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While discussion regarding a replacement bill for the Affordable Care Act (ACA) continues to move forward, applicable employers are still under obligation to meet the ACA’s reporting requirements for 2016. Employers that will be filing electronically with the IRS have an upcoming deadline to pay attention to. Below is a brief overview: Applicable large employers [...]
Continue Reading →On December 16, 2016, the Department of Health and Human Services (HHS) released its final Notice of Benefit and Payment Parameters for 2018. This rule describes benefit and payment parameters under the Affordable Care Act (ACA), applicable for the 2018 benefit year. This includes details regarding the annual limitations on cost-sharing. The ACA requires the [...]
Continue Reading →Will your company be including a Flexible Spending Account (FSA) plan within its employee benefits program for 2017? If so, it’s important to note the the IRS has increased the annual contribution limit. The IRS has set the FSA dollar limit on employee salary reduction contributions to $2,600 for taxable years beginning in 2017. Steps [...]
Continue Reading →In preparation for the Medicare fall open enrollment period, employers that sponsor group health plans that include prescription drug coverage are required to notify all Medicare-eligible individuals whether such coverage is creditable. This year, plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals by October 14, 2016. The creditable coverage disclosure notice must [...]
Continue Reading →The Internal Revenue Service (IRS) has released 2016 draft forms regarding the employer reporting requirements under the Affordable Care Act. While instructions for the 2016 forms have not yet been released (Update: The IRS has released Draft Instructions for the forms as of 8/11/2016), it is advisable for employers to become familiar with the planned [...]
Continue Reading →Under the Affordable Care Act, applicable employers are required to comply with the annual Employer Reporting Requirements. For many employers, this means producing and distributing Form 1095-C documents to employees. But in addition, it also means filing those same forms, along with a Form 1094-C document, with the IRS. For employers that were filing with [...]
Continue Reading →The latest animated video in the “Know Your Benefits” series is now available for download and distribution. Entitled “HSA Eligible Expenses“, this video highlights some of the acceptable ways that employees may utilize their Health Savings Account (HSA) to purchase services and products throughout the year. All clients of CBG Benefits may now log-in to [...]
Continue Reading →On April 6th, 2016, the Departments of Labor (DOL) and Health and Human Services (HHS) issued the final revised template and related materials for the summary of benefits and coverage (SBC) document. Please click here to view a PDF copy of the updated template. Here is a brief overview of what you may need to [...]
Continue Reading →As a reminder, an important deadline regarding the Affordable Care Act (ACA) is right around the corner. Employers that are subject to the ACA’s information reporting requirements must furnish the first statements for the 2015 calendar year to employees on or before March 31, 2016. For many employers, this primarily means distributing the Form 1095-C [...]
Continue Reading →An updated model notice for employers to provide information on eligibility for premium assistance under Medicaid or the Children’s Health Insurance Program (CHIP) is now available for download. The updated model notice is current as of January 31, 2016. It includes details on how employees can contact their state for additional information regarding these programs [...]
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