Top 10 Questions about the Minimum Value Penalty

An employer that offers minimum essential coverage to substantially all of its full-time employees may still owe penalties if the coverage it offers is inadequate because it is not “affordable” and/or it does not provide “minimum value.” It also may owe penalties on the employees it does not offer coverage to who receive a premium subsidy.

IRS Updates FAQs Related to 6055/6056 Reporting

The long-standing IRS FAQs related to reporting under sections 6055 and 6056 on requirements provided by the Patient Protection and Affordable Care Act (ACA) have been updated to reflect new information.

ACA Penalties and Taxes and Fees–Oh My!

Employers breathed a sign of relief when the looming Cadillac Tax was delayed. But are you subject to other fees and penalties under the ACA? ACA has introduced a multitude of new fees that employers must pay, in addition to penalties for non-compliance with employer shared responsibility rules. These dollar amounts change annually, as does the percentage amount used to calculate affordability in relation to the ACA. UBA’s new ACA Advisor, “Patient Protection and Affordable Care Act Fees, Penalties” gives a quick reference summary of the key 2015 and 2016 fees and penalties associated with the ACA.

Being Hyper Aware of Hypertension

As wellness programs continue to flourish particularly among large employers, a discovery is being made about one of the most important health conditions — hypertension. Hypertension (also known as high blood pressure) is a medical issue where the pressure of the blood in a person’s cardiovascular system is constantly elevated. According to the Mayo Clinic, a person can have high blood pressure for years without any symptoms. Yet even without symptoms, damage to arteries, blood vessels, and even the heart continues until serious health issues, including a heart attack and stroke, happen.

Should Employers Opt Out of Their Opt-Out Program?

According to the 2015 UBA Health Plan Survey, fewer employers are offering bonuses to waive coverage, but for those that do, the bonus amount is on the rise. Only 2.9% of employers offered a bonus to employees to waive medical coverage in 2015, an 17.1…

The Health Plan Becomes United Benefit Advisors’ Latest Strategic Partner

United Benefit Advisors (UBA), the nation’s leading independent employee benefits advisory organization, is pleased to welcome The Health Plan as a new Strategic Partner. They join an already elite group of service providers that offer vetted and approved products to UBA Partner Firms.

How to Benchmark Your Health Plan

Are you benchmarking your health plan correctly? If you are using data from your carrier or a small study of only large employers, chances are, you are not effectively analyzing your rates. To truly benchmark your plan, you need to compare your plan to…

 

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