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Posts Tagged ‘requirements’
Wednesday, July 24th, 2019
JD Supra reports:
“On June 13, 2019, the Department of Labor, the Department of Health and Human Services, and the Department of Treasury (the “Departments”), published final regulations which significantly broaden the types of health plans that may be integrated with a health reimbursement arrangement (“HRA”). More specifically, beginning January 2020, the finalized rules allow HRAs to be integrated with certain qualifying individual health plan coverage and/or Medicare. The final rules reverse current guidance which requires HRAs to be integrated with only qualifying group health plan coverage. Practically speaking, this means that employers, beginning in 2020, will be allowed to subsidize employee premiums in the individual health insurance market and/or Medicare using pre-tax dollars, provided certain conditions are met. The final rules also allow certain HRAs to reimburse participants for certain premiums paid for excepted benefits. To achieve these results, the final rules create two new types of HRAs.
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Tags: Glenview, GOP, Health and Human Services, health insurance coverage, health insurance premiums, Lake in the Hills, Marketplace, medical expenses, private exchange, requirements
Posted in Employer benefits | Comments Off on New Final Regulations Expand the Availability of HRAs
Monday, May 20th, 2019
KHN reports:
“Sheri Lewis, 59, of Seattle, needed a hip transplant. Bradley Fuller, 63, of nearby Kirkland, needed chemotherapy and radiation when the pain in his jaw turned out to be throat cancer. And Kim Bruzas, 55, of Waitsburg, hundreds of miles away, needed emergency care to stop sudden —and severe — rectal bleeding.
Each of these Washington state residents required medical treatment during the past few years, and each thought they had purchased health insurance through an online site.
(more…)
Tags: Affordable Care Act, Hampshire, health insurance, health insurance reform, Individual Mandate, insurance plan, Insurance Reform, Oakbrook Terrace, Oakwood Hills, Obama care, ObamaCare, Obamacare regulation, online degrees, open enrollment, Opt-Out, Oswego, Penalty, requirements
Posted in Family Health Insurance, Health Insurance News | Comments Off on ‘Sham’ Sharing Ministries Test Faith Of Patients And Insurance Regulators
Tuesday, June 19th, 2018
AP News reports:
“The Trump administration’s new health insurance option offers lower premiums for small businesses and self-employed people, but the policies are likely to cover fewer benefits.
Another caveat: if healthy people flock to the new plans as expected, premiums will rise for those who need comprehensive coverage.
(more…)
Tags: Affordable Care Act, association health plan, Donald Trump, Downers Grove, Dundee, DuPage, East Dundee, Elburn, Elgin, Employers, Individuals, insurance, requirements, small businesses, Trump
Posted in Affordable Care Act, Health Insurance News | Comments Off on Lower costs, fewer benefits in new health insurance option
Tuesday, May 8th, 2018
KFF reports:
“A new Kaiser Family Foundation analysis of short-term, limited duration health plans for sale through two major national online brokers finds big gaps in the benefits they offer.
Through an executive order and proposed new regulations, the Trump Administration is seeking to encourage broader use of short-term, limited duration health plans as a cheaper alternative to individual market plans that comply with the Affordable Care Act’s requirements. Repeal of the individual mandate penalty – which currently applies to people buying short-term plans – is also expected to boost enrollment starting next year.
(more…)
Tags: Affordable Care Act, Albany Park, Alden, Algonquin, Andersonville, Highland Park, Hillside, Hinsdale, individual, Individuals, insurance, premiums, requirements, temporary, the affordable care act
Posted in Individual Health Insurance, Short Term Insurance | Comments Off on Most Short-Term Health Plans Don’t Cover Drug Treatment or Prescription Drugs, and None Cover Maternity Care
Friday, February 2nd, 2018
The Tax Advisor reports:
“The IRS recently issued Notice 2017-67 to provide guidance on “qualified small employer health reimbursement arrangements” (qualified small employer HRAs) under Sec. 9831(d). Qualified small employer HRAs enable an eligible employer to reimburse employees for medical expenses, such as health insurance premiums, as defined under Sec. 213(d). Qualified small employer HRAs are solely employer-funded; employees cannot contribute to them. Payments from a qualified small employer HRA to an employee are not includible in the employee’s income, as long as the employee has obtained qualifying health insurance. An employer can establish a qualified small employer HRA for tax years beginning after Dec. 31, 2016. The guidance within Notice 2017-67 is effective for arrangement plan years beginning on or after Nov. 20, 2017.
(more…)
Tags: ACA requirements, Affordable Care Act, group health plans, health insurance coverage, health savings account, requirements, Skokie, Sleepy Hollow, small businesses, small group, Solon Mills, South Barrington, South Elgin, special enrollment, Spring Grove, Sugar Grove, Tax
Posted in Small Business | Comments Off on Health reimbursement arrangements for small employers
Monday, October 30th, 2017
The Chicago Tribune reports:
“Cindy Purvance of Park City, Utah, was incensed when she received a letter in the mail, alerting her that her family’s health insurance premium would skyrocket to $1,300 a month next year – a $500 increase.
(more…)
Tags: affordable care, Affordable Care Act, Blue Cross, Blue Cross and Blue Shield, Broker, Donald Trump, enrollment, insurance, insurance broker, Navigator, ObamaCare, open enrollment, requirements, SHOP, sign up, small businesses, the affordable care act, Trump
Posted in Family Health Insurance | Comments Off on After Trump’s Obamacare moves, shopping for health insurance more baffling than ever
Friday, March 24th, 2017
Yahoo Finance reports:
“Dr. Bryan Hill spent his career working as a pediatrician, teaching at a university, and working at a hospital. But in March 2016, he decided he no longer wanted a boss.
He took some time off, then one day he got a call asking if he’d be up for doing a house call for a woman whose son was sick. He agreed, and by the end of that visit, he realized he wanted to treat patients without dealing with any of the insurance requirements.
(more…)
Tags: Affordable Care Act, Barrington, Barrington Hills, Bartlett, Batavia, Bensenville, Berwyn, Big Rock, Blue Cross, Health and Human Services, health insurance, Hospital, insurance plan, medical expenses, Medicare, requirements, the affordable care act
Posted in Health Insurance News | Comments Off on A new kind of doctor’s office charges a monthly fee and doesn’t take insurance — and it could be the future of medicine
Thursday, June 25th, 2015
National Law Review reports:
“Despite guidance from the Internal Revenue Service (“IRS”), the Department of Labor (“DOL”) and the Department of Health and Human Services (“HHS”) indicating the prohibition of the practice under the Affordable Care Act (“ACA”), some employers continue to reimburse employees for health insurance premiums. This practice could lead to thousands of dollars in penalties.
Notice 2015-17 is the IRS’ most recent guidance on such arrangements, reaching the same conclusions. It also, however, provides welcome penalty relief for certain employers.
(more…)
Tags: accident, affordable care, Affordable Care Act, Aflac, Alden, Algonquin, application, Health and Human Services, individual health insurance, Minimum Essential Coverage, requirements, the affordable care act
Posted in Health Insurance Cost, Insurance Reform | Comments Off on Employer Paid Individual Health Insurance Policies Create the Potential for Significant Penalties, but Limited Relief is Available
Monday, March 2nd, 2015
Benefits Pro reports:
“Supreme Court ruling killing PPACA subsidies may cause premiums to skyrocket.
If the U.S. Supreme Court rules that federal subsidies under the Patient Protection and Affordable Care Act are invalid, 7.5 million Americans could face an average premium increase of 255 percent this year. And some could face an increase as much as 779 percent.
That’s the dire warning from consulting firm Avalere Health on the impact that the King vs. Burwell case could have on consumers. Arguments in the case begin March 4.
Avalere said 87 percent of federal exchange customers receive a subsidy. Therefore, the firm said killing the subsidies would cause “average monthly premium contributions for enrollees” to potentially increase “between 122 percent and 774 percent, depending on the state.” Residents in Alaska and Mississippi would see the highest percentage increases in their premium contributions, if the court rules in favor of the plaintiffs.
(more…)
Tags: affordable care, Affordable Care Act, Court Ruling, individual, Lakemoor, Lakewood, Lincolnwood, Lisle, Lombard, Long Grove, Marengo, Patient Protection, premiums, requirements, subsidies
Posted in Affordable Care Act, Subsidy | Comments Off on Ready for a 255% premium hike?
Friday, February 27th, 2015
Modern Healthcare Reports:
“The CMS Friday issued final market rules for 2016 (PDF) for the state and federal insurance exchanges. The regulations include stronger requirements for insurers to provide accessible, reliable information about provider networks and drug formularies so that exchange customers can make informed choices.
(more…)
Tags: Affordable Care Act, Costs, Deer Park, Deerfield, DeKalb, DeKalb County, Delay, dental, Des Plaines, Downers Grove, Dundee, Health and Human Services, Individuals, insurance, requirements, the affordable care act
Posted in Exchange, Insurance Reform | Comments Off on New CMS rules boost consumer protections in exchange plans
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