The government was busy recently, issuing the massive Benefit Payment and Parameters rule in addition to numerous other updates. Our recent blog reviews the updates to the Benefit Payment and Parameters rule; for more detailed information as it relates to standardized plans, small employer definition, reinsurance fees, rating areas, guaranteed availability, exemptions, and more, download … Continued
As we mentioned in the first edition of this mini-series on the Federal Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), “marketplaces” or “exchanges” created by the Patient Protection and Affordable Care Act (ACA) did not make COBRA obsolete. Rather, COBRA is still going strong. And while the general rule of COBRA is not necessarily … Continued
The terms “wellness” and “well-being” are often used interchangeably; however, they mean very different things when applied to workplace health promotion. Traditionally speaking, employee “wellness” programs have primarily focused on just physical health. Whereas employee “well-being” programs emphasize emotional, mental, social, and financial health in addition to physical health. With the addition of millennials in … Continued
According to the IRS, identity theft has been the number one consumer complaint to the Federal Trade Commission for 15 consecutive years. The Bureau of Justice Statistics estimates that 17.6 million people were victims of identity theft in 2014. Organizations at every level are trying to protect employee and customer personal information from computer hacking … Continued
No two Department of Labor (DOL) audits are the same, yet there are typical questions asked and documents requested. See our recent blog on the Seven Common Mistakes That Could Trigger a DOL Audit. If you are audited, it’s recommended that questions received be sorted and color-coded based on what the question references (for example, … Continued
Not many things incite more fear than receiving a notice that you’re about to have an audit, especially from the Department of Labor (DOL). The DOL is a cabinet-level department of the U.S. federal government responsible for occupational safety, wage and hour standards, unemployment insurance benefits, re-employment services, and some economic statistics. It is headed … Continued
Health insurance premium renewal rates increased an average of 6.2 percent for all plans in 2015, up from the previous year’s 5.6 percent increase, according to UBA’s Health Plan Survey. Small businesses with fewer than 25 employees, which account for five million U.S. employers, were hit the hardest—see our breaking news with the details. When … Continued
The 2015 UBA Health Plan Survey data reveals who will not escape the 40% excise tax to take effect in 2020. The “Cadillac” tax, now called the excise tax, was originally set to start in 2018, but legislation passed the end of 2015 delayed the start date by two years. The Patient Protection and Affordable … Continued
Historically, companies have struggled with the best way to package and deliver benefits to attract talent and retain staff. Today, companies understand that they need to leverage a variety of solutions to provide meaningful healthcare coverage, promote wellbeing and mitigate cost. UBA Partners offer innovative product and service solutions to identify medical spend waste and … Continued
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. Final instructions for both the 1094-B and 1095-B and the 1094-C and 1095-C were released in September 2015, as were the final forms for … Continued
Two Radnor Corporate Center
Suite 110
Radnor, PA 19087
610-567-0175
800-527-3615
