Entries for September 2015

The Affordable Care Act’s high-cost plan tax (HCPT), called the “Cadillac plan” tax, will likely affect employer decisions about their health benefits in the future. This new tax takes effect in 2018 and proposed rules have been released by the IRS in recent months.  Although a very unpopular provision of the Affordable Care Act it’s included in the law as a revenue generator to pay for other aspects of the ACA. What is the Cadillac Tax?&nbs... Read more
  The ACA established a Transitional Reinsurance Program to help stabilize premiums for coverage in the individual market during the years 2014 through 2016. The statute requires all fully insured and self-insured group health plans to make contributions under this program to support payments to individual market issuers that cover high-cost individuals.  Insurance carriers will send in payment of the fee on behalf of fully insured plans,... Read more
Federal Law requires health insurance carriers and self-funded employers to report health insurance coverage to the IRS using members' (including dependents) Social Security numbers (SSNs). For many years, health insurance carriers did not always require dependent SSNs to enroll in coverage. However with the new reporting standards, health insurance carriers will be making requests via mail for dependent SSNs. Covered members have a strong incentive to provide their SS... Read more