Reporting Requirements for Employers and Health Plans

Benefits Planning

The Affordable Care Act (ACA) created a number of federal reporting requirements for employers and health plans. The additional reporting is intended to promote transparency with respect to health plan coverage and costs. It will also provide the government with information to administer other ACA mandates, such as the large employer shared responsibility penalty and […]

How Do I Know Who is Eligible for COBRA and When?

Costa Rica Monkey

Employers and plan administrators should make sure they are aware of which employees are entitled to Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage. Problems can arise if COBRA is not offered to someone who is eligible to elect COBRA coverage, or if it is offered to someone who is not eligible. Under the COBRA rules, […]

5 Strategies for Reducing Health Benefit Costs in 2022

5 Strategies for Reducing Health Benefit Costs in 2022

For the past two decades, health costs have increased each year. This happens for a variety of reasons, such as inflation or, say, a global pandemic. With that in mind, employers can bank on prices going up in 2022. According to a PricewaterhouseCoopers (PwC) report, medical costs are projected to increase 6.5% in 2022. This […]

Health FSA Limit Will Increase for 2022

Health FSA Limit Will Increase for 2022

The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending accounts (FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year. On Nov. 10, 2021, the IRS released Revenue Procedure 2021-45 (Rev. Proc. 21- 45), which announced that […]

Compliance Regulations for Business Using Electronic Media in Connection with their Employee Benefit Plans

Compliance Regulations for Business Using Electronic Media in Connection with their Employee Benefit Plans

Employers are increasingly using electronic media in connection with their employee benefit plans, including their group health plans. In general, federal law allows employers to provide most health plan notices electronically, provided they comply with certain rules regarding electronic delivery. Department of Labor (DOL) regulations contain a safe harbor under which employers may use electronic […]

California Individual Health Insurance Mandate

California Individual Health Insurance Mandate

Beginning in 2020, California imposed a state individual mandate that requires individuals in California to maintain acceptable health coverage or pay a penalty. The California law largely mirrors the federal individual mandate requirement under the Affordable Care Act (ACA) that was effectively eliminated, beginning in 2019. California was among the first states to enact its […]

MLR Rebate

MLR

How Employers Should Handle MLR Rebates The Affordable Care Act (ACA) established medical loss ratio (MLR) rules to help control health care coverage costs and ensure that enrollees receive value for their premium dollars. The MLR rules require health insurance issuers to spend 80-85 percent of premium dollars on medical care and health care quality […]

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