Benefits Buzz
The Employer Mandate requires applicable large employers (ALEs), which are defined as employers with 50 or more full-time equivalent employees in the preceding year to offer health insurance to full-time employees. Generally, at least 95% of full-time employees must be offered health insurance.
For employees, achieving financial wellness is a journey…and the workplace can be the starting point
Each year, the Internal Revenue Service (IRS) makes inflation adjustments to Health Savings Accounts (HSAs) and qualified high deductible health plans (HDHPs). On May 24, 2019, the IRS released Rev. Proc. 2019-25 which included details on the inflation adjustments for 2020.
The table below sumarizes the the HDHP requirements for 2020.
Offer an Affordable Group Medical Products to an Untapped Market
Everyone wants health insurance, but not everyone can afford it or they might not have access to quality coverage. Some employers struggle with the offer requirements related to the Employer Mandate, or they have employees--such as part-time or 1099 workers--who are not eligible for traditional benefits.
New Jersey has become the first state to require certain employers to offer qualified transportation benefits (i.e. Commuter Plans) to employees. Some metropolitan areas including New York City, San Francisco, Seattle and Washington D.C. have passed similar laws that require certain employers to make Commuter Plans available to their employees, but no state has mandated this benefit until now.
Last December, a federal judge in Texas District Court ruled that the Affordable Care Act (ACA) was unconstitutional. The decision came in response to a lawsuit filed by 20 Republican state attorneys general. These attorneys general argued that the ACA was unconstitutional because there is no longer a penalty associated with the Individual Mandate, and the judge agreed.
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