Benefits Buzz
Posted June 5th, 2015 in Producers, Employers, Individuals
The Supreme Court is expected to rule on the King vs. Burwell case at the end of this month. This is the court case that is challenging whether or not the federal government can provide subsidies to Exchange enrollees in the 37 states in which it operates. Media coverage of the case implies that the judges are evenly split and a ruling could go either way.
Posted June 1st, 2015 in Producers, Employers, Individuals
The Affordable Care Act (ACA) has created a great deal of change in the healthcare market. Individuals, employers, insurers, doctors, hospitals, pharmaceutical companies and many others have all experienced change in one way, shape or form. Next on the list is the restaurant industry, and that’s because the food you eat can have an impact on your overall health.
Posted May 22nd, 2015 in Producers, Employers, Individuals
The Affordable Care Act (ACA) established a maximum out-of-pocket limitation for single and family coverage. The limit established for 2016 is $6,850 for single coverage and $13,700 for family coverage. The Department of Health and Human Services (HHS) issued an FAQ document on May 8, 2015 which indicates a health plan that covers a family cannot impose an out-of-pocket maximum of more than $6,850 for any single family member covered under the plan.
The third installment of the Patient-Centered Outcomes Research Institute (PCORI) fees will be due on July 31, 2015. As its name suggests, PCORI is a research institute, and it was created by the Affordable Care Act (ACA) as a way to improve clinical effectiveness. It is partially funded by fees charged to health plans. Here is information and some reminders about the upcoming fee that is due.
- The fee is paid on the average number of covered lives for the plan year ending in 2014.
Posted May 8th, 2015 in Producers, Employers, Individuals
On May 4, 2015, the Internal Revenue Service (IRS) has released Revenue Procedure 2015-30 which details the inflation-adjusted amounts that impact qualified high deductible health plans and Health Savings Accounts (HSAs) for the 2016 calendar year, as outlined below:
These limits are updated annually and reflect cost-of-living adjustments.
Posted May 1st, 2015 in Producers, Employers, Individuals
There have been several attempts to dismantle the Affordable Care Act (ACA) and none have prevailed up to this point. The House of Representatives voted nearly 40 different times to repeal the law with no avail. The constitutionality of the Individual Mandate was challenged and ultimately upheld by the Supreme Court. Now we are awaiting a decision on whether the federal government can legally provide subsidies to Exchange applicants.
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