Wisconsin.gov 125 South Webster Street P.O. Box 7873 Madison, Wisconsin 53707-7873 Phone:

More information

IRS Proposes Rules for Federal Subsidy of Health Insurance Purchased in State Exchanges

IRS Proposes Rules for Federal Subsidy of Health Insurance Purchased in State Exchanges IRS Proposes Rules for Federal Subsidy of Health Insurance Purchased in State Exchanges August 2011 The Internal Revenue Service (IRS) on August 12, 2011 issued proposed regulations relating to the federal

More information

Health Benefit Exchange Q&A Prepared by Nolan Langweil, JFO and Jennifer Carbee, Legislative Council Updated February 5, 2013

Health Benefit Exchange Q&A Prepared by Nolan Langweil, JFO and Jennifer Carbee, Legislative Council Updated February 5, 2013 Health Benefit Exchange Q&A Prepared by Nolan Langweil, JFO and Jennifer Carbee, Legislative Council Updated February 5, 2013 What is a Health Exchange? A health care exchange is a mechanism enabling individuals

More information

Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Agent and Broker Information

Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Agent and Broker Information Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Agent and Broker Information DISCLAIMER 2 This information is being provided in an effort to alert you to changes required

More information

FAQ New Health Insurance Law

FAQ New Health Insurance Law FAQ New Health Insurance Law (Enacted on March 21, signed into law on March 23, and amended on March 25) On March 23, 2010 President Barack Obama signed the Patient Protection & Affordable Care Act (H.R.

More information

IRS Releases Final Forms and Instructions for Affordable Care Act Reporting

IRS Releases Final Forms and Instructions for Affordable Care Act Reporting IRS Releases Final Forms and Instructions for Affordable Care Act Reporting March 24, 2015 In February 2015, the IRS released final forms and instructions related to information reporting under the Affordable

More information

Affordable Care Act (ACA) Dashboard

Affordable Care Act (ACA) Dashboard Affordable Care Act (ACA) Dashboard WORKTERRA s proprietary software tools have been designed to deliver a strategic snapshot of Health Care Reform s impact on your business. Our Affordable Care Act (ACA)

More information

REGULATORY UPDATE Vol. 1 No. 18

REGULATORY UPDATE Vol. 1 No. 18 REGULATORY UPDATE Vol. 1 No. 18 FAQs on Exchanges August 7, 2013 IN THIS ISSUE FAQs on Exchanges Employer Mandate Delay Transitional Guidance Issued Individual Mandate Final Rules Issued Possible Exchange

More information

One of the more visible changes soon to be brought MONTANA S HEALTH INSURANCE A PREVIEW OF MARKETPLACE

One of the more visible changes soon to be brought MONTANA S HEALTH INSURANCE A PREVIEW OF MARKETPLACE A PREVIEW OF MONTANA S HEALTH INSURANCE MARKETPLACE by Gregg Davis and Christina Goe One of the more visible changes soon to be brought to the forefront by passage of the Affordable Care Act (ACA) is the

More information

Healthcare Reform Preparedness for Small Businesses

Healthcare Reform Preparedness for Small Businesses Healthcare Reform Preparedness for Small Businesses Blue KC on Wheels Community awareness initiative Health screenings Wellness information Seminars on healthcare reform, health insurance and wellness

More information

Health Care Reform Frequently Asked Questions

Health Care Reform Frequently Asked Questions Health Care Reform Frequently Asked Questions On March 23, 2010, President Obama signed federal health care reform into law, also known as the Patient Protection and Affordability Act. A second, or reconciliation

More information

The Insurance Mandates of the Affordable Care Act

The Insurance Mandates of the Affordable Care Act 1 A. Affordable Care Act Individual Mandate The Insurance Mandates of the Affordable Care Act 1. All citizens of the United States are subject to the individual mandate as are all permanent residents and

More information