As many analysts projected, premiums continue to rise, forcing many employers to manage this expanding price tag by shifting costs to their employees. As UBA reported in its breaking news, this cost shifting took the form of higher deductibles, out-of-pocket maximums, and copays for both singles and families. According to the 2015 UBA Health Plan … Continued
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? The 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 … Continued
With the New Year comes many traditions: singing Auld Lang Syne, the midnight kiss, and resolutions. In the HR world, the New Year means compliance requirements and constant deadlines. So at ThinkHR we wanted to help you bring in 2016 with an articulate chart providing important summaries of federal posting rules. We advise that all … Continued
By Danielle Capilla, Chief Compliance Officer at United Benefit Advisors UBA has created a template letter that employers may use to draft written communication to employees regarding what to expect in relation to IRS Forms 1095-B and 1095-C, and what employees should do with a form or forms they receive. The template is meant to … Continued
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
By Danielle Capilla, Chief Compliance Officer at United Benefit Advisors In the Benefit and Payment Parameters for 2016 Final Rule issued in February 2015, federal agencies included a clarification that annual cost-sharing limitations for self-only coverage apply to all individuals, regardless of whether the individual is covered by a self-only plan or is covered by … Continued
By Bill Olson, Chief Marketing Officer at United Benefit Advisors Employer health savings account (HSA) funding strategies have changed in recent years in response to the Patient Protection and Affordable Care Act (PPACA) and its impact on employer-sponsored health insurance plans. Employers are contributing less, on average, to HSAs and the increase in popularity of … Continued
By Linda Rowings, Chief Compliance Officer at United Benefit Advisors On February 18, 2015, the Internal Revenue Service (IRS) issued Notice 2015-17. This Notice addresses employer payment or reimbursement of individual premiums in light of the requirements of the Patient Protection and Affordable Care Act (PPACA). For many years, employers were permitted to reimburse premiums … 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 Bill Olson, Chief Marketing Officer at United Benefit Advisors On December 10, 2014 the IRS released the optional standard mileage rates for 2015. Beginning on January 1, 2015, the standard rates for the use of a car, van, pickup or panel truck are: 57.5 cents per mile for business miles, up from 56 cents … Continued
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