Health Reimbursement Arrangements
Minimum Essential Coverage and Minimum Value are two terms that are mistakenly considered the same by many people, but in fact, these terms have different definitions.
Minimum Essential Coverage is the type of coverage needed to satisfy the Individual Mandate requirements. The most common forms include the following health plans:
Can an individual be covered by more than one “Flex Plan” at the same time?
Yes, Health Care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs) can be combined in certain circumstances.
New guidance was released on September 13, 2013 that applies to Health Reimbursement Arrangements (HRAs) and other employer healthcare arrangements. Much of the guidance impacts employers that want to provide reimbursements to employees to help pay for individual health insurance policy premiums. Many employers have given this idea some consideration instead of offering a traditional group health plan to reduce their costs.
Recent guidance helped clarify some of the confusion about Patient-Centered Outcomes Research Institute (PCORI) fees applicable to Health Reimbursement
Arrangements (HRAs) and Flexible Spending Accounts (FSAs). It was originally thought that the fee would be applicable to all covered lives including spouses and dependents. That is no longer the case in some instances.
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