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Small Businesses No Longer Allowed to Reimburse

Small Businesses No Longer Allowed to Reimburse

As a small to medium sized group benefits broker we see a lot of difference cost savings techniques in benefits packages.  This is specifically true in the under 50 employee market. Our account and sales team analyze hundreds of plans a year and have pinpointed that an employer who isn’t overly thrilled with the cost of employer-sponsored health coverage will drill down in unique approaches to say the “offer” health...

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Supreme Court Allows Nationwide Health Care Subsidies

Supreme Court Allows Nationwide Health Care Subsidies

The Supreme Court ruled on Thursday that President Obama’s health care law may provide nationwide tax subsidies to help poor and middle-class people buy health insurance. The margin of a 6-3 vote, the Supreme Court upheld a key provision of the Affordable Care Act ruling that subsidies should be available in states that have set up their own health insurance exchanges and in states where consumers rely on the Federally Facilitated...

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HHS issues final rule closing ACA minimum value health plan loophole

HHS issues final rule closing ACA minimum value health plan loophole

This is a great article that all small businesses need to read. HHS issues final rule closing ACA minimum value health plan loophole | Employee Benefit News  The Department of Health and Human Services says once and for all it will not qualify employer-sponsored health plans that fail to cover inpatient hospitalization as meeting the minimum value health plan standard under the Affordable Care Act. In a final rule published today in the...

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Employer’s Paying for Individual Insurance

Employer’s Paying for Individual Insurance

Employers ditching their group policies and forcing employees to shop the state-based and federally facilitated exchanges, has been a big concern with the Obamacare rollout, especially in low-wage jobs where people are most likely to be eligible for subsidies. And, indeed, it has been happening. Some employers have even paid employees to shop for health insurance on their own. Prohibited The IRS prohibits employers from giving (or...

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CMS Announced Special Enrollment Period for Tax Season

CMS Announced Special Enrollment Period for Tax Season

On February 20, the Centers for Medicare & Medicaid Services (CMS) announced a Special Enrollment Period (SEP) for individuals and families who did not have health insurance coverage in 2014 and are subject to the fee or “shared responsibility payment” when they file their 2014 taxes in states which use the Federally-facilitated Marketplaces (FFM). This Special Enrollment Period will allow those individuals and families who were...

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IRS Issues Guidance on Cadillac Tax

IRS Issues Guidance on Cadillac Tax

The IRS issued Notice 2015-16 which is intended to initiate and inform the process of developing regulatory guidance regarding the excise tax on high cost employer-sponsored health coverage under § 4980I of the Internal Revenue Code (Code). Section 4980I, which was added to the Code by the Affordable Care Act, applies to taxable years beginning after December 31, 2017. Under this provision, if the aggregate cost of “applicable...

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