Megro, Author at Fairmount Benefits

Mid-Size Employers: Transition Relief and Community Rating

June 1, 2015

The employer shared responsibility (i.e., “play or pay”) requirements went into effect in 2015 for large employers only (those with 100 or more full-time or full-time-equivalent employees). Even though they generally will not be liable for penalties until 2016, mid-size employers (employers with 50 to 99 full-time or full-time-equivalent employees) will need to report on the coverage they offered for 2015, so long as they meet the maintenance requirements for transition relief.

Cost-Sharing Limits; Provider Discrimination FAQ Released

May 29, 2015

On May 26, 2015, federal agencies, including the Department of Labor (DOL), issued a short five-question FAQ on two PPACA-related issues: limitations on cost-sharing and provider discrimination.

The Different Types of Stop-Loss Explained | Pennsylvania Benefit Broker

May 28, 2015

By Michael Humphrey, MLHR, Sr. Employee Benefits Advisor at The Wilson Agency A UBA Partner Firm With the rising cost of health insurance and the need to provide coverage to employees, we have noticed many employers taking advantage of becoming self-insured. While being self-insured isn’t for everyone, there are definite advantages, such as the possibility … Continued

Stop-loss Contract Periods Explained

May 28, 2015

This week we will go over another important aspect of stop-loss: contract periods. Stop-loss contract periods are perhaps the most complicated aspect of understanding how stop-loss insurance works.

Think Before You Type

May 27, 2015

It used to be in the workplace that if someone typed something they shouldn’t have, such as in a paper or email, then they could often try and retract or delete it or make the recipient swear that he or she wouldn’t share it.

IRS Issues Additional FAQs and Hosts Webinar to Assist with Reporting Requirements under PPACA’s Play or Pay

May 27, 2015

In order for the Internal Revenue Service (IRS) to verify that (1) individuals have the required minimum essential coverage, (2) individuals who request premium tax credits are entitled to them, and (3) applicable large employers (ALEs) are meeting the…

Question of the Month: How is PPACA’s “IRS Form W-2 safe harbor” regarding affordability calculated? | Conshohocken Employee Benefits

May 26, 2015

By Danielle Capilla, Chief Compliance Officer at United Benefit Advisors Answer: Under PPACA, coverage is considered affordable if it costs less than 9.5 percent of an employee’s household income. Because employers are often unaware of an employee’s household income, there are three safe harbors that an employer can use to determine affordability. One is the … Continued

The Different Types of Stop-Loss Explained

May 26, 2015

With the rising cost of health insurance and the need to provide coverage to employees, we have noticed many employers taking advantage of becoming self-insured. While being self-insured isn’t for everyone, there are definite advantages, such as the possibility of saving money – especially if you have a healthy staff.

The Key to Reducing Health Care Costs – Have We Found It? | Pennsylvania Benefit Broker

May 21, 2015

By Elizabeth Kay, Compliance & Retention Analyst AEIS Advisors A UBA Partner Firm Self-funding is a very hot topic these days for a number of reasons. For small group employers offering a self-funded plan this means they can charge a composite premium rate based on the employee population versus the community rates that are based … Continued

Preventive Services Requirement FAQ