As explained on the official government health care site, the Affordable Care Act has three goals: The law affects both individuals and companies. For example, according to Healthcare.gov, the law: Business rules and benefits As noted on the IRS site, small companies — typically those with fewer than 50 employees — can purchase insurance through …
Health insurance is often regarded as the most desirable workplace benefit for employees, meaning health insurance is essentially a nonnegotiable perk for employers to offer. However, employers should not purchase a group health insurance plan prior to shopping around and finding the best value. Below are four questions employers may want to pose to …
Now that it is the beginning of November, we know that many companies are starting to think about or are preparing or planning for Open Enrollment this season/quarter. The open enrollment period is the time of the year in which eligible employees may enroll in your health insurance plan. To make your open enrollment process …
Last week, the Department of Labor officially delayed the Notice of Exchange/Marketplace provision of the Affordable Care Act. Employers will not be required to comply until regulations are released for the Notice. The Department felt the delay was required to be able to coordinate its efforts with the other federal Departments’ guidance on related provisions of …
Texas Governor Rick Perry officially notified the federal government on November 15, 2012 that the state will not set up an exchange for its citizens to purchase health insurance. As part of the Affordable Care Act, all states were required to notify the Department of Health and Human Services by December 14, 2012 whether or …
As most of you know, the US Supreme Court announced on June 28, 2012, their decision on the constitutionality of the health care reform law (Patient Protection and Affordable Care Act of 2010 as amended by the Health Care and Education Reconciliation Act of 2010).The Court determined that the laws are, indeed, constitutional. So, that …
The Internal Revenue Service recently issued a notice of proposed rulemaking about the fee health plans will pay to fund the Patient-Centered Outcomes Research Institute (Institute). Fully insured plans will have the fee paid by the carrier. Self-insured plans (including some HRA and health FSA plans) must calculate and pay their own fee. Comments are …
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While the U.S. Supreme Court is currently hearing arguments on the constitutionality of the Patient Protection and Affordable Healthcare Act for the next few days, we still will not have their final opinion until around June of this year. The 2700+ page Act is caught in a tug of war between the Court’s conservative and …
By Monica Z. Austin, SPHR The Patient Protection and Affordable Care Act, commonly called the Affordable Care Act or “ObamaCare,” requires most US companies to offer their employees insurance coverage for contraceptives at no extra charge. Nonexempt employers are generally required to provide coverage for the 20 contraceptive methods approved by the Food and Drug …
By Linda M. Ellis, SPHR, CEBS Under ERISA, the Department of Labor (DOL) has broad authority to investigate or audit a company’s health plan for compliance with various federal laws. In connection with an investigation or audit, the DOL generally requires submission of records or documents related to an employee benefit plan. Typically, an employer …
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