As of January 1, “Play or Pay” penalties are in effect. This means if one of your full-time employees qualifies for premium tax credits for Exchange coverage, it may trigger your employer-shared responsibility penalties under Code § 4980H. Employers that have employees enrolled in Exchange coverage may want to become familiar with the process although … Continued
The Expatriate Health Coverage Clarification Act provides permanent ACA relief for some expatriate plans, including self-insured programs. Qualifying plans are exempt from the following mandates and fees: Annual and lifetime limits Required dependent coverage to age 26 Preventive health services Summary of Benefits and Coverage (SBC) Essential health benefit requirement Prohibitions on pre-existing conditions, excessive … Continued
PITTSBURGH, JANUARY 6, 2015 – Melissa Hoffman, senior consultant in the Personal Lines department at Henderson Brothers, Inc., recently was awarded the designation of Certified Professional Insurance Agent (CPIA), a professional designation conferred by the American Insurance Marketing and Sales Society (the AIMS Society). Hoffman successfully completed three Insurance Success Seminars. The CPIA designation stands … Continued
PITTSBURGH – January 6, 2015 – Andrew Siess was hired as a consultant at Henderson Brothers Inc, working in the Personal Lines department. Siess earned his Bachelor of Science degree from Slippery Rock University, with a double major in Finance and Economics. He was a member of the University’s hockey and lacrosse teams and … Continued
PITTSBURGH, JANUARY 6, 2015 – Sarah Perryman was hired as a consultative associate at Henderson Brothers Inc, working in the Consultative department. Prior to joining Henderson Brothers, Perryman served a series of internships in copywriting, news writing and public relations. Perryman earned her Bachelor of Arts from Clemson University, with a double major in … Continued
Employers with self-sponsored health plans can be penalized beginning January 1, 2015 for failing to offer Minimum Value (MV) if they do not provide ample coverage for in-patient hospitalizations or physician’s services to employees, says the IRS. The IRS will propose regulations effectively closing the legal loophole that allows employers with Non-Hospital/Non-Physician Services plan to … Continued
Four conditions must be met in order for Employee Assistance Programs (EAPs) to be categorized as excepted benefits for plan years beginning on or after January 1, 2015, according to final regulations issued by the IRS, DOL, and HHS. Plan sponsors must understand the criteria since EAPs classified as “non-excepted” coverage are subject to the … Continued
Guidance for non-grandfathered group health plans using reference prices to determine maximum out-of-pocket expenses for various provider networks has been issued in a FAQ prepared jointly by the Employee Benefits Security Administration, Internal Revenue Service, and Department of Health and Human Services. The FAQs were released to assist group health plans to comply with … Continued
Despite rumors that the Centers for Medicare and Medicaid Services (CMS) would either accommodate or exempt self-funded plan sponsors from applying for a Health Plan Identifier (HPID), no official statement has been made and specified health plans should obtain their HPID by November 5, 2014 under a final rule released by the Department of Health … Continued
All Part D Eligible Individuals working for the company must be notified by October 15 as to whether the prescription drug coverage the company offers to employees and former employees (including spouses and dependents) qualifies as creditable. Plan sponsors should also annually disclose this information to the Centers for Medicare and Medicaid Services (CMS). Who … Continued
