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Marriage ruling streamlines benefits administration

Marriage ruling streamlines benefits administration

By Nick Otto, Employee Benefit News   Friday’s landmark ruling on gay marriage could pose both challenges and benefits to employers, as the U.S. Supreme Court’s decision irons out the patchwork system of laws across the country, but brings up new questions on current domestic partnership policies. In a 5-4 ruling, the court determined that states must issue marriage certificates to same-sex couples, as well as recognize same-sex...

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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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HSA Limits Announced for 2016

HSA Limits Announced for 2016

  IRS has just issued Revenue Procedure 2015-30, which provides the 2016 cost-of-living contribution and coverage adjustments for HSAs, as required under Code Section 223(g).  The family annual contribution limits and the annual out-of-pocket limits have all been increased for 2016. Annual HSA Contribution Amounts Amount 2015 2016 Individual $3,350 $3,350 Family $6,650 $6,750 Annual Maximum Out-Of-Pocket Limits for HDHP Amount 2015...

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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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Worksite vs. Voluntary Benefits

Worksite vs. Voluntary Benefits

The terms Worksite and Voluntary benefits in the insurance industry can and have been widely misused for some time.  Employers are lost over the difference between the two. Do a Google search for these names and the insurance marketplace will even do a poor job of deciphering the differences! Worksite premiums have increased from $2 billion worldwide in 1997 to $5.4 billion in 2009.  Shifting costs from an employer to employee, Healthcare...

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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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Three Health Benefit Cost Drivers Central to Battling Rate Increases

Three Health Benefit Cost Drivers Central to Battling Rate Increases

Most employers are encouraged to “deal with” rate increases, not solve them. Hoping to halt spiraling costs, they search fruitlessly for some magical carrier who somehow has an inside line on “the best discounts” in the medical provider network. In the end, most find that it’s the same old cost shifting shuffle: the bulk of the so-called lower rate increase is passed along to employees through higher deductibles, higher co-pays, higher...

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