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Posts Tagged ‘2013’

Employee Benefit Adviser Slideshow Gallery

Friday, December 20th, 2013

Please go to this link to view a slide show that will examine four other changes to ACA that experts consider Likely-to-possible.

 

<CLICK HERE>

10 years on, tort reform sees suits, payouts drop

Tuesday, September 3rd, 2013

Merced Sun-Star reports:

“Ten years after the Texas Legislature capped damages in the state’s medical malpractice lawsuits, the number of suits and the amounts paid out have fallen sharply.

The Austin American Statesman reported (http://bit.ly/15rYYMk ) Sunday that state Department of Insurance data shows medical malpractice claims, including lawsuits, resolved in a year fell by nearly two-thirds between 2003 and 2011 to 450. The average payout declined 22 percent to about $199,000.

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Higher Medicaid reimbursement for state’s primary care docs

Friday, July 12th, 2013

Crains reports:

“Doctors providing primary care in Illinois can get higher Medicaid reimbursement rates through the end of 2014.

Illinois officials are reminding doctors to sign up online for the higher rates, which are expected to increase by an average of 93 percent. If doctors sign up by June 30 they can get reimbursed at the higher rate retroactively to the beginning of this year.

The temporary raise should help increase doctors’ participation in Medicaid, said Julie Hamos, director of the Illinois Department of Healthcare and Family Services.

That’s important because thousands of uninsured Illinois residents will be newly eligible for Medicaid in 2014.

Hamos warned in April that there won’t be enough doctors to treat the expected surge of new Medicaid patients next year unless more physicians participate in the program.

The pay increase for primary care was authorized by the Affordable Care Act.”

Nondiscriminatory PPACA provisions could cost employers

Monday, May 20th, 2013

Benefits Pro reports:

“Health care exchanges are getting all of the attention, but employers need to take a closer look at their benefits packages because the nondiscriminatory provision of PPACA has the potential to cost them a lot of money.
So says Jay Starkman, the CEO of Engage PEO, a human resources outsourcing organization.

Under the provision, employers can no longer give preferential treatment when it comes to benefit plans. Everyone must have the same benefit options. The new provision is set to go into effect in January 2014, though this could be delayed as more guidance is scheduled to come down.

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Insurers set to submit plans for Illinois exchange

Wednesday, April 10th, 2013

The Chicago Tribune Business reports:

Health insurance companies hoping to compete for a share of an estimated half-million new customers in Illinois can begin submitting health plans Monday to the state for inclusion on the Illinois health insurance exchange.

Operated in a partnership between the state and federal governments, the Illinois exchange is an online marketplace where individuals and small businesses can begin buying health insurance starting Oct. 1 for coverage that begins in 2014.

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2013 HCR Employer Requirements

Wednesday, December 26th, 2012

2013 HCR Employer Requirements

1)      Medicare Part A Tax

This tax affecting high income tax payers was created to help fund the Medicare program. An additional 0.9% tax will be applied to wages, other compensation, and self-employment income when it exceeds the following threshold based on the following taxpayer filing status:

a) A joint return of $250,000 or more

b) $125,000 in the case of a married individual filing a separate return

c) $200,000 for any other case

According to the IRS, the mandate requires an employer to withhold Additional Medicare Tax on wages it pays to an employee in excess of $200,000 in a calendar year, beginning January 1, 2013.

As an employer, it’s important to consult with your tax or legal advisors. For questions and answers about this requirement, please go to http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Questions-and-Answers-for-the-Additional-Medicare-Tax.

2)      W-2 Reporting Employer Provided Health Coverage

Under the new law, employers are required to report the cost of employer-sponsored health benefits as a new, separate entry on employee W-2 forms on an annual basis.

·         Employers who file 250 or more W-2 forms must comply with the provision for tax year 2012 W-2 forms, which should be filed in January 2013.

·         Employers who file fewer than 250 W-2 forms will not be required to report the cost of health coverage until further guidance is issued by the IRS.

This W-2 reporting is for informational purposes only- to show employees the value of their health care benefits so they can be more informed consumers. According to the IRS, it does not cause excludable employer-provided health care coverage to become taxable.

Humana strongly encourages you to consult with your legal or tax advisors on how to fulfill this reporting requirement.

Humana’s e-Billing tool is also available at Humana.com to get billed premium reports to help you with this requirement. Go to http://www.humana.com/employersto sign up or register then click on “Billing & Enrollment” and click on “eBilling”.

For questions and answers about this requirement, please go to http://www.irs.gov/uac/Form-W-2-Reporting-of-Employer-Sponsored-Health-Coverage.”

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