HRAs

Three Big Regulatory Changes Expected (Short-Term Medical, HRAs, Small Business Health Plans)

Posted January 18th, 2018 in Producers, Employers, Individuals
Three Big Regulatory Changes Expected (Short-Term Medical, HRAs, Small Business Health Plans)
Originally posted on October 13, 2017
 
President Donald Trump signed an executive order on October 12th instructing the Department of Labor (DOL), Department of Treasury (DOT), and Department of Health and Human Services (HHS), known as the tri-agencies, to review and potentially revise existing regulatory guidance. This includes:
 
Tags:
healthcare reform, President Trump, HRAs, short-term health plans, small group health plans, small businesses
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Cadillac Tax Repeal Back on the Table

Posted December 1st, 2017 in Producers, Employers
Tax 2018 on scale
Bipartisan efforts (yes, you read that right) are underway to repeal the Cadillac Tax imposed by the Affordable Care Act (ACA). A letter signed by 140 bipartisan members of the House of Representatives (House) urges a repeal this year. Efforts are being led by Congressman Joe Courtney (D-CT-2) and Mike Kelly (R-PA-3). 
 
Tags:
healthcare reform, Affordable Care Act, Cadillac Tax, FSAs, HSAs, HRAs, employer-sponsored
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2018 Inflation Adjustments for FSAs, HRAs and Commuter Plans

Posted October 23rd, 2017 in Producers, Employers, Individuals
2018 Inflation Adjustments for FSAs, HRAs and Commuter Plans

IRS Revenue Procedure 2017-58 was released last week. It includes a number of inflation adjustments to various benefits and other items for 2018 including the following for Consumer-Driven Accounts:

Tags:
Flexible Spending Accounts, Health Reimbursement Arrangements, Commuter, FSAs, HRAs, contribution limit
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Annual PCORI Fees Due July 31, 2017

Posted May 16th, 2017 in Producers, Employers
Annual PCORI Fees Due July 31, 2017
The fifth installment of the Patient-Centered Outcomes Research Institute (PCORI) fees will be due on July 31, 2017. As its name suggests, PCORI is a research institute, and it was created by the Affordable Care Act (ACA) to improve clinical effectiveness. It is partially funded by fees charged to health plans.
 
The following list contains information and some reminders about the upcoming PCORI fee that is due:
 
  • The fee is paid on the average number of covered lives for the plan year ending in 2016.
Tags:
healthcare reform, ACA, PCORI Fee, FSAs, HRAs
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New Guidance Impacts Group Health Plans, Preventive Care & HRAs

Posted December 30th, 2016 in Producers, Employers, Individuals
New Guidance Impacts Group Health Plans, Preventive Care & HRAs
Last week, the Departments of Labor, Health and Human Services, and the Treasury (collectively the “Departments”) issued new guidance as the Affordable Care Act (ACA) continues to evolve.
 
 The guidance has been summarized into three different categories shown below:
 
1. Group Health Plans
 
Tags:
Health care reform, ACA, Affordable Care Act, HRAs, individual health plans, small group health plans, DOL
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New HRA Can Reimburse Individual Health Insurance Premiums

Posted December 13th, 2016 in Producers, Employers
New HRA Can Reimburse Individual Health Insurance Premiums

Flexible Benefit Service LLC (Flex) is excited to tell you about the 21st Century Cures Act which was signed into law by President Obama on December 13, 2016. While the law primarily focuses on healthcare innovations and enhancing medical research, it also created a new type of Health Reimbursement Arrangement (HRA), referred to as a "Qualified Small Employer HRA."

Tags:
Health Reimbursement Arrangements, HRAs, President, premiums, small businesses, small employer
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Qualified Small Employer HRA

Posted December 5th, 2016 in Producers, Employers
Qualified Small Employer HRA
The U.S. House of Representatives recently passed a bill that is being referred to as the 21st Century Cures Act. The bill is expected to be taken up by the Senate this week, and the belief is the Senate will pass it as well. If passed by the Senate, it appears President Obama would sign the bill into law. 
 
Tags:
Health Reimbursement Arrangements, HRAs, Employer Mandate, Senate
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2017 Consumer-Driven Account Contribution & Reimbursement Limits

Posted November 1st, 2016 in Producers, Employers, Individuals
2017 CDA Contribution & Reimbursement Limits
The 2017 contribution and reimbursement limits for consumer-driven accounts (CDAs) are now available and have been provided below:
 
Health Care Flexible Spending Account (Health Care FSA)
 
The salary reduction limit is $2,600 ($50 increase from 2016) for the 2017 plan year. Employers may also contribute the greater of $500 or up to a dollar-for-dollar match of the employee’s salary reduction. The maximum carryover amount remains unchanged at $500.
 
Tags:
Consumer-Driven Accounts, CDAs, FSAs, HSAs, HRAs, Commuter
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The IRS Ruling that (almost) Killed the HRA Industry on Friday the 13th Nonetheless

Posted September 13th, 2016 in Producers, Employers
The IRS Ruling that (almost) Killed the HRA Industry
Today, September 13, 2016,  marks the three-year anniversary of the release date for IRS Notice 2013-54, which ironically occurred on Friday the 13th. A few years back, benefits industry leaders thought employers could be deterred from adopting Health Reimbursement Arrangements (HRAs) since much of the guidance made changes to the types of HRAs that could be offered. Below is a snapshot of the (now) permissible types of HRAs.
Tags:
IRS, ACA, healthcare reform, HRAs, Health Reimbursement Arrangements
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PCORI Fees Due for Health Plans Including some HRAs and FSAs

Posted June 23rd, 2016 in Producers, Employers
PCORI Fees Due for Health Plans Including some HRAs and FSAs

The fourth installment of the Patient-Centered Outcomes Research Institute (PCORI) fees will be due on July 31, 2016.

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.

The following list contains information and some reminders about the upcoming PCORI fee that is due:

Tags:
PCORI Fee, Flexible Spending Accounts, FSAs, Health Reimbursement Arrangements, HRAs, group health, healthcare reform
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