Are you ready for Red Ribbon Week® (October 23-31)? The Red Ribbon Campaign® is the oldest and largest drug prevention program in the Nation and a way for people and communities take a visible stand against drugs. This year’s theme, “Respect Yourself. Be Drug Free.™”, created by a middle school student in Ohio, is a … Continued
Beginning in 2015, under the Patient Protection and Affordable Care Act (ACA), large employers must offer affordable, minimum value coverage to their full-time employees or potentially pay a penalty.
Posted by: Bill Olson As a result of the Patient Protection and Affordable Care Act (ACA) triggering cost increases for fully insured employer-sponsored health insurance plans, more employers are moving to a self-funded model for pharmacy plans, particularly among large employers (1,000+ employees), according to data released from the 2014 United Benefit Advisors (UBA) Health … Continued
The Affordable Care Act (ACA) implemented section 6055 of the Internal Revenue Code, which requires IRS reporting from any entity that provides “minimum essential coverage” (MEC) to individuals. Employers who are applicable large employers (ALEs) have related reporting obligations under section 6056.
Advancements in science and technology can be absolutely amazing. The types of treatments that are available now are light years ahead of where we were even 10 years ago. For example, there are some new anti-viral drugs that have become available. One …
It sure is hot this summer. How hot is it? It’s so hot that… well, let’s just say that it’s so hot people need to remember to stay hydrated. And that’s not just for people who exercise!
By Bill Olson, Chief Marketing Officer at United Benefit Advisors As the saying goes, an ounce of prevention is worth a pound of cure, and that’s definitely the case when it comes to a health plan audit by the U.S. Department of Labor (DOL). And prevention is certainly warranted, according to Jeff Hadden, Partner at … Continued
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
By Linda Rowings, Chief Compliance Officer at United Benefit Advisors Beginning in 2018, plans that provide coverage that exceeds a threshold will owe an excise tax that is frequently referred to as the “Cadillac tax.” The threshold generally will be $10,200 for single benefits and $27,500 for benefits provided to an employee, retiree, or member … Continued
By Linda Rowings Many employee benefit limits are automatically adjusted each year for inflation (this is often referred to as an “indexed” limit). The Internal Revenue Service and the Social Security Administration have released a number of indexed figures for 2015. Limits of particular interest to employers include the following. For health and Section 125 … Continued
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