Beginning in 2014, most U.S. citizens and legal residents must pay an Individual Mandate tax if they do not have at least minimum essential coverage for themselves and their dependents, unless they qualify for one of the exemptions from the tax. For noncompliance in 2014, the annual penalty is the greater of $95 per person or 1% of modified adjusted gross income (MAGI).
Friday, August 15, 2014
As of the first day of the 2014 policy year, non-grandfathered small group health plans (both inside and outside the Exchanges) will be required to provide coverage that meets certain minimum standards.
Wednesday, August 6, 2014
This article explains what the Look-Back Measurement Method is and how to use it. Under the Employer Shared Responsibility Provisions of the Affordable Care Act (ACA), large employers may use the Look-Back Method to determine which employees are full-time.
Monday, August 4, 2014
Affordability under the Employer Shared Responsibility provisions of the ACA - This Leavitt white paper was updated on August 4th, 2014. A pdf of the updated version is available below.
Various articles covering the most recent benefits news
Friday, May 9, 2014
IRS Rev. Proc 2014-30 (April 23, 2014) increases the Health Savings Account (H.S.A.) maximum annual contribution for 2015 by $50 for individuals and $100 for families.
Wednesday, April 23, 2014
The HHS 2015 Notice of Benefit and Payment Parameters Final Rule (issued March 6, 2014) included numerous and varied provisions of interest, not only regarding the payment parameters of the premium stabilization programs, but also regarding: cost-sharing limits (for stand-alone dental as well as medical plans), changes to the 2015 annual open enrollment period dates, the 2015 actuarial value (AV) calculator, patient safety, the Small Business Health Options Program (SHOP), and several others.
Wednesday, March 12, 2014
On March 5, 2014, HHS and the IRS separately released four sets of guidance addressing several key provisions in the Affordable Care Act: Information Reporting, Two-Year Extension for Canceled Health Plans, and 2015 Notice of Benefit and Payment Parameters Final Rule.
Friday, March 7, 2014
(This is a more detailed version of an article that was originally posted February 24, 2014)
On February 20, 2014, the IRS, DOL and HHS jointly released two separate sets of regulations on the 90-day waiting period limit ...
Friday, February 28, 2014
On February 20, 2014, the IRS, DOL and HHS jointly released two sets of regulations on the 90-day waiting period limit under the Affordable Care Act (ACA). The final regulations generally finalize the...
Monday, February 24, 2014
Health insurance issuers who offer coverage to opposite-sex spouses must offer policyholders the option to offer coverage to same-sex spouses on the same terms and conditions.
Friday, March 21, 2014
Health plan sponsors must notify the Centers for Medicare and Medicaid Services (CMS) within 60 days from the beginning of the plan or policy year as to whether their group health plan prescription...
Monday, February 10, 2014
For small group plans that renewed early on December 1, 2013, the deadline for online notice to CMS regarding Medicare Part D creditable coverage and notices will be January 29, 2014, rather than March 1.
Tuesday, January 21, 2014