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2017 HSA Limits Released by IRS

2017 HSA Limits Released by IRS

We have good news and bad news for the changes to H.S.A contributions for 2017. So here is the good news… You won’t have to remember much! The bad news, the contributions didn’t go up very much at all so you can’t add more to your yearly contribution in 2016. The Internal Revenue Service (IRS) issued its new guidelines for contributions and out-of-pocket expenses for Health Savings Accounts (H.S.A’s) that are tied to a high-deductible plan...

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What Exactly Is a PBM?

What Exactly Is a PBM?

If your employer offers prescription medication benefits, you may think that you are getting your prescriptions directly through an insurance plan. The fact is that most health plans contract with a pharmacy benefits manager (PBM) to administer prescription drug benefits. So, what exactly is a PBM and what does it do for you? Simply stated, a PBM is a company that administers, or handles, the prescription drug benefit component of your...

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What You Need To Know: 1095 Filing

What You Need To Know: 1095 Filing

Another confusing part of Healthcare Reform (PPACA) is the 1095 filing that is taking place this year. There aren’t many things to do from an employer’s perspective but there are a few points that can help calm the frantic HR or CFO and your employees on the new IRS tax forms required for health insurance.  The Affordable Care Act (ACA) requires that health insurance carriers and some employers to provide new health insurance...

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5 reasons United Healthcare wants out of PPACA

5 reasons United Healthcare wants out of PPACA

I came across this great industry article in my inbox this morning and just had to share. Alson Martin does a great job of reviewing the latest news that United Healthcare has started to put it out there they would be leaving the health insurance marketplace due to the shortfalls in earnings on the PPACA exchanges. Take a look at the article and come to your own conclusions: On November 19, 2015, UnitedHealth, in a conference call for...

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HealthCare.gov extends Jan. 1 coverage deadline 2 days

HealthCare.gov extends Jan. 1 coverage deadline 2 days

Managers of HealthCare.gov have responded to complaints about website glitches and outages, and overloaded call centers, by pushing the application deadline for coverage that starts Jan. 1 to 11:59 p.m. Pacific Time Friday. The current Patient Protection and Affordable Care Act (PPACA) open enrollment period started Nov. 15 and is set to end Jan. 31. The original deadline for Jan. 1 start coverage was supposed to be at midnight Pacific...

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PPO’s are a dying breed…

PPO’s are a dying breed…

I came upon the latest batch of articles from Benefits Pro and immediately thought of our readership and the need to get this out. There has been a lot of “movement” in the health insurance market especially in the narrowing of network access. This is especially true as insurance companies try to stay not only relevant but cost effective in the Health Care Reform era. With the narrowing of doctor networks we are seeing a...

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