Entries for 'jpbeatrice'

The IRS announced the HSA limits for 2021. The new single maximum contribution limit is increasing to $3,600 and the family maximum is increasing to $7,200. The released amounts for 2021 HSA contributions, maximum out of pocket limits, and minimum deductible limits for High Deductible Health Plans (HDHPs) are listed below.  Please reach out to your Business Benefit team for any questions. HSA Contribution Limits 2021:    Single - $3,600 ... Read more
On June 19th, 2018, the Department of Labor released final rules allowing for expanded availability of Association Health Plans (AHPs), typically for small employers.  The rule establishes a broader definition of eligible employers that can join an association to be under a single group health plan.  Allowing for small employers, including those that are self-employed, to come together based on geography or industry to gain access to healthcare coverage similar... Read more
Once again CMS and HHS will allow small employers and individual health plans another year extension of transitional (grand-mothered) coverage.  Transitional relief allows employers to continue to use their health plans that don't meet requirements of the Affordable Care Act.  If employers switch carriers or switch to a community rated plan, their transitional relief ends and they can no longer use their previous plan.  The new CMS extension allows transi... Read more
On April 26, 2018 the IRS announced that they are changing the HSA contribution limit once again for participants with family coverage for 2018. The new maximum contribution limit is going up to $6,900, $50 higher than announced earlier this year in March.  This changes the limit back to what was released originally in Rev. Proc. 2017-37 on May 4, 2017.  Participants with self-only coverage are not affected.  The updated amounts for 2018 H... Read more
It has become increasingly important for Applicable Large Employers (ALEs) to comprehend and familiarize themselves with Section 1411 notices from the Exchange/ Marketplace.  When an ALE receives one of these notices, it means that one of their employees recently received a premium tax credit (subsidy) through a health insurance plan that they purchased through the Exchange.  Under the Employer Shared Responsibility provision (Play or Pay), the ALE is required ... Read more
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